The market of cable and wire products for offshore wind energy will reach 14 billion pounds
According to a recent report by RenewableUK , the market for cable and wire products for offshore wind power to 2028 could reach almost 14 billion pounds. The
survey “Offshore Wind Cable Manufacturing and Installation Forecast 2018-2028” showed that in the period from 2018 to 2028 the UK will the largest market for cable products in the world with a total turnover of 3.64 billion pounds.
The capacity of the facilities, the construction of which is planned for the coming years, is 19 GW and, according to experts from R-UK, they will need 9300 km of cable and wire products to launch them. Next, after the UK? In the ranking is China, where in the next 10 years, 6550 km of cables will be used, and Germany, with 4400 km, will close the top three.
According to the results of the study, the global annual indicator for the connection of cable and wiring products in the next six years can almost double, reaching a peak in 2024. It was then, as expected, that demand will be about 4,300 km of cable and wire products worth 1.7 billion pounds.
The growth of the industry will be achieved through the implementation of projects in the UK, Germany, Taiwan and the United States. China, France and the Netherlands will consolidate their positions in the global market in the coming decade, and Poland and Ireland will soon take their place in the TOP-10.
A wide range of opportunities will fall in the period between 2019 and 2023, when more than 3,000 km of cables must be connected in the UK alone, but no agreements have yet been signed. Contracts for the production of more than 2,400 km of cable and wire products for British projects of the next five years also need to be concluded.
Executive Director of R-UK, Emma Pinchbek, said:
For the first time, companies operating in the production of cable products for wind power, or those who want to get into this industry, can see the potential for entering into multi-million deals both in national projects and at the global level.
This is an excellent example of industrial opportunities created by the development of offshore wind energy, a sector in which the UK is the world leader.
The UK is the leader, because it has officially opened the world's largest offshore wind farm.
The opening of the offshore wind power plant Walney Extension with a capacity of 659 MW led to the fact that the installed wind power capacity in the UK exceeded 20 GW, according to RenewableUK.
Today, offshore wind power produces more than 5 percent of UK electricity, and by 2030 this figure will increase four times - a new wind farm 100 km from Grimsby is being built, which will become the largest off-shore wind park in the world - Hornsea Project One with a capacity of 1.2 GW. Opening this wind park will also help reduce unemployment in Grimsby. Grimsby needs to maintain hundreds of wind turbines, so the prospects for the city are not bad.
(Note: At the moment, the UK is the largest supplier of wind-generated electricity in the European Union , and its withdrawal from the community may severely shake its position in the global producer rating.
The European Wind Energy Association Wind Europe expects that the total installed capacity of the offshore wind power plants commissioned in 2018 will be 3.3 GW).