Global Floating Wind Energy Market Forecast 2019-2031 (Q Vision)

Table of Contents

1. Q FWEconomics – Macro Perspective in a Global Context
I. Global Context, The Energy Transition
II. Average Annual Offshore Energy Investment by Scenario
III. Global Context, By the Numbers
IV. Installed Wind Power through 2018
V. USA Eastern Seaboard – Potential Offshore Wind Market

2. Highlights of Key Project Opportunities
I. Global Projects in CapEx by Project Name
II. USA – Pacific & Atlantic Projects in CapEx by Project Name
III. Northern Europe Projects in CapEx by Project Name
IV. Southern Europe Projects in CapEx by Project Name
V. Asia/Pacific Projects in CapEx by Project Name

3. Total Addressable Market Opportunity in CapEx 2020 – 2031

I. Maps of Global CapEx by Supply Chain Segment
a) All Statuses: Under Development, Planned & Possible
b) Under Development
c) Planned
d) Possible

II. 12-Year Outlook
a) Six-Year Comparisons All Statuses
b) Outlook by Developer
c) Outlook by Designer
d) Project Activity 2020 – 2025 – Under Development, Planned & Possible
e) Project Activity 2026 – 2031 – Planned & Possible

III. Global Analysis by Year, Supply Chain Segment and Status
a) All Statuses: Under Development, Planned & Possible
b) Under Development & Planned
c) Possible

IV. Regional Outlook
a) USA – Pacific & Atlantic
b) Northern Europe
c) Southern Europe
d) Asia/Pacific

4. Market Overview Floating Wind Energy Outlook

I. Project Profiles in Total MW
a) Global Map
b) Cumulative Total MW by Status & Country
i. Online & Under Development
ii. Planned & Possible

II. Number of FTUs by Region
a) Overview by Hull Type and Region
b) Offshore Floating Wind Projects’ Detail by Number, Status & Hull Type
c) Total FTUs Installed by Year
d) Activity by Region
i. USA – Pacific
ii. Northern Europe
iii. Southern Europe
iv. Asia/Pacific
e) Total FTUs Installed by Year & Status
i. Online
ii. Under Development
iii. Planned

5. Activity Forecast by Supply Chain Segment

I. Top Developers
a) Top 15 by Rank – MW by Year and Hull Shape
b) CapEx by Developer

II. Offshore Turbine Manufacturers for Floating Wind
a) Top Four by Rank – MW by Reported & PSR & Number of Turbines by Country
b) MW by Year & Number of Turbines by Country
i. Online
ii. Under Development

III. Floater Designers
a) CapEx – Under Development, Planned & Possible
b) By Developer – No. of FTUs – All Statuses
c) Rank by Country – No. of FTUS – All Statuses

IV. Mooring Activity Outlook
a) Wind Turbine Group Selection Criteria
b) Mooring Systems Illustrations
b) Designer Rank by Hull Type – No. of FTUs
c) Designer Rank by Country – No. of FTUs
d) By Status – Online
e) By Status – Under Development
f) By Status – Planned
g) By Status – Possible
h) Mooring Activity Detail by Region & Status

6. USA – Atlantic NE Fixed Offshore Wind

I. Project CapEx
a) By Project Name
b) By Supply Chain Segment
c) By Supply Chain Segment & Status by Year
d) By Project Name Data

II. Total Units
a) Eastern Seaboard Map
b) Cumulative Installed by Year
c) By Project Name

7. Appendix

I. About Q FWE
a) About Us
b) Our Industry Is Evolving to Encompass Sustainable Energy
c) What We Do

II.Q Vision and Our Methodology
a) About Q Vision
b) Q FWE Project Statuses
c) Q FWE Q Vision Methodology
d) “Deep Data” – Mapping Key Components to Project Phases

