Offshore Wind Energy Market Key Findings by 2031
Decline in the reserves of natural resources have propelled researchers to look for alternative methods of energy generations. Water resources are available in abundance on the earth and harnessing their powers for energy generations could relive the pressures on the non-renewable sources of energy. Offshore wind turbines is an innovative method of harnessing the power of sea for power generation. The off-shore wind turbines use the power of sea winds for the generation of carbon-free renewable energy. The working principle of off-shore wind turbines is same as that of on-shore wind turbines and they are either anchored to the sea bed or are mounted on a floating structure.
MARKET DYNAMICS
Rising demands for renewable energy and initiative taken by the Government towards reduction of carbon footprints is enabling growth in the offshore wind energy market. Significant costs associated with off-shore wind energy generation poses a challenge to the growth of the offshore wind energy market. Further, phasing out of the non-renewable sources of energy and increasing investments towards development of alternative sources of power generation are expected to provide significant growth opportunities for the players operating in the offshore wind energy market.
MARKET SCOPE
The "Global Offshore Wind Energy Market Analysis to 2031" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the offshore wind energy market with detailed market segmentation by component, location and geography. The global offshore wind energy market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading offshore wind energy market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global offshore wind energy market is segmented on the basis of component and location. Based on component, the offshore wind energy market is segmented into turbine, substructure, electrical infrastructure and others. On the basis of location, the offshore wind energy market is segmented into shallow water, transitional water and deep water.
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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 energy 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 America. The offshore wind energy market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of eighteen countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the offshore wind energy 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 America after evaluating political, economic, social and technological factors affecting the offshore wind energy in these regions.
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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 energy 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 America. The offshore wind energy market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of eighteen countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the offshore wind energy 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 America after evaluating political, economic, social and technological factors affecting the offshore wind energy in these regions.
MARKET PLAYERS
The reports cover key developments in the offshore wind energy 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 payers from offshore wind energy market are anticipated to lucrative growth opportunities in the future with the rising demand for offshore wind energy in the global market. Below mentioned is the list of few companies engaged in the offshore wind energy market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the offshore wind energy market. 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, the key development in the past five years.
- A2Sea
- ABB Ltd.
- General Electric Wind Energy
- Goldwind Science and Technology Co. Ltd.
- MHI Vestas
- Ming Yang Smart Energy Group Limited
- Nexans
- Siemens Wind Power
- Sinovel Wind Group Co., Ltd
- Suzlon Group
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Offshore Wind Energy Market - By Component
1.3.2 Offshore Wind Energy Market - By Location
