Global Offshore Wind Market Set to Grow Sixfold by 2030

This article first appeared on the BNEF mobile app and the Bloomberg Terminal.

  • China to overtake U.K. and lead installations by 2022
  • BNEF increases U.S. forecast by 85% on new state targets

Global offshore wind cumulative installation forecast 

Source: BNEF

The global offshore wind market is set to grow at a 16 percent compound annual rate from 2017 to 2030, reaching a cumulative capacity of 115 gigawatts compared with 17.6 gigawatts today, according to Bloomberg New Energy Finance. The core markets of the U.K., Germany, Netherlands and China will drive installations, but in the next decade, Taiwan and the U.S. will also become gigawatt markets. BNEF expects annual installations to peak in 2027. After 2028, the expiry of offshore wind subsidies and a lack of regulatory transparency will result in a slowdown.

BNEF clients can see the full report, the “2H 2017 Offshore Wind Market Outlook”, here.

BNEF Shorts are research excerpts available only on the BNEF mobile app and the Bloomberg Terminal, highlighting key findings from our reports. If you would like to learn more about our service.

About BloombergNEF

BloombergNEF (BNEF) is a strategic research provider covering global commodity markets and the disruptive technologies driving the transition to a low-carbon economy. Our expert coverage assesses pathways for the power, transport, industry, buildings and agriculture sectors to adapt to the energy transition. We help commodity trading, corporate strategy, finance and policy professionals navigate change and generate opportunities.
 
Sign up for our free monthly newsletter →

Want to learn how we help our clients put it all together? Contact us