Product Code: ENE0594
The global Offshore Wind Power market is projected to grow at a CAGR of 8.6% by 2034.
“The Offshore Wind Power Market Report 2024-2034”: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Growing Demand for Cleaner Energy Sources
Many governments around the world have recognised the importance of transitioning to cleaner energy sources to combat climate change and promote energy security. As a result, they are implementing supportive policies, incentives, and regulations to encourage investment in renewable energy projects. Growing awareness of the impacts of climate change has led to increased public and private demand for cleaner energy sources. As people and businesses become more conscious of their carbon footprint, they are seeking alternatives to traditional fossil fuels.
Many large corporations and businesses are adopting sustainability goals, pledging to reduce their carbon emissions and embrace renewable energy. This shift in corporate behaviour is driving investments in renewable energy projects, often through power purchase agreements (PPAs) with renewable energy providers. The renewable energy industry has been a significant driver of job creation and economic growth in various countries. As the industry expands, it continues to create job opportunities in areas such as manufacturing, installation, maintenance, and research and development.
Challenges Associated with Offshore Wind Power Industry
Offshore wind turbines operate in a harsh marine environment, which can lead to technical challenges such as corrosion, biofouling, and exposure to extreme weather conditions. Developing and maintaining technologies that can withstand these conditions is crucial. Installing and maintaining offshore wind turbines is a complex and expensive process. The turbines are often located in deep waters, making installation more challenging and costly. Developing cost-effective and efficient installation and maintenance strategies is crucial for the long-term viability of offshore wind projects. The design of foundations for offshore wind turbines is critical. Different seabed conditions and water depths require various foundation types, such as monopiles, jackets, or floating structures. Ensuring the stability and durability of these foundations is a significant technical challenge. Transporting large wind turbine components to offshore locations and assembling them at sea can be logistically challenging. Specialised vessels are needed for transportation, and efficient logistics planning is crucial to minimise costs and downtime.
What Questions Should You Ask before Buying a Market Research Report?
- How is the offshore wind power market evolving?
- What is driving and restraining the offshore wind power market?
- How will each offshore wind power submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each offshore wind power submarket develops from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading offshore wind power markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the offshore wind power projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of offshore wind power projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the offshore wind power market?
- Where is the offshore wind power market heading and how can you ensure you are at the forefront of the market?
You need to discover how this will impact the offshore wind power market today, and over the next 10 years:
- Our 271-page report provides 92 tables and 136 charts/graphs exclusively to you
- The report highlights key lucrative areas in the industry so you can target them - NOW
- It contains in-depth analysis of global, regional and national sales and growth
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the offshore wind power market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, our new study provides you with recent results, growth rates, and market shares
- You will find original analyses, with business outlooks and developments
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints, and challenges), porters five forces analysis, PEST analysis, and recent developments.
Segments Covered in the Report:
Location Outlook
- Shallow Water
- Transitional Water
- Deep Water
Component Outlook
- Turbines
- Electrical Infrastructure
- Substructure
- Others
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for 15 leading national markets:
Key Country Outlook
- China
- UK
- Germany
- Netherlands
- Denmark
- Belgium
- France
- Vietnam
- Taiwan
- Japan
- Sweden
- South Korea
- Finland
- USA
- Italy
- Rest of the World
The report also includes profiles and for some of the leading companies in the Offshore Wind Power Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies and the potential for market growth:
- ABB
- Doosan Enerbility
- General Electric Company
- Goldwind
- Nexans
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- Nordex SE
- RENOVA, Inc
- Shanghai Electric
- Siemens Gamesa Renewable Energy
- Vestas
|
Overall world revenue for Offshore Wind Power Market, 2024 to 2034 in terms of value the market will surpass US$46 billion in 2023, our work calculates. We predict strong revenue growth through to 2034. Our work identifies which organisations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How will the “Offshore Wind Power Market, 2024 to 2034” Market report help you?
In summary, our 270+ page report provides you with the following knowledge:
- Revenue forecasts to 2034 for Offshore Wind Power Market, 2024 to 2034 Market, with forecasts for location, component, and each forecast at a global, and key country level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for 15 key national markets - See forecasts for the Offshore Wind Power Market, 2024 to 2034 market in China, UK, Germany, Netherlands, Denmark, Belgium, France, Vietnam, Taiwan, Japan, Sweden, South Korea, Finland, USA, Italy, and Rest of the World.
- Prospects for established firms and those seeking to enter the market - including company profiles for 10 of the major companies involved in the Offshore Wind Power Market.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain's study is for everybody needing commercial analyses for the Offshore Wind Power Market, 2024 to 2034, market-leading companies. You will find data, trends and predictions.