1.3.3 Offshore Wind Energy Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. OFFSHORE WIND ENERGY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. OFFSHORE WIND ENERGY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. OFFSHORE WIND ENERGY MARKET - GLOBAL MARKET ANALYSIS
6.1. OFFSHORE WIND ENERGY - GLOBAL MARKET OVERVIEW
6.2. OFFSHORE WIND ENERGY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. OFFSHORE WIND ENERGY MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENT
7.1. OVERVIEW
7.2. COMPONENT MARKET FORECASTS AND ANALYSIS
7.3. TURBINE
7.3.1. Overview
7.3.2. Turbine Market Forecast and Analysis
7.4. SUBSTRUCTURE
7.4.1. Overview
7.4.2. Substructure Market Forecast and Analysis
7.5. ELECTRICAL INFRASTRUCTURE
7.5.1. Overview
7.5.2. Electrical Infrastructure Market Forecast and Analysis
7.6. OTHERS
7.6.1. Overview
7.6.2. Others Market Forecast and Analysis
8. OFFSHORE WIND ENERGY MARKET - REVENUE AND FORECASTS TO 2028 - LOCATION
8.1. OVERVIEW
8.2. LOCATION MARKET FORECASTS AND ANALYSIS
8.3. SHALLOW WATER
8.3.1. Overview
8.3.2. Shallow Water Market Forecast and Analysis
8.4. TRANSITIONAL WATER
8.4.1. Overview
8.4.2. Transitional Water Market Forecast and Analysis
8.5. DEEP WATER
8.5.1. Overview
8.5.2. Deep Water Market Forecast and Analysis
9. OFFSHORE WIND ENERGY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Offshore Wind Energy Market Overview
9.1.2 North America Offshore Wind Energy Market Forecasts and Analysis
9.1.3 North America Offshore Wind Energy Market Forecasts and Analysis - By Component
9.1.4 North America Offshore Wind Energy Market Forecasts and Analysis - By Location
9.1.5 North America Offshore Wind Energy Market Forecasts and Analysis - By Countries
9.1.5.1 United States Offshore Wind Energy Market
9.1.5.1.1 United States Offshore Wind Energy Market by Component
9.1.5.1.2 United States Offshore Wind Energy Market by Location
9.1.5.2 Canada Offshore Wind Energy Market
9.1.5.2.1 Canada Offshore Wind Energy Market by Component
9.1.5.2.2 Canada Offshore Wind Energy Market by Location
9.1.5.3 Mexico Offshore Wind Energy Market
9.1.5.3.1 Mexico Offshore Wind Energy Market by Component
9.1.5.3.2 Mexico Offshore Wind Energy Market by Location
9.2. EUROPE
9.2.1 Europe Offshore Wind Energy Market Overview
9.2.2 Europe Offshore Wind Energy Market Forecasts and Analysis
9.2.3 Europe Offshore Wind Energy Market Forecasts and Analysis - By Component
9.2.4 Europe Offshore Wind Energy Market Forecasts and Analysis - By Location
9.2.5 Europe Offshore Wind Energy Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Offshore Wind Energy Market
9.2.5.1.1 Germany Offshore Wind Energy Market by Component
9.2.5.1.2 Germany Offshore Wind Energy Market by Location
9.2.5.2 France Offshore Wind Energy Market
9.2.5.2.1 France Offshore Wind Energy Market by Component
9.2.5.2.2 France Offshore Wind Energy Market by Location
9.2.5.3 Italy Offshore Wind Energy Market
9.2.5.3.1 Italy Offshore Wind Energy Market by Component
9.2.5.3.2 Italy Offshore Wind Energy Market by Location
9.2.5.4 United Kingdom Offshore Wind Energy Market
9.2.5.4.1 United Kingdom Offshore Wind Energy Market by Component
9.2.5.4.2 United Kingdom Offshore Wind Energy Market by Location
9.2.5.5 Russia Offshore Wind Energy Market
9.2.5.5.1 Russia Offshore Wind Energy Market by Component
9.2.5.5.2 Russia Offshore Wind Energy Market by Location
9.2.5.6 Rest of Europe Offshore Wind Energy Market
9.2.5.6.1 Rest of Europe Offshore Wind Energy Market by Component
9.2.5.6.2 Rest of Europe Offshore Wind Energy Market by Location
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Offshore Wind Energy Market Overview
9.3.2 Asia-Pacific Offshore Wind Energy Market Forecasts and Analysis
9.3.3 Asia-Pacific Offshore Wind Energy Market Forecasts and Analysis - By Component
9.3.4 Asia-Pacific Offshore Wind Energy Market Forecasts and Analysis - By Location
9.3.5 Asia-Pacific Offshore Wind Energy Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Offshore Wind Energy Market
9.3.5.1.1 Australia Offshore Wind Energy Market by Component
9.3.5.1.2 Australia Offshore Wind Energy Market by Location
9.3.5.2 China Offshore Wind Energy Market