III. Our Consultancy Practice

Table of Exhibits

Shares of Primary Energy
Global Context, Offshore Energy Investment
Global Context, By the Numbers
Onshore Wind Annual Growth
Offshore Wind, Annual Growth
USA Eastern Seaboard - Potential Offshore Wind Market
Global Projects in Capex
USA - Projects in Capex
Northern Europe - Projects in Capex
Southern Europe Projects in Capex
Asia/Pacific Projects in Capex
Global Capex by Supply Chain Segment
Global Capex by Supply Chain Segment
Global Capex by Supply Chain Segment - Under Development
Global Capex by Supply Chain Segment - Planned
Global Capex by Supply Chain Segment - Possible
Six-Year Capex Comparisons 2020 - 2025
Six-Year Capex Comparisons 2026 - 2031
Outlook by Developer 2020 - 2025
Outlook by Developer 2026 - 2031
Outlook by Designer 2020 - 2025
Outlook by Designer 2026 - 2031
Project Activity 2020- 2025
Project Activity 2026- 2031 - Planned & Possible
Capex by Year
Capex by Year - Under Development & Planned
Capex by Year - Possible
USA - Project Capex by Supply Chain Segment - Planned & Possible
USA - Project Capex by Supply Chain Segment & Status - Planned & Possible
USA - Capex by Developer, Designer, Hull Shape - Planned & Possible
Northern Europe Project Capex by Supply Chain Segment Under Development, Planned & Possible
Northern Europe Project Capex by Supply Chain Segment & Status - Under Development, Planned & Possible
Northern Europe Capex by Developer, Designer, Hull Type - Under Development, Planned & Possible
Southern Europe Project Capex by Supply Chain Segment - Under Development, Planned & Possible
Southern Europe Project Capex by Supply Chain Segment & Status - Under Development, Planned & Possible
Southern Europe Capex by Developer, Designer, Hull Type - Under Development, Planned & Possible
Asia/Pacific - Project Capex by Supply Chain Segment - Under development, Planned & Possible
Asia/Pacific - Project Capex by Supply Chain Segment & Status - Under development, Planned & Possible
Asia/Pacific Capex - by Developer, Designer, Hull Type - Under Development, Planned & Possible
All Projects in Total MW
Cumulative Total MW by Status - Online & Under Development
Cumulative Total MW by Country - Online & Under Development
Cumulative Total MW by Status - Planned & Possible
Cumulative Total MW by Country - Planned & Possible
Number of FTUs by Region & Hull Type
Offshore floating Wind Projects' Detail
Total FTUs Installed by Year
USA - Pacific Activity
USA - Pacific Activity - No. of FTUs by Designer, Developer & Hull Shape - Planned & Possible
Northern Europe Activity
Northern Europe Activity - No. of FTUs by Designer, Developer & Hull Shape - Planned & Possible
Southern Europe Activity
Southern Europe Activity - No. of FTUs by Designer, Developer & Hull Shape - Planned & Possible
Asia/Pacific Activity
Asia/Pacific Activity - No. of FTUs by Designer, Developer & Hull Shape - Planned & Possible
Total FTUs Installed by Year - Online
Total FTUs Installed by Year - by Project Name - Online
Total FTUs Installed by Year - Under Development
Total FTUs Installed by Year - by Project Name - Under Development
Total FTUs Installed by Year - Planned
Total FTUs Installed by Year - by Project Name - Planned
Top 15 Developers by Rank
Capex by Developer
Top 4 Turbine Manufacturer by Rank
Turbine Manufacturer by Rank
Turbine Manufacturer by Rank - MW per Year & no. of Turbines by Country - Under development
Capex by Designer
Top 7 Floater Designer by Developer
Floater Designers by Country
Wind Turbine Group Selection Criteria
Morning System Illustrations
Top Nine Mooring Designers Rank by Hull Type
Top Mooring Designer Rank by Country
Mooring Activity by Status
Mooring Activity by Status - Under Development
Mooring Activity by Status - Possible
Mooring Activity by Detail
USA - Atlantic NE Fixed Projects in Capex
USA - Atlantic NE Fixed Project Capex
USA - Atlantic NE Fixed Project Capex - by Supply Chain Segment & Status
USA - Atlantic NE Fixed Offshore Wind Projects by Year
USA - Atlantic NE Fixed Total Units Installed by Year
USA - Atlantic NE Total Fixed Units by Project Name
Q FWE Project Statuses - Methodology
Q Vision Methodology
Deep Data - Key Components to Project Phases

