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

Market Overview:

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, Électricité 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Foundation Type, Capacity, Location, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered E.ON SE, Électricité 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.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

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?

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    Électricité 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

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