Forecast: Golden Times for Offshore Wind Cable Manufacturers

Wind Industry Profile of

Subsea power cables stretching over 16,300km in length – nearly the distance between London and Sydney – will be needed over the next five years to build new offshore wind farms worldwide, according to a new report by RenewableUK.

The study, “Offshore Wind Cables Installation and Manufacturing Forecast 2019-2029”, also shows that the value of the global market for these cables will grow by 57% from £717m this year to over £1,130m by 2023. According to RenewableUK’s Project Intelligence team which compiled the report, global offshore wind capacity will skyrocket from 20.5 gigawatts (GW) today to over 55GW in 2024, largely driven by new projects in the... ... More: Official Press Release RenewableUK

Keywords:

RenewableUK, market, offshore, wind cable, cable, UK, capacity, subsea power cables