London, England -- (SBWIRE) -- 03/15/2012 -- Global wind energy installed capacity is expected to increase at a CAGR of 26.2% from 74,107 MW in 2006 to 237,354 MW in 2011 of which 39,151 MW is expected to come online in 2011. Global wind power markets recovered in 2011 after a 10.9% fall in annual additions in 2010 as major wind markets such as the US, Germany and Spain faced economic problems following the global economic crisis. Wind power has become an important player in the global energy market, with the growing equipment market creating many employment opportunities. Wind turbine installations in 2010 amounted to more than $38.3 billion. The industry also provides employment to over 450,000 people worldwide. The exponential growth of the wind energy market is fueled by depleting fossil fuel reserves, the declining cost of wind power generation and a growing sensitivity for the environment supported by financial incentives by various governments across the world. China, the US, Germany, Spain and India are the major wind markets in the world accounting for a 72.3% share of the global cumulative installed capacity in 2011.

The growth of major wind power markets (the US, Germany, Spain, France, Italy, India and China) is expected to slow down during the forecast period 2011–2020. Emerging markets from Asia-Pacific and South and Central America will gain a considerable market share. The growing Asia-Pacific wind power market powered by India, China and other emerging countries such as Republic of Korea, Thailand and Philippines will continue to drive the market in the region. Countries such as Argentina, South Africa, Philippines, Ukraine, Brazil, Republic of Korea and Mexico are some of the nascent wind markets which are set to expand rapidly in the forecast period. Against this backdrop the global wind power installed capacity will reach 718,052 MW by 2020.

China’s wind power market is growing at an enormous pace and emerged as the largest wind market in the world in 2010 when it surpassed the US. The country has transformed its position in the wind industry from a mere player in 2001 to a market leader in 2010 on the basis of strong government support for the industry. The cumulative installed capacity of wind power in China has increased from 2,604 MW in 2006 to 60,307 MW in 2011 at a CAGR of 87.5%. Government support in the form of favorable rules and regulations and a speedy approval process drove the Chinese wind market to achieve a Y-o-Y growth rate exceeding 100% during 2006–2009.

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The country added 13.8 GW of installed capacity in 2009, doubling the capacity for the fourth year in a row to 25.9 GW. In 2010, China added 18.8 GW of annual capacity at an annual growth rate of 72.4% and in 2011 the growth in annual growth rate further slipped down to 34.8%. Supportive government policies which include an attractive concessional program and theavailability of low cost financing from government banks are critical reasons for the success of the Chinese wind power market. It is expected that China will continue to promote wind power in order to reduce its carbon footprint and increase rural electrification.

“Wind Operations & Maintenance (O&M) Market - Global Market Size, Share by Component, Competitive Landscape and Key Country Analysis to 2020” is the latest report from GlobalData, the industry analysis specialists that offer comprehensive information and understanding of the Global Wind O&M market. The research provides an understanding of the technology, key drivers and challenges in the global wind power market. It also provides historical and forecast data to 2020 for installed capacity and power generation. The report details global market size of wind O&M market, market share by company type (Original Equipment Manufacturers, Independent Service Providers and In-house), O&M market share by onshore - offshore wind market and key company analysis. Major countries analyzed in the report include China, the US, Germany, Spain, and India.

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