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According to the latest research, the global Offshore Wind Energy market size was valued at USD 12437.51 million in 2022 and is expected to expand at a CAGR of 36.98% during the forecast period, reaching USD 82163.03 million by 2028.
Wind energy is characterized by its use of airflow for the production of mechanical power or electricity - making it a free, non-polluting renewable resource. A wind farm consists of several hundred wind turbines, generally grouped together into a single wind power plant. The wind power industry is comprised of two segments: onshore and offshore wind farms. Offshore wind, wind farms located in bodies of water, are considered to be steadier and stronger in comparison to onshore wind, located inland. However, its construction and maintenance costs are considerably higher than the latter.
Impact of COVID 19
The COVID- 19 pandemic has slowed down the overall market expansion. The global economic slowdown due to the COVID-19 pandemic has put the offshore wind energy industrys resilience and flexibility to the test. The pandemic continues to wreak havoc on the supply chain of the offshore wind energy industry. The production and supply chain delays were also witnessed during the COVID-19 which poised a challenge to the offshore wind energy market. Europe is one of the main markets for offshore wind energy, and it is also one of the most heavily impacted by COVID-19, which has slowed the continued expansion owing to project delays. Because of the interruptions to European and global trade, the projects under construction were delayed, resulting in higher CAPEX for such projects.
Increasing investments in the development of offshore wind energy infrastructure will propel the market demand
Rising investments in the development of deep seas offshore wind energy projects along with the rapid technological advancements is set to augment the business landscape. The integration of renewable energy sources along with the increasing utilization of clean energy will drive the industry growth. In addition, the private & public expenditure for the development & expansion of utility-scale projects coupled with ongoing identification of the potential sites for offshore wind projects will provide a momentum to the overall industry expansion. Surging investments toward the development of sustainable energy platforms including fixed and floating offshore wind projects will fuel the technology adoption. Low maintenance, reduced manpower requirement, and minimal land footprint are some of the prominent factors impelling the market share. Moreover, the robust R&D initiatives focused on enhancing the capacity utilization factor for energy generation in an economical & efficient manner will positively encourage the market dynamics.
The offshore wind energy industry is difficult to operate
Due to the numerous departments involved in the offshore wind energy industry, the offshore wind energy industry is subject to multi-management. At present, the approval speed of offshore wind energy projects is slow, the operation is difficult, and the low administrative efficiency will hinder the development of the industry. On the one hand, offshore wind energy development involves multiple management departments, such as maritime affairs, environmental protection, land resources, water conservancy, and other departments. There are differences in the recognition of offshore wind energy development among various departments, and the implementation of management standards and methods by relevant local functional departments is also different. Inconsistencies and overlapping of functions have appeared from time to time, which has caused the work cycle of offshore wind energy projects from the preliminary approval to the subsequent maintenance and operation to be lengthened, which greatly reduces the efficiency of the project.
Region Overview:
From 2022-2027, Asia-Pacific is estimated to witness robust growth prospects.
Company Overview:
Siemens Gamesa is one of the major players operating in the Offshore Wind Energy market, holding a share of 35.74% in 2021.
Siemens Gamesa
Siemens Gamesa supplies wind turbines and power solutions to customers. The company is a global leader in the renewable energy industry specifically in the development, installation, maintenance, and manufacturing of wind turbines. Siemens Gamesa's vision is to be the global leader in the renewable energy industry driving the transition towards a sustainable world. As the worlds only company operating at a global scale across the entire wind spectrum onshore, offshore and services Siemens Gamesa is well positioned to unlock the full potential of wind.
Shanghai Electric
Shanghai Electric Group is a world-class integrated high-end equipment manufacturer, focusing on smart energy, intelligent manufacturing and smart infrastructure, providing industrial-grade green and intelligent system solutions for customers. Shanghai Electric has a global presence in new energy, integrated energy, environmental protection, medical devices and industrial automation sectors.
Segmentation Overview:
As for product types, the 3-5 MW segment held the largest market share in 2021.
Application Overview:
By application, the Shallow Water segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Offshore Wind Energy industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Offshore Wind Energy. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Offshore Wind Energy Market Report Include:
Market Size Estimates: Offshore Wind Energy market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Offshore Wind Energy market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Offshore Wind Energy market
Segment Market Analysis: Offshore Wind Energy market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Offshore Wind Energy market situations and prospects in major and top regions and countries
Offshore Wind Energy Market
Offshore Wind Energy Industry Chain: Offshore Wind Energy market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Offshore Wind Energy Industry News, Policies by regions
Offshore Wind Energy Industry Porters Five Forces Analysis
Key players in the global Offshore Wind Energy market are covered in Chapter 2:
Goldwind
Ming Yang Wind Power
GE Renewable Energy
Vestas
Siemens Gamesa
Shanghai Electric
Sinovel
Envision Group
XEMC
In Chapter 6 and Chapter 9, on the basis of types, the Offshore Wind Energy market from 2018 to 2028 is primarily split into:
Below 3 MW
3-5 MW
5 MW and Above
In Chapter 7 and Chapter 10, on the basis of applications, the Offshore Wind Energy market from 2018 to 2028 covers:
Shallow Water
Deep Water
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Offshore Wind Energy market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Offshore Wind Energy industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Offshore Wind Energy market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Offshore Wind Energy industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Offshore Wind Energy market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Offshore Wind Energy market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Offshore Wind Energy market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Wind energy is characterized by its use of airflow for the production of mechanical power or electricity - making it a free, non-polluting renewable resource. A wind farm consists of several hundred wind turbines, generally grouped together into a single wind power plant. The wind power industry is comprised of two segments: onshore and offshore wind farms. Offshore wind, wind farms located in bodies of water, are considered to be steadier and stronger in comparison to onshore wind, located inland. However, its construction and maintenance costs are considerably higher than the latter.
