Chan Ye Xin Xi Wang·2025-06-20 01:16Core Viewpoint - The offshore wind power industry is experiencing unprecedented growth due to global energy transition and strong policy support, with China leading in installed capacity and technological advancements [1][12]. Group 1: Industry Overview - Offshore wind power utilizes abundant wind resources in marine environments to generate electricity, offering advantages such as higher wind speeds and less land use compared to onshore wind power [2]. - As of April 2025, China's cumulative wind power installed capacity reached 54,119 MW, with offshore wind accounting for 4,351 MW, representing 8.04% of total wind capacity [1][12]. - China has maintained the world's leading position in newly installed and cumulative offshore wind capacity for four consecutive years, holding nearly half of the global total [1][12]. Group 2: Development History - China's offshore wind power development has evolved from initial projects in 2007 to becoming the world's largest market by 2020, driven by policy support and technological innovation [6]. - The "14th Five-Year Plan" marks a critical turning point for the industry, aiming for higher quality and sustainable development [1][12]. Group 3: Policy Framework - The Chinese government has implemented systematic policies to support offshore wind power, including the "14th Five-Year Plan" which encourages the construction of offshore wind power bases and local government support [8][9]. - Policies are also promoting the integration of offshore wind with other sectors, such as marine ranching and floating photovoltaics, to enhance resource utilization [8][9]. Group 4: Industry Chain - The offshore wind power industry chain in China is robust, with stable supply of raw materials and continuous technological breakthroughs in key components [10]. - The manufacturing sector is dominated by leading companies that are pushing for larger turbine capacities and improved efficiency [10]. Group 5: Competitive Landscape - The market is characterized by a clear tiered structure, with leading companies like Envision Energy, Goldwind, and Mingyang Smart Energy dominating the first tier, while other firms are rapidly catching up [16][18]. - The competition has shifted from price-based to technology-driven, with a focus on large-scale turbine development and smart operation systems [16][18]. Group 6: Regional Development - Offshore wind power development in China shows a gradient pattern, with Guangdong and Jiangsu leading in installed capacity, while other provinces like Shandong and Zhejiang are also making significant progress [14]. - There remains a notable gap in meeting the "14th Five-Year Plan" targets, indicating a need for accelerated project construction [14]. Group 7: Future Trends - The industry is moving towards deep-sea development, with a focus on floating wind technology and multi-industry integration, which will enhance the overall capacity and efficiency of offshore wind power [24][25][26]. - Continuous technological upgrades are expected to improve turbine performance and operational efficiency, while fostering new business models through integration with other energy sectors [25][26].