According to reports, The global wind industry will install more than 46 giga watt of new wind energy capacity in 2012 according to a five-year industry forecast published by the Global Wind Energy Council (GWEC).
By the end of 2016, total global wind power capacity will be just under 500 GW, with an annual market in that year of about 60 GW, the report said.
Overall, GWEC projects average annual market growth rates of about 8% for the next five years, but with a strong 2012 and a substantial dip in 2013. Total installation during 2012-2016 is expected to touch 255 GW, with cumulative market growth averaging just under 16%.
According to Steve Sawyer, GWEC Secretary General 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.”
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 during 2013, ending the period with about 200 GW in total.
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.
Having achieved a 3 GW market for the first time in 2011, the annual market in India is expected to reach 5 GW by 2015.