A new study from market research firm ResearchMoz has revealed high growth in the wind markets around the world. The report also identifies China as an emerging leader in the renewable technology.
Wind power, which is the fastest growing alternate source of energy, is still attracting an increase in investment worldwide. Until 2010, Europe was considered to be the largest market for wind energy followed by Asia and North America. However, ResearchMoz say that due to increasing levels of investment, a long coastline and a large landmass, China is expected to become number one soon.
The global wind energy market is estimated to have had a 25% compound annual growth rate over the last five years and is expected to grow at an increasing double-digit growth rate.