The global offshore wind market will almost double installed capacity to 34 GW by 2020, according to the latest forecast by Bloomberg New Energy Finance (BNEF).
- North Sea states to have over 30 GW installed by 2023
- China emerges as new market overtaking UK/Germany by 2022
- BNEF forecasts global offshore at 71 GW by 2025
Between 2017 and 2025 the offshore wind market is forecast to grow at a 19% compound annual growth rate, reaching cumulative capacity of 71 GW in 2025, BNEF wind analyst Keegan Kruger said in the report.