The fast growing offshore wind sector represents exciting opportunities for Norwegian suppliers. To review their market positioning and to point to future growth prospects, Export Credit Norway, INTPOW and Greater Stavanger have commissioned the international wind experts MAKE Consulting. The report shows that, so far, Norwegian suppliers have only taken a relatively modest slice of the overall offshore wind market, accounting for an estimated 5 percent or less of deliveries to offshore wind projects since 2010.

The limits of offshore wind have been pushed since the first offshore wind turbine was erected in 1992 Ivar Slengesol, Export Credit Norway

MAKE expects the industry to grow by between 15 and 20 percent annually over the next few years. The quest to cut costs across the value chain offers fresh opportunities for Norwegian suppliers and INTPOW, Export Credit and Greater Stavanger expect the current slump in the oil and gas industry to spur more Norwegian suppliers with offshore or maritime expertise to enter the offshore wind industry. “The limits of offshore wind have been pushed since the first offshore wind turbine was erected in 1992 and the industry will continue to do so in the years to come. Consequently, the area characteristics of offshore wind turbines have changed and so has the supply chain. This has led to opportunities for new players to enter the market, new technologies and processes to be developed and old technologies to be replaced,” says Ivar Slengesol, Director of Industry and Clean Technologies at Export Credit Norway.