LONDON, March 30, 2015 (GLOBE NEWSWIRE) -- FTI Consulting, Inc. (NYSE:FCN), the global business advisory firm dedicated to helping organisations protect and enhance their enterprise value, today announced the release of FTI Intelligence's latest renewable energy publication, Global Wind Market Update – Demand & Supply 2014. This report is part of a series of data-driven publications evaluating competitive markets, policy, finance, technology and business models across the energy spectrum.
The report, Global Wind Market Update – Demand & Supply 2014, examines the global wind market evolution, forecasts for the wind market between 2015 and 2024, and assesses key market and technology trends and policy changes. The 175+ page report includes more than 60 tables, charts and graphs illustrating the development of the global wind market. The report is authored by members of the FTI-CL Energy practice, a cross-practice team of energy experts from FTI Consulting including experts from its subsidiary, Compass Lexecon.
After a challenging year in 2013, the global wind market bounced back in 2014, setting a record with more than 51.5GW, over 44 percent growth since 2013. This was mainly driven by record-breaking growth in China, Germany and Brazil, and the recovery of the U.S. wind market. Vestas was quick to capitalise on this growth by claiming the crown as the leading turbine OEM supplier for the second year in a row, with a commanding lead over Siemens, which placed second. Siemens had a record-breaking year for its onshore business, whilst China's Goldwind remained the dominant player in the Asian market coming in at third place. GE (fourth place) and Enercon (fifth place) rounded out the top five OEMs, capitalising on their dominance and growth in their respective home markets. This record-breaking year has come after a challenging few years of changing regulation in several established markets and a major overhaul shaking out a quarter of businesses across the supply chain.
Key findings in the Global Wind Market Update – Demand & Supply 2014 report include:
- Detailed rankings for turbine OEMs and wind farm owner-operators.
A graphic accompanying this release is available at http://media.globenewswire.com/cache/33891/file/32888.pdf
- An overview of major market events including turbine OEM business, product development and market segmentations.
- The historical and future outlook for established and emerging markets.
- Forecasts for the wind market from 2015 through 2024.
- Evaluates technology and major market trends.
- Reviews the market structures.
- Projects economics and the penetration of wind in key markets.
"To some extent, 2014 has proved that wind is still a politically-driven business. The record installations were mainly driven by the boom-and-bust fear created by the upcoming regulatory changes in China and Germany," explained Feng Zhao, Director in the FTI- CL Energy practice. "Although strong growth is expected in South and East Asia, and some emerging markets in Latin America in the next five years, market fluctuation is inevitable in some of the established markets in Europe and North America due to policy uncertainty."
"The wind industry has been through a major overhaul and has begun to shift away from FiT-based market mechanisms, and in several parts of the world is at grid parity. The wind industry has shown its resilience and ability to adapt, however the record 51.5GW installations disguise the underlying challenges the industry still faces," says Aris Karcanias, Managing Director at FTI Consulting and Co-Lead of the company's Clean Tech practice.
To purchase the FTI Intelligence Global Wind Market Update – Demand & Supply 2014 report in its entirety, visit the FTI Intelligence website at www.fti-intelligence.com or contact Feng Zhao at email@example.com or Aris Karcanias at firstname.lastname@example.org.
About FTI Intelligence
FTI Intelligence is a comprehensive online resource for energy markets news and research. In addition to the energy markets newsletters, FTI Intelligence hosts industry-related news and events, as well as comprehensively researched publications. These data-driven publications, available for purchase on the FTI Intelligence Webstore, will offer in-depth analysis and strategic insight on competitive markets, policy, finance, technology and business models across the energy spectrum for both established and emerging markets.
About the Report
The Global Wind Market Update – Demand & Supply 2014 examines the development of the land-based and offshore wind markets in 2014. Specifically, the report provides rankings for the major turbine OEMs and developers, market segmentation, technology trends, market structures and penetration rates, and wind market forecasts for 2015-2020 and predictions through to 2024. The views expressed in this work do not necessarily represent the views of the publisher, its management or employees, and the publisher is not responsible for, and disclaims any and all liability for the content of statements written by the authors of this work.
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organisations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 4,400 employees located in 26 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The Company generated $1.76 billion in revenues during fiscal year 2014. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTIConsulting), Facebook and LinkedIn.
Source:FTI Consulting, Inc.