The Global Offshore Wind Market – Recent trends and expectations

Jon Dugstad, Director Wind and Solar at the Norwegian Energy Partners (NORWEP), led a live ZOOM Energy talk at the Offshore Energy event, discussing the global offshore wind market and how it could look over the next decade and in the future.

There is volume increase in offshore wind and its growing even further over the near future with emerging markets and the existing ones out of Europe gaining momentum – with costs continuing to the downward trend, according to Dugstad, who referred to NORWEP’s report done in cooperation with RCG.

There is currently 211.9 GW of offshore wind in development, and although not all of it will be realised, this is immense capacity, Jon Dugstad said.

Into the next decade, the EU will still be the base of the offshore wind industry, even though Asia is moving forward quickly, and according to the Global Offshore Wind: Annual Market Report, China will be leading the way in the region.

“I would like to mention the fact that the global oil and gas majors which are entering the market will probably add more to the globalisation of the industry.

“And we do see that as some of the global suppliers, which are now been moving into other markets with the developers, are making alliances with local partners to create entities which can work both globally but also locally. I think that is the trend in the industry, and I think we’ll see a number of alliances in the same way going forward”, said Dugstad.