The wind power industry is on the verge of a structural change. While most of the companies involved in this market to date have been pioneers, the balance is shifting increasingly, with all the corresponding consequences for manufacturers and suppliers. The major utilities are devoting more and more attention to this area and adding wind power to their energy mix.
Wind power has grown significantly over the past few years, and a great deal of hope is pinned on this renewable energy source. At the end of 2009, the capacity of worldwide wind-powered generators covered about 2 percent of worldwide electricity usage.
Wind power is expected to grow annually by 13 percent until 2014. Although concerns are materializing that the recent economic downturn could set back wind power development, the long-term growth trend remains intact. Growth will be driven by the ambitious goals set by governments in core wind energy markets.
Europe was quick to embrace wind energy, and its pioneering companies enjoy world leadership in this field. Eight of the top ten global wind turbine manufacturers are of European origin.
However, as global competition increases, the hold of European pioneers on this market will likely slip, especially if they fail to lift their global sales and delivery capabilities.