1. Market Research
  2. > Energy & Environment
  3. > Energy Technology
  4. > Wind Turbine Market Trends
  5. > US Wind Turbine Systems Market

US Wind Turbine Systems Market

  • March 2014
  • -
  • Freedonia
  • -
  • 285 pages

Summary

Table of Contents

US demand to skyrocket 55% annually through 2018

US demand for wind turbine systems is forecast to increase 55 percent annually through 2018 to $18.9 billion, a nearly ninefold increase over depressed 2013 sales. Demand was adversely affected in 2013 by the record number of sales, valued at more than $25 billion, the previous year. The number of new installations in 2012 nearly doubled the amount of new installed capacity in 2011. This spike in sales was the result of electric utilities and other entities pushing up the timeline of many wind turbine projects to take advantage of the production tax credit, which was due to expire at the end of 2012. As a result, when the production tax credit was renewed in January 2013, there were few orders left in the pipeline. In fact, through the first three quarters of 2013, less than 75 megawatts of new wind power capacity was added in the US. The fourth quarter of 2013 saw a rush of installations similar to 2012, albeit to a significantly lesser degree, as firms again sought to take advantage of the expiring production tax credit. However, the production tax credit was left to expire at the end of 2013 and, as of March 2014, there has been no attempt to renew it.

Renewable energy standards to drive growth

Going forward, advances in wind turbine system sales will be driven by the need for most states to achieve renewable portfolio standard benchmarks through 2018 and beyond. In addition, growth will benefit from ongoing demand for small wind turbine systems from a small base, as well as continuing interest in developing renewable energy resources that are cleaner and not subject to fuel price shocks. The emerging off-shore wind industry, which is expected to see its first significant wind turbine installation during the forecast period, will provide further gains. However, the uncertain future of the federal production tax credit and other incentives for wind energy will serve to prevent even more robust sales.

Onshore applications nearly universal

With the exception of a single small-scale prototype turbine off the coast of Maine in June 2013, all of the wind turbine systems installed in the US in 2013 were for onshore applications. Local opposition, concerns about cost, and a developing regulatory process have postponed the installation of the country’s first offshore wind farm. However, this is expected to change going forward, as a number of projects are progressing toward the installation stage.

All US regions to experience growth

The Northeast had the lowest amount of installed wind energy capacity in the US in 2013, but is expected to benefit from the installation of the nation’s first offshore wind turbines. In addition, electricity costs in the Northeast are among the highest in the country, spurring the installation of renewable energy sources such as wind. On the other hand, the South has a lot of available land with strong wind resources for wind farm development, particularly in Texas, a state that also has favorable regulations
that entice utilities to develop wind farms. The ongoing trend of constructing wind farms in the West South Central and Mountain subregions and delivering the electricity to neighboring states will provide further impetus for growth.

Study coverage

This upcoming industry study presents historical demand data for 2003, 2008 and 2013, plus forecasts for 2018 and 2023 by type, component, application and US region. The study also assesses key market environment factors, examines industry structure, evaluates company market share and profiles US industry players such as General Electric, Siemens and Vestas Wind Systems.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Wind Turbine Composites Material Market by Fiber Type, Resin, Manufacturing Process, Application, Region - Global Forecast to 2021

Wind Turbine Composites Material Market by Fiber Type, Resin, Manufacturing Process, Application, Region - Global Forecast to 2021

  • $ 5650
  • Industry report
  • March 2017
  • by MarketsandMarkets

“The wind turbine composite market is projected to grow at a CAGR of 9.28% from 2016 to 2021, in terms of value.” The wind turbine composite market is projected to reach USD 12.17 billion by 2021, ...

Wind Turbine Casting Market Analysis By Type (Horizontal Axis, Vertical Axis), By Application (Onshore, Offshore), By Region And Segment Forecasts, 2014 - 2025

Wind Turbine Casting Market Analysis By Type (Horizontal Axis, Vertical Axis), By Application (Onshore, Offshore), By Region And Segment Forecasts, 2014 - 2025

  • $ 4950
  • Industry report
  • January 2017
  • by Grand View Research

The global wind turbine casting market is expected to reach USD 3.27 billion by 2025, according to a new report conducted by Grand View Research, Inc. The growing demand for electricity in developing countries ...

Opportunity in Direct Drive (Gearless) Wind Turbine in global market - 2017

Opportunity in Direct Drive (Gearless) Wind Turbine in global market - 2017

  • $ 4500
  • Industry report
  • March 2017
  • by Feedback Business Consulting

This report provides insight into the current market scenario, structure and practices. In depth market scenario includes: - Current market size estimate - Revenues by players - Top 5 Companies - Market ...


ref:plp2014

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.