The global wind turbine market will only grow by 10 percent annually in 2011-16 and not 11 percent as earlier estimated, wind energy specialist MAKE Consulting said in a report.
Denmark-based MAKE Consulting lowered its forecast for the amount of wind turbine capacity that will be connected to the grid in the period up to 2016 to 315 gigawatts from an earlier forecast of 324 GW given three months ago.
The new forecast is primarily based on reduced expectations for the development in the United States and China.
According to the consultant company, Denmark’s Vestas Wind Systems retained last year its world-leading market position despite fierce competition from Chinese rivals rising up the ranks .
“The forecast for new erected capacity in China, sees on the other hand a significant reduction based on tightened conditions for project financing, and the introduction of stricter permitting and connection standards and procedures, thereby heavily impacting the supply chain,” MAKE said.