Offshore wind investments close gap to fossil fuels

Wind Industry Profile of

Offshore wind spending is increasingly closing the gap on oil and gas (O&G) investments and is forecast to surpass them in several key markets by 2030, Rystad Energy analysis indicates. While global O&G capital expenditure will rise nominally in this timeframe, anticipated growth in offshore wind investments will bring Europe, the United States and Asia (excluding China) to the tipping point before the end of the decade.

Although we expect global offshore O&G expenditure to increase marginally to more than $140 billion by 2030, the rapidly growing offshore wind sector is forecast to reach a market size of $87 billion over the same period – a 70% increase compared with 2021's market value of $50 billion. Furthermore, estimates show that less than $10 billion will... ... More: Official Press Release Rystad Energy

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Rystad Energy, investment, offshore, country, gap, spending, O&G, oil, gas, region, China, rapidly, capacity, wind farm, GW