- Published: 04 September 2014 04 September 2014
Supported by aggressive renewable targets, policy backing and a shift towards a greener climate, the UK propelled itself to the head of the global offshore wind power market in 2013, boasting a cumulative installed capacity share of around 52%, according to research and consulting firm GlobalData..
The company’s latest report, Offshore Wind Turbines and Foundations – Global Market Size, Market Share, Regulations and Key Country Analysis to 2020, states that the UK’s cumulative offshore wind power installed capacity increased from just over 0.3GW in 2006 to 3.7GW in 2013, at a Compound Annual Growth Rate (CAGR) of 42.9%. With installations expected to increase from 3.7GW to 11GW by 2020, at a CAGR of 16.9%, the UK will remain the leading offshore wind power market by the end of the forecast period, boasting a 36.4% share of the global cumulative offshore installed capacity.The UK government has set a target for 15% of the UK’s energy to be generated from renewable sources by 2020. As offshore wind power currently contributes around 3% of the country’s total energy generation, GlobalData expects to see more investment into the industry to help achieve this goal.
According to GlobalData, Siemens dominates the global offshore wind turbine cumulative installations. The company was the largest offshore wind turbine manufacturer in 2013, having accounted for almost 56.5% of the world’s cumulative installed capacity that year. Siemens maintained its market-leading position in the UK in the same year, achieving 100% of the country’s new offshore installations and claiming a massive 73.3% share of its cumulative installed capacity.