MAKE expects more than 144GW of wind power capacity to be commissioned in Europe from 2015 to 2024. Northern Europe will account for 61% of installations over the 10-year outlook with 42% of this installed in Germany. European markets added 13GW of wind power capacity in 2014 representing 7.7% growth over the previous year.
Continued growth in 2015 will surpass the record set in 2014 with 14.2GW. Germany will lead Europe with more than 37GW of new capacity between 2015 and 2024. The UK and France will follow with 15.4GW and 13.2GW, respectively, across the same period. Northern Europe will reach annual demand of more than 10GW in 2020, fueled by policy targets and almost 6GW of offshore wind capacity. MAKE estimates that Southern Europe will account for 26% of new European wind power capacity in the forecast period, with growth escalating towards the end of the period and a CAGR of 7.9%. Eastern Europe will account for the remaining 13% of new wind power capacity, with eventual policy stability supporting an 11.2% CAGR over the outlook. The offshore market accounted for 13%, or 1.6GW, of all new grid-connected capacity in Europe in 2014, with a growth of 5% compared to 2013. 3GW are expected to be grid-connected in 2015, increasing to more than 4GW at the end of the outlook, representing a key driver of growth in Europe.