Offshore Wind Turbine Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Offshore wind turbines are used in wind farms construction, off the shore, or on the continental shelf to harvest wind energy for electricity generation. These include inshore water areas such as lakes, and sheltered coastal areas, which use conventional fixed bottom wind turbine technologies, and the deepwater regions use floating wind turbines. The increasing investment in the renewable energy sector is the primary factor propelling the growth of the offshore wind turbine market in the forecast period. Countries such as South Korea, China, and India have several new offshore projects in the prototype phase.

MARKET DYNAMICS

The offshore wind turbine market is anticipated to grow in the forecast period owing to the increasing energy demand, coupled with the regulations on energy efficiency. However, heavy investments for the production and installation of offshore wind turbines is the major factor which may restrain the growth of the offshore wind turbine market during the forecast period. On the other hand, the increase in investment for the construction of new wind farms, refinancing operations, and project acquisitions offer lucrative opportunities for the offshore wind turbine market.

MARKET SCOPE

The "Global Offshore Wind Turbine Market Analysis to 2031” is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The report aims to provide an overview of offshore wind turbine market with detailed market segmentation by capacity, application, and geography. The global offshore wind turbine market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading offshore wind turbine market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global offshore wind turbine market is segmented on the basis of capacity and application. Based on capacity, the market is segmented as Upto 1 MW, 1-3 MW, 3-5 MW, and 5 MW and above. On the basis of the application, the market is segmented as deep water and shallow water.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global offshore wind turbine market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The offshore wind turbine market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting offshore wind turbine market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the offshore wind turbine market in these regions.

MARKET PLAYERS

The reports cover key developments in the offshore wind turbine market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from offshore wind turbine market are anticipated to lucrative growth opportunities in the future with the rising demand for offshore wind turbine in the global market. Below mentioned is the list of few companies engaged in the offshore wind turbine market.

The report also includes the profiles of key offshore wind turbine companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

 Doosan Heavy Industries & Construction

 Envision Group

 General Electric Company

 Hitachi, Ltd.

 NORDEX SE

 Senvion S.A.

 Siemens AG

 Sinovel Wind Group Co., Ltd.

 Vestas Wind Systems A/S

 Weg S.A.

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Offshore Wind Turbine Report Scope

Report Attribute	Details
Market size in 2023	US$ XX Million
Market Size by 2031	US$ XX Million
Global CAGR (2023 - 2031)	XX%
Historical Data	2021-2022
Forecast period	2024-2031
Segments Covered	By Capacity Upto 1 MW 1 to 3 MW 3 to 5 MW 5 MW and Above By Application Deep Water Shallow Water
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Doosan Heavy Industries and Construction Envision Group General Electric Company Hitachi, Ltd. NORDEX SE Senvion S.A. Siemens AG Sinovel Wind Group Co., Ltd. Vestas Wind Systems A/S