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According to a report released by the Wood Mackenzie Renewable Energy Agency, global offshore wind capacity is expected to increase nearly sixfold over the next decade, expanding from just 7 deployments at the end of 2017 to 18 countries
by 2027.
Wood Mackenzie predicts that not only will the global offshore wind industry begin to push the boundaries of the traditional European markets where the industry grows, but it will expand to 18 countries by 2027 and increase capacity nearly sixfold
.
As governments seek to strengthen local industries and provide more jobs for the local workforce, as well as geographical expansion in a handful of European markets, there is a focus
on local policies for developers and suppliers.
"While the impact of local policies has been limited so far, these policies will affect 72 percent of future demand," explains Soren Lassen, overseas analyst at Wood Mackenzie
.
One of the key factors for the global growth of the offshore wind industry will be the role of the next generation of wind turbines, which will start in the next decade and be between 10-12 MW in size, as wind turbine capacity increases, but the number of turbine installations is decreasing and stand-alone capacity continues to grow
.
According to Wood Mackenzie, the average pile weight per MW in Europe will be reduced by 36% by 2023, while the average installation time per MW of turbines and infrastructure in Europe has halved since 2010 and is expected to remain so
over the next decade.
Similarly, the transmission sector is experiencing what Wood Mackenzie analysts describe as "overall innovation" as capacity increases and materials decrease.
In addition, Wood Mackenzie expects the average capital expenditure for offshore wind projects in Europe to decline
rapidly as competition for wind farm development intensifies, wind turbine sizes increase, and economies of scale begin to emerge in the industry.
"Capex and operating expenditure across Europe are expected to decline by an average of 36% and 55%
by 2027.
" "On top of that, the average cost of offshore energy (LCoE) in Europe will also fall," which is expected to reach €53.
6/MWoE for grid-connected projects in Europe by 2027, compared to around €107/MWh in 2018
.
”
As global industries expand beyond traditional European borders, Europe's experience and expanded industries are beginning to expand the scope of
European supply chains and expertise.
The surge in demand for new markets has globalized European supply chains and prompted new suppliers to enter the market
.
Wood Mackenzie also expects offshore wind to become an increasingly attractive option
for the oil and gas industry.
According to a report released by the Wood Mackenzie Renewable Energy Agency, global offshore wind capacity is expected to increase nearly sixfold over the next decade, expanding from just 7 deployments at the end of 2017 to 18 countries
by 2027.
Wood Mackenzie predicts that not only will the global offshore wind industry begin to push the boundaries of the traditional European markets where the industry grows, but it will expand to 18 countries by 2027 and increase capacity nearly sixfold
.
As governments seek to strengthen local industries and provide more jobs for the local workforce, as well as geographical expansion in a handful of European markets, there is a focus
on local policies for developers and suppliers.
"While the impact of local policies has been limited so far, these policies will affect 72 percent of future demand," explains Soren Lassen, overseas analyst at Wood Mackenzie
.
One of the key factors for the global growth of the offshore wind industry will be the role of the next generation of wind turbines, which will start in the next decade and be between 10-12 MW in size, as wind turbine capacity increases, but the number of turbine installations is decreasing and stand-alone capacity continues to grow
.
According to Wood Mackenzie, the average pile weight per MW in Europe will be reduced by 36% by 2023, while the average installation time per MW of turbines and infrastructure in Europe has halved since 2010 and is expected to remain so
over the next decade.
Similarly, the transmission sector is experiencing what Wood Mackenzie analysts describe as "overall innovation" as capacity increases and materials decrease.
In addition, Wood Mackenzie expects the average capital expenditure for offshore wind projects in Europe to decline
rapidly as competition for wind farm development intensifies, wind turbine sizes increase, and economies of scale begin to emerge in the industry.
"Capex and operating expenditure across Europe are expected to decline by an average of 36% and 55%
by 2027.
" "On top of that, the average cost of offshore energy (LCoE) in Europe will also fall," which is expected to reach €53.
6/MWoE for grid-connected projects in Europe by 2027, compared to around €107/MWh in 2018
.
”
As global industries expand beyond traditional European borders, Europe's experience and expanded industries are beginning to expand the scope of
European supply chains and expertise.
The surge in demand for new markets has globalized European supply chains and prompted new suppliers to enter the market
.
Wood Mackenzie also expects offshore wind to become an increasingly attractive option
for the oil and gas industry.
