Global Wind Market Forecast to 2014
MarketOptimizer.org adds Latest Report on “Q1 2014 Global Wind Market Update Market Resurgence” to its store.
Summary
Global new order inflow for Q1 2014 showed growth of 46% from Q1 2013 levels, whereas firm order intake grew by 32%. As in Q4 2013, the US maintained its position as the largest market for wind turbine orders in Q1 2014, followed by China, the UK, Germany and Brazil. Around 658 Megawatts (MW) of wind turbine contracts were signed in the US, which accounted for 23% of the global total. Most of the major wind turbine manufacturers, specifically Siemens, China Ming Yang, Suzlon, GE and Gamesa, had higher order backlogs in Q4 2013 than in the previous quarter. However, Vestas and Goldwind’s order backlogs declined as the companies signed few new orders and delivered more wind turbines in Q4 2013 than in the previous quarter. Turbine maintenance remains a highly profitable business for turbine OEMs. The wind O&M market has expanded significantly in the last five years due to high growth rates and large-capacity installations. Together with growth in global installed capacity, the share of service revenue is increasing significantly. Offshore wind installations in the UK, Denmark, Belgium and Germany helped Europe to remain the leader in offshore wind development. Around 250 MW of offshore wind turbines were installed in China in 2013 and it is expected to become the largest offshore wind market in 2014 with an annual installed capacity of 712 MW. Average wind turbine prices were $1.51m/MW in 2009, which due to year-on-year reduction of average prices, reached $1.11m/MW in 2013. Prices in 2014 and 2015 are expected to increase slightly due to tight margins in turbine sales and higher turbine demand.
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Scope
• The report covers quarterly order intake for wind turbines between Q1 2013 and Q1 2014
• Order intake has been further classified as firm
Summary
Global new order inflow for Q1 2014 showed growth of 46% from Q1 2013 levels, whereas firm order intake grew by 32%. As in Q4 2013, the US maintained its position as the largest market for wind turbine orders in Q1 2014, followed by China, the UK, Germany and Brazil. Around 658 Megawatts (MW) of wind turbine contracts were signed in the US, which accounted for 23% of the global total. Most of the major wind turbine manufacturers, specifically Siemens, China Ming Yang, Suzlon, GE and Gamesa, had higher order backlogs in Q4 2013 than in the previous quarter. However, Vestas and Goldwind’s order backlogs declined as the companies signed few new orders and delivered more wind turbines in Q4 2013 than in the previous quarter. Turbine maintenance remains a highly profitable business for turbine OEMs. The wind O&M market has expanded significantly in the last five years due to high growth rates and large-capacity installations. Together with growth in global installed capacity, the share of service revenue is increasing significantly. Offshore wind installations in the UK, Denmark, Belgium and Germany helped Europe to remain the leader in offshore wind development. Around 250 MW of offshore wind turbines were installed in China in 2013 and it is expected to become the largest offshore wind market in 2014 with an annual installed capacity of 712 MW. Average wind turbine prices were $1.51m/MW in 2009, which due to year-on-year reduction of average prices, reached $1.11m/MW in 2013. Prices in 2014 and 2015 are expected to increase slightly due to tight margins in turbine sales and higher turbine demand.
Purchase a copy of this report at http://www.marketoptimizer.org/contacts/purchase?rname=7466 .
Scope
• The report covers quarterly order intake for wind turbines between Q1 2013 and Q1 2014
• Order intake has been further classified as firm