Table of Contents
1 Report Overview
- 1.1 Objectives of the Study
- 1.2 Introduction to Offshore Wind Power Market
- 1.3 What This Report Delivers
- 1.4 Why You Should Read This Report
- 1.5 Key Questions Answered by This Analytical Report
- 1.6 Who is This Report for?
- 1.7 Methodology
- 1.7.1 Market Definitions
- 1.7.2 Market Evaluation & Forecasting Methodology
- 1.7.3 Data Validation
- 1.7.3.1 Primary Research
- 1.7.3.2 Secondary Research
- 1.8 Frequently Asked Questions (FAQs)
- 1.9 Associated Visiongain Reports
- 1.10 About Visiongain
2 Executive Summary
3 Market Overview
- 3.1 Key Findings
- 3.2 Market Dynamics
- 3.2.1 Market Driving Factors
- 3.2.1.1 Offshore Wind Power Favourable Policies to Drive the Market
- 3.2.1.2 Advancements in Offshore Wind Turbine Technology
- 3.2.2 Market Restraining Factors
- 3.2.2.1 High Capital Cost Associated With Offshore Wind Power
- 3.2.2.2 Challenges Associated with Offshore Wind Power Industry
- 3.2.3 Market Opportunities
- 3.2.3.1 Government Initiatives To Reduce Carbon Emissions
- 3.2.3.2 Growing Renewable Energy Industry
- 3.3 COVID-19 Impact Analysis
- 3.4 Porter's Five Forces Analysis
- 3.4.1 Bargaining Power of Suppliers
- 3.4.2 Bargaining Power of Buyers
- 3.4.3 Competitive Rivalry
- 3.4.4 Threat from Substitutes
- 3.4.5 Threat of New Entrants
4 Offshore Wind Power Market Analysis by Location
- 4.1 Key Findings
- 4.2 Location Segment: Market Attractiveness Index
- 4.3 Offshore Wind Power Market Size Estimation and Forecast by Location
- 4.4 Shallow Water
- 4.4.1 Market Size by Region, 2024-2034 (US$ Billion)
- 4.4.2 Market Share by Region, 2024 & 2034 (%)
- 4.5 Transitional Water
- 4.5.1 Market Size by Region, 2024-2034 (US$ Billion)
- 4.5.2 Market Share by Region, 2024 & 2034 (%)
- 4.6 Deep Water
- 4.6.1 Market Size by Region, 2024-2034 (US$ Billion)
- 4.6.2 Market Share by Region, 2024 & 2034 (%)
5 Offshore Wind Power Market Analysis by Component
- 5.1 Key Findings
- 5.2 Component Segment: Market Attractiveness Index
- 5.3 Offshore Wind Power Market Size Estimation and Forecast by Component
- 5.4 Turbines
- 5.4.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.4.2 Market Share by Region, 2024 & 2034 (%)
- 5.5 Electrical Infrastructure
- 5.5.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.5.2 Market Share by Region, 2024 & 2034 (%)
- 5.6 Substructure
- 5.6.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.6.2 Market Share by Region, 2024 & 2034 (%)
- 5.7 Other Components
- 5.7.1 Market Size by Region, 2024-2034 (US$ Billion)
- 5.7.2 Market Share by Region, 2024 & 2034 (%)
6 Offshore Wind Power Market Analysis by Region
- 6.1 Key Findings
- 6.2 Regional Market Size Estimation and Forecast
7 China Offshore Wind Power Market Analysis
- 7.1 Key Findings
- 7.2 China Offshore Wind Power Market Size Estimation and Forecast by Location
- 7.3 China Offshore Wind Power Market Size Estimation and Forecast by Component
- 7.4 China Offshore Wind Power Market Analysis
- 7.4.1 Hybrid Floating Wind Project Revealed Offshore China
- 7.4.2 Country on Track to Hit Wind and Solar Targets
- 7.4.3 CEEC's First Offshore Wind Power Project Has Been Approved
8 UK Offshore Wind Power Market Analysis
- 8.1 Key Findings
- 8.2 UK Offshore Wind Power Market Size Estimation and Forecast by Location
- 8.3 UK Offshore Wind Power Market Size Estimation and Forecast by Component
- 8.4 UK Offshore Wind Power Market Analysis
- 8.4.1 World's Largest Offshore Windfarm Project Starts Powering UK Grid
- 8.4.2 UK Offshore Wind Power Industry
9 Germany Offshore Wind Power Market Analysis
- 9.1 Key Findings
- 9.2 Germany Offshore Wind Power Market Size Estimation and Forecast by Location
- 9.3 Germany Offshore Wind Power Market Size Estimation and Forecast by Component
