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European Wind Energy Markets
Frost & Sullivan, Sep 2011, Pages: 69
RESEARCH OVERVIEW
This Frost & Sullivan research service titled European Wind Energy Markets provides in-depth analysis of key market trends and growth sectors. It also offers revenue forecasts. In this research, Frost & Sullivan's expert analysts thoroughly examine the following application sectors: offshore and onshore wind energy.
This analysis is available through our Energy & Power Growth Partnership Services programme. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services programme ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market.
MARKET OVERVIEW
Renewable Energy Targets to Power Wind Energy Market
The European wind energy market is just starting to recover from the economic downturn in 2009. As demand stabilises, steady growth is forecast. At the same time, the market is poised for greater consolidation that will result in the emergence of fewer but stronger participants. “Europe’s wind energy market is primarily driven by the European Union’s renewable energy agenda to meet 20 per cent of its energy needs through renewable sources by 2020,” notes the analyst of this research. “The high growth potential of offshore wind energy, coupled with the emerging markets of Central and Eastern Europe (CEE) are attracting investments in the European market.”
Wind energy will remain a significant contributor to the European Union (EU) member states’ energy portfolio as they attempt to achieve the EU 2020 target. Germany, Spain and France continue to install more wind power facilities and are planning to exceed their targets and provide the surplus energy to the other EU member states. The United Kingdom is relying heavily on offshore wind development to achieve the 2020 target. The CEE region will emerge as a low cost, low technology market. This will make it an attractive market for Asian manufacturers.
Dual-Track Approach Needed to Leverage Opportunities in both Western and CEE Markets
While the western European market is difficult to enter, the emerging CEE markets will be driven more by price than by technology, thus posing low barriers to entry. For offshore technology, the timing is important; although having a track record is critical. Companies that wait too long for others to lead and prove the technology, run the risk of missing out on growth opportunities. In the mature Western European market, companies need to deliver not only the best technology, but also outstanding service packages to maintain or acquire market share. In the emerging CEE markets, wind turbine manufacturers will need to be extremely efficient and cost-competitive to be able to sustain price wars.
Early movers in the offshore wind segment will benefit from capturing a significant market share and building their track records. In addition, they will gain vital experience in seeking financing for offshore wind farms. “European manufacturers will have to continue producing technologically superior wind turbines at competitive prices,” advises the analyst. “They can exploit their technology leadership position to develop advanced offshore wind turbines with higher capacities, which will allow them to reap benefits through market share leadership and economies of scale.”
MARKET SECTORS
Expert Frost & Sullivan analysts thoroughly examine the following application sectors:
- Offshore wind energy
- Onshore wind energy
REASONS TO BUY
This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth.
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