A new report shows the global market for offshore wind farm cables is set to grow exponentially over the course of this decade.
RenewableUK’s “Offshore Wind Project Intelligence Report – Cables Edition” reveals that over 63,200 km of array cables are expected to be installed globally by the end of 2030, compared with less than 9700 km installed by the end of 2020.
Nearly 40,000 km of export cables are forecast to be laid worldwide by the end of the decade, compared with just over 7500 km at the end of last year.
The biggest offshore wind markets are expected to be China, the UK, the US, Sweden and Vietnam as the top five countries with the largest project pipelines.
Significant demand is also anticipated in Germany, Ireland, Taiwan and Australia, said RenewableUK.
RenewableUK executive director Isabel DiVanna said: “This report reveals that the global offshore wind cable market is set to grow six times bigger over the course of this decade than it was in 2020.
“It demonstrates the enormity of the opportunities for companies in the UK and elsewhere which are manufacturing and installing hi-tech cables for projects worldwide, by setting out exactly when, where and how the market will expand between now and 2030.”
The report is being published at RenewableUK’s Cables 2021 conference which takes place today in Newcastle.