“The utility industry will change more in the next 10 years than it has in the past 50 years,” says managing director Clint Wheelock. “Utilities and their suppliers face a number of opportunities and challenges as they work to integrate new energy sources, reduce carbon emissions, manage energy more efficiently, and accommodate the arrival of electric vehicles. All of these initiatives will require an unprecedented level of technology and business planning.”
As part of its Utility Innovations service, Pike Research’s industry analysts offer timely and actionable market insights, covering specific technology and business sectors as well as overall market conditions and trends. Research reports include an in-depth examination of business models, policy and regulatory factors, the competitive landscape, and market sizing, segmentation, and forecasting.
A few of Pike Research’s key forecasts affecting the global utility industry include the following:
* More than 150,000 new and replacement wind turbines will be installed worldwide during the period from 2010 to 2015.
* The United States will surpass Germany to become the world’s largest solar energy market by 2014.
* Global cumulative smart meter installations will reach 250 million by 2015.
* Utilities around the world will have invested more than $200 billion in smart grid technologies between 2008 and 2015.
* More than 5 million electric vehicle charging stations will be installed worldwide by 2015.
* The carbon capture and sequestration (CCS) market could reach as high as $128 billion under a base case scenario, or $221 billion under a more aggressive forecast scenario.
Wind Energy Outlook for North America
Wind Power Generation Capacity and Turbine Deployments: Market Analysis and Forecasts
In 2008, United States wind power generation capacity passed the 25 gigawatt mark by adding over 8 gigawatts from the year before, which represented the largest individual gain of any country in the world. This growth rate of 50% exceeded that of the year before, indicating that the market is still relatively young and has room to grow, despite the economic slowdown. The market for wind turbines will continue to grow through 2015 driven by new generation additions as well as replacements of smaller, older turbines with new, larger, more efficient turbines. In 2007, generation capacity from renewable sources made up only 4% of the world’s electricity sources, but 16% of new electricity generation capacity additions were from renewables with wind power making up more than 80% of these gains by renewables.
The year 2009 will be a defining moment for wind power markets around the world. The global economic crisis that began in late 2008 has thrown the industry into confusion, along with most other global industries. Two competing market views exist, and representatives from each camp were interviewed for this report across the wind power value chain, such as components suppliers, turbine OEMs, wind developers, and power providers.
This Pike Research report analyzes the opportunities and challenges facing wind power in North America – particularly turbine manufacturers – in the current economic and political climate. It assesses drivers of growth include rising demand for electricity, pro-wind regulatory environments, advantages over other renewables, and technological innovations driving down lifetime costs of producing wind power. Key players in the wind energy business are profiled and the report also includes rich quantitative analysis including market sizing, segmentation, market share analysis of top turbine vendors, and growth forecasts for the United States and Canada through 2015.
Pike Research’s Utility Innovations Advisory Service analyzes emerging technologies, business models, and market opportunities that are driving change and growth in the electric utility industry. The service includes access to more than 20 of the firm’s in-depth Research Reports per year, in addition to unlimited Analyst Inquiry access. Executive Summaries and further information about the Advisory Service are available for free download on the firm’s website.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Clean Transportation, Clean Industry, Corporate Sustainability, and Building Efficiency sectors.
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