The market for offshore wind farm cables is set to grow six-fold over the course of this decade, according to a new report published by RenewableUK.
The global market for subsea power cables is divided between array cables which run between the turbines of an offshore wind farm connecting them to the offshore substation, and export cables which take the power from the offshore substations and connect to the main power grid onshore.
RenewableUK’s “Offshore Wind Project Intelligence Report – Cables Edition” reveals that over 63,200 kilometres of array cables are expected to be installed globally by the end of 2030 – compared with less than 9,700 kilometres which were installed by the end of 2020.
Nearly 40,000 kilometres of export cables are forecast to be laid worldwide by the end of the decade, compared with just over 7,500 kilometres at the end of last year.
The biggest offshore wind markets are expected to be China, the UK, the USA, Sweden, and Vietnam as the top five countries with the largest project pipelines.
Significant demand is also anticipated in Germany, Ireland, Taiwan and Australia, according to the report.
”This report reveals that the global offshore wind cable market is set to grow six times bigger over the course of this decade than it was in 2020. It demonstrates the enormity of the opportunities for companies in the UK and elsewhere which are manufacturing and installing hi-tech cables for projects worldwide, by setting out exactly when, where and how the market will expand between now and 2030,” RenewableUK’s Executive Director Isabel DiVanna said.
The report is being published at RenewableUK’s Cables 2021 conference which takes place Tuesday, 16 November in Newcastle, UK.