Research from Moody's, the ratings agency, has shown that Brazil, Africa and India will see significant growth over the coming five years. Their research found that a shift will occur in the mature energy markets in America and Europe due to developing nations, thanks to the new COP21 agreement between their respective governments.
China alone installed 145GW of fresh capacity in 2015, which exceeded the total installed capacity in the EU of 141GW - a new record.
In fact, 62pc of orders for new wind turbines came from emerging markets last year.
Thanks to the increased investment in green energy across those emerging economies, firms such as GE, Siemens, Gamesa and Vestas are likely to see an upturn in sales during the next five to ten years.
Moody's expects to see this trend continuing as subsidy schemes decrease and strong positions onshore in developed countries lead to a lesser demand across the US and Europe. In fact, it expects to see a demand reduction of 5-10pc in the EU over the next two years.
A proposal for ratifying the recent Paris agreement has now been presented to participant governments by the European Commission. The Climate Change Conference was the 21st held by the UN to tackle climate change at a global level, and it focused on looking at an increase in investments in green energy to help meet challenging targets for carbon dioxide emission reductions. The hope is that the investment increases will support sales for turbine manufacturers in the wind sector.
Moody's expects to see the outcomes of the conference, combined with a broadly accepted need for greater renewable energy, to help continue the growth of green energy markets. The news will be positive for those firms and investors looking for greater security.