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Study #: 3139

Published: 03/2014

Pages: 285

Full Study Price: US$ 5,100

Per Page Price: US$ 35.00 (text) | 60.00 (table)

Wind Turbine Systems - Industry Market Research, Market Share, Market Size, Sales, Demand Forecast, Market Leaders, Company Profiles, Industry Trends

US demand for wind turbine systems is forecast to reach $18.9 billion in 2018, a nearly nine-fold increase over severely depressed 2013 levels. The market for wind turbines tends to be highly volatile due to its reliance on government incentives. Feed-in tariff payments and various grants from the Department of Energy will drive gains going forward.

This study analyzes the $2.1 billion US wind turbine system industry. It presents historical demand data for 2003, 2008 and 2013, and forecasts for 2018 and 2023 by type (horizontal axis, vertical axis), component (e.g., nacelle, rotor system, towers), application (e.g., electric power generation by utilities, distributed electric power generation) and US region.

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 36 industry players, including General Electric, Vestas Wind Systems and Siemens.

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				    TABLE OF CONTENTS

     SECTION									    PAGE

		INTRODUCTION							       x

	I.	EXECUTIVE SUMMARY						       1

	II.	MARKET ENVIRONMENT						       4
		General								       4
		Macroeconomic Trends						       4
		Consumer Spending Trends					       8
		Demographic Trends						      11
		Manufacturers' Shipments					      15
		Construction							      19
		   Building Construction					      21
		   Nonbuilding Construction					      23
		Electric Power Generation					      25
		Energy Consumption						      28
		Environmental & Other Regulatory Considerations			      30
		Government Incentives						      33
		   State & Municipal						      34
		   Federal							      35

	III.	WORLD MARKET							      37
		General								      37
		Wind Turbine Systems by Region					      38
		   Western Europe						      40
		   North America						      41
		   Asia/Pacific							      42
		   Rest of World						      44
		Wind Turbine Demand by Leading Countries			      46

	IV.	WIND TURBINE SYSTEMS						      48
		General								      48
		Wind Power Systems						      50
		Types of Wind Power Systems					      55
		   Horizontal Axis						      56
		   Vertical Axis						      58
		Wind Turbine System Components					      61
		   Nacelle							      64
		      Generator & Power Electronics				      65
		      Gearbox & Drivetrain					      67
		      Frame & Cover						      69
		      Other							      70
		   Rotor System							      72
		      Blades							      73
		      Hub Assemblies						      77
		      Pitch Mechanisms & Bearings				      77
		      Nose Cones						      78
		   Towers							      79
		      Monopole							      80
		      Lattice							      82
		   Balance of System Components					      83

	V.	APPLICATIONS							      85
		General								      85
		Electric Power Generation by Utilities				      86
		   Owners							      87
		      Independent Power Producers				      89
		      Investor-Owned Utilities					      91
		      Public Utilities						      94
		      Cooperative Groups					      97
		   Location							      99
		      Onshore							      99
		      Offshore							     100
		Distributed Electric Power Generation				     103
		   On-Grid							     107
		   Off-Grid							     111

	VI.	REGIONAL MARKETS						     114
		General								     114
		Regional Demographic & Economic Trends				     115
		   Population Patterns						     115
		   Economic Outlook						     118
		   Construction Activity					     121
		   Housing Trends						     123
		Regional Demand for Wind Turbine Systems			     126
		   Northeast							     130
		      New England						     133
			Subregional Installed Capacity				     134
			Renewable Portfolio Standards				     136
		      Middle Atlantic						     139
			Subregional Installed Capacity				     141
			Renewable Portfolio Standards				     143
		   Midwest							     145
		      East North Central					     149
			Subregional Installed Capacity				     151
			Renewable Portfolio Standards				     153
		      West North Central					     155
			Subregional Installed Capacity				     157
			Renewable Portfolio Standards				     158
		   South							     161
		      South Atlantic						     164
			Subregional Installed Capacity				     166
			Renewable Portfolio Standards				     167
		      East South Central					     169
		      West South Central					     172
			Subregional Installed Capacity				     174
			Renewable Portfolio Standards				     176
		   West								     177
		      Mountain							     180
			Subregional Installed Capacity				     182
			Renewable Portfolio Standards				     184
		      Pacific							     188
			Subregional Installed Capacity				     190
			Renewable Portfolio Standards				     192

