Europe Offshore Wind Energy Market Size By Turbine Rating, By Installation, By Component, Depth & Forecast, 2023

Description

List of Tables

Europe Offshore Wind Energy Market is poised to exhibit over 46% CAGR between 2023 and 2032. Factors such as growth in environmental awareness and favorable government policies focused on meeting Europe's renewable energy targets will stimulate industry growth over the next ten years. For instance, the European Union has set a binding target of 32% renewable energy share in final energy consumption by 2030. This target is broken down into individual targets for each EU member state. Besides, consistent technological upgrades in the clean energy space continue to drive offshore wind energy market expansion across Europe.

The overall Europe offshore wind energy market share is segregated based on turbine rating, component, installation, depth, and country.

With respect to turbine rating, the ≤ 2 MW segment could exhibit over 27% CAGR from 2023 to 2032. ≤ 2 MW turbines are gaining momentum due to their efficiency, cost-effectiveness, and suitability for various offshore projects. The market for these turbines is expected to witness multifold growth as more countries invest in offshore wind energy to meet their renewable energy goals.

In terms of installation, the fixed segment could demonstrate over 15% growth rate over 2023-2032. Fixed offshore wind installations offer increased stability and reliability, making them a preferred choice for many European countries. Besides, their ability to harness the full potential of offshore wind resources contributes to a sustainable energy future for Europe, favoring their adoption in the coming years.

Regarding components, the Europe Offshore Wind Energy Market share from the turbine segment will expand at over 17% CAGR through 2032. Turbines are at the heart of offshore wind farms, and consistent improvements in their design and technology are crucial for improving energy production and reliability. Component manufacturers are focusing on developing cutting-edge solutions to enhance the performance and longevity of offshore wind turbines, further supporting the market growth.

Germany stands out as a pivotal player in the Europe Offshore Wind Energy Market depicting over 27% CAGR between 2023 and 2032. The country has made substantial investments in offshore wind projects along its North Sea and Baltic Sea coastlines. Germany's commitment to renewable energy and ambitious targets for offshore wind capacity make it a prime market for both domestic and international industry players. For instance, Germany is a world leader in renewable energy, with over 40% of its electricity coming from renewable sources. The country also has several policies in place to support renewable energy, including a FIT, an RPS, and a generous net metering scheme. These optimistic scenarios will create a favorable growth outlook for the Germany offshore wind energy industry through 2032.

Product Code: 6165

Chapter 1 Methodology & Scope

1.1 Market definitions
1.2 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 Europe offshore wind energy industry 360 degree synopsis, 2019 - 2032
- 2.1.1 Business trends
- 2.1.2 Turbine rating trends
- 2.1.3 Installation trends
- 2.1.4 Axis trends
- 2.1.5 Component trends
- 2.1.6 Depth trends
- 2.1.7 Country trends

Chapter 3 Europe Offshore Wind Energy Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Vendor matrix
3.2 Regulatory landscape
3.3 Industry impact forces
- 3.3.1 Growth drivers
  - 3.3.1.1 Unexplored wind energy potential along with expansion of available wind sources
  - 3.3.1.2 Technological advancements
  - 3.3.1.3 Transition to low carbon economy
- 3.3.2 Industry pitfalls & challenges
  - 3.3.2.1 High upfront cost
  - 3.3.2.2 Grid integration and stability
3.4 Growth potential analysis
3.5 Porter's Analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
3.6 PESTEL Analysis

Chapter 4 Competitive Benchmarking

4.1 Innovation & sustainability landscape
4.2 Competitive landscape, 2022
- 4.2.1 Strategic dashboard

Chapter 5 Europe Offshore Wind Energy Market, By Turbine Rating

5.1 Key turbine rating trends
5.2 ≤ 2 MW
5.3 >2≤ 5 MW
5.4 >5≤ 8 MW
5.5 >8≤10 MW
5.6 >10≤ 12 MW
5.7 > 12 MW

Chapter 6 Europe Offshore Wind Energy Market, By Installation

6.1 Key installation trends
6.2 Fixed
6.3 Floating

Chapter 7 Europe Offshore Wind Energy Market, By Component

7.1 Key component trends
7.1 Turbine
7.2 Support structure
7.3 Electrical infrastructure
7.4 Others

Chapter 8 Europe Offshore Wind Energy Market, By Depth

8.1 Key depth trends
8.2 >0 ≤30 m
8.3 >30 ≤50 m
8.4 > 50 m

Chapter 9 Europe Offshore Wind Energy Market, By Country

9.1 Key country trends
9.2 Germany
9.3 Spain
9.4 UK
9.5 France
9.6 Italy
9.7 Sweden
9.8 Poland
9.9 Denmark
9.10 Portugal
9.11 Netherlands
9.12 Ireland
9.13 Belgium

Chapter 10 Company Profiles

10.1 Envision Group
10.2 Senvion
10.3 RTS Wind AG
10.4 Suzlon Energy Limited
10.5 WEG
10.6 Global Energy (Group) Limited
10.7 Siemens Gamesa Renewable Energy
10.8 Ørsted
10.9 Prysmian Group
10.10 Nexans
10.11 Sumitomo Electric Industries, Ltd.
10.12 LS Cable & System Ltd.
10.13 FURUKAWA ELECTRIC CO., LTD
10.14 ENESSERE S.r.l.
10.15 Vestas
10.16 General Electric
10.17 Goldwind
10.18 Simply Blue Group
10.19 Enercon GmbH
10.20 Equinor ASA