China and Brazil to drive future wind sector growth

Brazil and China will be the main drivers of growth in the global wind industry in the next five years, with capacity in the sector set to hit a total of 500 GW by 2016.

This is the conclusion of a report released this week by the Global Wind Energy Council (GWEC).

“For the next five years, annual market growth will be driven primarily by India and Brazil, with significant contributions from new markets in Latin America, Africa and Asia,” said GWEC secretary general Steve Sawyer.

However he added: “While the market continues to diversify across all continents, it is at the same time plagued by continued slow economic growth and budget crises in the OECD, as well as the continuing credit crunch.”

GWEC says that in 2012 – for the second year running – the majority of new installations were outside the OECD, a trend it expects to continue.

It predicts Asia will continue to be the world’s largest market with far more new installations than any other region, installing 118 GW between now and 2016 and surpassing Europe as the world leader in cumulative installed capacity sometime next year.

The report finds that after nearly a decade of double and triple digit growth, “the Chinese market has finally stabilised and will remain roughly at current levels for the next few years”.

It found that the European market remains stable, and “given the EU’s clear policy framework and targets out to 2020, there are unlikely to be many major surprises”.

For more Wind Power news.

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For more Latin America news.



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