	VII.	INDUSTRY STRUCTURE						     195
		General								     195
		Market Share							     198
		Competitive Strategies						     202
		Research & Development						     203
		Marketing							     205
		Distribution							     207
		Acquisitions & Divestitures					     208
		Cooperative Agreements						     211
		Company Profiles						     213
		   ABB Limited							     214
		   Acciona SA							     216
		   American Superconductor Corporation				     217
		   Ark Alloy LLC						     219
		   Bergey WindPower Company					     220
		   Cascade Engineering Incorporated				     221
		   China Guodian Corporation					     222
		   Clipper Windpower LLC					     223
		   Daewoo Shipbuilding & Marine Engineering Company		     224
		   Eaton Corporation plc					     225
		   Elyria Foundry Company LLC					     227
		   Gamesa Corporación Tecnológica SA				     228
		   General Electric Company					     230
		   GreenEnergy Technologies LLC					     232
		   Kaydon, see SKF
		   LM Wind Power Holding A/S					     233
		   Mitsubishi Heavy Industries Limited				     234
		   Molded Fiber Glass Companies					     236
		   Nordex SE							     237
		   NTN Corporation						     238
		   Otter Tail Corporation					     240
		   PPG Industries Incorporated					     241
		   Rotek, see ThyssenKrupp
		   SANY Group Company Limited					     244
		   Schaeffler Group						     245
		   Senvion, see Suzlon Energy
		   SGL Carbon SE						     247
		   Siemens AG							     249
		   SKF AB							     252
		   Smith Services, see Timken
		   Suzlon Energy Limited					     255
		   ThyssenKrupp AG						     257
		   Timken Company						     259
		   TPI Composites Incorporated					     262
		   Trinity Industries Incorporated				     264
		   UpWind Solutions Incorporated				     265
		   Valmont Industries Incorporated				     266
		   Vestas Wind Systems A/S					     267
		   Wazee Companies, see Timken
		   Windspire Energy, see Ark Alloy
		   Winergy, see Siemens
		   Xinjiang Goldwind Science & Technology 
		      Company Limited						     269
		   XZERES Corporation						     270
		Other Companies Mentioned in the Study				     272


				      LIST OF TABLES

    TABLE NUMBER								    PAGE


		SECTION I -- EXECUTIVE SUMMARY
		Summary Table							       3

		SECTION II -- MARKET ENVIRONMENT
	1	Macroeconomic Indicators					       8
	2	Personal Consumption Expenditures				      11
	3	Population & Households						      15
	4	Manufacturers' Shipments					      19
	5	Construction Expenditures					      21
	6	Building Construction Expenditures				      23
	7	Nonbuilding Construction Expenditures				      25
	8	Electric Power Generation					      28
	9	Energy Consumption						      29

		SECTION III -- WORLD MARKET
	1	World Wind Turbine System Demand by Region			      39
	2	World Wind Turbine Demand by Leading Countries			      46

		SECTION IV -- WIND TURBINE SYSTEMS
	1	Wind Turbine System Market, 2003-2013				      49
	2	Wind Turbine System Demand					      54
	3	Wind Turbine System Demand by Type				      56
	4	Horizontal Axis Wind Turbine System Demand			      58
	5	Vertical Axis Wind Turbine System Demand			      61
	6	Wind Turbine System Demand by Component				      63
	7	Wind Turbine Nacelle Demand by Component			      65
	8	Generator & Power Electronics Demand				      67
	9	Gearbox & Drivetrain System Demand				      69
	10	Nacelle Frame & Cover Demand					      70
	11	Other Nacelle Components Demand					      72
	12	Wind Turbine Rotor System Demand by Component			      73
	13	Wind Turbine System Tower Demand				      80
	14	Wind Turbine Balance of System Components Demand		      84