Executive Summary

Renewable energy is the fastest-growing energy source, accounting for 40% of the increase in primary energy. The energy mix by 2040 is the most diversified the world has ever seen. Renewables led by wind, offshore wind and solar are growing exponentially and delivering bigger capacities and cheaper economic solutions. Cheap renewable energy and batteries are remaking electricity systems globally and will take a growing share of power generation from fossil fuels which could reach parity by 2050.

Modern natural gas power plants can provide the flexibility needed to integrate more renewables into the grid. Wind energy is a growing form of cheaper energy supply in many markets. In 2018, according to the Global Wind Energy Council, wind capacity installations outpaced new fossil fuel capacity in a number of mature and emerging markets. The global energy transition to a lower carbon footprint presents many opportunities across industries to tackle new challenges through innovation and applied technology.

Advanced technology will continue to be an enabler for wind energy. Digitalization shows great potential for its ability to transform the power sector by offering demand-side flexibility including opportunities to integrate power sources. Digital technologies can also aid-in reduced TotEx and drive lower operation and maintenance costs in wind parks. Projections for onshore wind indicate over 50 GW of installed wind capacity on an annual basis in addition to more than 6 to 10 GW of offshore wind capacity additions each year.

The wind industry continues to deliver value to enhance wind’s cost competitiveness and efficiency with steady improvements in the Levelized Cost of Electricity (LCoE). Since 2016, offshore wind particularly has pushed reductions in LCoE in excess of 50%. The top five onshore wind markets delivered 75% of new capacity in 2018 (China, USA, Germany, India and Brazil). Ninety-one percent of new offshore wind installations were led from China, the United Kingdom, and Germany during 2018.

The IEA’s World Energy Outlook sees increased spending on offshore wind power projects through 2040 benefiting in part from the decline in offshore oil investments in the Sustainable Development Scenario. Offshore globally, there are more than 1.4 GW of offshore wind auctions Planned in 2019 following a strong showing of 3.3 GW in 2018. It is projected that more than 16 GW of Floating Offshore Wind will be installed worldwide to 2030. State incentives are a driver for offshore floating wind as both California and Hawaii have targets to reach 100% renewable energy generation by 2045.

Off the Eastern seaboard, BOEM is processing three Construction And Operations Plans (COPs) for offshore fixed wind which are Vineyard Wind, Deepwater Wind South Fork and Bay State Wind. Eight additional COPs are expected to be submitted to BOEM over the next 12 months. Equinor’s New Energy Solutions have more than 5 GW of offshore wind projects in the development pipeline offshore the US Atlantic. New York state expanded its renewables policy goals to reach 70% renewable energy by 2030. New York intends to install 9,000 MW of offshore wind by 2035 – enough to power six million homes.

The Offshore Floating Wind industry was in its infancy only five years ago, an ‘inner circle’ that met more naysayers than believers. This industry has come a very long way in just a few years delivering new floater designs, scaled demonstrators, pre-commercial projects and new players. The entry of companies such as Equinor, Repsol, SBM, Aker Solutions and most recently Shell has led to a step-change for this young industry’s viability and ultimate capability to produce 50 or 100 Floating Turbine Units (FTUs) on a serial manufacturing basis.

Offshore wind energy is quickly becoming a relevant adjacent industrial sector to offshore oil and gas for numerous supply chain companies. Their advanced engineering capabilities, project management skills and technology solutions will be required to meet rapid demand growth over the next decade.

Offshore Floating Wind Energy is a fast-moving market. Europe has been the ‘test bed’ for floating wind and the success of these projects will drive export of this technology to the USA and Asia well before 2025. The view towards large scale projects aided with ample financial backing will help to drive efficiencies and lead to significantly reduced costs. We see this trend, in turn, making European projects more feasible buoyed by additional government support of long-term Floating Wind Energy developments.

