Research and development (R&D) expenses among the world’s top ten wind turbine OEMs are expected to increase to EUR 2.3 billion by 2023, which is a rise of circa 43.7% from the current number, according to a report by Wood Mackenzie Power & Renewables.
The Next-Generation Wind Turbine Models report writes that the R&D expenses have more than doubled in the last four years, reaching EUR 1.6 billion in 2018.
“Offshore wind turbine sizes are expected to sit at around 20MW by 2030. The cost of technology, balance of plant equipment and installation of vessels to handle such large components will play a crucial role in this increase,” said Shashi Barla , Wood Mackenzie Power & Renewables Principal Analyst.
“Turbine OEMs must work in tandem with the supply chain to ensure these technologies can be developed and deployed cost-effectively.”
Wind turbine OEMs are anticipated to continue this fast pace of new product introductions, with the 20+MW offshore turbines expected to have 280+m rotors, which is said to remain the central product differentiator.
WoodMac forecasts that more than 90 new offshore and onshore turbines will be launched within the next five years by the top ten leading OEMs.
“Mass migration to a product platform development approach will increase the number of new product variants customised to specific wind regimes,” Barla concluded.
“Lower product development costs, flexibility in component sourcing, stronger supplier relationships and increased economies of scale will result in a more cost-effective approach to mass customisation. This will address the global procurement needs of developers and asset owners.”