flexiblefullpage
billboard
interstitial1
catfish1
Currently Reading

Navigant research report finds global wind capacity value is expected to increase tenfold over the next decade

Market Data

Navigant research report finds global wind capacity value is expected to increase tenfold over the next decade

Wind power is being developed in more countries as well as offshore and onshore.


By Navigant | January 29, 2020

Courtesy Pixabay

A new report from Navigant Research analyzes the global wind power market to assess current and future development cycles and projections for new installed wind capacity. The report provides global market forecasts, segmented by region, through 2028.

Global wind industry installations were flat from 2017 to 2018, but behind the flat figures are profound shifts throughout global wind power markets. Some mature markets are facing flat or declining growth due to adjustments to more competitive policy environments and reductions or eliminations of subsidies. However, these changes are being offset by increasing wind power development in countries that were not previously wind power markets. This new capacity represents a market worth more than $92 billion in 2019 and more than $1 trillion over the forecast decade.

“Growth in wind capacity is led by countries in Asia Pacific and non-traditional markets in Europe, Latin America, and the Middle East & Africa,” says Jesse Broehl, senior research analyst with Navigant Research. “Wind power is being developed not only in a greater variety of countries but also increasingly in offshore as well as onshore.”

According to the report, global offshore wind development is expected to experience a 16% compound annual growth rate over a 10-year forecast period. China, Taiwan, and Europe are the leading markets, with the US soon to join when the first large-scale offshore wind plants are commissioned in coming years along the northeast coast of the country. The report also examines the annual installed capacity of top global wind turbine original equipment manufacturers (OEMs) and related market share and ranking. The most recent year-end 2018 data shows Denmark-based Vestas retaking the global total annual capacity lead and three other Western OEMs falling in the global total annual rankings. The turbine OEM market dynamics show consolidation throughout the sector, with top OEMs commanding larger market shares.

The report, Global Wind Energy Overview, analyzes the global wind power market to assess current and future development cycles and projections for new installed wind capacity. The study provides an analysis of the market issues related to wind development, including drivers and barriers such as power contract auction rates, volume, and related policy and market environments. Global market forecasts, segmented by region, extend through 2028. The report also summarizes the key industry players related to wind power development. An Executive Summary of the report is available for free download on the Navigant Research website.

Related Stories

Market Data | Sep 6, 2023

Far slower construction activity forecast in JLL’s Midyear update

The good news is that market data indicate total construction costs are leveling off.

Giants 400 | Sep 5, 2023

Top 80 Construction Management Firms for 2023

Alfa Tech, CBRE Group, Skyline Construction, Hill International, and JLL top the rankings of the nation's largest construction management (as agent) and program/project management firms for nonresidential buildings and multifamily housing work, as reported in Building Design+Construction's 2023 Giants 400 Report.

Giants 400 | Sep 5, 2023

Top 150 Contractors for 2023

Turner Construction, STO Building Group, DPR Construction, Whiting-Turner Contracting Co., and Clark Group head the ranking of the nation's largest general contractors, CM at risk firms, and design-builders for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2023 Giants 400 Report.

Market Data | Sep 5, 2023

Nonresidential construction spending increased 0.1% in July 2023

National nonresidential construction spending grew 0.1% in July, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.08 trillion and is up 16.5% year over year.  

Giants 400 | Aug 31, 2023

Top 35 Engineering Architecture Firms for 2023

Jacobs, AECOM, Alfa Tech, Burns & McDonnell, and Ramboll top the rankings of the nation's largest engineering architecture (EA) firms for nonresidential buildings and multifamily buildings work, as reported in Building Design+Construction's 2023 Giants 400 Report.

Giants 400 | Aug 22, 2023

Top 115 Architecture Engineering Firms for 2023

Stantec, HDR, Page, HOK, and Arcadis North America top the rankings of the nation's largest architecture engineering (AE) firms for nonresidential building and multifamily housing work, as reported in Building Design+Construction's 2023 Giants 400 Report.

Giants 400 | Aug 22, 2023

2023 Giants 400 Report: Ranking the nation's largest architecture, engineering, and construction firms

A record 552 AEC firms submitted data for BD+C's 2023 Giants 400 Report. The final report includes 137 rankings across 25 building sectors and specialty categories.

Giants 400 | Aug 22, 2023

Top 175 Architecture Firms for 2023

Gensler, HKS, Perkins&Will, Corgan, and Perkins Eastman top the rankings of the nation's largest architecture firms for nonresidential building and multifamily housing work, as reported in Building Design+Construction's 2023 Giants 400 Report.

Apartments | Aug 22, 2023

Key takeaways from RCLCO's 2023 apartment renter preferences study

Gregg Logan, Managing Director of real estate consulting firm RCLCO, reveals the highlights of RCLCO's new research study, “2023 Rental Consumer Preferences Report.” Logan speaks with BD+C's Robert Cassidy. 

Market Data | Aug 18, 2023

Construction soldiers on, despite rising materials and labor costs

Quarterly analyses from Skanska, Mortenson, and Gordian show nonresidential building still subject to materials and labor volatility, and regional disparities. 

boombox1
boombox2
native1

More In Category

Healthcare Facilities

Watch on-demand: Key Trends in the Healthcare Facilities Market for 2024-2025

Join the Building Design+Construction editorial team for this on-demand webinar on key trends, innovations, and opportunities in the $65 billion U.S. healthcare buildings market. A panel of healthcare design and construction experts present their latest projects, trends, innovations, opportunities, and data/research on key healthcare facilities sub-sectors. A 2024-2025 U.S. healthcare facilities market outlook is also presented.




halfpage1

Most Popular Content

  1. 2021 Giants 400 Report
  2. Top 150 Architecture Firms for 2019
  3. 13 projects that represent the future of affordable housing
  4. Sagrada Familia completion date pushed back due to coronavirus
  5. Top 160 Architecture Firms 2021