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Market Research Report
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1091912

Offshore Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Published: | IMARC Services Private Limited | 145 Pages | Delivery time: 2-3 business days

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Offshore Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
Published: June 13, 2022
IMARC Services Private Limited
Content info: 145 Pages
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

The global offshore wind energy market reached a value of US$ 9.14 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 24.71 Billion by 2027, exhibiting a CAGR of 16.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Offshore wind energy relies on wind turbines located in ocean waters to generate electricity, which is transmitted via cables to the mainland grid. It is a cost-effective, abundant, and clean source of energy. It can provide reliable and affordable renewable power near coastal energy load centers wherein there is a scarcity of sites for large-scale renewable energy development. It helps reduce greenhouse gas (GHG) emissions, increase energy security and diversity, create jobs, and promote sustainable development. At present, there is a rise in the adoption of renewable sources of energy production and consumption across the globe, which is catalyzing the demand for offshore wind energy.

Offshore Wind Energy Market Trends:

There is presently a considerable increase in the number of offshore wind farms worldwide. This, in confluence with the burgeoning energy sector, represents one of the key factors impelling the growth of the market. Moreover, onshore wind energy is nowadays near the development limit in several countries on account of the visual and noise impact constraints that make it increasingly challenging to find appropriate sites. Besides this, physical blockages from buildings and landscapes like hills or mountains can also cause inconsistencies in production, and consequently, onshore wind cannot fails in generating energy year-round. However, recent developments in offshore wind energy are reducing visual impacts, minimizing turbulence, and lowering noise constraints. It is also more productive than land-based wind energy due to higher and more consistent wind speeds, which is impelling the market growth. Furthermore, the construction of offshore wind turbine plants is more feasible as large offshore turbines can be transported using barges or ships. This, coupled with increasing investments in upcoming offshore wind power projects by governing authorities, is driving the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global offshore wind energy market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, foundation type, capacity and location.

Breakup by Component:

  • Turbine
  • Substructure
  • Electrical Infrastructure
  • Others

Breakup by Foundation Type:

  • Fixed Foundation
  • Floating Foundation

Breakup by Capacity:

  • Less Than 5 MW
  • Greater than or Equal to 5 MW

Breakup by Location:

  • Shallow Water
  • Transitional Water
  • Deep Water

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being E.ON SE, Electricite de France S.A., Equinor ASA, General Electric Company, Nordex SE, Northland Power Inc., Ørsted A/S, Siemens Gamesa Renewable Energy S.A. (Siemens Energy AG), Suzlon Energy Limited, Vestas Wind Systems A/S and Xinjiang Goldwind Science & Technology Co. Ltd.

Key Questions Answered in This Report:

  • How has the global offshore wind energy market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global offshore wind energy market?
  • What are the key regional markets?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the foundation type?
  • What is the breakup of the market based on the capacity?
  • What is the breakup of the market based on the location?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global offshore wind energy market and who are the key players?
  • What is the degree of competition in the industry?
Product Code: SR0622A38_Report

Table of Contents

1 Preface

2 Scope and Methodology

  • 2.1 Objectives of the Study
  • 2.2 Stakeholders
  • 2.3 Data Sources
    • 2.3.1 Primary Sources
    • 2.3.2 Secondary Sources
  • 2.4 Market Estimation
    • 2.4.1 Bottom-Up Approach
    • 2.4.2 Top-Down Approach
  • 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

  • 4.1 Overview
  • 4.2 Key Industry Trends

5 Global Offshore Wind Energy Market

  • 5.1 Market Overview
  • 5.2 Market Performance
  • 5.3 Impact of COVID-19
  • 5.4 Market Forecast

6 Market Breakup by Component

  • 6.1 Turbine
    • 6.1.1 Market Trends
    • 6.1.2 Market Forecast
  • 6.2 Substructure
    • 6.2.1 Market Trends
    • 6.2.2 Market Forecast
  • 6.3 Electrical Infrastructure
    • 6.3.1 Market Trends
    • 6.3.2 Market Forecast
  • 6.4 Others
    • 6.4.1 Market Trends
    • 6.4.2 Market Forecast

