Global Wind Turbine Gearbox Market to Exceed $8 Billion by 2020, Wind Rotor Blades Drop to 49K Units Installed

FARMINGTON, Conn., Dec. 17, 2012 /PRNewswire-iReach/ -- The global wind power market witnessed tremendous growth in 2011, as annual wind power capacity installations recovered after a slight dip in 2010. In fact, Global wind energy installed capacity increased at a Compound Annual Growth Rate (CAGR) of 26.5% from 74,122 Megawatts (MW) in 2006 to 240,000 MW in 2011. The wind turbine industry provides employment to over 450,000 people worldwide. Annual turbine installations are expected to grow from 39.9 Gigawatts (GW) in 2011 to 40.6 GW in 2012, against a backdrop of order intakes by major wind turbine manufacturers. During the 2012-2020 forecast period, global wind turbine installations will show steady growth, and cumulative wind power installed capacity will reach 391,985 MW by 2015 and 658,448 MW by 2020.

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Wind Turbine Gearbox and Direct Drive Systems - Global Market Size, Company Share, Gearbox Refurbishments and Key Country Analysis to 2020