China accounts for about 80% of the world

According to the "Nihon Keizai Shimbun" website reported on June 13, the offshore wind power market continues to expand. According to the Global Wind Energy Council, the amount of new (offshore wind power) installed in the world in 2021 will be about three times that of 2020. The engine that plays the role of this is China. In terms of new (offshore wind power installed capacity) in 2021, China alone accounts for about 80% of the world. The development momentum of China's offshore wind power is unabated, and it is changing the map of the world's wind power equipment manufacturers.

The rapid expansion of the Chinese market is particularly striking. In 2021, the new grid-connected capacity of offshore wind power across the country will be 16.9 million kilowatts, a year-on-year increase of more than four times. In the face of China's rapid growth, Europe which has developed offshore wind power, is also eclipsed.

The report pointed out that there are two main reasons for the rapid growth of the Chinese market: one is the relevant fixed-price procurement system. The second reason is the active intervention of the government.

In the context of the rapidly expanding market, the presence of Chinese wind power equipment manufacturers is also increasing, the report said. Bloomberg New Energy Finance has ranked manufacturers by 2021 offshore wind capacity, and the results show that Chinese companies take the top four spots.

According to reports, Japan's offshore wind power market has not officially launched. But even in Japan, where there is only a potential market, there is a trend of using Chinese wind power equipment. VENTI JAPAN, a wind power company based in Akita City, Japan, will explore the use of Chinese-made equipment in a project off the coast of Toyama Prefecture. Compared with European and American products, the size of equipment manufactured by Chinese companies is more suitable, which is the decisive factor.

The report believes that with the support of huge domestic demand, Chinese companies have actively invested in mass production, accumulating technology and performance. Just as solar panels have swept the global market in a similar fashion, Chinese (wind-power equipment manufacturing) companies may also move away from thriving mainly at home and keep pace with European companies in overseas markets.

The global offshore wind power market is expected to continue its steady expansion in 2022. The growth momentum of the Chinese market may slow down, but it will continue to play a pulling role. Affected by the soaring energy prices and other factors, the cost of wind equipment made in Europe has risen, and the price competitiveness of Chinese companies that can supply a large amount of raw materials and fuels by themselves will be relatively enhanced.