STEEP GROWTH, EVERYWHEREAsia dominates the global wind power market, accounting for just over 47% of the worldwide capacity growth in 2022, according to Ember.
Annual wind power generation capacity growth by regionOutside of Asia, Europe was the fastest growing region in terms of wind capacity in 2022, where installed capacity expanded by close to 20 GW, or by 8.4%.
North America was the next largest wind capacity developer, with 8.84 GW, followed by Latin America, which expanded capacity by 4.36 GW.
WIND GROWTH MORE BALANCED THAN SOLARWith just over half of all wind capacity growth occurring outside of Asia in 2022, global wind turbine producers and installation firms have had a larger share of international opportunities than their counterparts in the solar business.
In combination with continued strong demand for wind power supply capacity and substantially cheaper supply chain flows, the expected improvements in each firms' wind segment performance should also yield improvements in future financial metrics.
Persons:
gigawatts, Vestas, Gavin Maguire, Kim Coghill
Organizations:
Germany's Siemens Energy, Electric Co, Science & Technology, Siemens, GE, Reuters, Thomson
Locations:
LITTLETON , Colorado, United States, Danish, Xinjiang, Asia, Ember, China, Europe, North America, America, Africa, Oceania, Freightos