, Hong Kong

Global wind energy to surpass 1TW threshold by end-2023

Offshore wind is expected to grow sevenfold by 2032, Wood Mackenzie said.

The global wind energy market is expected to surpass the 1-terawatt threshold for installed capacity by the end of the year, Wood Mackenzie reported. 

Wood Mackenzie noted it also expects an increased focus on the offshore wind market, which it projected to grow sevenfold by 2032. 

Read more: China will remain as largest wind market: report

“After needing more than 40 years to reach one TW of installations, the wind industry will reach the next TW of installations within the next eight years, a significant acceleration of growth,” Luke Lewandowski, Wood Mackenzie Research Director, said.

In addition, wind power developers are seen adding offshore wind capacity in 30 countries within the next decade.

During this period, European markets and China are expected to continue dominating as it is estimated to account for 81% of offshore wind capacity. 

 

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!