GE Gaining Market Share In Wind Turbine Business

General Electric’s share of the wind turbine business is growing, while global leader Vestas share is falling according to a study released today.

Bloomberg: Vestas had 19.8 per cent of the market compared with 22.8 per cent in 2007, while GE Energy increased its share to 18.6 per cent from 16.6 per cent, Ringkoebing, Denmark-based BTM Consult APS said today on its Web site in an excerpt of its 2008 report. The turbine market will grow an average 15.7 per cent annually in the next five years, compared with 27.6 per cent in the previous five years, the renewable-energy consultant said.

Also in the report, a reminder that wind power isn’t ready for primetime and it won’t be any time soon: 1.3% of the world’s electricity is provided by wind. BTM only sees it getting to 3.35% by 2013, 8% by 2018. Still, BTM sees big growth for wind installations, going from 28,190MW today to 343GW in 2013.

China, France and the US are the fastest growing countries for wind installations.

Image Courtesy of Vestas Wind Systems A/S.

[Via: Environmental Capital]

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