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Market Research Report
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977686

Global Offshore Wind Market (Equipment, Installation & Turbine Services): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)

Published: | Koncept Analytics | 113 Pages | Delivery time: 1-2 business days

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Global Offshore Wind Market (Equipment, Installation & Turbine Services): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)
Published: December 16, 2020
Koncept Analytics
Content info: 113 Pages
Delivery time: 1-2 business days
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Description

The global offshore wind market is expected to record a value of US$51.75 billion in 2024, increasing at a CAGR of 14.21%, for the duration spanning 2020-2024. The factors such as rising penetration of offshore wind power, growing electricity demand, improvement in capacity factor, rising renewable energy consumption and escalating number of offshore wind farms would drive the growth of the market. However, the market growth would be challenged by foundations and transition piece challenges, development hurdles and environmental issues. A few notable trends may include decline in installation cost, increasing R&D spending on energy sector and evolution of offshore wind turbines.

The global offshore wind sector has been very lucrative over the past few years due to the consistent upgradation in the cutting-edge offshore wind farm technology. Companies in the energy sector are investing considerable funds in comprehensive offshore wind services to keep turbines running smoothly. In addition, certain government policies and initiatives towards implementing the clean energy plans are encouraging the use of considerable portion of wind energy, particularly offshore, for electricity generation, which is driving the market growth of offshore wind globally.

The fastest growing regional market was Europe due to the strong competition among the major players. There has been an increased number of multi contracts between offshore wind companies, over the past few years, which led to the growth of the market. Further, the COVID-19 outbreak caused country shutdowns, suspension of industrial activities as well as economic disruption, impacting the demand for electricity, which might cause a downfall in the global offshore wind market during the initial phase of the forecasted period.

Scope of the report:

The report provides a comprehensive analysis of the global offshore wind market.

The major regional markets (Europe, Asia Pacific and ROW, along with the country coverage of the U.K. Germany, Denmark, Belgium, Netherlands, China, Taiwan, South Korea, Japan and the U.S.) have been analyzed.

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

The competitive landscape of the market, along with the company profiles of leading players (Siemens, General Electric, ABB, Vestas, Nexans and EEW Group) are also presented in detail.

Key Target Audience:

Offshore Wind Equipment Manufacturers

Raw Material Suppliers

Potential Audience (Offshore wind Companies and Dealers)

Investment Banks

Government Bodies & Regulating Authorities

Table of Contents

Table of Contents

1. Market Overview

  • 1.1 An Introduction
  • 1.2 Difference Between Offshore and Onshore Wind Power
  • 1.3 Mechanism of Offshore Wind Farms
  • 1.4 Advantages of Offshore Wind Power
  • 1.5 Offshore Wind Service Value Chain

2. Impact of COVID-19

  • 2.1 Decline in Electricity Consumption
  • 2.2 Decline in the International Trade
  • 2.3 Impact on Energy Sector Investments

3. Global Market Analysis

  • 3.1 Global Offshore Wind Market by Value
  • 3.2 Global Offshore Wind Market Forecast by Value
  • 3.3 Global Offshore Wind Market by End-Industries
    • 3.3.1 Global Offshore Wind Equipment Market by Value
    • 3.3.2 Global Offshore Wind Equipment Market Forecast by Value
    • 3.3.3 Global Offshore Wind Installation Market by Value
    • 3.3.4 Global Offshore Wind Installation Market Forecast by Value
    • 3.3.5 Global Offshore Wind Turbine Services Market by Value
    • 3.3.6 Global Offshore Wind Turbine Services Market Forecast by Value
  • 3.4 Global Offshore Wind Installed Capacity
  • 3.5 Global Offshore Wind Installed Capacity Forecast
  • 3.6 Global Offshore Wind Installed Capacity by Regions

