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Preliminary Data Indicates Change in Global Wind Turbine OEM Market Leader

  Preliminary Data Indicates Change in Global Wind Turbine OEM Market Leader

Navigant’s BTM Consult Releases Preliminary Turbine OEM Rankings and Report
Highlights from World Market Update 2012

Business Wire

CHICAGO & COPENHAGEN, Denmark -- February 11, 2013

BTM Consult, a leading forecaster and data source for the international wind
industry, and part of Navigant’s Global Energy Practice, announced today its
preliminary ranking for the top 5 turbine original equipment manufacturers
(OEMs), due to be officially released in late March in the World Market Update
2012.

Preliminary results^1, show GE Wind dominating the U.S. market, and replacing
Vestas as the global market leader. Rankings and observations are subject to
change based on continual data review and quality control checks conducted
between now and the report release date, however, at this point in time, the
following rankings have been assigned by BTM Consult:

                                         
Ranking     Turbine OEM      Status       Comment
                                                      Up from 3^rd position in
1.          GE Wind*         Moved Up     2011, driven by U.S.
                                                      installations
                                     Moved            Down from 1^st position
2.          Vestas*          Down         for the first time since
                                                      2000
3.          Siemens*         Moved Up     Up from 9^th position in
                                                      2011
4.          Enercon*         Moved Up     Up from 5^th position in
                                                      2011
5.          Suzlon           Moved Up     Up from 6^th position in
                Group**                               2011
                                     
* Based on preliminary data          ** Based on preliminary internal data
                                     review
                                     

^1 Based upon information provided by the manufacturers themselves

Preliminary World Market Update 2012 Ranking Highlights^† from 2012:

  *Vestas is displaced from the No. 1 position for the first time since
    claiming the top spot from NEG Micon in 2000
  *GE Wind ascends from No. 3 to No. 1 position, boosted by the rush to
    capitalise on the U.S. Production Tax Credit, with more than 15 percent
    global market share in 2012
  *Despite a rapid ascent to global No. 2 in 2011, Goldwind drops out of the
    Top 5
  *Gamesa falls out of the Top 5, driven by the moratorium in its home market
    of Spain
  *While the four leading Chinese turbine OEMs, Goldwind, United Power,
    Sinovel, and Mingyang are included in the Top 10, none are among this
    year’s Top 5
  *Sinovel continues to drop in the rankings, narrowly maintaining its
    position in the Top 10

The 150+ page World Market Update 2012 will be BTM Consult’s eighteenth
edition of this annual wind energy market report. The report will include more
than 80 tables, charts and graphs illustrating global wind market development,
as well as a wind market forecast for 2013 - 2017 and predictions for the wind
market through 2022.

Additional highlights from 2012 include:

1.Although policy uncertainty plagued a number of key markets – including
    Spain, Italy, France, Portugal, the UK, the U.S., India, Australia, and
    Japan – 2012 saw record global installations, driven by China and the
    U.S., together comprising more than 60 percent of the global market.
2.Key Asian markets (China and India) were impacted by delayed payments.
    India delayed payments from utilities to power generators, up to 14 months
    in some cases. Severe delays in payment of surcharge subsidies for
    renewables in China, in cases up to two years, have tightened cash flow
    throughout entire value chain.
3.A shift in technology back to traditional doubly-fed induction
    generatorsand towards medium speed hybrid drives.
4.A global shift in energy systems, with a resurgence of oil and gas (driven
    by shale), continued nuclear withdrawal, and a growing focus on energy
    efficiency.
5.A lack of transmission build-out has constrained development in both land
    based (e.g., China, Brazil, Mexico, Germany, and the U.S.) and offshore
    development (namely Germany).
6.While capacity factor improvements have continued to bring down wind’s
    levelised cost of energy, the announcement of new shale gas extraction
    plans have brought the natural gas prices down to lowest level since 2002,
    making the generation cost of wind power less competitive.
7.Emerging markets such as Latin America and Eastern Europe are being
    closely watched as meeting pricing and local content requirements are
    becoming decisive competitive parameters.
8.Wind turbine prices dropped by as much as 20-25 percent in western
    markets, and more than 35 percent in China (compared with the 2008 peak
    prices) before stablising in 2012.
9.Turbine vendors are taking on more risk under tough market conditions in
    an effort to increase their market share of the growing turbine
    maintenance market which will ultimately provide more stable margins and
    recurring revenues.
10.While the steadily expanding offshore wind sector has seen the increased
    availability of financing from institutional investors, it still needs
    utilities with project development and management experience to take on
    construction risk.

For more information about the upcoming World Market Update 2012, please
contact:

Denmark:                                             
Per Krogsgaard at         per.krogsgaard@navigant.com         + 45 97 32 52 99
Birger T. Madsen          birger.madsen@navigant.com          + 45 97 32 52 99
Feng Zhao                 feng.zhao@navigant.com              + 45 97 32 52 99

United Kingdom:
Aris Karcanias            aris.karcanias@navigant.com         +44 207 015 8723

United States:
Bruce Hamilton            bruce.hamilton@navigant.com         +1 503 476 2711
                                                              

About BTM Consult

Founded in 1986, Denmark‐based BTM Consult is a premier forecaster and data
source for the international wind energy sector. Since 1996 BTM Consult has
annually published the highly regarded International Wind Energy Development:
World Market Update, in addition to several other recurring globally‐focused
wind market reports, including its first release of the Offshore Wind Report
in 2010. On December 20, 2010, BTM Consult became part of Navigant’s global
Energy practice. Additional information about BTM Consult can be found at
www.navigant.com/btm.

About Navigant

Navigant (NYSE: NCI) is a specialised, global expert services firm dedicated
to assisting clients in creating and protecting value in the face of critical
business risks and opportunities. Through senior level engagement with
clients, Navigant professionals combine technical expertise in Disputes and
Investigations, Economics, Financial Advisory and Management Consulting, with
business pragmatism in the highly regulated Construction, Energy, Financial
Services and Healthcare industries to support clients in addressing their most
critical business needs. More information about Navigant can be found at
www.navigant.com.

* The information contained in this press release concerning the report,
“International Wind Energy Development – World Update 2012,” is preliminary
and summarized, and reflects BTM Consult’s current expectations based on
market data and trend analysis. BTM Consult’s market predictions and
expectations are inherently uncertain and actual results may differ materially
from those contained in this press release or the final report. Please refer
to the full BTM Consult report for a complete understanding of the assumptions
underlying the report’s conclusions and the methodologies used by BTM Consult
to create the report. Neither BTM Consult nor Navigant undertakes any
obligation to update any of the information contained in this press release or
the report.

Contact:

Navigant
Laverne Murach, +1 202-481-7336
laverne.murach@navigant.com
or
Navigant Investor Relations
Paul Longhini, +1 312-583-5836
plonghini@navigant.com
 
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