US and China fears cloud wind's prospects, GWEC says

GWEC says the outlook for the next few years is "a bit sombre"

The Global Wind Energy Council (GWEC) says the outlook for the wind business over the next few years is “a bit sombre” compared with previous forecasts, as uncertainty clouds the prospects for China and the US – the world’s two largest markets.

The global wind market rebounded to a modest 6% growth in 2011 – putting on 40.5GW – after a 2010 which saw annual additions decline for the first time in decades.

But in its annual market update, GWEC says the mid-term future will likely be tough for many players in the wind business, and particularly for turbine manufacturers, “with chronic oversupply adding to existing downward price pressure from general economic conditions to cut margins dramatically.

“Overall, we expect to see average annual market growth rates of about 8% for the next…

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