Offshore Platform Electrification Market Size By Technology (Offshore Wind, Underground Cable, Turbine) & Forecast, 2023 - 2032

Offshore Platform Electrification Market Size By Technology (Offshore Wind, Underground Cable, Turbine) & Forecast, 2023 - 2032


Offshore Platform Electrification Market size is estimated to witness over 19.5% CAGR from 2023 to 2032, driven by the ongoing technological advancements and innovations for revolutionizing the offshore energy sector for offering enhanced efficiency, sustainability, and cost-effectiveness.

Of late, HVDC (high-voltage direct current) transmission is revolutionizing the way offshore platforms receive and utilize electricity as it minimizes energy losses during transmission, further offering cost-effective and environmentally sustainable benefits. Moreover, the increasing deployment of HVDC systems at remote offshore locations, where traditional energy transmission methods are not feasible, is contributing to the market growth. For instance, in April 2022, it was reported that Dogger Bank is set to become the very first offshore wind project in the U.K to deploy Hitachi Energy's latest generation HVDC converter technology to transmit the electricity generated back to shore.

The offshore platform electrification market is segmented in terms of technology and region.

With respect to technology, the offshore platform electrification market is set to experience over 4.5% growth rate from the turbine segment through 2032. The ongoing shift towards greener energy sources globally is expected to propel the demand for electrification in providing sustainable power to offshore platforms. For instance, in August 2023, the world's largest offshore wind farm began construction of its first 277 turbines, as a step toward accelerating the shift to safer, greener energy sources.

Regionally, North America offshore platform electrification market is expected to expand at over 5.5% CAGR from 2023 to 2032. The increasing focus on renewable energy sources, such as offshore wind farms in the region is driving the demand for electrification solutions. Additionally, the need for reliable and stable power supply to remote offshore locations is accelerating the deployment of technological advancements and investments in offshore electrification infrastructure. For instance, in September 2022, the Biden administration revealed plans to build floating platforms in the deep ocean for wind turbines to power millions of households and significantly increase offshore wind in the U.S.


