Research and Markets has announced the addition of the “Q2 2014 Global Wind Market Update – Growth Continues” report to their offering.
Global new firm order inflow for Q2 2014 increased by around 80% over Q1 2014 levels while the same increased by around 3% over Q2 2013 levels. The Global market has improved with 2014 installation likely to reach 43GW, growth of almost 20% over 2013.
Similar to the first quarter of 2014, the US maintained its position as the largest market for wind turbine orders in Q2 2014, followed by Netherlands, Brazil, India and Canada. Around 1,471 Megawatts (MW) of wind turbine contracts were signed in the US, which accounted for around 28% of the global total.
In 2013, Offshore wind installations in the UK, Denmark, Belgium and Germany helped Europe remain the leader in offshore wind development. In 2014, Germany and the UK are expected to continue playing a significant role in European offshore wind market. In the Asia-Pacific region, China is expected to lead the way in terms of offshore wind installations. The Average wind turbine prices were around $1.10m/MW in Q2 2014.
Most of the major wind turbine manufacturers are enjoying higher order backlogs in Q2 2014 due to revival in order activity. Turbine maintenance continues to provide steady revenue for turbine OEMs. O&M EBIT margins for OEMs have improved due to recovery in volumes, cost cutting measures and improvement in turbine yield. O&M revenue opportunity is motivating technological innovations and service improvement to meet the dynamic needs of the wind industry O&M business.
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Press release; Image: flickr