Asia Pacific dominates global wind market with 71% share

Record installations highlight the region's renewable energy surge.

The Global Wind Energy Council (GWEC) has identified the Asia Pacific region as the largest contributor to the global wind energy sector, accounting for 71% of the market and identifying 2023 as a record year for renewable energy.

Liming Qiao, Head of Asia at GWEC, said, "2023 was a record year for renewables with new installations of 510 gigawatts, an increase of almost like 50% compared with the previous year," Qiao stated. Specifically, wind energy installations were notably robust, contributing 117 gigawatts to the total. 

Qiao detailed that these installations comprised 100 gigawatts from onshore and approximately 10 gigawatts from offshore sources. "And all this happening is against a bigger background or bigger context of lots of headwinds around like the permitting timeline, the grid availability, and a very volatile microeconomic environment," she explained.

However, Qiao was quick to point out that this growth, while impressive, is insufficient in the broader climate context. "But this is not enough for us to limit our global warming within 1.5 degrees to reach our triple of renewable target," she emphasised. 

The GWEC report suggests that a more accelerated pace in renewable energy investments, supply chain resilience, and public consensus on wind development are critical to achieving these ambitious climate goals.

Focusing on the Asia Pacific region, Qiao noted that it was the world's largest wind market last year, with new installations totaling about 83 gigawatts. "This represents nearly a year on year growth of like 11% from 2010. Until now," she said. China leads this surge, with a significant 75 gigawatts installed last year alone, marking over a 100% increase from the previous year. India follows as a major player in the region, with about 2.8 gigawatts installed.

Beyond these leaders, other Asian countries like Australia and Vietnam are also making notable contributions to the sector. Taiwan and Japan are increasingly focusing on offshore wind capabilities, indicating a shift in market dynamics towards this emerging sector.

The discussion also touched on the feasibility of GWEC's ambitious goal to triple wind installations globally. "It's feasible. But it's very challenging," Qiao admitted. She outlined several prerequisites needed to achieve this target, including ambitious national targets, streamlined permitting processes, and robust investments in infrastructure and supply chain development.

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