The global offshore wind energy sector is on the precipice of a tipping point, according to analysis from IntelStor LLC, a cloud-based market intelligence ecosystem for renewable energy. IntelStor is anticipating a total potential growth of 329 GW by 2028, with 181 GW of that as likely build.
According to market intelligence company, IntelStor, the U.S. (while not in the lead) offer the most upside potential for the offshore wind market.
According to the company, the Americas have committed to a total of 62 GW of proposed offshore so far, and Europe is leading the globe with 161 GW, either consented or under construction. Asia Pacific is ramping up with about 106 GW of offshore this year.
The breakdown of emerging markets in offshore wind indicates that the United States currently has the most upside potential, with Taiwan in second. Japan and Poland will be the next developmental stage markets to make a significant contribution to the growing capacity additions in the offshore wind segment.
Additionally, Việt Nam and Turkey have identified their offshore wind market potential, but they have yet to begin fully exploiting it. In particular, Việt Nam has been developing a robust market of near-shore and intertidal capacity, but deeper offshore waters also offer opportunities.
Early stage markets, such as India, Brazil, Azerbaijan, Australia, and South Korea are all poised to make a contribution to global capacity additions soon, with policies being established in all those markets and a significant desire for exploitation by local officials, developers, and suppliers.
Filed Under: News, Offshore wind
