CITIC Securities favours leading offshore wind equipment makers, sees 2027 order recovery
In short
CITIC Securities said it favours leading offshore wind core equipment makers with advantages in technology, products and market share. It expects domestic and overseas project tenders and supply chain orders to recover first in 2027, with shipments and earnings growth starting from 2028.
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CITIC Securities said in a research report that it favours leading offshore wind core equipment makers with advantages in technology, products and market share. Yicai described the view as coming from the brokerage's research report, and Jiemian and 36Kr carried the same text. [ 1 , 2 , 3 ]
The brokerage said domestic policy and planning support for offshore wind is being increased, so deep-sea and far-sea project development is expected to speed up. It added that procurement demand in Europe's offshore wind supply chain is building toward a new round of volume growth, and that domestic and overseas demand may reach a turning point. [ 1 , 2 , 3 ]
For core supply chain segments such as monopiles and subsea cables, CITIC Securities said the domestic deep-sea trend will upgrade product specifications, raise value per unit and move share toward leading firms. It said European local capacity is structurally tightening, which opens room overseas for leading manufacturers with manufacturing strengths and global supporting capability. [ 1 , 2 , 3 ]
CITIC Securities expects project tenders and supply chain orders in China and abroad to recover first in 2027. From 2028, it said, product shipments and earnings growth may enter a new phase of delivery. [ 1 , 2 , 3 ]
Why it matters
The coverage reports a brokerage's sector view, not a company result or a policy decision. It indicates how CITIC Securities sees domestic and European demand for offshore wind supply chain products developing.
Key facts
- CITIC Securities said domestic policy and planning support for offshore wind is being stepped up, and development of deep-sea and far-sea projects is expected to speed up. [ 1 , 2 , 3 ]
- The brokerage said procurement demand in Europe's offshore wind supply chain is building toward a new round of volume growth, and that domestic and overseas demand may reach a turning point. [ 1 , 2 , 3 ]
- For core supply chain segments such as monopiles and subsea cables, CITIC Securities said the domestic deep-sea trend will raise product specifications and value per unit and push market share toward leading firms. [ 1 , 2 , 3 ]
- CITIC Securities said European local capacity is structurally tightening, opening room overseas for leading manufacturers with manufacturing strengths and global supporting capability. [ 1 , 2 , 3 ]
- It expects domestic and overseas project tenders and supply chain orders to recover first in 2027, with shipments and earnings growth possibly entering a new phase from 2028. [ 1 , 2 , 3 ]
Confirmed by several sources
- Nothing is confirmed by two independent outlets yet.
Still unclear
- Which companies CITIC Securities regards as leading offshore wind core equipment makers. The documents do not name any companies.
- The basis for the 2027 and 2028 forecasts. The documents give only the brokerage's expectations, with no figures or supporting data.
- CITIC Securities said it favours leading offshore wind core equipment makers with advantages in technology, products and market share; Yicai, Jiemian and 36Kr all reported this. Reported by a single source so far
- CITIC Securities expects tenders and supply chain orders in China and abroad to recover first in 2027, with shipments and earnings growth from 2028. Reported by a single source so far