Douglas-Westwood Issues Offshore Wind Market Forecast 2013-2022 (UK)

Douglas-Westwood (DW) has issued its ‘Offshore Wind Market Forecast 2013-2022’. 

DW’s Offshore Wind Market Forecast is now in its 5th Edition, providing a new long-term view of the sector through to 2022, in response to the requirements of the company’s clients. The report details market forecasts by region through to 2022 and is essential reading for companies working within the offshore wind sector.

The last five years saw global capital expenditure increase significantly. However, DW predict that over the next decade this spending will level off at approximately € 15 billion per year. New global installations are expected to average just over 3.000MW per year during this period.

As the industry seeks to reduce costs, a new generation of wind turbines designed around the unique requirements of the offshore environment are being rolled out with European project developers increasingly choosing to specify larger models with power outputs of 5MW or more. The size of the components for these future wind turbines creates a unique set of challenges for installers, foundation designers and service providers.

A new manufacturing supply chain focused on the Northern Euro­pean markets is slowly developing to meet demand with significant investments being made in aspects such as port infrastructure and foundation manufacturing capacity. At the same time, it will be cru­cial to leverage the experience and additional supply chain capacity from the offshore oil and gas sector.

[mappress]

Press release, June 19, 2013; Image: Vattenfall