Floating Wind Energy (FWE) Markets to 2031: Highlights of Key Project Opportunities, Total Addressable Market Opportunity in CapEx, Activity Forecast by Supply Chain Segment

Wednesday, 24. July 2019 13:24

Dublin, July 24, 2019 (GLOBE NEWSWIRE) -- The "Global Floating Wind Energy Market Forecast 2019-2031 (Q Vision)" report has been added to ResearchAndMarkets.com's offering.

This report is a must for those active in, or interested in the Offshore Wind Industry. It shows data-backed analyses and outlooks into the industry, globally as well as regionally and provides insights in industry & technological segments.

The report opens with an Economic Perspective of the Industry, then delves into current/planned/possible projects, along with the Total Addressable Market opportunities for each major link on the Supply Chain. The Outlook to 2031 sees upwards of 14 GW installed and extensive detail is provided for all regions. An analysis of the Supply Chain including market shares covers Developers, Turbine Manufacturers, Designers, the Mooring segments, Cabling and Installation activities.

This report is will give the reader a complete overview of the Global Floating Wind Energy market, from projects in place Worldwide with CapEx estimates on all segments of the Supply Chain, along with opportunities within each segment of the Supply Chain. The reader gets far more than your typical top-down forecast as we employ an in-depth detailed methodology (Deep Data) which allows the reader to assess the impact of future growth by analyzing the benchmarks set forth in this report collectively, as well as across the Supply Chain segments.

Market Summary

Renewable energy is the fastest-growing energy source, accounting for 40% of the increase in primary energy. The energy mix by 2040 is the most diversified the world has ever seen. Renewables led by wind, offshore wind and solar are growing exponentially and delivering bigger capacities and cheaper economic solutions. Cheap renewable energy and batteries are remaking electricity systems globally and will take a growing share of power generation from fossil fuels which could reach parity by 2050.

Modern natural gas power plants can provide the flexibility needed to integrate more renewables into the grid. Wind energy is a growing form of cheaper energy supply in many markets. In 2018, according to the Global Wind Energy Council, wind capacity installations outpaced new fossil fuel capacity in a number of mature and emerging markets. The global energy transition to a lower carbon footprint presents many opportunities across industries to tackle new challenges through innovation and applied technology.

Advanced technology will continue to be an enabler for wind energy. Digitalization shows great potential for its ability to transform the power sector by offering demand-side flexibility including opportunities to integrate power sources. Digital technologies can also aid-in reduced TotEx and drive lower operation and maintenance costs in wind parks. Projections for onshore wind indicate over 50 GW of installed wind capacity on an annual basis in addition to more than 6 to 10 GW of offshore wind capacity additions each year.

The wind industry continues to deliver value to enhance wind's cost competitiveness and efficiency with steady improvements in the Levelized Cost of Electricity (LCoE). Since 2016, offshore wind particularly has pushed reductions in LCoE in excess of 50%. The top five onshore wind markets delivered 75% of new capacity in 2018 (China, USA, Germany, India and Brazil). Ninety-one percent of new offshore wind installations were led from China, the United Kingdom, and Germany during 2018.

The IEA's World Energy Outlook sees increased spending on offshore wind power projects through 2040 benefiting in part from the decline in offshore oil investments in the Sustainable Development Scenario. Offshore globally, there are more than 1.4 GW of offshore wind auctions Planned in 2019 following a strong showing of 3.3 GW in 2018. It is projected that more than 16 GW of Floating Offshore Wind will be installed worldwide to 2030. State incentives are a driver for offshore floating wind as both California and Hawaii have targets to reach 100% renewable energy generation by 2045.

Off the Eastern seaboard, BOEM is processing three Construction & Operations Plans (COPs) for offshore fixed wind which are Vineyard Wind, Deepwater Wind South Fork and Bay State Wind. Eight additional COPs are expected to be submitted to BOEM over the next 12 months. Equinor's New Energy Solutions have more than 5 GW of offshore wind projects in the development pipeline offshore the US Atlantic. New York state expanded its renewables policy goals to reach 70% renewable energy by 2030. New York intends to install 9,000 MW of offshore wind by 2035 - enough to power six million homes.

The Offshore Floating Wind industry was in its infancy only five years ago, an inner circle' that met more naysayers than believers. This industry has come a very long way in just a few years delivering new floater designs, scaled demonstrators, pre-commercial projects and new players. The entry of companies such as Equinor, Repsol, SBM, Aker Solutions and most recently Shell has led to a step-change for this young industry's viability and ultimate capability to produce 50 or 100 Floating Turbine Units (FTUs) on a serial manufacturing basis.

Offshore wind energy is quickly becoming a relevant adjacent industrial sector to offshore oil and gas for numerous supply chain companies. Their advanced engineering capabilities, project management skills and technology solutions will be required to meet rapid demand growth over the next decade.