Companies Mentioned

• 2B Energy BV
• ABB
• ACS Cobra
• AWH Hawaii Wind LLC
• Acacia
• Aerodyn Engineering
• Aerodyn SCD
• Aibel
• Aker
• Alpha Wind
• Asilva Matos
• Atkins
• Atlantatique
• Atlantis Ideol
• Avangrid, COP
• BOW
• BP
• Bardot
• Bexco
• Blue H
• Blue Power Partners A/S
• Bluewater
• Bourbon
• Bouygues
• CDC
• CGN-EE,
• CIP
• Cambrio
• Catalunya University
• CdDepots
• China Energine
• China Steel
• Chiyoda Generating Europe Limited
• Cobra Wind
• CoenHexicon
• Colruyt Group
• Coorodinadora internacional de cargas
• DBD Systems LLC
• DEME floater design and mooring
• DTU Wind Energy
• Dai Han
• Darwind
• DeepWind Consortium
• Deepwater Wind
• Diamond Generating Europe Limited
• Dietswell 2B
• Doris
• Duco
• EDF Renouvelables
• EDP Renováveis
• EDPR
• EMEC
• EOLFI
• EVdlE
• Ehrnberg Solutions
• Eifage
• EnBW
• Engie
• Ente Vasco de la Energia
• EolMed Consortium:
• Eolfi Taiwan
• Eolink
• Equinor
• Ezen Global
• FEFGBI
• Floatgen
• Floating Power Plant
• Flocan
• Forthwind UK
• Fred Olsen
• Freia Offshore
• Fuji
• Fujian Electric Power
• GE
• GIG (Macquarie)
• Gaelectric
• Gicon
• Global Marine
• Glocal Inc.
• Glosten
• Goto Floating Wind Power
• GustoMSC
• Gwind
• Heerema
• Helium
• Hengtong China
• Hexicon
• Highland Floating Wind Ltd.
• Hitachi
• Hyosung
• Hywind Scotland
• IHI
• Iberdrola
• Ideol
• Innogy
• Isleburn
• JDR
• Jeju Island
• Jifmar
• KFWind
• KNOC Equinor
• KOWL
• Korean Maritime Consultants
• Kvaerner mfrg FEED
• Kyushu University
• Lake Erie Energy Dev. Corp. (LEEDCo)
• Lankhorst Gama28
• Le Beon
• MHI
• Magellan
• Maine Aqua Ventus I GP LLC
• Mareal France
• Marubeni
• Mastek
• Matiere
• Meridiam
• Mitsui
• Modec
• Mooreast
• NEDO
• NGI
• Nautilus Floating Solutions
• Navacel
• Naval Energies
• Navantia
• Nenuphar
• Nexans
• Nigg
• Norsea Group
• Offshore LA
• Olav Olsen
• Orpheo
• Orsted
• PPI
• Pelagic Power
• Penobscot Hampden
• Principia
• Principle Engineering
• Principle Power
• Progression Energy
• Progression Hawaii Offshore Wind, Inc.
• Prysmian
• Quadran
• REN
• RTE
• Redwood Coast Energy Authority (RCEA)
• Repsol
• SBM Offshore
• SK E&C
• Saipem
• Saitec
• Seatwirl
• Seawind
• Senvion
• Shell
• Siemens
• Spinfloat
• Stiesdal
• Subsea 7
• Sway
• Technip
• TetraFloat
• Toda Corporation
• Trelleborg
• Trident Winds
• Trust Energy
• UMaine
• Unitech
• Valemo
• Van Oord
• Vicinay
• Vinci
• Vryhof
• Welcon
• Windar
• Windplus
• Windsea
• Worley Engineering
• WunderEnergy/Hexicon
• X1Wind
• XCEI Floating Wind Power Tech. Co. Ltd
• XEMC