7 Market Breakup by Foundation Type

  • 7.1 Fixed Foundation
    • 7.1.1 Market Trends
    • 7.1.2 Market Forecast
  • 7.2 Floating Foundation
    • 7.2.1 Market Trends
    • 7.2.2 Market Forecast

8 Market Breakup by Capacity

  • 8.1 Less Than 5 MW
    • 8.1.1 Market Trends
    • 8.1.2 Market Forecast
  • 8.2 Greater than or Equal to 5 MW
    • 8.2.1 Market Trends
    • 8.2.2 Market Forecast

9 Market Breakup by Location

  • 9.1 Shallow Water
    • 9.1.1 Market Trends
    • 9.1.2 Market Forecast
  • 9.2 Transitional Water
    • 9.2.1 Market Trends
    • 9.2.2 Market Forecast
  • 9.3 Deep Water
    • 9.3.1 Market Trends
    • 9.3.2 Market Forecast

10 Market Breakup by Region

  • 10.1 North America
    • 10.1.1 United States
      • 10.1.1.1 Market Trends
      • 10.1.1.2 Market Forecast
    • 10.1.2 Canada
      • 10.1.2.1 Market Trends
      • 10.1.2.2 Market Forecast
  • 10.2 Asia-Pacific
    • 10.2.1 China
      • 10.2.1.1 Market Trends
      • 10.2.1.2 Market Forecast
    • 10.2.2 Japan
      • 10.2.2.1 Market Trends
      • 10.2.2.2 Market Forecast
    • 10.2.3 India
      • 10.2.3.1 Market Trends
      • 10.2.3.2 Market Forecast
    • 10.2.4 South Korea
      • 10.2.4.1 Market Trends
      • 10.2.4.2 Market Forecast
    • 10.2.5 Australia
      • 10.2.5.1 Market Trends
      • 10.2.5.2 Market Forecast
    • 10.2.6 Indonesia
      • 10.2.6.1 Market Trends
      • 10.2.6.2 Market Forecast
    • 10.2.7 Others
      • 10.2.7.1 Market Trends
      • 10.2.7.2 Market Forecast
  • 10.3 Europe
    • 10.3.1 Germany
      • 10.3.1.1 Market Trends
      • 10.3.1.2 Market Forecast
    • 10.3.2 France
      • 10.3.2.1 Market Trends
      • 10.3.2.2 Market Forecast
    • 10.3.3 United Kingdom
      • 10.3.3.1 Market Trends
      • 10.3.3.2 Market Forecast
    • 10.3.4 Italy
      • 10.3.4.1 Market Trends
      • 10.3.4.2 Market Forecast
    • 10.3.5 Spain
      • 10.3.5.1 Market Trends
      • 10.3.5.2 Market Forecast
    • 10.3.6 Russia
      • 10.3.6.1 Market Trends
      • 10.3.6.2 Market Forecast
    • 10.3.7 Others
      • 10.3.7.1 Market Trends
      • 10.3.7.2 Market Forecast
  • 10.4 Latin America
    • 10.4.1 Brazil
      • 10.4.1.1 Market Trends
      • 10.4.1.2 Market Forecast
    • 10.4.2 Mexico
      • 10.4.2.1 Market Trends
      • 10.4.2.2 Market Forecast
    • 10.4.3 Others
      • 10.4.3.1 Market Trends
      • 10.4.3.2 Market Forecast
  • 10.5 Middle East and Africa
    • 10.5.1 Market Trends
    • 10.5.2 Market Breakup by Country
    • 10.5.3 Market Forecast

11 SWOT Analysis

  • 11.1 Overview
  • 11.2 Strengths
  • 11.3 Weaknesses
  • 11.4 Opportunities
  • 11.5 Threats

