Germany will add 2,071 Megawatts in annual offshore wind turbine installations in 2015, making it the world’s leading market ----Meanwhile, UK additions will remain relatively steady, but the country will slip to third in rankings behind China, says report
LONDON, UK (GlobalData), 6 May 2015 - Germany will become the world's leading market for annual offshore wind turbine installations in 2015, with the country set to add an impressive 2,071 Megawatts (MW) this year, an almost fourfold increase from the 529 MW added in 2014, according to research and consulting firm GlobalData.
The company's latest report* states that global annual offshore wind installations will more than double, from 1,681 MW in 2014 to 3,903 MW in 2015, with a dip to 3,255 MW forecast for 2016.
Ankit Mathur, GlobalData's Practice Head for Power, says that while Germany's annual offshore installations will soar this year, UK additions will remain relatively steady, decreasing marginally from 813 MW in 2014 to 801 MW in 2015. Furthermore, the UK will slip down to third place in the rankings, as China surges into second position with 817 MW in 2015.
Mathur explains: "Germany's huge increase in offshore installations is attributable to several offshore wind projects scheduled to come online in 2015. China is also planning an array of offshore wind projects this year, which will see it overtake the UK for annual installations.
"Additionally, the next few years will see China maintain its annual offshore wind installations around the 1 Gigawatt mark, while the UK will observe relatively lower installations until 2018, when the country's next offshore growth spurt is expected."
The report also states that last year saw order intake for offshore wind turbines rise at a blockbuster Compound Annual Growth Rate of 367%, from 288 MW in 2013 to 1,346 MW in 2014.
In terms of company share, Siemens remained the market leader in 2014 with an offshore order intake of 690 MW, followed by Areva with 350 MW, according to GlobalData.
*Wind Regains Momentum in 2014 and Industry Outlook Improves