Commodity Market Report

Q3 2018 Global Wind Power Market Outlook Update

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21 September 2018

Q3 2018 Global Wind Power Market Outlook Update

Report summary

Our forecasts annual wind power capacity additions total nearly 670GW from 2018 to 2027, with a compounded annual growth rate that exceeds 8% over the period. The broad transition globally to auction mechanisms continues to impact quarterly adjustments to the outlook as changes in auction guidelines and scope as well as auction award announcements determine market size, particularly in the near-term. In Q3, auction-related dynamics in Brazil, India, and Germany headline some of the drivers resulting in a change in expected capacity additions compared to the analysis in Q2. Overall, the adjustments to the global outlook are mostly concentrated in the 2018 to 2020 timeframe. Removing the five countries with the largest downgrades this quarter, the QoQ difference in total capacity over 10 years is less than 300MW, indicating relative stability globally, and supported by strong wind turbine order intake through the first half of 2018.

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