The global economic turmoil has started having an impact on the wind energy industry in Europe. Some companies are cutting down forecasts and production for 2009 and the market is showing the first signs of slowdown.
"The current economic situation is slowly affecting the wind energy industry," remarks Frost & Sullivan Research Analyst Gouri Nambudripad. "We are going to see a slowing down of the double-digit growth rates that were witnessed in the past few years. Some market players are reducing their aggressive production and development targets and this is going to trickle down the supply chain". This situation will have positive effects like reduction in turbine prices (due to fall in raw material prices), the reduction of delivery times of components leading to a more balanced demand supply situation. Read the full article