12 Value Chain Analysis

13 Porters Five Forces Analysis

  • 13.1 Overview
  • 13.2 Bargaining Power of Buyers
  • 13.3 Bargaining Power of Suppliers
  • 13.4 Degree of Competition
  • 13.5 Threat of New Entrants
  • 13.6 Threat of Substitutes

14 Price Analysis

15 Competitive Landscape

  • 15.1 Market Structure
  • 15.2 Key Players
  • 15.3 Profiles of Key Players
    • 15.3.1 E.ON SE
      • 15.3.1.1 Company Overview
      • 15.3.1.2 Product Portfolio
      • 15.3.1.3 Financials
      • 15.3.1.4 SWOT Analysis
    • 15.3.2 Electricite de France S.A.
      • 15.3.2.1 Company Overview
      • 15.3.2.2 Product Portfolio
      • 15.3.2.3 Financials
      • 15.3.2.4 SWOT Analysis
    • 15.3.3 Equinor ASA
      • 15.3.3.1 Company Overview
      • 15.3.3.2 Product Portfolio
      • 15.3.3.3 Financials
      • 15.3.3.4 SWOT Analysis
    • 15.3.4 General Electric Company
      • 15.3.4.1 Company Overview
      • 15.3.4.2 Product Portfolio
      • 15.3.4.3 Financials
      • 15.3.4.4 SWOT Analysis
    • 15.3.5 Nordex SE
      • 15.3.5.1 Company Overview
      • 15.3.5.2 Product Portfolio
      • 15.3.5.3 Financials
      • 15.3.5.4 SWOT Analysis
    • 15.3.6 Northland Power Inc.
      • 15.3.6.1 Company Overview
      • 15.3.6.2 Product Portfolio
      • 15.3.6.3 Financials
      • 15.3.6.4 SWOT Analysis
    • 15.3.7 Ørsted A/S
      • 15.3.7.1 Company Overview
      • 15.3.7.2 Product Portfolio
      • 15.3.7.3 Financials
      • 15.3.7.4 SWOT Analysis
    • 15.3.8 Siemens Gamesa Renewable Energy S.A. (Siemens Energy AG)
      • 15.3.8.1 Company Overview
      • 15.3.8.2 Product Portfolio
    • 15.3.9 Suzlon Energy Limited
      • 15.3.9.1 Company Overview
      • 15.3.9.2 Product Portfolio
      • 15.3.9.3 Financials
      • 15.3.9.4 SWOT Analysis
    • 15.3.10 Vestas Wind Systems A/S
      • 15.3.10.1 Company Overview
      • 15.3.10.2 Product Portfolio
      • 15.3.10.3 Financials
      • 15.3.10.4 SWOT Analysis
    • 15.3.11 Xinjiang Goldwind Science & Technology Co. Ltd.
      • 15.3.11.1 Company Overview
      • 15.3.11.2 Product Portfolio
      • 15.3.11.3 Financials
      • 15.3.11.4 SWOT Analysis

