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Wind Regains Momentum in 2014 and Industry Outlook Improves

  • April 2015
  • 22 pages
  • GlobalData
Report ID: 2913170

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Wind Regains Momentum in 2014 and Industry Outlook Improves

Summary

The global market improved substantially in 2014 with annual installations reaching 52 Gigawatts (GW), representing growth of almost 45% over 2013. In 2015, cumulative wind installed capacity is expected to increase by 14% to reach 425 GW. Global new wind turbine order intake in Q1 2015 increased by 44% over Q1 2014 and 8% over Q4 2014. The US maintained its position as the largest market for wind turbine orders in 2014, followed by Brazil, the Netherlands, the UK and Germany. However, in Q1 2015, Brazil is likely to beat the US to the top spot. Most of the major wind turbine manufacturers saw an increase in their order backlogs in Q4 2014 compared to Q3 due to a higher order intake. Most OEMs witnessed an increase in service revenue in 2014 over 2013, as turbine maintenance continues to provide steady revenue. O&M revenue opportunity is motivating technological innovations and service improvement to meet the dynamic needs of the wind industry O&M business. In 2014, offshore wind installations in the UK, Belgium and Germany helped Europe to remain the leader in offshore wind development. In 2015, Germany is expected to dominate by accounting for more than 50% of annual installations, while China is expected to more than triple its annual installations. Average wind turbine prices recovered in Q4 2014, reaching $1.20m per Megawatt (MW) due to growing demand for lower-class wind turbines that command a higher price than those that are older and less efficient. Strong competition has helped to maintain stable wind turbine prices, and high-yield models with incremental technological advancements continue to fetch premium prices over base models.

Scope

- The report covers quarterly order intake for wind turbines between Q1 2014 and Q1 2015
- Order intake has been further classified by country and region for 2013 and 2014.
- It also covers OEMs order backlog, installation outlook for offshore and total wind energy, order intake for offshore wind turbines in 2013 and 2014, major markets for offshore wind in 2014, operations and maintenance performance for major OEMs along with few major O&M contracts, wind power policy updates in 2014, feed-in-tariffs for wind power, global wind turbine price trend for 2009 to 2014 and its expected trend along with average price for Vestas and Mingyang wind turbines.

Reasons to buy

- To understand the global wind market performance in 2014 and expected market trends in near future.

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ref:plp2015

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