Key View
- Development in the global wind power sector has accelerated in the past decade, with technology and efficiency advancements supporting strong wind power market growth. We believe these technology improvements will drive the further development of wind sectors in South Korea and Japan.
- Over the coming 10 years, there will be a pivot towards offshore wind in these two markets, as onshore wind becomes less competitive to developers and investors from land permitting and public opposition.
- We caveat that offshore wind also has its fair share of challenges, mainly in the area of policy support and grid connections, hindering greater growth of the sector.
