There’s nothing like a little healthy competition.
During a presentation in Copenhagen on Monday, executives of German industrial behemoth Siemens said that the company plans to leverage the fledgling American market to become a leader in wind power.
“We want to be one of the leading companies on the American market,” Andreas Nauen, the chief executive of Siemens Wind Power, told the New York Times‘ Green Inc. blog. “We are on our way, and would like to play an important role. The U.S. market is, and will be in the future, an important market to us.”
The company’s challenge is steep: Rivals GE Energy and Vestas control about 18 percent and 19 percent of the market, respectively.
Meanwhile, Siemens has just 7 percent market share.
Siemens has been making moves in the space since 2004, when it acquired Danish wind turbine company Bonus Energy. The company believes that global power generation from renewable sources will grow to 17 percent by 2030, from less than 5 percent today.
Half of that will come from wind power, Siemens says.
According to the Green Inc. post, Siemen expects the global wind energy market to be worth nearly $300 billion by 2025. It’s currently worth about $40 billion.
With the United States and Canada just coming online now, there’s plenty of money to be had.
