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Global $69.38 Bn Offshore Wind Power Markets to 2025

Research and Markets
·5-min read

Dublin, April 28, 2021 (GLOBE NEWSWIRE) -- The "Global Offshore Wind Power Market (2020-2025) by Component, Depth, End Use Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

The Global Offshore Wind Power Market is estimated to be USD 38.76 Bn in 2020 and is expected to reach USD 69.38 Bn by 2025, growing at a CAGR of 12.35%.

Market Dynamics

This growth is attributed to the increasing demand for clean energy in order to cut down carbon emissions and protect the environment by generating electricity through renewable resources. Offshore wind energy form an integral part of these clean energy resources and also has a higher capacity factor compared to onshore wind.

Whereas the restraint like high capital cost and maintenance and logistics issues and opportunities like Coal and Nuclear Phase-Out and Focus on Water Conservation are also the main factors driving the growth.

Market Segmentation

  • The Global Offshore Wind Power Market is segmented further based on Component, Depth, End Use and Geography.

  • By Component, the market is classified into Turbine, Support Structure, Electrical Infrastructure and Others.

  • By Depth, the market is classified as >0, 30 m, >30, 50 m and > 50 m.

  • By End Use, the market is classified as Offshore wind providers, Government and research organization, Consulting companies in the power industry, Public and private players.

  • By Geography, Americas is projected to lead the market.

Recent Developments

  • In March 2020, Enercon installed a new prototype E-138 EP3 for their E2 wind turbines at the Janneby site which is situated in Schleswig-Holstein, Germany. The new prototype increased the nominal power of E2 turbines from 3.5 MW to 4.2 MW and will help the company yield an additional power of 1.5 Million kWh every year.

  • In 2019, Siemens Gamesa Renewable Energy received an order to supply 8 MW offshore wind turbines to Orsted's 900 MW offshore wind farm in Taiwan.

  • In April 2018, MHI Vestas Offshore Wind announced its collaboration with Ramboll, company that produced the industry's first encapsulated foundation load software tool. The collaboration helped the company to develop software tool allowing foundation designers to perform integrated load analyses independently in closed-system, version of the full turbine model used for detailed foundation load simulations.

Company Profiles

  • Suzlon Group

  • A2 SEA

  • ABB Ltd.

  • Adwen GmBH

  • Alstom Energy Inc.

  • Areva Wind

  • China Ming Yang Wind Power Group Limited

  • Clipper Wind Power

  • Dong Energy A/S

  • Doosan Heavy Industries and Construction Co., Ltd

  • Eew Group

  • Erndtebrucker Eisenwerk Gmbh & Co. Kg

  • Gamesa Corporacion Technologica SA

  • GE Wind Energy

  • General Electric Company

  • Goldwind Science and Technology Co. Ltd.

  • J.J Cole Collections.

  • MHI Vestas Offshore Wind A/S

  • Ming Yang Smart Energy Group Limited

  • Nexans S.A.

  • Nordex SE

  • Northland Power Inc.

  • Senvion SA

  • Siemens Gamesa Renewable Energy, S.A.

  • Sinovel Wind Group Co. Ltd.

  • Vestas Wind Systems A/S

Report Highlights

  • A complete analysis of the market, including parent industry

  • Important market dynamics and trends

  • Market segmentation

  • Historical, current, and projected size of the market based on value and volume

  • Market shares and strategies of key players

  • Recommendations to companies for strengthening their foothold in the market

Key Topics Covered:

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders

2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study

3 Executive Summary

4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Changing preference of consumers
4.2.1.2 Increase in demand for conventional sources of energy
4.2.1.3 Rise in demand for electricity consumption
4.2.2 Restraints
4.2.2.1 High Capital Cost and Maintenance and Logistics Issues
4.2.3 Opportunities
4.2.3.1 Coal and Nuclear Phase-Out
4.2.3.2 Focus on Water Conservation
4.2.4 Challenges
4.2.4.1 Growth of Distributed Energy Resources
4.3 Trends

5 Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis

6 Global Offshore Wind Power Market, By Component
6.1 Introduction
6.2 Turbine
6.3 Support Structure
6.4 Electrical Infrastructure
6.5 Others

7 Global Offshore Wind Power Market, By Depth
7.1 Introduction
7.2 >0- 30 m
7.3 >30-50 m
7.4 > 50 m

8 Global Offshore Wind Power Market, By End User
8.1 Introduction
8.2 Offshore wind providers
8.3 Government and research organization
8.4 Consulting companies in the power industry
8.5 Public and private players

9 Global Offshore Wind Power Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 South America
9.3.1 Brazil
9.3.2 Argentina
9.4 Europe
9.4.1 UK
9.4.2 France
9.4.3 Germany
9.4.4 Italy
9.4.5 Spain
9.4.6 Rest of Europe
9.5 Asia-Pacific
9.5.1 China
9.5.2 Japan
9.5.3 India
9.5.4 Indonesia
9.5.5 Malaysia
9.5.6 South Korea
9.5.7 Australia
9.5.8 Russia
9.5.9 Rest of APAC
9.6 Rest of the World
9.6.1 Qatar
9.6.2 Saudi Arabia
9.6.3 South Africa
9.6.4 United Arab Emirates
9.6.5 Latin America

10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Agreement, Collaborations, & Partnerships
10.3.3 New Product Launches & Enhancements
10.3.4 Investments & Funding

11 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/mxi877


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