Global Wind Still Focused On Big Markets
Market concentration to continue to 2027; Wind deployment over the next decade is set to remain concentrated in 15 countries, highlighting the industry's reliance on the established markets.
David Weston, 13 April 2018 (Windpower Monthly)
“…[A new forecast shows global wind capacity will grow over the next 10 years at a compound annual growth rate (CAGR) of 3.3% and 82.7% of new wind] capacity (570.4GW) added between 2018 and 2027 will be added in just 15 markets: China, US, India, Germany, France, UK, Brazil, Mexico, Turkey, Japan, Netherlands, Argentina, Spain, Taiwan and Canada…[FTI Intelligence] predicts 689GW of new wind capacity will be added in these countries over the next decade, meaning less than 120GW will be installed in the rest of the world…[China is predicted to become the largest offshore market by installed capacity in 2021, surpassing the UK’s total. In the near term (2018-2022), CAGR could be as high as 5.3%, with the Chinese market remaining vital to global growth. But in the medium term (2023-2027) CAGR could fall to just 1.4%. In 2017, 89% of new capacity was] added in just ten markets…[This suggests] a slight diversification over the next decade…[But if] just one of the top 15 markets take a sharp downturn, there could be repercussions across the whole industry…” click here for more