Market Intelligence
Offshore Wind Grows at Astonishing Rate in 4th Quarter
Annualized growth in 4Q/2020 has reached levels which show the massive growth potential in industrialized Offshore Wind. Global CapEx for the Floating Wind segment (vs Fixed Wind) grew by $17 billion ($48B vs $65B) in 4Q/2020, which equates to an annual growth rate of over 141%. While this growth rate may seem difficult to maintain, numerous positive comments from Major Energy Companies about the potential of Floating Wind, indicate that numerous 1000MW Floating Wind Projects may materialize fairly quickly. While growing from a larger base, Fixed Wind posted impressive growth in 4Q/2020, with an annualized growth rate of…
Floating Wind Webinar Global Deployment Opportunities for Floating Wind Turbines
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: Groix & Belle-Ile
The Q FWE Project of the Month is Groix & Belle-Ile designed by Naval Energies.
Groix & Belle-Ile – Data Sheets
Concept of the Month: Hexicon 2
The Q FWE Concept of the Month is Hexicon 2 Designed by Hexicon.
Hexicon 2 Data Sheet
