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News Release from: Scottish Enterprise | Subject: Wind energy
Edited by the Processingtalk Editorial
Team on 24 May 2007
Huge growth forecast for Scottish wind
industry
The world wind market offers huge opportunities to Scottish companies with total global revenue over the next five years estimated at GBP35billion and continued growth forecast until at least 2025
The findings are from a new report commissioned by the Scottish Enterprise energy team and unveiled at All-Energy, the UK's biggest event for the renewable energy sector It is the second in a series of similar reports on the energy sector
This article was originally published on Processingtalk on 1 Aug 2003 at 8.00am (UK)
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The report provides specific market forecast information - such as a round-up of the biggest planned international wind projects - to help Scottish companies to diversify or expand into the wind energy supply chain, manage the risks of expansion into a new market, identify the most potentially lucrative markets and maximise the prospects of success.
Research carried out by AEA Energy and Environment found that while the European market remains strong, the US and Asian markets are seen as increasingly important by turbine manufacturers since they have greater potential growth.
The report identified products and services that Scottish companies could offer, with a potential market of more than GBP3.3billion in the UK to 2012.
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The value of construction is estimated at GBP1,440million, while product development alone is estimated at GBP320million, turbine components at GBP1,360million and operation and maintenance at GBP200million.
It also says growth in the sector is out-stripping the supply of turbines, creating opportunities for companies to gain market share.
It found Scottish companies - such as Balmoral Group, SGL Technic and Macom Technologies - had already established good market shares, creating an excellent platform for further growth.
The energy team hopes the research can be used by businesses across the whole of the industry to stay ahead of their competition and target their activities to where there are huge opportunities on offer.
Speaking at All-Energy, Scottish Enterprise energy director Brian Nixon said: "The wind industry is of increasingly vital importance as targets for energy generation through renewable sources keep rising, bringing major opportunities for Scottish companies in the supply chain.
We want to work with industry to make the most of the vast potential and by commissioning this research we are aiming to help Scottish companies get the edge over their competitors by providing information which will help them develop their businesses strategically.
The first report in the series was on the subsea sector and has already proved to be of great use".
"I would urge companies to access this information and use it to their advantage.'' Jason Ormiston, chief executive of Scottish Renewables, Scotland's green energy trade body, said: "Renewables can give a massive boost to Scotland's economy, not just in developing home-grown projects but in exporting expertise and equipment overseas.
Wind power is a mature, cost-effective technology that is leading the way for the growth of renewables world-wide and this Scottish Enterprise report should help give Scottish engineering companies the confidence to enter the wind power market''.
Colin McNaught, director of AEA Energy and Environment in Scotland, said: "The work AEA has done here with Scottish Enterprise will hopefully help the Scottish wind industry to break into potentially lucrative markets such as Asia and the US using Scottish markets as a stepping stone.
Accurate market information is a valuable tool in any industry, even more so in a developing sector such as wind energy'.'.
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