Global offshore wind power capacity is expected to increase almost sixfold over the next decade according to a new report from Wood Mackenzie Power and Renewables, growing from being deployed in only 7 countries at the end of 2017 to 18 countries by 2027.
Wood Mackenzie Power and Renewables published a new report towards the end of January entitled Global Offshore Wind Industry Dynamics 2018 which looks at how the global offshore wind industry will evolve over the next 10 years.
Locked behind an industry-specific pay-wall, the report predicts that not only will the global offshore wind industry begin to evolve beyond the boundaries of the traditional European markets the industry has grown up in, but that it will expand to 18 countries by 2027, resulting in an almost sixfold increase in capacity over the same forecast period.
With this geographical expansion beyond a handful of markets in Europe comes an attendant focus on local content policies for developers and suppliers as governments seek to strengthen their local industry and open up more job opportunities for local labor forces.
“While the influence of local content policies has been limited thus far, these policies will impact 72% of future demand,” explained Soren Lassen, leading author and offshore analyst with Wood Mackenzie.
Read the full report from Clean Technica.