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News Release
Cheaper electric cars could help Tesla hit targets by mid-2020s
- 09 January 2020
In Q3 2019, Tesla announced its plans to capture 1% of all car sales globally. With its current portfolio of luxury cars, the company is unlikely to meet that target by the end of the decade. However, if it launches an entry-level car priced at $25,000, Wood Mackenzie projects that Tesla will meet the 1% target as early as 2024.
News Release
Increased uncertainty to colour upstream sector’s decision-making in 2020
- 09 January 2020
The level of uncertainty and anxiety among upstream producers and supply chain has rarely been higher. In 2020, decision-making will be more heavily influenced by sentiment surrounding the energy transition, political upheaval and trade disputes than in previous years. This adds to the ever-present risks of unexpected supply-demand imbalance, niche cost inflation or a global economic downturn. What are the biggest trends to watch in the upstream oil and gas business in 2020? Fraser McKay, head of upstream analysis at Wood Mackenzie, sees five key themes.
News Release
China to dent global polyester growth in 2020
- 09 January 2020
Chinese polyester market growth is expected to sit at just below 3% in 2020, a marked decline from the strong growth seen between 2018 and 2019. This dip in performance is mainly due to slashed growth for bottle-grade PET, according to Wood Mackenzie.
News Release
China’s wind repowering market to boom from 2023
- 17 December 2019
According to a new report by Wood Mackenzie, China’s wind repowering market is expected to take off from 2023. More than 21 gigawatts (GW) (cumulative capacity) of China’s wind turbine fleet is expected to be repowered over the next 10 years (2019-2028).
News Release
Project delays and cancellations to dampen US microgrid growth through 2021
- 16 December 2019
Project cancellations and delays connecting planned projects to the electric grid will lead the US microgrid market to contract 17% from its 2018 peak by the end of this year, according to new research from Wood Mackenzie.
News Release
Anchor's aweigh as Chevron gives nod to US Gulf of Mexico development
- 12 December 2019
Chevron has given the green light to the Anchor development in deepwater US Gulf of Mexico. This is Chevron’s first greenfield final investment decision as an operator since its sanction of Big Foot and Jack/St Malo in 2010.
News Release
Was 2019 the year of recycled PET?
- 10 December 2019
2019 has been a year of successes within the recycled PET (RPET) industry.
News Release
US storage industry to build on strong third quarter with response to power shutoffs
- 03 December 2019
Installers have already shared anecdotes about growing residential storage volumes in California, and Wood Mackenzie expects a large uptick early next year as marketing efforts for solar-plus-storage started earlier this year bear fruit.
News Release
Australia’s east coast gas prices to bottom out over next two years
- 20 November 2019
In the latest Australia east coast gas market research, Wood Mackenzie projects that the LNG netback price for Australia’s east coast could bottom out to A$6.50 – A$9 per gigajoule (GJ) over the next two years.
News Release
Top three western wind turbine OEMs to control 60% of market by 2028
- 11 November 2019
After a decade of fragmentation, the top five global turbine OEMs are strengthening their hold on the industry. By 2028, they are expected to control three quarters of the sector.
News Release
Advanced lithium-ion technologies on track for record annual investment
- 01 November 2019
More than $350 million was invested in advanced lithium-ion technologies during the first half of 2019.
News Release
Renewables growth may close green hydrogen cost gap by 2030
- 22 October 2019
Green hydrogen production can compete with fossil fuel-based hydrogen by 2030 in Australia, Germany and Japan, should renewable power prices reach US$30 per megawatt hour (MWh), new research from global natural resources consultancy Wood Mackenzie indicates.
News Release
Global top 10 solar asset owners now hold 22 GW of capacity
- 04 October 2019
According to Wood Mackenzie’s inaugural global solar photovoltaic (PV) asset ownership ranking (excluding China)*, the world’s top 10 solar PV asset owners now hold over 22 gigawatts (GW) of cumulative solar capacity. Collectively, the top 10 added around 2.5 GW of new capacity in 2018.
News Release
Wind power outlook in Eastern Europe and Russia upgraded by 17% QoQ over next decade
- 25 September 2019
An auction-triggered awakening in Poland and a growing confidence in developers' ability to comply with local content requirements in Russia led to a 17% wind power capacity increase QoQ in Eastern Europe and Russia, according to new research from Wood Mackenzie.
