Forecast on offshore wind industry

Siemens and Borkum Riffgrund 1 offshore wind plant

Global offshore wind capacity will surge to over 234 GW by 2030 from 29.1 GW at the end of 2019, led by growth in the Asia-Pacific region and Europe, according to a new report from the Global Wind Energy Council (GWEC).

Top 5 markets for new offshore installations in 2019

China – 2.4 GW

The UK – 1.8 GW

Germany – 1.1 GW

Denmark – 374 MW

Belgium – 370 MW

Top 5 markets for cumulative offshore installations in 2019

The UK – 9.7 GW

Germany – 7.5 GW

China – 6.8 GW

Denmark – 1.7 GW

Belgium – 1.6 GW

Top 5 markets forecasted for cumulative offshore wind installations by 2030

China – 58.8 GW

The UK – 40.3 GW

US – 22.6 GW

Germany – 20 GW

Netherlands – 11.4 GW

Offshore wind industry has added 6.1 GW of new capacity globally, bringing total global cumulative installations to 29.1 GW.

China remains in the number one spot for the second year in a row for new installations, installing 2.4 GW, followed by the UK at 1.8 GW and Germany at 1.1 GW.

Europe continues to be the leading region for offshore wind.

Countries in the Asia-Pacific region, such as Taiwan, Vietnam, Japan, and South Korea, as well as the US market are picking up the pace and will be regions of significant growth in the next decade.

Offshore wind industry will add more than 205 GW of new offshore wind capacity, including at least 6.2 GW of floating offshore wind, through 2030.

“The report shows that 900,000 jobs will be created in the offshore sector over the next decade – and this number can only increase if policymakers put in place recovery strategies that can further accelerate growth of the sector,” Ben Backwell, CEO at GWEC.

Europe remains the largest market for offshore wind as of the end of 2019, making up 75 per cent of total global installations. Europe will continue to be a leader in offshore wind, with an ambitious 450 GW goal by 2050 driven by installations in the UK, Netherlands, France, Germany, Denmark and Poland, with several other EU markets posting double-digit volumes.

North America currently has just 30 MW of offshore wind capacity in operation at the end of 2019, but deployment will accelerate in the coming years with 23 GW forecasted to be installed by 2030.

China is expected to add 52 GW of new offshore wind capacity by 2030. Taiwan will become the second-largest offshore wind market in Asia after Mainland China, with a goal of 5.5 GW by 2025 and an additional 10 GW by 2035.

Other markets in the region are also beginning to scale-up their offshore wind markets, with Vietnam, Japan and South Korea expected to install 5.2 GW, 7.2 GW and 12 GW of offshore wind capacity respectively.