9.3.5.2.1 China Offshore Wind Energy Market by Component
9.3.5.2.2 China Offshore Wind Energy Market by Location
9.3.5.3 India Offshore Wind Energy Market
9.3.5.3.1 India Offshore Wind Energy Market by Component
9.3.5.3.2 India Offshore Wind Energy Market by Location
9.3.5.4 Japan Offshore Wind Energy Market
9.3.5.4.1 Japan Offshore Wind Energy Market by Component
9.3.5.4.2 Japan Offshore Wind Energy Market by Location
9.3.5.5 South Korea Offshore Wind Energy Market
9.3.5.5.1 South Korea Offshore Wind Energy Market by Component
9.3.5.5.2 South Korea Offshore Wind Energy Market by Location
9.3.5.6 Rest of Asia-Pacific Offshore Wind Energy Market
9.3.5.6.1 Rest of Asia-Pacific Offshore Wind Energy Market by Component
9.3.5.6.2 Rest of Asia-Pacific Offshore Wind Energy Market by Location
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Offshore Wind Energy Market Overview
9.4.2 Middle East and Africa Offshore Wind Energy Market Forecasts and Analysis
9.4.3 Middle East and Africa Offshore Wind Energy Market Forecasts and Analysis - By Component
9.4.4 Middle East and Africa Offshore Wind Energy Market Forecasts and Analysis - By Location
9.4.5 Middle East and Africa Offshore Wind Energy Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Offshore Wind Energy Market
9.4.5.1.1 South Africa Offshore Wind Energy Market by Component
9.4.5.1.2 South Africa Offshore Wind Energy Market by Location
9.4.5.2 Saudi Arabia Offshore Wind Energy Market
9.4.5.2.1 Saudi Arabia Offshore Wind Energy Market by Component
9.4.5.2.2 Saudi Arabia Offshore Wind Energy Market by Location
9.4.5.3 U.A.E Offshore Wind Energy Market
9.4.5.3.1 U.A.E Offshore Wind Energy Market by Component
9.4.5.3.2 U.A.E Offshore Wind Energy Market by Location
9.4.5.4 Rest of Middle East and Africa Offshore Wind Energy Market
9.4.5.4.1 Rest of Middle East and Africa Offshore Wind Energy Market by Component
9.4.5.4.2 Rest of Middle East and Africa Offshore Wind Energy Market by Location
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Offshore Wind Energy Market Overview
9.5.2 South and Central America Offshore Wind Energy Market Forecasts and Analysis
9.5.3 South and Central America Offshore Wind Energy Market Forecasts and Analysis - By Component
9.5.4 South and Central America Offshore Wind Energy Market Forecasts and Analysis - By Location
9.5.5 South and Central America Offshore Wind Energy Market Forecasts and Analysis - By Countries
9.5.5.1 Argentina Offshore Wind Energy Market
9.5.5.1.1 Argentina Offshore Wind Energy Market by Component
9.5.5.1.2 Argentina Offshore Wind Energy Market by Location
9.5.5.2 Chile Offshore Wind Energy Market
9.5.5.2.1 Chile Offshore Wind Energy Market by Component
9.5.5.2.2 Chile Offshore Wind Energy Market by Location
9.5.5.3 Rest of South and Central America Offshore Wind Energy Market
9.5.5.3.1 Rest of South and Central America Offshore Wind Energy Market by Component
9.5.5.3.2 Rest of South and Central America Offshore Wind Energy Market by Location
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. OFFSHORE WIND ENERGY MARKET, KEY COMPANY PROFILES
11.1. A2SEA
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ABB LTD.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. GENERAL ELECTRIC WIND ENERGY
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GOLDWIND SCIENCE AND TECHNOLOGY CO. LTD.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. MHI VESTAS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MING YANG SMART ENERGY GROUP LIMITED
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. NEXANS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SIEMENS WIND POWER
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SINOVEL WIND GROUP CO., LTD
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SUZLON GROUP
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.A2Sea2.ABB Ltd.3.General Electric Wind Energy4.Goldwind Science and Technology Co. Ltd.5.MHI Vestas6.Ming Yang Smart Energy Group Limited7.Nexans8.Siemens Wind Power9.Sinovel Wind Group Co., Ltd10.Suzlon Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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