Offshore Wind Energy Market, By Foundation (Floating and Bottom Founded), By Component (Turbine, Substructure, and Others), By Location (Shallow Water, Transitional Water, and Deep Water), By Geography (North America, Latin America, Europe, Asia Pacific,
Offshore Wind Energy Market, By Foundation (Floating and Bottom Founded), By Component (Turbine, Substructure, and Others), By Location (Shallow Water, Transitional Water, and Deep Water), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)
Global offshore wind energy market has witnessed significant growth over the 2022. Growing concerns regarding climate change and focus on transitioning to cleaner sources of energy have been the key driver in boosting investments and installations of offshore wind turbines across coastal regions worldwide. Offshore wind farms offer the benefit of access to stronger and steadier winds as compared to their onshore counterparts resulting in higher efficiencies. With rapidly declining costs of offshore wind energy generation and enabling policy support from national governments, the offshore wind sector is expected to play a critical role in achieving renewable energy adoption targets.
Market Dynamics:
Growing awareness about climate change and efforts towards lowering carbon emissions have been the key driver propelling growth of the global offshore wind energy market. Rising concerns regarding environmental pollution from conventional power generation methods have led governments worldwide to offer subsidies and regulatory incentives for development of utility-scale offshore wind projects. Favourable policy support in the form of tax benefits and increasing renewable purchase obligations for states/regions have encouraged investments in this sector. However, high upfront costs that are associated with offshore infrastructure development and complexities related to coastal construction pose challenges to widespread commercialization. Furthermore, lack of specialized installation and maintenance vessels further adds to project expenses for offshore locations in deep waters. Ongoing technological advancements in turbine designs that are focused on improving efficiency and operability in harsh offshore conditions are expected to lower the cost of energy generation.
Key features of the study:
This report provides in-depth analysis of the global offshore wind energy market , and provides market size (US$ Bn & GW) and compound annual growth rate (CAGR %) for the forecast period (2024–2031), considering 2023 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for the global offshore wind energy market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global offshore wind energy market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include MHI Vestas Offshore Wind, Siemens Gamesa Renewable Energy, S.A., J.J Cole Collections, Sinovel Wind Group Co., Ltd, Erndtebrücker Eisenwerk Gmbh & Co. Kg, Northland Power Inc., ABB Ltd., Ming Yang Smart Energy Group Limited, Adwen Gmbh, General Electric Company, A2SEA A/S, and Nexans.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
Global offshore wind energy market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global offshore wind energy market.
Detailed Segmentation:
Global Offshore Wind Energy Market, By Foundation
Floating
Bottom Founded
Global Offshore Wind Energy Market, By Component
Turbine
Substructure
Others (Electric components, etc.)
Global Offshore Wind Energy Market, By Location
Shallow Water
Transitional Water
Deep Water
Global Offshore Wind Energy Market, By Region
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Top Companies in the Global Offshore Wind Energy Market
MHI Vestas Offshore Wind
Siemens Gamesa Renewable Energy, S.A.
J Cole Collections
Sinovel Wind Group Co., Ltd
Erndtebrücker Eisenwerk Gmbh & Co. Kg
Northland Power Inc.
Ming Yang Smart Energy Group Limited
Adwen GmBH
General Electric Company
A2SEA A/S
Nexans
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Market Snippet, By Foundation
Market Snippet, By Component
Market Snippet, By Location
Market Snippet, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Increasing global investments in renewable energy are likely to drive the offshore wind market
Highly fragmented market dominated by major market players
Restraints
High capital cost and logistics issues
Opportunities
Supportive renewable portfolio standards and carbon emission reduction targets
Emergence of offshore wind tenders and leasing rounds demand
Key Highlights
Recent Trends
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER’s Analysis
Mergers, Acquisitions, and Collaborations
4. Global Offshore Wind Energy Market, By Foundation, 2019 – 2031, (US$ Bn & GW)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019 - 2031
Segment Trends
Floating
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn & GW)
Bottom Founded
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn & GW)
5. Global Offshore Wind Energy Market, By Component, 2019 – 2031, (US$ Bn & GW)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019 - 2031
Segment Trends
Turbine
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn & GW)
Substructure
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn & GW)
Others (Electric components, etc.)
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn & GW)
6. Global Offshore Wind Energy Market, By Location, 2019 – 2031, (US$ Bn & GW)
Introduction
Market Share Analysis, 2024 and 2031 (%)
Y-o-Y Growth Analysis, 2019 - 2031
Segment Trends
Shallow Water
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn & GW)
Transitional Water
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn & GW)
Deep Water
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2019 - 2031, (US$ Bn & GW)
7. Global Offshore Wind Energy Market, By Region, 2019 – 2031, (US$ Bn & GW)
Introduction
Market Share Analysis, By Region, 2024 and 2031 (%)
Y-o-Y Growth Analysis, By Region, 2019 – 2031
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Foundation, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Component, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Location, 2019 –2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Bn & GW)
U.S.
Canada
Europe
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Foundation, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Component, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Location, 2019 –2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Bn & GW)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Foundation, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Component, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Location, 2019 –2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Bn & GW)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Foundation, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Component, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Location, 2019 –2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2019 - 2031, (US$ Bn & GW)
Brazil
Argentina
Mexico
Middle East & Africa
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Foundation, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Component, 2019 – 2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Location, 2019 –2031, (US$ Bn & GW)
Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2019 - 2031, (US$ Bn & GW)
GCC Countries
Israel
Rest of Middle East
8. Competitive Landscape
Company Profiles
MHI Vestas Offshore Wind
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
Siemens Gamesa Renewable Energy, S.A.
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
J.J Cole Collections
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
Sinovel Wind Group Co., Ltd
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
Erndtebrücker Eisenwerk Gmbh & Co. Kg
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
Northland Power Inc.
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
Ming Yang Smart Energy Group Limited
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
Adwen GmBH
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
General Electric Company
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
A2SEA A/S
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
Nexans
Company Overview
Bidet Portfolio
Financial Performance
Recent Developments/Updates
Future Plans
Analyst Views
9. Section
References
Research Methodology
About us
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