Global Information Inc. would like to present a new market research report, "World Turbines" by Freedonia Group.
Freedonias new 432-page study on the world market for turbines and related products such as turbine-based engines, generator sets, and generators, projects that this market will increase 6.1 percent yearly to reach $133 billion in 2014. The wind turbine sector will be the primary driver of growth. The large turbine engine segment, in particular, will post strong gains through 2014, which will be supported by increases in aircraft manufacturing due to surging demand from heavily populated developing countries in military and commercial applications.
U.S. demand for turbines is expected to climb 5.5 percent yearly through 2014. Meanwhile, demand in Western Europe should rise 4 percent annually through the forecast period. In terms of relative maturity, the West European wind energy sector is the most mature in the world. Currently, wind power fuels approximately 20 percent of electricity demand in Denmark; 11 percent in Ireland; 8 percent in Germany; and 15 percent in Spain and Portugal.