Rystad Energy's analysis reveals that Europe's demand for offshore wind towers will outstrip manufacturing capacity by 2028, with supply able to meet only about 70% of the demand.
While Spain and Denmark currently lead Europe in offshore wind tower supply, the demand is set to increase significantly as offshore wind developers request larger turbines.Offshore wind developments are a critical component of Europe’s energy transition plans, but a supply headache could be on the horizon for the industry before the end of the decade.
If Europe is to reverse this trend, manufacturers need to initiate expansion in the next two years, since it takes between two and three years to build new facilities. These forecasts assume no major steel shortage, so manufacturers can work at full capacity. If a shortage materializes, Europe could face a supply issue even earlier than expected.
While the average turbine capacity fixed in Europe in 2023 is expected to reach almost 10 megawatts , Rystad Energy estimates that 50% of the total turbines installed between 2029 and 2035 will be bigger than 14 MW, with some projects forecasting to build 20-MW at the beginning of 2030.
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