News Release
Global automotive industry to drive industrial textile demand
- 23 September 2019
Airbags are a core and growing part of the industrial textile portfolio. Current global airbag yarn demand sits at 164 ktpa and is expected to reach 237 ktpa by 2025, according to a new report from Wood Mackenzie.
News Release
China’s e-bus stock to surpass 1 million mark by 2023
- 16 September 2019
Fuelled by public policy and declining battery costs, global electric bus adoption is set to triple by 2025. The Chinese market - the most promising in this sector - will surpass the 1 million e-bus mark by 2023 and reach 1.3 million by 2025, according to new research from Wood Mackenzie.
News Release
China’s steel demand growth to slow as property policy tightens
- 12 September 2019
Chinese president Xi Jinping’s mantra that “houses should be for living in, not for speculation” has been used to allude to the government’s policy to curb rising property prices for the past couple of years. Despite the cooling measures, steel demand in the property sector has shown resilience.
News Release
65GW of European onshore wind turbines need upgrades or replacements by 2028
- 09 September 2019
65GW of European onshore wind turbines will reach end-of-design-life by 2028. From 2019 to 2028, an average of 4GW of turbines per year that are reaching end-of-design-life will be lifetime extension (LTE) suitable, according to new research from Wood Mackenzie.
News Release
Global wind turbine fleet to consume over 5.5Mt of copper by 2028
- 02 September 2019
Over 650 GW of new onshore and 130 GW of new offshore wind capacity will be installed between 2018 and 2028. This will consume in excess of 5.5Mt of copper, according to a recent analysis by Wood Mackenzie.
News Release
China’s gas production to double to 325 bcm in 2040
- 28 August 2019
Though set to become the world’s third largest gas producer by 2027, China’s imports will still grow in the long term. One key contributing factor is lower forecast in domestic gas production particularly in shale gas and coal bed methane (CBM), according to recent research by Wood Mackenzie.
News Release
No-Deal Brexit won’t sound death knell for UK refiners
- 23 August 2019
Despite speculation that a No-Deal Brexit would have a severe impact on the UK refining industry, Wood Mackenzie’s analysis indicates that while the sector’s dynamics would shift and margins will narrow, it would not be crippled.
News Release
Resilience to drive US microgrid growth
- 08 August 2019
The US microgrid industry may find opportunities for substantial future growth in geographical areas that are repeatedly affected by power outages, as customers seek out resilient solutions, new research from Wood Mackenzie found.
News Release
Global solar PV installations to reach record high in 2019
- 25 July 2019
Global solar PV installations will reach a new high of 114.5 GW in 2019, up 17.5% on 2018, according to new research from Wood Mackenzie.
News Release
Permian midstream bottlenecks may choke output
- 24 July 2019
Rapidly rising production in the Permian basin has led to soaring levels of associated gas, outpacing pipeline infrastructure and placing increasing slowdown pressure on other production streams like crude oil and natural gas liquids (NGLs), Dr Eugene Kim, Research Director, Americas Gas, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.
News Release
Produced water poses growing risk to Permian production growth
- 24 July 2019
Rising produced water volumes and expanding costs pose a significant risk to production growth in the Permian basin, Ryan Duman, Senior Analyst, Lower 48, told delegates at the Unconventional Resources Technology Conference (URTeC) in Denver.
News Release
Europe’s flexible packaging market will be worth over €16 billion by 2023
- 23 July 2019
Europe's flexible packaging market is predicted to achieve a compound annual growth rate (CAGR) of 2% over the next five years to reach over €16 billion in 2023.
News Release
Spandex entering the big time as sales to hit 1 million tonnes by 2020
- 25 June 2019
As spandex closes in on sales of 1 million tonnes, industry structures will change to meet competition from China and the challenge of closed-loop recycling, according to recent Wood Mackenzie Chemicals research.
News Release
U.S. solar market sees best Q1 in history
- 18 June 2019
New findings from Wood Mackenzie Power & Renewables and SEIA's U.S. Solar Market Insight Report, Q2 2019
News Release
Unplanned wind turbine repairs to cost industry $8 billion+ in 2019
- 03 June 2019
Global onshore wind O&M costs will reach nearly $15 billion in 2019. Of that number, 57% - or $8.5 billion – will be spent on unplanned repairs and correctives caused by component failures, according to new research by Wood Mackenzie Power & Renewables.
News Release
Beetaloo could bring long-term gas supply to Australia's east coast market
- 29 May 2019
According to research by Wood Mackenzie, Australia's Beetaloo basin is the only new gas resource with sufficient scale to supply the east coast market in the long term.

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