Chapter 1 Methodology & Scope
1.1 Market scope and definitions
1.2 Market estimates & forecast parameters
1.2.1 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Offshore platform electrification industry 360 degree synopsis, 2019 - 2032
2.1.1 Business trends
2.1.2 Technology trends
2.1.3 Regional trends
Chapter 3 Offshore Platform Electrification Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Vendor Matrix
3.2 Regulatory landscape
3.3 COVID- 19 impact on the industry outlook
3.4 Industry impact forces
3.4.1 Growth drivers
3.4.2 Industry pitfalls & challenges
3.5 Growth potential analysis
3.6 Porter's Analysis
3.6.1 Bargaining power of suppliers
3.6.2 Bargaining power of buyers
3.6.3 Threat of new entrants
3.6.4 Threat of substitutes
3.7 PESTEL Analysis
Chapter 4 Competitive Benchmarking
4.1 Competitive landscape, 2022
4.1.1 Strategic dashboard
4.2 Innovation & technology landscape
Chapter 5 Offshore Platform Electrification Market, By Technology
5.1 Key technology trends
5.2 Offshore wind
5.3 Underground cable
5.4 Turbine
Chapter 6 Offshore Platform Electrification Market, By Region
6.1 Key regional trends
6.2 North America
6.2.1 U.S.
6.2.2 Canada
6.3 Europe
6.3.1 Norway
6.3.2 UK
6.3.3 Netherlands
6.3.4 Denmark
6.4 Asia Pacific
6.4.1 China
6.4.2 Japan
6.4.3 South Korea
6.4.4 Vietnam
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 UAE
6.5.3 Qatar
6.5.4 Oman
6.6 Latin America
6.6.1 Brazil
6.6.2 Mexico
Chapter 7 Company Profiles
7.1 Cerulean Winds Ltd
7.2 SLB
7.3 ABB
7.4 Havfram
7.5 Nexans
7.6 Equinor ASA
7.7 Siemens Energy
7.8 General Electric
7.9 Aker Solutions
7.10 Prysmian Group
7.11 BP p.l.c.
7.12 ADNOC Group
7.13 Norddeutsche Seekabelwerke GmbH
7.14 NKT A/S
Data Tables
TABLE 1 Global market, 2019 - 2022 (Revenue)
TABLE 2 Global market, 2023 - 2027 (Revenue)
TABLE 3 Global market, 2028 - 2032 (Revenue)
TABLE 4 Global market by technology, 2019 - 2022 (USD Million)
TABLE 5 Global market by technology, 2023 - 2027 (USD Million)
TABLE 6 Global market by technology, 2028 - 2032 (USD Million)
TABLE 7 Global market by region, 2019 - 2022 (USD Million)
TABLE 8 Global market by region, 2023 - 2027 (USD Million)
TABLE 9 Global market by region, 2028 - 2032 (USD Million)
TABLE 10 Industry impact forces
TABLE 11 Global market from offshore wind, 2019 - 2022 (Revenue)
TABLE 12 Global market from offshore wind, 2023 - 2027 (Revenue)
TABLE 13 Global market from offshore wind, 2028 - 2032 (Revenue)
TABLE 14 Global market from offshore wind, by region, 2019 - 2022 (USD Million)
TABLE 15 Global market from offshore wind, by region, 2023 - 2027 (USD Million)
TABLE 16 Global market from offshore wind, by region, 2028 - 2032 (USD Million)
TABLE 17 Global market from underground cable, 2019 - 2022 (Revenue)
TABLE 18 Global market from underground cable, 2023 - 2027 (Revenue)
TABLE 19 Global market from underground cable, 2028 - 2032 (Revenue)
TABLE 20 Global market from underground cable, by region, 2019 - 2022 (USD Million)
TABLE 21 Global market from underground cable, by region, 2023 - 2027 (USD Million)
TABLE 22 Global market from underground cable, by region, 2028 - 2032 (USD Million)
TABLE 23 Global market from turbine, 2019 - 2022 (Revenue)
TABLE 24 Global market from turbine, 2023 - 2027 (Revenue)
TABLE 25 Global market from turbine, 2028 - 2032 (Revenue)
TABLE 26 Global market from turbine, by region, 2019 - 2022 (USD Million)
TABLE 27 Global market from turbine, by region, 2023 - 2027 (USD Million)
TABLE 28 Global market from turbine, by region, 2028 - 2032 (USD Million)
TABLE 29 North America market, 2019 - 2022 (Revenue)
TABLE 30 North America market, 2023 - 2027 (Revenue)
TABLE 31 North America market, 2028 - 2032 (Revenue)
TABLE 32 North America market by technology, 2019 - 2022 (USD Million)
TABLE 33 North America market by technology, 2023 - 2027 (USD Million)
TABLE 34 North America market by technology, 2028 - 2032 (USD Million)