Offshore Floating Wind Energy is a fast-moving market. Europe has been the 'test bed' for floating wind and the success of these projects will drive export of this technology to the USA and Asia well before 2025. The view towards large scale projects aided with ample financial backing will help to drive efficiencies and lead to significantly reduced costs. We see this trend, in turn, making European projects more feasible buoyed by additional government support of long-term Floating Wind Energy developments.

Key Topics Covered

1. Q FWEconomics - Macro Perspective in a Global Context

I. Global Context, The Energy Transition
II. Average Annual Offshore Energy Investment by Scenario
III. Global Context, By the Numbers
IV. Installed Wind Power through 2018
V. USA Eastern Seaboard - Potential Offshore Wind Market

2. Highlights of Key Project Opportunities

I. Global Projects in CapEx by Project Name
II. USA - Pacific & Atlantic Projects in CapEx by Project Name
III. Northern Europe Projects in CapEx by Project Name
IV. Southern Europe Projects in CapEx by Project Name
V. Asia/Pacific Projects in CapEx by Project Name

3. Total Addressable Market Opportunity in CapEx 2020-2031

I. Maps of Global CapEx by Supply Chain Segment
a) All Statuses: Under Development, Planned & Possible
b) Under Development
c) Planned
d) Possible

II. 12-Year Outlook
a) Six-Year Comparisons All Statuses
b) Outlook by Developer
c) Outlook by Designer
d) Project Activity 2020-2025 - Under Development, Planned & Possible
e) Project Activity 2026-2031 - Planned & Possible

III. Global Analysis by Year, Supply Chain Segment and Status
a) All Statuses: Under Development, Planned & Possible
b) Under Development & Planned
c) Possible

IV. Regional Outlook
a) USA - Pacific & Atlantic
b) Northern Europe
c) Southern Europe
d) Asia/Pacific

4. Market Overview Floating Wind Energy Outlook

I. Project Profiles in Total MW
a) Global Map
b) Cumulative Total MW by Status & Country
i. Online & Under Development
ii. Planned & Possible

II. Number of FTUs by Region
a) Overview by Hull Type and Region
b) Offshore Floating Wind Projects' Detail by Number, Status & Hull Type
c) Total FTUs Installed by Year
d) Activity by Region
i. USA - Pacific
ii. Northern Europe
iii. Southern Europe
iv. Asia/Pacific
e) Total FTUs Installed by Year & Status
i. Online
ii. Under Development
iii. Planned

5. Activity Forecast by Supply Chain Segment

I. Top Developers
a) Top 15 by Rank - MW by Year and Hull Shape
b) CapEx by Developer

II. Offshore Turbine Manufacturers for Floating Wind
a) Top Four by Rank - MW by Reported & PSR & Number of Turbines by Country
b) MW by Year & Number of Turbines by Country
i. Online
ii. Under Development

III. Floater Designers
a) CapEx - Under Development, Planned & Possible
b) By Developer - No. of FTUs - All Statuses
c) Rank by Country - No. of FTUS - All Statuses

IV. Mooring Activity Outlook
a) Wind Turbine Group Selection Criteria
b) Mooring Systems Illustrations
b) Designer Rank by Hull Type - No. of FTUs
c) Designer Rank by Country - No. of FTUs
d) By Status - Online
e) By Status - Under Development
f) By Status - Planned
g) By Status - Possible
h) Mooring Activity Detail by Region & Status

6. USA - Atlantic NE Fixed Offshore Wind

I. Project CapEx
a) By Project Name
b) By Supply Chain Segment
c) By Supply Chain Segment & Status by Year
d) By Project Name Data

II. Total Units
a) Eastern Seaboard Map
b) Cumulative Installed by Year
c) By Project Name

Companies Mentioned

  • 2B Energy B.V.
  • ABB
  • ACS Cobra
  • AWH Hawaii Wind LLC
  • Acacia
  • Aerodyn Engineering
  • Aerodyn SCD
  • Aibel
  • Aker
  • Alpha Wind
  • Asilva Matos
  • Atkins
  • Atlantatique
  • Atlantis Ideol
  • Avangrid, COP
  • BOW
  • BP
  • Bardot
  • Bexco
  • Blue H
  • Blue Power Partners A/S
  • Bluewater
  • Bourbon
  • Bouygues
  • CDC
  • CGN-EE
  • CIP
  • Cambrio
  • Catalunya University
  • CdDepots
  • China Energine
  • China Steel
  • Chiyoda Generating Europe Limited
  • Cobra Wind
  • CoenHexicon
  • Colruyt Group
  • Coorodinadora internacional de cargas
  • DBD Systems LLC
  • DEME floater design and mooring
  • DTU Wind Energy
  • Dai Han
  • Darwind
  • DeepWind Consortium
  • Deepwater Wind
  • Diamond Generating Europe Limited
  • Dietswell 2B
  • Doris
  • Duco
  • EDF Renouvelables
  • EDP Renovveis

For more information about this report visit https://www.researchandmarkets.com/r/7f0lcq

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Related Topics: Wind Power

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