Chinese Manufacturers Capture 26% of Global Offshore Wind Foundation Market
Chinese firms are rapidly increasing their share of the offshore wind turbine foundation market, now accounting for 26% globally. This shift is crucial as it could lower project costs amid inflationary pressures in the sector.
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Chinese manufacturers now supply 26% of all offshore wind turbine foundations installed globally, marking a significant increase from near zero in 2020. This shift is expected to enhance supply availability and potentially reduce project costs, as foundations represent the second-highest expense in offshore wind farms, projected to comprise 19% of global EPC spending from 2026 to 2030.
While Chinese turbine exports face regulatory challenges, the foundations have gained acceptance internationally, with the domestic track record and cost advantages bolstering their appeal. By 2025, Chinese firms are expected to dominate over half of the market when including domestic projects, indicating a transformative impact on the global supply chain.
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