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Turbine market worth $96bn by 2016

GLOBAL: The value of the global wind turbine market is expected to reach $96 billion by 2016, according to research published by a US consultant.

China will lead global turbine installation along with the US
China will lead global turbine installation along with the US

Dallas-based firm Lucintel published a report last week claiming that the turbine market value will experience a compound annual growth rate of 12% between 2011 and 2016.

The report, Growth Opportunities in Wind Energy Markets 2011–2016, estimates that the total installed global capacity will be 568GW by the end of 2016. Asia is expected to remain the leader in wind-energy installations, with China and the US expected to continue to top the list in new turbine installations.

Portugal, France, Italy, the UK, Ireland, and the Netherlands are also expected to continue steadily adding capacity.

Meanwhile, composites consumption in the wind market is expected to witness a healthy growth over the forecast period and reach $5.5bn in 2016.

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