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Thu Aug 15, 2013, 11:30 AM

Report: Global offshore wind market to grow 32 per cent year-on-year

http://www.businessgreen.com/bg/news/2288939/report-global-offshore-wind-market-to-grow-32-per-cent-yearonyear

The global offshore wind energy market will enjoy rapid growth over the next seven years, led by the deployment of a new fleet of offshore wind farms in British waters.
That is the conclusion of a new report from analyst firm GlobalData, which predicts global offshore wind capacity will grow from 5.5GW in 2012 to 51.2GW by the end of the decade, largely as a result of the UK's plans for new offshore wind farms.

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As a result, the sector is expected to enjoy a compound annual growth rate (CAGR) of 32.3 per cent between 2012 and 2013.

The UK is expected to retain its leadership position in the offshore wind market, but GlobalData's projections imply other countries will start to expand their offshore wind capacity.

The UK's offshore wind industry is aiming to deliver around 18GW of capacity by 2020 through the development of the next wave of so-called Round 3 projects. But Germany, France, South Korea, China and the US are among those pursuing plans for new offshore wind farms.

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