Siemens extends offshore wind market lead over Vestas

Industry data shows Siemens grew its share of the offshore wind market to 60 per cent in 2013, leaving nearest rival Vestas trailing further behind on 27 per cent.

The data also indicates a worrying drop in new projects being carried out.

The German engineering group saw its market share increase by two percentage points in 2013 as against Vestas (OMX: VWS), who dropped five percentage points last year.

Reuters reports that Siemens (NYSESI) installed over 1,249 turbines in European waters, followed by Vestas with 574 turbines, according to European Wind Energy Association (EWEA) statistics.

Offshore wind power
The data also shows that despite record offshore figures there is a marked slowdown in new projects.

Overall European offshore wind capacity rose last year by one third to 2,080 turbines, but the growth was concentrated in the first half of the year, hinting at a slow-down in new build activity over the past six months.

"The unclear political support for offshore wind energy - especially in key offshore wind markets like the UK and Germany - has led to delays to planned projects and fewer new projects being launched," said Justin Wilkes, deputy chief executive at EWEA. "This means installations are likely to plateau until 2015, followed by a decline as from 2016."

EWEA expects some 3 GW in new offshore wind capacity to come online in Europe in the coming years, compared to the current 6.5 GW, and has identified a total of 22 GW of approved projects in the pipeline.

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