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Chinese Wind Installations took the Global Wind Market to a Record Height in 2015

Chinese Wind Installations took the Global Wind Market to a Record Height in 2015

  • May 2016
  • 22 pages
  • ID: 3878495
  • Format: PDF
  • GlobalData
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Chinese Wind Installations took the Global Wind Market to a Record Height in 2015

Summary

Chinese wind installations took the global wind market to a record height in 2015. China represented almost half of the global new wind installations in 2015, with a total installed capacity of 30.5 Gigawatts (GW), followed by the US (8.6 GW), Germany (6.1 GW), Brazil (2.6 GW), and India (2.6 GW). 2015 order intake greatest in Q2. Global new publicly announced wind turbine order activity was the highest in Q2 2015, with an increment of 78.8% over Q2 2014. Order intake in Q3 2015 and Q4 2015 increased by 21% and 7.2% compared with Q3 2014 and Q4 2014 respectively.

The US overtook the UK as the largest market for publicly announced wind turbine orders in 2015, followed by India and China. The rush to reach the production stage prior to the Production Tax Credit (PTC) expiration in December 2015 led to rapid wind power expansion in the US.

Major wind turbine manufacturers such as Vestas, Nordex, Gamesa Corporacion Tecnologica and China Mingyang Wind Power Group saw an increase in their order backlogs in 2015 compared with 2014, due to higher order intake activity. Operations and Maintenance (O&M) poised for a growth phase. Most Original Equipment Manufacturers (OEMs) witnessed an increase in service revenue in 2015 over 2014, as turbine maintenance continued to provide steady revenue. Companies such as Gamesa, Vestas and Nordex had a strong performance in 2015 in terms of O&M revenues. Revenue opportunities are motivating technological innovations and service improvement to meet the dynamic needs of the wind industry O&M business.

Germany is developing into a sizable offshore growth market with a large number of offshore projects expected to come online during 2016 and 2017, while China is expected to occupy the second position.

Average wind turbine prices have stabilized since 2015, with a marginal increase, reaching $1.08m per Megawatt (MW). Pricing pressures have eased due to policy stability and steady demand.

Scope

- The report covers quarterly order intake for wind turbines between Q1 2014 and Q1 2016, order intake has been further classified by country and region for 2014-2015 and 2015 respectively.
- It covers wind turbine installations in major markets such as the US, China, Brazil, India, and Germany during the period 2014-2018.
- And also covers order backlog, global wind industry highlights, installation outlook for offshore and total wind energy, major developments in the offshore wind market in 2015, global wind turbine installation by Original Equipment Manufacturer (OEM) in 2015, Operations and Maintenance (O&M) performance for major OEMs along with few major O&M contracts, wind power policy updates in 2015 and Q1 2016, feed-in-tariffs for wind power, global wind turbine price trend for 2009 to 2015 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 2015 and Q1 2016 and expected market trends in the near future.

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