Floating Wind Energy
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Market Intelligence

Quest Offshore Wind Turbine Index October 2019

October’s QOWTI, which tracks the total addressable market, shows a rise in global turbines to 11,624 from 11,087 in September 2019, which corresponds to a rise in projected MW capacity of 4,933MW to 101,782MW. Global CapEx rose from $296 billion in September 2019 to $310 billion in October 2019, with future USA projects adding $7.3 billion and Europe adding $6.7 billion.

Offshore Fixed Wind prospects grew by 537 turbines over the past month, with Doggerbank (UK), Vineyard Wind 2 (USA) and Virginia Wind Energy Area (USA) representing the vast majority of the new prospective turbines.

Floating Wind grew by 39 turbines, with 34 of these being Equinor’s Scottish expansion

Follow this link to see our regional and country by country indicators >>

Quest Offshore Launches Comprehensive Coverage of the Global Offshore Wind Market

Quest Offshore today launches its comprehensive coverage of the global Offshore Wind market and introduces our Fixed Offshore Turbine database. 

A Tremendous Opportunity Awaits

Quest sees enormous market potential starting to unfold, specifically increased areas of planned MW density across Asia, Europe and the USA.  These are three distinct markets that will ultimately require an expanded global supply chain while near-term projects will need to leverage the existing pool of experience and equipment.  Our analysis by supply chain segment shows a Total Addressable Market (TAM) of 10,140 Bottom-Fixed offshore turbine units totaling 89 GW across 160 projects.  An analysis of near-to-medium term projects under development, reveals 4,238 Bottom-Fixed substructures representing a total capacity of more than 36 GW. 

On a regional level, Europe sees more than half of the planned MW capacity to 2030 with Asia Pacific seeing rapid growth with over 3,300 turbine units identified and a 40% share of global projects led by Taiwan, Vietnam and South Korea.  The Americas led by the Northeastern U.S. is expected to deliver over 13 GW of capacity by 2028 from 1,422 turbine units.


Large Scale Commercial Projects Drive Floating Wind

The Global Floating Wind Energy Market & Forecast 2019 – 2031 Report opens with an Economic Perspective of the Industry, then delves into current/planned/possible projects, along with the Total Addressable Market opportunities for each major link on the Supply Chain.  The Outlook to 2031 sees upwards of 14 GW installed and extensive detail is provided for all regions.  An analysis of the Supply Chain including market shares covers Developers, Turbine Manufacturers, Designers, the Mooring segments, Cabling and Installation activities. 


Project of the Month: Hywind Tampen

The Q FWE Project of the Month is Hywind Tampen designed by Equinor.

Hywind Tampen – Data Sheets

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Concept of the Month: Sea Reed

The Q FWE Concept of the Month is Sea Reed Designed by Naval Energies.

Sea Reed Data Sheet

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