TABLE 35 U.S. market, 2019 - 2022 (Revenue)
TABLE 36 U.S. market, 2023 - 2027 (Revenue)
TABLE 37 U.S. market, 2028 - 2032 (Revenue)
TABLE 38 U.S. market by technology, 2019 - 2022 (USD Million)
TABLE 39 U.S. market by technology, 2023 - 2027 (USD Million)
TABLE 40 U.S. market by technology, 2028 - 2032 (USD Million)
TABLE 41 Canada market, 2019 - 2022 (Revenue)
TABLE 42 Canada market, 2023 - 2027 (Revenue)
TABLE 43 Canada market, 2028 - 2032 (Revenue)
TABLE 44 Canada market by technology, 2019 - 2022 (USD Million)
TABLE 45 Canada market by technology, 2023 - 2027 (USD Million)
TABLE 46 Canada market by technology, 2028 - 2032 (USD Million)
TABLE 47 Europe market, 2019 - 2022 (Revenue)
TABLE 48 Europe market, 2023 - 2027 (Revenue)
TABLE 49 Europe market, 2028 - 2032 (Revenue)
TABLE 50 Europe market by technology, 2019 - 2022 (USD Million)
TABLE 51 Europe market by technology, 2023 - 2027 (USD Million)
TABLE 52 Europe market by technology, 2028 - 2032 (USD Million)
TABLE 53 Norway market, 2019 - 2022 (Revenue)
TABLE 54 Norway market, 2023 - 2027 (Revenue)
TABLE 55 Norway market, 2028 - 2032 (Revenue)
TABLE 56 Norway market by technology, 2019 - 2022 (USD Million)
TABLE 57 Norway market by technology, 2023 - 2027 (USD Million)
TABLE 58 Norway market by technology, 2028 - 2032 (USD Million)
TABLE 59 UK market, 2019 - 2022 (Revenue)
TABLE 60 UK market, 2023 - 2027 (Revenue)
TABLE 61 UK market, 2028 - 2032 (Revenue)
TABLE 62 UK market by technology, 2019 - 2022 (USD Million)
TABLE 63 UK market by technology, 2023 - 2027 (USD Million)
TABLE 64 UK market by technology, 2028 - 2032 (USD Million)
TABLE 65 Netherlands market, 2019 - 2022 (Revenue)
TABLE 66 Netherlands market, 2023 - 2027 (Revenue)
TABLE 67 Netherlands market, 2028 - 2032 (Revenue)
TABLE 68 Netherlands market by technology, 2019 - 2022 (USD Million)
TABLE 69 Netherlands market by technology, 2023 - 2027 (USD Million)
TABLE 70 Netherlands market by technology, 2028 - 2032 (USD Million)
TABLE 71 Denmark market, 2019 - 2022 (Revenue)
TABLE 72 Denmark market, 2023 - 2027 (Revenue)
TABLE 73 Denmark market, 2028 - 2032 (Revenue)
TABLE 74 Denmark market by technology, 2019 - 2022 (USD Million)
TABLE 75 Denmark market by technology, 2023 - 2027 (USD Million)
TABLE 76 Denmark market by technology, 2028 - 2032 (USD Million)
TABLE 77 Asia Pacific market, 2019 - 2022 (Revenue)
TABLE 78 Asia Pacific market, 2023 - 2027 (Revenue)
TABLE 79 Asia Pacific market, 2028 - 2032 (Revenue)
TABLE 80 Asia Pacific market by technology, 2019 - 2022 (USD Million)
TABLE 81 Asia Pacific market by technology, 2023 - 2027 (USD Million)
TABLE 82 Asia Pacific market by technology, 2028 - 2032 (USD Million)
TABLE 83 China market, 2019 - 2022 (Revenue)
TABLE 84 China market, 2023 - 2027 (Revenue)
TABLE 85 China market, 2028 - 2032 (Revenue)
TABLE 86 China market by technology, 2019 - 2022 (USD Million)
TABLE 87 China market by technology, 2023 - 2027 (USD Million)
TABLE 88 China market by technology, 2028 - 2032 (USD Million)
TABLE 89 Japan market, 2019 - 2022 (Revenue)
TABLE 90 Japan market, 2023 - 2027 (Revenue)
TABLE 91 Japan market, 2028 - 2032 (Revenue)
TABLE 92 Japan market by technology, 2019 - 2022 (USD Million)
TABLE 93 Japan market by technology, 2023 - 2027 (USD Million)
TABLE 94 Japan market by technology, 2028 - 2032 (USD Million)
TABLE 95 South Korea market, 2019 - 2022 (Revenue)
TABLE 96 South Korea market, 2023 - 2027 (Revenue)
TABLE 97 South Korea market, 2028 - 2032 (Revenue)
TABLE 98 South Korea market by technology, 2019 - 2022 (USD Million)
TABLE 99 South Korea market by technology, 2023 - 2027 (USD Million)
TABLE 100 South Korea market by technology, 2028 - 2032 (USD Million)
TABLE 101 Vietnam market, 2019 - 2022 (Revenue)
TABLE 102 Vietnam market, 2023 - 2027 (Revenue)
TABLE 103 Vietnam market, 2028 - 2032 (Revenue)
TABLE 104 Vietnam market by technology, 2019 - 2022 (USD Million)
