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According to a new report by Wood Mackenzie, global wind power installed capacity is expected to grow
at a compound annual growth rate (CAGR) of 9% between 2021 and 2030.
By the end of 2030, the cumulative global wind capacity is expected to exceed 1,756 GW
.
Wood Mackenzie's fourth-quarter forecast reports that global new capacity additions are forecast to add another 69 GW
compared to the previous quarter's outlook for the period 2021-2030.
China offers significant room for improvement in the latest forecast
.
Luke Lewandowski, research director at Wood Mackenzie, said: "The rapid growth in electricity demand driven by China's industrial sector and the recent power shortage in September have inspired China to
accelerate the development of renewable energy.
As a result, we have raised our wind capacity outlook
for China.
The market is expected to grow by 458 GW this decade and will continue to lead the global ranking
in terms of new capacity.
”
Lead analyst Xiaoyang Li added: "The sharp demand for electricity along China's coast has triggered an increase of 13 GW in the offshore wind sector, mainly concentrated between
2023 and 2026.
The country's commitment to net zero emissions is expected to drive 88 GW of offshore wind capacity
over the next decade.
”
As these markets respond to decarbonization targets and expected incentives, the US and Europe will also be major incremental markets
for wind power over the next decade.
According to a new report by Wood Mackenzie, global wind power installed capacity is expected to grow
at a compound annual growth rate (CAGR) of 9% between 2021 and 2030.
By the end of 2030, the cumulative global wind capacity is expected to exceed 1,756 GW
.
Wood Mackenzie's fourth-quarter forecast reports that global new capacity additions are forecast to add another 69 GW
compared to the previous quarter's outlook for the period 2021-2030.
China offers significant room for improvement in the latest forecast
.
Luke Lewandowski, research director at Wood Mackenzie, said: "The rapid growth in electricity demand driven by China's industrial sector and the recent power shortage in September have inspired China to
accelerate the development of renewable energy.
As a result, we have raised our wind capacity outlook
for China.
The market is expected to grow by 458 GW this decade and will continue to lead the global ranking
in terms of new capacity.
”
Lead analyst Xiaoyang Li added: "The sharp demand for electricity along China's coast has triggered an increase of 13 GW in the offshore wind sector, mainly concentrated between
2023 and 2026.
The country's commitment to net zero emissions is expected to drive 88 GW of offshore wind capacity
over the next decade.
”
As these markets respond to decarbonization targets and expected incentives, the US and Europe will also be major incremental markets
for wind power over the next decade.