4. Regional Market Analysis

  • 4.1 Europe
    • 4.1.1 Europe Offshore Wind Installed Capacity
    • 4.1.2 Europe Offshore Wind Installed Capacity Forecast
    • 4.1.3 Europe Offshore Wind Installed Capacity by Country
    • 4.1.4 The U.K. Offshore Wind Installed Capacity
    • 4.1.5 The U.K. Offshore Wind Installed Capacity Forecast
    • 4.1.6 Germany Offshore Wind Installed Capacity
    • 4.1.7 Germany Offshore Wind Installed Capacity Forecast
    • 4.1.8 Denmark Offshore Wind Installed Capacity
    • 4.1.9 Denmark Offshore Wind Installed Capacity Forecast
    • 4.1.10 Belgium Offshore Wind Installed Capacity
    • 4.1.11 Belgium Offshore Wind Installed Capacity Forecast
    • 4.1.12 Netherlands Offshore Wind Installed Capacity
    • 4.1.13 Netherlands Offshore Wind Installed Capacity Forecast
  • 4.2 Asia Pacific
    • 4.2.1 Asia Pacific Offshore Wind Installed Capacity
    • 4.2.2 Asia Pacific Offshore Wind Installed Capacity Forecast
    • 4.2.3 Asia Pacific Offshore Wind Installed Capacity by Country
    • 4.2.4 China Offshore Wind Installed Capacity
    • 4.2.5 China Offshore Wind Installed Capacity Forecast
    • 4.2.6 Taiwan Offshore Wind Installed Capacity
    • 4.2.7 Taiwan Offshore Wind Installed Capacity Forecast
    • 4.2.8 South Korea Offshore Wind Installed Capacity
    • 4.2.9 South Korea Offshore Wind Installed Capacity Forecast
    • 4.2.10 Japan Offshore Wind Installed Capacity
    • 4.2.11 Japan Offshore Wind Installed Capacity Forecast
  • 4.3 The U.S.
    • 4.3.1 The U.S. Offshore Wind Installed Capacity Forecast
  • 4.4 ROW
    • 4.4.1 ROW Offshore Wind Installed Capacity
    • 4.4.2 ROW Offshore Wind Installed Capacity Forecast

5. Market Dynamics

  • 5.1 Growth Drivers
    • 5.1.1 Rising Penetration of Offshore Wind Power
    • 5.1.2 Growing Electricity Demand
    • 5.1.3 Improvement in Capacity Factor
    • 5.1.4 Rising Renewable Energy Consumption
    • 5.1.5 Escalating Numbers of Offshore Wind Farms
  • 5.2 Key Trends and Developments
    • 5.2.1 Decline in Installation Cost
    • 5.2.2 Increasing R&D Spending in Energy Sector
    • 5.2.3 Evolutions of Offshore Wind Turbines
  • 5.3 Challenges
    • 5.3.1 Foundations and Transition Piece Challenges
    • 5.3.2 Developmental Hurdles
    • 5.3.3 Environmental Issues

6. Competitive Landscape

  • 6.1 Global Market
    • 6.1.1 Key Players - Revenue Comparison
    • 6.1.2 Key Players - Market Cap Comparison
    • 6.1.3 Key Players - R&D Expenditure Comparison

7. Company Profiles

  • 7.1 Siemens
    • 7.1.1 Business Overview
    • 7.1.2 Financial Overview
    • 7.1.3 Business Strategies
  • 7.2 General Electric
    • 7.2.1 Business Overview
    • 7.2.2 Financial Overview
    • 7.2.3 Business Strategies
  • 7.3 ABB
    • 7.3.1 Business Overview
    • 7.3.2 Financial Overview
    • 7.3.3 Business Strategies
  • 7.4 Vestas
    • 7.4.1 Business Overview
    • 7.4.2 Financial Overview
    • 7.4.3 Business Strategies
  • 7.5 Nexans
    • 7.5.1 Business Overview
    • 7.5.2 Financial Overview
    • 7.5.3 Business Strategies
  • 7.6 EEW Group
    • 7.6.1 Business Overview
    • 7.6.2 Business Strategies