TABLE 105 Vietnam market by technology, 2023 - 2027 (USD Million)
TABLE 106 Vietnam market by technology, 2028 - 2032 (USD Million)
TABLE 107 Middle East & Africa market, 2019 - 2022 (Revenue)
TABLE 108 Middle East & Africa market, 2023 - 2027 (Revenue)
TABLE 109 Middle East & Africa market, 2028 - 2032 (Revenue)
TABLE 110 Middle East & Africa market by technology, 2019 - 2022 (USD Million)
TABLE 111 Middle East & Africa market by technology, 2023 - 2027 (USD Million)
TABLE 112 Middle East & Africa market by technology, 2028 - 2032 (USD Million)
TABLE 113 Saudi Arabia market, 2019 - 2022 (Revenue)
TABLE 114 Saudi Arabia market, 2023 - 2027 (Revenue)
TABLE 115 Saudi Arabia market, 2028 - 2032 (Revenue)
TABLE 116 Saudi Arabia market by technology, 2019 - 2022 (USD Million)
TABLE 117 Saudi Arabia market by technology, 2023 - 2027 (USD Million)
TABLE 118 Saudi Arabia market by technology, 2028 - 2032 (USD Million)
TABLE 119 UAE market, 2019 - 2022 (Revenue)
TABLE 120 UAE market, 2023 - 2027 (Revenue)
TABLE 121 UAE market, 2028 - 2032 (Revenue)
TABLE 122 UAE market by technology, 2019 - 2022 (USD Million)
TABLE 123 UAE market by technology, 2023 - 2027 (USD Million)
TABLE 124 UAE market by technology, 2028 - 2032 (USD Million)
TABLE 125 Qatar market, 2019 - 2022 (Revenue)
TABLE 126 Qatar market, 2023 - 2027 (Revenue)
TABLE 127 Qatar market, 2028 - 2032 (Revenue)
TABLE 128 Qatar market by technology, 2019 - 2022 (USD Million)
TABLE 129 Qatar market by technology, 2023 - 2027 (USD Million)
TABLE 130 Qatar market by technology, 2028 - 2032 (USD Million)
TABLE 131 Oman market, 2019 - 2022 (Revenue)
TABLE 132 Oman market, 2023 - 2027 (Revenue)
TABLE 133 Oman market, 2028 - 2032 (Revenue)
TABLE 134 Oman market by technology, 2019 - 2022 (USD Million)
TABLE 135 Oman market by technology, 2023 - 2027 (USD Million)
TABLE 136 Oman market by technology, 2028 - 2032 (USD Million)
TABLE 137 Latin America market, 2019 - 2022 (Revenue)
TABLE 138 Latin America market, 2023 - 2027 (Revenue)
TABLE 139 Latin America market, 2028 - 2032 (Revenue)
TABLE 140 Latin America market by technology, 2019 - 2022 (USD Million)
TABLE 141 Latin America market by technology, 2023 - 2027 (USD Million)
TABLE 142 Latin America market by technology, 2028 - 2032 (USD Million)
TABLE 143 Brazil market, 2019 - 2022 (Revenue)
TABLE 144 Brazil market, 2023 - 2027 (Revenue)
TABLE 145 Brazil market, 2028 - 2032 (Revenue)
TABLE 146 Brazil market by technology, 2019 - 2022 (USD Million)
TABLE 147 Brazil market by technology, 2023 - 2027 (USD Million)
TABLE 148 Brazil market by technology, 2028 - 2032 (USD Million)
TABLE 149 Mexico market, 2019 - 2022 (Revenue)
TABLE 150 Mexico market, 2023 - 2027 (Revenue)
TABLE 151 Mexico market, 2028 - 2032 (Revenue)
TABLE 152 Mexico market by technology, 2019 - 2022 (USD Million)
TABLE 153 Mexico market by technology, 2023 - 2027 (USD Million)
TABLE 154 Mexico market by technology, 2028 - 2032 (USD Million)
Charts & Figures
FIG. 1 GMI report coverage: critical research elements
FIG. 2 Industry segmentation
FIG. 3 Market forecasting methodology
FIG. 4 Profile break-up of primary respondents
FIG. 5 Offshore platform electrification industry 360 degree synopsis, 2019 - 2032
FIG. 6 Industry ecosystem analysis
FIG. 7 Overall view of COVID- 19 effect, 2019 - 2032 (USD Million)
FIG. 8 Growth potential analysis
FIG. 9 Porter's Analysis
FIG. 10 PESTEL Analysis
FIG. 11 SWOT Analysis, Cerulean Winds Ltd
FIG. 12 SWOT Analysis, SLB
FIG. 13 SWOT Analysis, ABB
FIG. 14 SWOT Analysis, Havfram
FIG. 15 SWOT Analysis, Nexans
FIG. 16 SWOT Analysis, Equinor ASA
FIG. 17 SWOT Analysis, Siemens Energy
FIG. 18 SWOT Analysis, General Electric
FIG. 19 SWOT Analysis, Aker Solutions
FIG. 20 SWOT Analysis, Prysmian Group
FIG. 21 SWOT Analysis, BP p.l.c.
FIG. 22 SWOT Analysis, ADNOC Group
FIG. 23 SWOT Analysis, Norddeutsche Seekabelwerke GmbH
FIG. 24 SWOT Analysis, NKT A/S

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