Westwood’s Global Offshore Wind Market Report provides a comprehensive review and outlook of global and regional offshore wind spend and installation activity on a quarterly basis. The report covers the latest news on policy mechanisms, auctions and licensing rounds, capacity targets, recent EPC/EPCI contract highlights, turbine OEM performance and a five-year regional outlook for key equipment (turbine, turbine foundations, offshore stations and cables).
Delivered as part of a subscription to WindLogix, the report is intentionally structured to provide all readers, ranging from executives to business development teams, with an in-depth roundup of key events and contracting activity that has shaped the quarter. Providing further insight into upcoming project FIDs, potential contract awards and commercial trends, enables improved opportunity scouting and forward planning.
1Q 2023 report highlights:
- Global installed capacity base stands at over 62.2GW with Mainland China (30.1GW) and UK (13.7GW) accounting for 48% and 22% respectively.
- An estimated 5.2GW of capacity was sanctioned this quarter, with announced FIDs including the 960MW He Dreiht project in Germany as well as Greater Changhua 2b and 4 in Taiwan.
- In 1Q, Haizea Wind Group was awarded a contract for 50 monopile turbine foundations at the East Anglia Three project in the UK. The contract is worth more than $212mn and the turbine foundations will be fabricated at Haizea’s Bilbao facility in the Port of Biscay, Spain. It is worth noting that Haziea has been increasing its market share, winning a foundation supply contract at Hornsea Project Three in 3Q 2022.
- In the tally of 2018-23 YTD turbine foundation awards, EEW Group continues to lead the pack with a total of 754 turbine foundations ordered, followed by Sif with 506 units and Jiangsu Haili is third with 406 units.
Summary
Report Summary
Quarterly Key Theme
Industry Overview
Auctions and Licensing Rounds
Capacity Outlook and Targets
Recent EPC/EPCI Contract Highlights
Turbine OEM Market Share
Market Outlook
Global Offshore Wind Market Outlook
Global Offshore Wind Market Outlook – Floating Wind
Project Watch – Upcoming FIDs
Global Offshore Wind EPCI Market Outlook
Market Outlook: Mainland China
Market Outlook: Rest of Asia
Market Outlook: UK
Market Outlook: Rest of Europe
Market Outlook: USA
Appendices
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