The global wind market can expect continued growth for the rest of the decade, according to a study.
The Global Wind Energy Council suggests the market will top 50GW again in 2015 and reach 60GW per year by 2018.
Growth will continue to be led by China, the body said, which seems on track to hit 200GW well ahead of the government’s target of 2020.
The Indian market is also expected to grow “substantially” while Latin America is becoming a strong regional market, led by Brazil but with Mexico catching up quickly.
Europe is expected to remain relatively stable and North America is the most difficult market to predict as “policy vacuums loom” in both the US and Canada in 2016 or thereafter.
GWEC’s Global Wind Report: Annual Market released today in Istanbul confirms that the global wind market made a strong recovery in 2014.
Led by China and Brazil, as well as Mexico and South Africa, non-OECD markets outstripped the traditional markets in Europe and North America yet again.
China installed 23GW last year, bringing its cumulative total to more than 114GW, and Brazil was the world’s fourth largest market in 2014, entering the top 10 in cumulative rankings for the first time.