Navigant Research Report Shows More Than 69 GW of New Offshore Wind Capacity is Expected to Be Installed between 2018 and 2027
February 25, 2019
Offshore wind will play an increasing role in the broader global
energy transition to a more diverse and flexible energy economy
BOULDER, Colo.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/OffshoreWind?src=hash” target=”_blank”gt;#OffshoreWindlt;/agt;–A new report from Navigant
Research offers a country-level analysis of all offshore wind
markets, with a data focus on key market activity, installation rates,
and capacity under construction or in planning.
The offshore wind power industry continues to grow at a steady pace,
reaching new markets with continued technology cost reductions and an
increased demand for renewable energy. Though less offshore wind is
installed annually compared to onshore wind, it remains an abundant
clean energy solution for many coastal load centers where a greater
proportion of population and energy demand is located. Click
to tweet: According to a new report from @NavigantRSRCH,
over 69 GW of new offshore wind capacity is expected to be installed
between 2018 and 2027, exceeding 100 GW of operating capacity by 2030.
“Offshore wind will play an increasing role in the broader global energy
transition to a more diverse and flexible energy economy,” says Jesse
Broehl, senior research analyst with Navigant Research. “However, due to
the capital-intensive nature of this market, the market share analysis
by country shows that an increasingly narrow pool of wind turbine
manufacturers is providing to this fast-growing market.”
Regionally, offshore wind is quickly becoming more cost-effective with
each successive competitive tender in Europe. Industry-leading countries
like the UK, the Netherlands, Denmark, Germany, and Belgium are well
into a transition phase to market-oriented policies and include highly
competitive bidding for power contracts. Competitive bidding has also
begun in the US ahead of offshore project installations along the
Northeastern seaboard.
The report, Market
Data: Offshore Wind Market and Turbine Vendor Assessment,
provides a country-level analysis of all offshore wind markets, with a
data focus on key market activity, installation rates, and capacity
under construction or in planning. The study provides data about turbine
manufacturers, including overall global market shares and more granular
installed capacity by country and wind turbine vendor. The report also
details average rotor diameters, specific power and turbine nameplate
ratings by installed year, and the shifting market share diversification
of offshore foundation types, including the latest floating wind
activity. An Executive Summary of the report is available for free
download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of
clean, intelligent, mobile, and distributed energy. Additional
information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.
* The information contained in this press release concerning the
report, Market Data: Offshore Wind Market and Turbine Vendor
Assessment, is a summary and reflects Navigant Research’s current
expectations based on market data and trend analysis. Market predictions
and expectations are inherently uncertain and actual results may differ
materially from those contained in this press release or the report.
Please refer to the full report for a complete understanding of the
assumptions underlying the report’s conclusions and the methodologies
used to create the report. Neither Navigant Research nor Navigant
undertakes any obligation to update any of the information contained in
this press release or the report.
Contacts
Navigant Research
Lindsay Funicello-Paul
+1.781.270.8456
lindsay.funicello.paul@navigant.com