GWEC’s five-year forecast of the world wind energy market estimates that by 2016, the total global installed wind capacity will be just under 500GW, with an annual market in that year of around 60GW.
GWEC predicts there will be a slight dip in new capacity being installed in 2013 compared to this year, but that overall the average annual growth in installed capacity for the period 2011-2016 will run at just under 8%.
Over the past 12 months, for the second year running, the majority of new installations were outside the OECD bloc.
Asia will continue to be the world’s largest market, installing 118GW between now and 2016, and surpassing Europe as the world leader in cumulative installed capacity sometime during 2013.
"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 Steve Sawyer, GWEC Secretary General. "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."