		SECTION V -- APPLICATIONS
	1	Wind Turbine System Demand by Application			      86
	2	Utility-Scale Wind Turbine System Demand			      87
	3	Utility-Scale Wind Turbine System Demand by Owner		      88
	4	Independent Power Producer Demand for Wind Turbine 
		   Systems							      91
	5	Investor-Owned Utility Demand for Wind Turbine Systems		      94
	6	Public Utility Demand for Wind Turbine Systems			      96
	7	Cooperative Group Demand for Wind Turbine Systems		      99
	8	Distributed Electric Power Generation (Small Wind) 
		   Demand for Wind Turbine Systems				     107
	9	On-Grid Distributed Power Wind Energy (Small Wind)  
		   System Demand						     110
	10	Off-Grid Distributed Power Wind Energy (Small Wind)  
		   System Demand						     113

		SECTION VI -- REGIONAL MARKETS
	1	Population by Region						     118
	2	Gross Domestic Product by Region				     121
	3	Construction Expenditures by Region				     123
	4	Regional Housing Indicators					     126
	5	Wind Turbine System Demand by Region				     129
	6	Northeast Wind Turbine System Demand				     133
	7	New England Wind Energy Installed Capacity by State,  
		   2003-2013							     136
	8	New England Renewable Portfolio Standards by State, 
		   2013-2025							     139
	9	Middle Atlantic Wind Energy Installed Capacity by State,  
		   2003-2013							     142
	10	Middle Atlantic Renewable Portfolio Standards by State, 
		   2013-2025							     145
	11	Midwest Wind Turbine System Demand				     149
	12	East North Central Wind Energy Installed Capacity by State,  
		   2003-2013							     153
	13	East North Central Renewable Portfolio Standards by State, 
		   2013-2025							     155
	14	West North Central Wind Energy Installed Capacity by State,  
		   2003-2013							     158
	15	West North Central Renewable Portfolio Standards by State, 
		   2013-2025							     161
	16	South Wind Turbine System Demand				     164
	17	South Atlantic Wind Energy Installed Capacity by State,  
		   2003-2013							     167
	18	South Atlantic Renewable Portfolio Standards by State, 
		   2013-2025							     169
	19	East South Central Wind Energy Installed Capacity by State,  
		   2003-2013							     171
	20	West South Central Wind Energy Installed Capacity by State,  
		   2003-2013							     176
	21	West Wind Turbine System Demand					     180
	22	Mountain Wind Energy Installed Capacity by State, 
		   2003-2013							     184
	23	Mountain Renewable Energy Portfolio Standards by State, 
		   2013-2025							     187
	24	Pacific Wind Energy Installed Capacity by State, 2003-2013	     191
	25	Pacific Renewable Energy Portfolio Standards by State, 
		   2013-2025							     194

		SECTION VII -- INDUSTRY STRUCTURE
	1	Wind Turbine System Sales by Company, 2013			     198
	2	Selected Acquisitions & Divestitures				     210
	3	Selected Cooperative Agreements					     212

		      LIST OF CHARTS

    CHART NUMBER								    PAGE


		SECTION III -- WORLD MARKET
	1	World Wind Turbine System Demand by Region, 2013		      40
	2	World Wind Turbine Demand by Leading Countries, 
		   2003-2023							      47

		SECTION IV -- WIND TURBINE SYSTEMS
	1	Wind Turbine System Market, 2003-2013				      50
	2	Relationship Between New Installed Wind Capacity 
		   & Cumulative Installed Wind Capacity, 2003-2013		      55
	3	Wind Turbine System Demand by Component, 2013			      64

		SECTION V -- APPLICATIONS
	1	Utility-Scale Wind Turbine System Demand by Owner, 
		   2013								      89

		SECTION VI -- REGIONAL MARKETS
	1	Wind Turbine System Demand by Region, 2013			     130

		SECTION VII -- INDUSTRY STRUCTURE
	1	Wind Turbine System Market Share, 2013				     200



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