Offshore Wind Foundations Technology Forecast to 2025
Authors: Gail Rajgor
Published: September, 2015
Pages: 47 | Tables: 1 | Figures: 30

Based on extensive primary research this study Offshore Wind Foundations: Technology Forecast to 2025 is the essential planning and strategy guide to developments within the fast growing offshore wind foundations market.

This major new study identifies and profiles the technologies expected to affect the sector to 2025. The report illustrates the technological trends and drivers, shaping the development of the sector and incorporates exclusive ten year market forecasts.

Find out about:

  • A thorough assessment of technology developments across the offshore foundations supply chain to 2025
  • Key technology trends shaping industry’s future to 2025
  • Quantitative and qualitative forecasts to 2025
  • Primary and secondary research highlighting major market drivers and geographic trends

Who should buy this report?

  • Wind turbine manufacturers
  • Components and equipment providers
  • Wind maintenance and service companies
  • Utilities and wind developers seeking opportunities
  • Financial institutions assessing risk and opportunities
  • Consultancies specialising in wind industry

What’s included in the price?

  • A hard copy of the report
  • CD with searchable PDF
  • Global intranet licence, allowing data to be distributed throughout your organisation

How will this intelligence benefit you

  • Stay ahead of the competition by getting the latest industry figures and analysis
  • Pinpoint growth and identify factors driving change
  • Plan for the future with confidence

Summary:

The global offshore wind market is entering a new phase of development – one where turbines in the 6–8MW range are the norm, markets outside Europe start to take off, and projects become more complex in terms of size, water depth and distance from shore. As that happens the market is set to grow tenfold from an installed base of just under 8.8GW at the end of 2014 to just under 90GW by 2025, according to WPO Intelligence data.

While the industry’s leading turbine manufacturers, such as MHI-Vestas and Siemens, have come far in developing bigger offshore wind turbines, the key to success is ensuring suitable foundation structures and installation methods for more complex sea terrains are in place. The industry’s leading companies and research organisations have dedicated themselves to finding and developing the right solutions for more than a decade now. Their hard work is starting to bear fruit, with the first few projects using the bigger state-of-the-art offshore wind turbines now under way.

Of course, the industry is still on a steep learning curve as it aims to bring down the overall levelised cost of energy from offshore wind. With that in mind, for project developers, deciding which foundation design to use for a specific project is no easy task. Numerous factors have to be considered before a final specification can be made. This report looks at those factors in detail. It also provides a broad overview of the market along with detailed forecasts to aid companies in their strategic planning for the next decade.

As well as examining the current status of the market, this report provides a detailed demand forecast for different types of offshore wind foundations and related supply chains to 2025. The market is assessed by region (including  detailed overviews and forecasts for key countries), technology type, water depth, and distance from shore while the key suppliers are also discussed. Foundation design and technology trends are discussed in detail in Chapter 3. From the latest innovations in fixed foundations to developments in floating foundations, this chapter assesses the options available to project developers along with installation forecasts to 2025.

Methodology:

This report presents an overview and outlook of the offshore wind foundation market, foundation technologies and trends, economic drivers, environmental factors, installation and logistics.

This report is based on the WPO Intelligence database of offshore wind farms, as well as independent research conducted specifically for this report. Data were only drawn from ‘active’ projects – those that were listed in the database as being either ‘in progress‘ or ‘online’. We excluded projects that have been put on hold or cancelled. For the data analysis, we used a snapshot of the database taken on 24 July 2015. Any new projects or information that was announced after that date is not reflected in this report.

The forecasts of future installed wind capacity are drawn from our recently published report Global Offshore Wind Energy Forecast to 2025. Our forecast is based on a combination of analysis of future pipeline projects in our WPO database and research of individual countries’ policies and offshore wind or renewable energy targets.

In order to forecast foundation demand in 2015–18, we used details on turbine numbers and size from known turbine purchase agreements as recorded in WPO Intelligence, or company indications on which turbines and how many they intend to purchase when a TPA was unavailable. Average turbine size of 4.7MW was used for projects where no details were recorded.

Our forecast foundation demand in 2019–25 is based on our installed  capacity forecasts and the assumption of average turbine size of 6.4MW – based on information available in our database combined with known market trends for turbine size.

To forecast market value, the capital expenditure associated with a foundation was assumed to be approximately €0.9 million per megawatt installed, based on Roland Berger’s recent estimates and BVG Associates’ report.

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