Ken Research - Global Wind Turbine Market Report | Page 5

November 2017
Global Wind Turbine Market Outlook to 2021
Future Outlook to Global Wind Turbine Market
Asia is expected to remain largest contributor in the global wind turbine market both
in terms of cumulative and new installed capacity. It is expected that cumulative
installed capacity in Asia may cross ~ GW in 2021 adding more than ~ GW during
the forecasted period (2017-2021). It is estimated that cumulative installed capacity in
Europe will be ~ GW registering a five year CAGR of ~% (2016-2021). Development
of offshore wind energy will play a very small but important role in overall wind
energy market in the region. In North America, the US will continue its dominance
with significant expected contribution coming from Mexico and Canada. Latin
America, Pacific, and Middle East and Africa are expected to add the comparatively
lesser capacity but growth rate will be much higher as many countries in the region
have very low or no wind turbine capacity. Growth in Pacific region is expected to
be slow compared to other two regions.
By Revenue: It is expected that unit cost of wind turbine per MW will register a
continuous decline in future as technology improves and better efficiency and height
is achieved. It is expected that USD ~ billion will be investment in 2021 for addition
of new turbines. Post 2016, revenue generated from sale of wind turbine will register
positive growth rate except in 2018 when it is expected that market will decline
slightly by ~%. This may be caused due to decline in demand from China and falling
prices of wind turbine per MW.
By Service Revenue: Revenue from services is expected to increase from USD ~
billion in 2017 to USD ~ billion in 2021. Europe will lose its dominance in the global
services market by 2021. Aging turbines, rise of offshore wind turbine sector, focus
on efficiency and maximum utilization will drive the growth in future. Role of in
house maintenance will decline and ISPs are expected to partner with OEMs for
better performance over the period of operation of turbine. In 2021, it is expected
that more than 800 GW will be under O&M contracts including 35 GW in offshore
wind turbine category.
Key Topics Covered in the Report
 Global Wind Turbine Market Introduction
 Global Wind Turbine Market Size by Cumulative and New Installed Capacity
and by Revenue, 2011-2016
 Global Wind Turbine Market Size by Services Revenue, 2011-2016.
 Value Chain in Global Wind Market
 Type of Business Model in Global Wind Turbine Market
 Global Wind Turbine Market Segmentation by Type and Region, 2016
 Snap shot on Global Offshore Wind Turbine Market
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