- 9.4 Germany Offshore Wind Power Market Analysis
- 9.4.1 Offshore Wind Energy Development
- 9.4.2 Offshore Expansion Targets Offshore Wind Energy
- 9.4.3 Activities in Offshore Wind Energy Projects
10 Netherlands Offshore Wind Power Market Analysis
- 10.1 Key Findings
- 10.2 Netherlands Offshore Wind Power Market Size Estimation and Forecast by Location
- 10.3 Netherlands Offshore Wind Power Market Size Estimation and Forecast by Component
- 10.4 Netherlands Offshore Wind Power Market Analysis
- 10.4.1 Wind Energy Targets
- 10.4.2 Netherlands Sets 70 GW Offshore Wind Target for 2050
11 Denmark Offshore Wind Power Market Analysis
- 11.1 Key Findings
- 11.2 Denmark Offshore Wind Power Market Size Estimation and Forecast by Location
- 11.3 Denmark Offshore Wind Power Market Size Estimation and Forecast by Component
- 11.4 Denmark Offshore Wind Power Market Analysis
- 11.4.1 Vattenfall Supplies First Power From Denmark's Next Offshore Wind Farm
- 11.4.2 Japan, Denmark to Collaborate on Floating Offshore Wind Technology
12 Belgium Offshore Wind Power Market Analysis
- 12.1 Key Findings
- 12.2 Belgium Offshore Wind Power Market Size Estimation and Forecast by Location
- 12.3 Belgium Offshore Wind Power Market Size Estimation and Forecast by Component
- 12.4 Belgium Offshore Wind Power Market Analysis
- 12.4.1 Belgium Offshore Wind Energy
13 France Offshore Wind Power Market Analysis
- 13.1 Key Findings
- 13.2 France Offshore Wind Power Market Size Estimation and Forecast by Location
- 13.3 France Offshore Wind Power Market Size Estimation and Forecast by Component
- 13.4 France Offshore Wind Power Market Analysis
- 13.4.1 Offshore Wind Power Sector In France
- 13.4.2 ENGIE-EDPR Joint Venture on The Rise
14 Vietnam Offshore Wind Power Market Analysis
- 14.1 Key Findings
- 14.2 Vietnam Offshore Wind Power Market Size Estimation and Forecast by Location
- 14.3 Vietnam Offshore Wind Power Market Size Estimation and Forecast by Component
- 14.4 Vietnam Offshore Wind Power Market Analysis
- 14.4.1 MOU Finalized to Grow Offshore Wind Power in Vietnam
- 14.4.2 Offshore Wind Power and Development Policies in Vietnam
15 Taiwan Offshore Wind Power Market Analysis
- 15.1 Key Findings
- 15.2 Taiwan Offshore Wind Power Market Size Estimation and Forecast by Location
- 15.3 Taiwan Offshore Wind Power Market Size Estimation and Forecast by Component
- 15.4 Taiwan Offshore Wind Power Market Analysis
16 Japan Offshore Wind Power Market Analysis
- 16.1 Key Findings
- 16.2 Japan Offshore Wind Power Market Size Estimation and Forecast by Location
- 16.3 Japan Offshore Wind Power Market Size Estimation and Forecast by Component
- 16.4 Japan Offshore Wind Power Market Analysis
- 16.4.1 Japan Aims to Become Major Offshore Wind Energy Producer
17 Sweden Offshore Wind Power Market Analysis
- 17.1 Key Findings
- 17.2 Sweden Offshore Wind Power Market Size Estimation and Forecast by Location
- 17.3 Sweden Offshore Wind Power Market Size Estimation and Forecast by Component
- 17.4 Sweden Offshore Wind Power Market Analysis
- 17.4.1 Sweden Nixes Vattenfall's Offshore Wind Project
- 17.4.2 Offshore Wind Energy Outlook
18 South Korea Offshore Wind Power Market Analysis
- 18.1 Key Findings
- 18.2 South Korea Offshore Wind Power Market Size Estimation and Forecast by Location
- 18.3 South Korea Offshore Wind Power Market Size Estimation and Forecast by Component
- 18.4 South Korea Offshore Wind Power Market Analysis
- 18.4.1 532 MW South Korean Offshore Wind Project Moves Forward
- 18.4.2 Plans Unveiled for New Multi-Gigawatt Offshore Wind Project in South Korea
19 Finland Offshore Wind Power Market Analysis
- 19.1 Key Findings
- 19.2 Finland Offshore Wind Power Market Size Estimation and Forecast by Location
