Global Offshore Wind Turbine Market 2022-2026

Global Offshore Wind Turbine Market 2022-2026

Technavio has been monitoring the offshore wind turbine market and it is poised to grow by 54975 MT during 2022-2026, accelerating at a CAGR of 24% during the forecast period. Our report on the offshore wind turbine market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by government support for wind energy projects, a decline in LCOE for wind power generation, and a rise in offshore installations.

The offshore wind turbine market analysis includes the substructures segment and geographic landscape.

Technavio's offshore wind turbine market is segmented as below:

By Substructures

• Monopiles
• Gravity foundation
• Others

By Geographical Landscape

• EMEA
• APAC
• Americas

This study identifies the rise in offshore installations as one of the prime reasons driving the offshore wind turbine market growth during the next few years.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the offshore wind turbine market covers the following areas:

• Offshore wind turbine market sizing
• Offshore wind turbine market forecast
• Offshore wind turbine market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading offshore wind turbine market vendors that include Eaton Corporation Plc, ENERCON GmbH, General Electric Co., Hitachi Ltd., Nordex SE, Senvion SA, Siemens AG, Suzlon Energy Ltd., Vestas Wind System AS, and Xinjiang Goldwind Science & Technology Co. Ltd. Also, the offshore wind turbine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.