The global offshore wind market is set to grow at a 16 per cent compound annual rate from 2017 to 2030, reaching a cumulative capacity of 115GW compared with 17.6GW today, according to Bloomberg New Energy Finance.
The core markets of the UK, Germany, Netherlands and China will drive installations, but in the next decade, Taiwan and the USA 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.