List of Figures

  • Mechanism of Offshore Wind Farms
  • Offshore Wind Service Value Chain
  • Change in Electricity Consumption in Selected Countries (2020)
  • Global Merchandise Trade Volume (2018-2021)
  • Global Offshore Wind Market by Value (2015-2019)
  • Global Offshore Wind Market Forecast by Value (2020-2024)
  • Global Offshore Wind Market by End-Industries (2019)
  • Global Offshore Wind Equipment Market by Value (2015-2019)
  • Global Offshore Wind Equipment Market Forecast by Value (2020-2024)
  • Global Offshore Wind Installation Market by Value (2015-2019)
  • Global Offshore Wind Installation Market Forecast by Value (2020-2024)
  • Global Offshore Wind Turbine Services Market by Value (2015-2019)
  • Global Offshore Wind Turbine Services Market Forecast by Value (2020-2024)
  • Global Offshore Wind Installed Capacity (2015-2019)
  • Global Offshore Wind Installed Capacity Forecast (2020-2024)
  • Global Offshore Wind Installed Capacity by Regions (2019)
  • Europe Offshore Wind Installed Capacity (2015-2019)
  • Europe Offshore Wind Installed Capacity Forecast (2020-2024)
  • Europe Offshore Wind Installed Capacity by Country (2019)
  • The U.K. Offshore Wind Installed Capacity (2015-2015)
  • The U.K. Offshore Wind Installed Capacity Forecast (2020-2024)
  • Germany Offshore Wind Installed Capacity (2015-2019)
  • Germany Offshore Wind Installed Capacity Forecast (2020-2024)
  • Denmark Offshore Wind Installed Capacity (2015-2019)
  • Denmark Offshore Wind Installed Capacity Forecast (2020-2024)
  • Belgium Offshore Wind Installed Capacity (2015-2019)
  • Belgium Offshore Wind Installed Capacity Forecast (2020-2024)
  • Netherlands Offshore Wind Installed Capacity (2015-2019)
  • Netherlands Offshore Wind Installed Capacity Forecast (2020-2024)
  • Asia Pacific Offshore Wind Installed Capacity (2015-2019)
  • Asia Pacific Offshore Wind Installed Capacity Forecast (2020-2024)
  • Asia Pacific Offshore Wind Installed Capacity by Country (2019)
  • China Offshore Wind Installed Capacity (2015-2019)
  • China Offshore Wind Installed Capacity Forecast (2020-2024)
  • Taiwan Offshore Wind Installed Capacity (2015-2019)
  • Taiwan Offshore Wind Installed Capacity Forecast (2020-2024)
  • South Korea Offshore Wind Installed Capacity (2015-2019)
  • South Korea Offshore Wind Installed Capacity Forecast (2020-2024)
  • Japan Offshore Wind Installed Capacity (2015-2019)
  • Japan Offshore Wind Installed Capacity Forecast (2020-2024)
  • The U.S. Offshore Wind Installed Capacity Forecast (2020-2024)
  • ROW Offshore Wind Installed Capacity (2015-2019)
  • ROW Offshore Wind Installed Capacity Forecast (2020-2024)
  • Share of Offshore Wind in Cumulative Wind Power Capacity (2015-2019)
  • Global Electricity Demand (2018-2024)
  • Global Offshore Wind Power Capacity Factor (2015-2019)
  • Global Renewable Energy Consumption (2015-2019)
  • Number of Offshore Wind Farms by Top Countries (2019)
  • Global Offshore Wind Power Installation Cost (2015-2019)
  • Global Corporate R&D Spending in Energy Sector (2015-2019)
  • Siemens Revenue and Net Income (2015-2019)
  • Siemens Revenue by Segments (2020)
  • Siemens Revenue by Regions (2020)
  • General Electric Revenues and Net Loss/Earnings (2015-2019)
  • General Electric Revenues by Segment (2019)
  • General Electric Revenues by Regions (2019)
  • ABB Total Revenue and Net Income (2015-2019)
  • ABB Total Revenue by Segments (2019)
  • ABB Total Revenue by Regions (2019)
  • Vestas Revenue and Profit (2015-2019)
  • Vestas Revenue by Segments (2019)
  • Vestas Revenue by Regions (2019)
  • Nexans Net Sales and Net Income/Loss (2015-2019)
  • Nexans Net Sales by Market (2019)
  • Nexans Net Sales by Regions (2019)

List of Tables

  • Difference Between Offshore and Onshore Wind Power
  • Evolutions of Offshore Wind Turbines Worldwide (2019-2024)
  • Key Players - Revenue Comparison (2019/2020)
  • Key Players - Market Cap Comparison (2020)
  • Key Players - R&D Expenditure Comparison (2020)