Forecast: China to Become Largest Offshore Wind O&M Market

Wind Industry Profile of

China to become largest offshore wind O&M market

Wood Mackenzie’s latest report shows that the global offshore wind operations and maintenance (O&M) market is expected to grow 16% annually to reach US$12 billion (€10 billion) by 2029. Europe remains the biggest O&M market by region, reaching US$6.6 billion (€5.5 billion) by 2029. Rapidly expanding markets in Asia and US could bring new challenges and opportunities for domestic industry as well as international investors. Wood Mackenzie senior analyst Shimeng Yang said: “We expect to see O&M strategies developed for highly subsidised projects featuring near shore and smaller turbines evolving to fit the... ... More: Official Press Release Wood Mackenzie

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Wood Mackenzie, China, O&M, offshore, wind, market, growth, offshore wind sector, region, international, investor, GW, wind farm