Industry Analysis & Industry Trends
The Wind Turbine Manufacturing industry has benefited from state and federal policies over the past five years. A majority of states require utilities to generate a portion of their electricity from renewable sources, including wind.The rapid evolution of wind turbines, and the potential rise of offshore wind in the coming years, has led to mergers as the industry's major players seek to combine research and development or gain access to new technology. Over the five years to 2021, industry revenue is projected to drop, however, it will retain significant growth potential, and is expected to emerge from the period increasingly viable against alternative sources of energy.
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Industry Report - Industry SWOT Analysis Chapter
The Wind Turbine industry is in the decline stage of its life cycle. Industry value added, which measures its contribution to the overall economy, is projected to decline at an annualized rate of 5.6% over the 10 years to 2021. US GDP, by contrast, is forecast to grow an annualized 2.2% over the same period. This indicates that the industry is rapidly falling as a share of the overall economy, largely due to the scheduled expiration of government renewable energy incentives, which have been the primary driver of demand for wind turbines over the past decade. The expiration of these incentives is anticipated to lead downstream utilities to frontload their purchases of wind turbines before their final year in 2019, after which demand will precipitously decline... purchase to read more