Impact of COVID 19
The COVID- 19 pandemic has slowed down the overall market expansion. The global economic slowdown due to the COVID-19 pandemic has put the offshore wind energy industrys resilience and flexibility to the test. The pandemic continues to wreak havoc on the supply chain of the offshore wind energy industry. The production and supply chain delays were also witnessed during the COVID-19 which poised a challenge to the offshore wind energy market. Europe is one of the main markets for offshore wind energy, and it is also one of the most heavily impacted by COVID-19, which has slowed the continued expansion owing to project delays. Because of the interruptions to European and global trade, the projects under construction were delayed, resulting in higher CAPEX for such projects.
Increasing investments in the development of offshore wind energy infrastructure will propel the market demand
Rising investments in the development of deep seas offshore wind energy projects along with the rapid technological advancements is set to augment the business landscape. The integration of renewable energy sources along with the increasing utilization of clean energy will drive the industry growth. In addition, the private & public expenditure for the development & expansion of utility-scale projects coupled with ongoing identification of the potential sites for offshore wind projects will provide a momentum to the overall industry expansion. Surging investments toward the development of sustainable energy platforms including fixed and floating offshore wind projects will fuel the technology adoption. Low maintenance, reduced manpower requirement, and minimal land footprint are some of the prominent factors impelling the market share. Moreover, the robust R&D initiatives focused on enhancing the capacity utilization factor for energy generation in an economical & efficient manner will positively encourage the market dynamics.
The offshore wind energy industry is difficult to operate
Due to the numerous departments involved in the offshore wind energy industry, the offshore wind energy industry is subject to multi-management. At present, the approval speed of offshore wind energy projects is slow, the operation is difficult, and the low administrative efficiency will hinder the development of the industry. On the one hand, offshore wind energy development involves multiple management departments, such as maritime affairs, environmental protection, land resources, water conservancy, and other departments. There are differences in the recognition of offshore wind energy development among various departments, and the implementation of management standards and methods by relevant local functional departments is also different. Inconsistencies and overlapping of functions have appeared from time to time, which has caused the work cycle of offshore wind energy projects from the preliminary approval to the subsequent maintenance and operation to be lengthened, which greatly reduces the efficiency of the project.
Region Overview:
From 2022-2027, Asia-Pacific is estimated to witness robust growth prospects.
Company Overview:
Siemens Gamesa is one of the major players operating in the Offshore Wind Energy market, holding a share of 35.74% in 2021.
Siemens Gamesa
Siemens Gamesa supplies wind turbines and power solutions to customers. The company is a global leader in the renewable energy industry specifically in the development, installation, maintenance, and manufacturing of wind turbines. Siemens Gamesa's vision is to be the global leader in the renewable energy industry driving the transition towards a sustainable world. As the worlds only company operating at a global scale across the entire wind spectrum onshore, offshore and services Siemens Gamesa is well positioned to unlock the full potential of wind.
Shanghai Electric
Shanghai Electric Group is a world-class integrated high-end equipment manufacturer, focusing on smart energy, intelligent manufacturing and smart infrastructure, providing industrial-grade green and intelligent system solutions for customers. Shanghai Electric has a global presence in new energy, integrated energy, environmental protection, medical devices and industrial automation sectors.
Segmentation Overview:
As for product types, the 3-5 MW segment held the largest market share in 2021.
Application Overview:
By application, the Shallow Water segment occupied the biggest share from 2017 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Offshore Wind Energy industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Offshore Wind Energy. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Offshore Wind Energy Market Report Include:
Market Size Estimates: Offshore Wind Energy market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Offshore Wind Energy market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Offshore Wind Energy market
Segment Market Analysis: Offshore Wind Energy market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Offshore Wind Energy market situations and prospects in major and top regions and countries
Offshore Wind Energy Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Offshore Wind Energy Industry Chain: Offshore Wind Energy market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Offshore Wind Energy Industry News, Policies by regions
Offshore Wind Energy Industry Porters Five Forces Analysis
Key players in the global Offshore Wind Energy market are covered in Chapter 2:
Goldwind
Ming Yang Wind Power
GE Renewable Energy
Vestas
Siemens Gamesa
Shanghai Electric
Sinovel
Envision Group
XEMC
In Chapter 6 and Chapter 9, on the basis of types, the Offshore Wind Energy market from 2018 to 2028 is primarily split into:
Below 3 MW
3-5 MW
5 MW and Above
In Chapter 7 and Chapter 10, on the basis of applications, the Offshore Wind Energy market from 2018 to 2028 covers:
Shallow Water
Deep Water
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Offshore Wind Energy market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Offshore Wind Energy industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Offshore Wind Energy market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Offshore Wind Energy industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Offshore Wind Energy market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Offshore Wind Energy market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Offshore Wind Energy market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