- 19.3 Finland Offshore Wind Power Market Size Estimation and Forecast by Component
- 19.4 Finland Offshore Wind Power Market Analysis
- 19.4.1 Finland to Tender 6,000 MW of Offshore Wind Power in 2023-2024
20 USA Offshore Wind Power Market Analysis
- 20.1 Key Findings
- 20.2 USA Offshore Wind Power Market Size Estimation and Forecast by Location
- 20.3 USA Offshore Wind Power Market Size Estimation and Forecast by Component
- 20.4 USA Offshore Wind Power Market Analysis
- 20.4.1 Siemens Gamesa Halts Plans for USD 200 Million Offshore Wind Turbine Blade Factory in US
21 Italy Offshore Wind Power Market Analysis
- 21.1 Key Findings
- 21.2 Italy Offshore Wind Power Market Size Estimation and Forecast by Location
- 21.3 Italy Offshore Wind Power Market Size Estimation and Forecast by Component
- 21.4 Italy Offshore Wind Power Market Analysis
- 21.4.1 Developer of Italy's First Offshore Wind Farm
- 21.4.2 Renantis, BlueFloat Target 5.5 GW Offshore Wind in Italy
22 Rest of the World Offshore Wind Power Market Analysis
- 22.1 Key Findings
- 22.2 Rest of the World Offshore Wind Power Market Size Estimation and Forecast by Location
- 22.3 Rest of the World Offshore Wind Power Market Size Estimation and Forecast by Component
- 22.4 Rest of the World Offshore Wind Power Market Analysis
23 Company Profiles
- 23.1 General Electric Company
- 23.1.1 Company Snapshot
- 23.1.2 Company Overview
- 23.1.3 Financial Analysis
- 23.1.3.1 Net Revenue, 2018-2022
- 23.1.3.2 Gross Profit, 2018-2022
- 23.1.3.3 Operating Income, 2018-2022
- 23.1.3.4 Net Income, 2018-2022
- 23.1.3.5 Regional Revenue, 2022
- 23.1.3.6 Segment Revenue, 2022
- 23.1.4 Product Benchmarking
- 23.1.5 Strategic Outlook
- 23.2 Vestas
- 23.2.1 Company Snapshot
- 23.2.2 Company Overview
- 23.2.3 Financial Analysis
- 23.2.3.1 Net Revenue, 2018-2022
- 23.2.3.2 Gross Profit, 2018-2022
- 23.2.3.3 R&D Expense, 2018-2022
- 23.2.4 Product Benchmarking
- 23.2.5 Strategic Outlook
- 23.3 Siemens Gamesa Renewable Energy
- 23.3.1 Company Snapshot
- 23.3.2 Company Overview
- 23.3.3 Product Benchmarking
- 23.3.4 Strategic Outlook
- 23.4 ABB
- 23.4.1 Company Snapshot
- 23.4.2 Company Overview
- 23.4.3 Financial Analysis
- 23.4.3.1 Net Revenue, 2018-2022
- 23.4.3.2 Regional Market Shares, 2022
- 23.4.3.3 Segment Market Shares, 2022
- 23.4.4 Product Benchmarking
- 23.4.5 Strategic Outlook
- 23.5 Goldwind
- 23.5.1 Company Snapshot
- 23.5.2 Company Overview
- 23.5.3 Financial Analysis
- 23.5.3.1 Net Revenue, 2018-2022
- 23.5.3.2 Segment Market Shares, 2022
- 23.5.4 Product Benchmarking
- 23.5.5 Strategic Outlook
- 23.6 Doosan Enerbility
- 23.6.1 Company Snapshot
- 23.6.2 Company Overview
- 23.6.3 Product Benchmarking
- 23.6.4 Strategic Outlook
- 23.7 Nordex SE
- 23.7.1 Company Snapshot
- 23.7.2 Company Overview
- 23.7.3 Financial Analysis
- 23.7.3.1 Net Revenue, 2018-2022
- 23.7.3.2 Regional Market Shares, 2022
- 23.7.3.3 Segment Market Shares, 2022
- 23.7.4 Product Benchmarking
- 23.8 Nexans
- 23.8.1 Company Snapshot
- 23.8.2 Company Overview
- 23.8.3 Financial Analysis
- 23.8.3.1 Net Revenue, 2018-2022
- 23.8.3.2 Regional Market Shares, 2022
- 23.8.3.3 Segment Market Shares, 2022
- 23.8.4 Product Benchmarking
- 23.8.5 Strategic Outlook
- 23.9 Shanghai Electric
- 23.9.1 Company Snapshot
- 23.9.2 Company Overview
- 23.9.3 Financial Analysis
- 23.9.3.1 Net Revenue, 2018-2022
- 23.9.3.2 Segment Market Shares, 2022
- 23.9.4 Product Benchmarking
- 23.9.5 Strategic Outlook
- 23.10 RENOVA, Inc.
- 23.10.1 Company Snapshot
- 23.10.2 Company Overview
- 23.10.3 Product Benchmarking
- 23.10.4 Strategic Outlook
24 Conclusion and Recommendations
- 24.1 Concluding Remarks from Visiongain
- 24.2 Recommendations for Market Players