Global Wind Industry in Good Mood, Germany Slowly Recovering: Report

In spite of 2020 crisis, wind industry comes across as stable, as compared to many other sectors: The mood in the global wind industry is increasingly seen in a positive light, shows the results of the new WindEnergy trend:index (WEtix) report.

November 02, 2020. By Manu Tayal

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In spite of 2020 crisis, wind industry comes across as stable, as compared to many other sectors: The mood in the global wind industry is increasingly seen in a positive light, shows the results of the new WindEnergy trend:index (WEtix) report.

WEtix has been prepared twice every year since 2018 by WindEnergy Hamburg jointly with wind:research, the leading market research institute for wind energy.

This is the 6th online survey, conducted in autumn 2020, for the global mood barometer, in which over 1,250 market stakeholders responded. All in all over 7,500 individuals have taken part in these surveys to date, assessing the prospects of the global onshore and offshore wind energy industry.

The survey further added that, the future of offshore wind energy in particular has received very optimistic assessments, with best-ever results for Europe, and in particular, Asia.

Following some extremely negative values in autumn 2019, the mood in the German wind industry is slowly recovering, as well. While the mood about the onshore wind segment continues to be restrained despite a marked improvement, the future prospects for the offshore wind industry in particular are now being seen as positive,” the report added.

Furthermore, the coronavirus pandemic doesn’t seem to have a major impact on the optimistic expectations for the coming years: a majority of respondents either believe that the pandemic has no effect on the wind industry at all, or that it actually affects it in a positive manner. Digitalisation and the production of green hydrogen are believed to harbour additional growth potential, it said.

In November last year, the WEtix produced some extremely negative results. But now the mood in the German wind industry is slowly recovering.

Nevertheless, expectations for the long-term development of the German wind industry are now more optimistic: 2-year predictions for the onshore market, while still relatively cautious compared with the results for other regions, are now somewhat more positive. What is more, looking at the prospective offshore wind market 2 years from now, Germany received the best assessment to date since WEtix surveys were first launched in 2018.

The report further added that the market situation in the onshore wind industry in North America and Asia is increasingly seen as positive, and the values for Europe, following last year's decline, are now back in the positive range, if only slightly. The assessment of the market in the rest of the world remains positive, despite some losses. Around the world expectations for the future onshore wind market are confident. In Asia and rest of the world in particular, market outlook is positive.

However, the coronavirus crisis has not dampened the current good mood in the wind industry: Answering the newly added question about the effects of the pandemic, over 50 per cent of respondents for onshore, and more than 60 per cent for offshore either indicated that in their opinion COVID-19 has no effect on the wind industry at all, or that it actually affects it in a positive or even very positive manner. Although, these responses contrast with close to 40 per cent who fear negative consequences, said the survey.

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