Group 1: Domestic Wind Power Demand - In 2024, domestic land wind power bidding reached 100 GW, a year-on-year increase of 70%[3] - Expected land wind installations for 2024 and 2025 are 80 GW and 100 GW respectively, indicating a strong market outlook[3] - For offshore wind, 2024 installations are projected at 7-8 GW, with a significant increase to 13-15 GW in 2025, representing growth rates of 25% and 100% respectively[3] Group 2: European Offshore Wind Growth - By the end of 2025, European offshore wind installations are expected to increase, with new installations reaching over 8 GW in 2026-2027[3] - The cumulative offshore wind capacity in Europe is projected to reach 150 GW by 2030, with major contributions from the UK, Germany, and the Netherlands[40] - The average annual installation from 2024 to 2030 is estimated at 16.5 GW, driven by energy security concerns following the Russia-Ukraine conflict[40] Group 3: Market Dynamics and Investment Recommendations - The market for submarine cables is expected to grow to 73 billion CNY in 2024 and 159 billion CNY in 2025, with a compound annual growth rate of 16% from 2025 to 2030[3] - Investment recommendations include companies like Dongfang Cable and Qifan Cable, with a focus on firms benefiting from stable prices and cost optimization in the wind turbine sector[3] - The offshore wind market is anticipated to see a significant rebound in profitability due to stable pricing and cost reductions, particularly for turbine manufacturers[4]
风电2025年年度策略报告：陆海风需求共振，看好长期成长性
Soochow Securities·2024-12-10 01:10