List of Figures

  • Figure 1: Global: Offshore Wind Energy Market: Major Drivers and Challenges
  • Figure 2: Global: Offshore Wind Energy Market: Sales Value (in Billion US$), 2016-2021
  • Figure 3: Global: Offshore Wind Energy Market Forecast: Sales Value (in Billion US$), 2022-2027
  • Figure 4: Global: Offshore Wind Energy Market: Breakup by Component (in %), 2021
  • Figure 5: Global: Offshore Wind Energy Market: Breakup by Foundation Type (in %), 2021
  • Figure 6: Global: Offshore Wind Energy Market: Breakup by Capacity (in %), 2021
  • Figure 7: Global: Offshore Wind Energy Market: Breakup by Location (in %), 2021
  • Figure 8: Global: Offshore Wind Energy Market: Breakup by Region (in %), 2021
  • Figure 9: Global: Offshore Wind Energy (Turbine) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 10: Global: Offshore Wind Energy (Turbine) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 11: Global: Offshore Wind Energy (Substructure) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 12: Global: Offshore Wind Energy (Substructure) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 13: Global: Offshore Wind Energy (Electrical Infrastructure) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 14: Global: Offshore Wind Energy (Electrical Infrastructure) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 15: Global: Offshore Wind Energy (Other Components) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 16: Global: Offshore Wind Energy (Other Components) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 17: Global: Offshore Wind Energy (Fixed Foundation) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 18: Global: Offshore Wind Energy (Fixed Foundation) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 19: Global: Offshore Wind Energy (Floating Foundation) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 20: Global: Offshore Wind Energy (Floating Foundation) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 21: Global: Offshore Wind Energy (Less Than 5 MW) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 22: Global: Offshore Wind Energy (Less Than 5 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 23: Global: Offshore Wind Energy (Greater than or Equal to 5 MW) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 24: Global: Offshore Wind Energy (Greater than or Equal to 5 MW) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 25: Global: Offshore Wind Energy (Shallow Water) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 26: Global: Offshore Wind Energy (Shallow Water) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 27: Global: Offshore Wind Energy (Transitional Water) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 28: Global: Offshore Wind Energy (Transitional Water) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 29: Global: Offshore Wind Energy (Deep Water) Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 30: Global: Offshore Wind Energy (Deep Water) Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 31: North America: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 32: North America: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 33: United States: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 34: United States: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 35: Canada: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 36: Canada: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 37: Asia-Pacific: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 38: Asia-Pacific: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 39: China: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 40: China: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 41: Japan: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 42: Japan: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 43: India: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 44: India: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 45: South Korea: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 46: South Korea: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 47: Australia: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 48: Australia: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 49: Indonesia: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 50: Indonesia: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 51: Others: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 52: Others: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 53: Europe: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 54: Europe: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 55: Germany: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 56: Germany: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 57: France: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 58: France: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 59: United Kingdom: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 60: United Kingdom: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 61: Italy: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 62: Italy: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 63: Spain: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 64: Spain: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 65: Russia: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 66: Russia: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 67: Others: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 68: Others: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 69: Latin America: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 70: Latin America: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 71: Brazil: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 72: Brazil: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 73: Mexico: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 74: Mexico: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 75: Others: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 76: Others: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 77: Middle East and Africa: Offshore Wind Energy Market: Sales Value (in Million US$), 2016 & 2021
  • Figure 78: Middle East and Africa: Offshore Wind Energy Market: Breakup by Country (in %), 2021
  • Figure 79: Middle East and Africa: Offshore Wind Energy Market Forecast: Sales Value (in Million US$), 2022-2027
  • Figure 80: Global: Offshore Wind Energy Industry: SWOT Analysis
  • Figure 81: Global: Offshore Wind Energy Industry: Value Chain Analysis
  • Figure 82: Global: Offshore Wind Energy Industry: Porter's Five Forces Analysis

List of Tables

  • Table 1: Global: Offshore Wind Energy Market: Key Industry Highlights, 2021 and 2027
  • Table 2: Global: Offshore Wind Energy Market Forecast: Breakup by Component (in Million US$), 2022-2027
  • Table 3: Global: Offshore Wind Energy Market Forecast: Breakup by Foundation Type (in Million US$), 2022-2027
  • Table 4: Global: Offshore Wind Energy Market Forecast: Breakup by Capacity (in Million US$), 2022-2027
  • Table 5: Global: Offshore Wind Energy Market Forecast: Breakup by Location (in Million US$), 2022-2027
  • Table 6: Global: Offshore Wind Energy Market Forecast: Breakup by Region (in Million US$), 2022-2027
  • Table 7: Global: Offshore Wind Energy Market: Competitive Structure
  • Table 8: Global: Offshore Wind Energy Market: Key Players