2Q 2022

Analyst Insight: REPowerEU and Global Wind Forecast

Global Wind and Solar Database Insights

This Analyst Insight complements the latest Guidehouse Insights Global Wind Energy Database 2Q22. Given the current war in Ukraine, and its repercussions on European energy policies, and with the announcement of the EU’s REPowerEU plan, this Analyst Insight will focus on the European wind market, where the EU has set a goal of 480 GW of installed wind capacity—both onshore and offshore—by 2030.

The wind industry is currently under notable pressure, with issues being raised about the design of auctions (including non-price criteria), tender volumes, permitting issues, market uncertainty, supply-chain issues, and low levelized cost of electricity (LCoE) for wind power. At the same time, renewable targets and ambitions for wind deployment are being raised, especially as the war in Ukraine gives renewed impetus for the European energy transition.

According to Guidehouse Insights’ calculations, the global wind industry installed approximately 85 GW in 2021, which is a slight decrease overall on 2020’s total annual installed capacity of approximately 102 GW, both onshore and offshore. The outlook for 2022 is expected to be more subdued before returning to strong growth, as a perfect storm of factors coalesce to put pressure on the wind industry globally. However, interest in the industry remains as high as ever with record-breaking offshore auction bids in the US, and a renewed impetus on the energy transition in Europe, where unprecedented wind capacity targets have been set.

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Tables | Charts | Figures 5
  • What are the key global wind power market drivers and barriers?
  • Which countries are expected to represent the largest markets for wind energy capacity additions in the coming decade?
  • What effects have the recent war in Ukraine had on Europe’s wind power ambitions?
  • How much wind capacity is anticipated to be installed in 2022 in the key global countries tracked?
  • What mix of onshore, offshore, and distributed wind is expected in different countries and regions worldwide?
  • How has the global wind industry attempted to respond to recent challenges across the auctions process, permitting issues, and supply-chain related concerns?
  • What are some of the key recommendations for governments, policymakers, and market stakeholders going forward?
  • Wind turbine manufacturers
  • Electricity generation utilities
  • Independent power producers
  • Wind turbine component suppliers
  • Wind power plant operations and maintenance companies
  • Materials manufacturers for wind energy components
  • Government agencies, policymakers, and researchers
  • Investor community

Introduction

Scope

Executive Summary

REPowerEU and Other Developments

Market Inflection Trends

Market Drivers and Barriers

Global and European Market Forecast

Regional Market Overview

Key Recommendations

Additional Resources & Contact

 

  • Market Drivers and Barriers
  • Total Annual Wind Capacity Additions by Segment, World Markets: 2022-2031
  • Total Annual Wind Capacity Additions by Country, Europe, 2022-2031
  • Regional Market Overview
  • Wind Deployment: Industry Growth Potential, World Markets