What’s new with GlobalData's Alternative Energy Industry Reports29 Nov 2011 • by Natalie Aster
Market Publishers Ltd informs that new GlobalData's Alternative Energy Industry Reports have been added to its catalogue:
Offshore wind is being increasingly explored across the world for its high yield due to stronger and more consistent winds compared to onshore locations and the scope for the construction of massive GW-scale projects. Cumulative offshore wind energy installations currently only form a small part of the global wind power market, which was about 1.6% in 2010. However, huge potential exists for offshore wind to become a major source of energy in the future. Offshore wind power development is mainly concentrated in Europe, which accounts for over 2.9 GW of offshore wind power capacity. With large scale wind power projects expected to become operational in the near future, the offshore wind power market is set for huge growth. Huge projects in Europe and Asia-Pacific are scheduled to be completed in the near future. Offshore wind power capacity grew from 96 MW in 2001 to 3,068 MW in 2010 at a CAGR of 47%. With large scale commercial offshore wind farms currently under construction and in the planning phase, offshore wind power capacity is expected to reach 64,594 MW in 2020 from 3,068 MW in 2010 at a CAGR of 36%, with the UK leading from the front.
The global wind energy market witnessed huge growth from 2009 to 2010 as total wind power capacity grew by 22.3%. Global wind energy installed capacity increased at a compound annual growth rate (CAGR) of 27.9% from 74,107 megawatt (MW) in 2006 to 198,203 MW in 2010, of which 36,100 MW came online in 2010. Although the cumulative capacity for wind power grew, there was a fall in annual additions in 2010 by 10.9% as major wind markets such as the US, Germany and Spain faced economic problems following the global economic crisis. The global wind power markets are expected to recover in 2011 due to the huge order intake by major wind manufacturers, the growing Asia-Pacific region, emerging South America and Africa regions, steady European wind markets and recovery in North America. Wind power manufacturers across the world had a high order intake in 2010 with expected delivery deadlines in 2011 and 2012. This will contribute to annual installations in 2011-2012.
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