Offshore Wind Energy Market Report, by Foundation (Floating and Bottom Founded), by Component (Turbine, Substructure, and Others), by Location (Shallow Water, Transitional Water, and Deep Water) and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019-2027

  • Report code : CMI141417 |
  • Industry :

    Energy

  • Published On : Mar 2019 |
  • Pages : 121 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

­­­Global Offshore Wind Energy Market - Insights

Offshore wind energy is the technology used to generate electricity by wind using wind turbines constructed near the coastline of oceans and lakes. Offshore wind energy offers various advantages such as generation of energy from renewable sources. The energy is generated at higher speed on offshore as compared to onshore, which positively impacts the market growth.

The offshore wind energy market is driven by increasing demand for renewable sources in power generation. Increasing energy consumption and rise in environmental concerns regarding depletion of natural resources are major factors increasing demand for renewable sources in power generation. For instance, according to the Electronic Industries Alliance (EIA) organization, the total world energy consumption is expected to increase from 575 quadrillion British thermal units (Btu) in 2015, to 736 quadrillion Btu in 2040, which is an increase of 28%. Therefore, increasing energy consumption is propelling demand for renewable sources in power generation, in turn positively influencing growth of the offshore wind energy market.

Furthermore, according to the Department for Business, Energy & Industrial Strategy, electricity generated in Q1 of 2018, in the U.K. had a share of 30.1% of renewables, which was around 27% in Q1 2017. In Q1 2018, around 53.2% increase was observed in offshore wind electricity generation. Thus, increasing offshore wind energy generation is expected to fuel the market growth in the near future.    

Figure 1.  Global Offshore Wind Energy Market Share (%), By Component, 2018

Source: Coherent Market Insights, 2018-19

North America is expected to witness lucrative market growth over the forecast period in the global offshore wind energy market. The growth is attributed to increasing demand for wind energy and rising investment in the wind energy sector in North America. The U.S. and Canada are major contributing economies in the wind energy sector. According to the U.S Department of Energy, around US$ 50 billion would be saved from the global damage of greenhouse gases by introducing offshore wind projects in the U.S.

Furthermore, the high presence of key players in North America is driving growth of the offshore wind energy market in this region. For instance, the turbine manufacturers such as Bergey Wind Power and Kelso Energy LTD is focused on updating its turbines with advanced technologies such as onboard sensors and advanced rotor with features of injection and compression moulding.

Asia Pacific is expected to hold the significant market share over the projected period in the market. In addition to this, the region pegged for 2.12 GW in 2018 during the projected period in the global offshore wind turbine market.

 Figure 2.  Global Offshore Wind Energy Market Share (%), By Region, 2018

Source: Coherent Market Insights, 2018-19

Major players in the market are focusing on adopting key strategies such as partnerships & collaborations in the global offshore wind energy market. For instance, 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.

Key players operating in the global offshore wind energy market include MHI Vestas Offshore Wind, Siemens Gamesa Renewable Energy, S.A., J.J Cole Collections, Sinovel Wind Group Co., Ltd, Erndtebrücker Eisenwerk Gmbh & Co. Kg, Northland Power Inc., ABB Ltd., Ming Yang Smart Energy Group Limited, Adwen GmBH, General Electric Company, A2SEA A/S, Nexans, and others.

Offshore wind energy is the technology used to generate electricity by wind using wind turbines constructed near the coastline of oceans and lakes. Offshore wind energy offers various advantages such as generation of energy from renewable sources. The energy is generated at higher speeds on offshore than on onshore, which positively impacts the market growth.

Market Dynamics

Increasing demand for renewable sources in power generation is the underlying factor driving the global offshore wind energy market growth. This is due to the stringent government regulations and policies regarding fossil fuel use, as it leads to high carbon emissions. Globally, energy related carbon dioxide emissions are expected to increase to 45 billion metric tons by 2040, according to U.S Energy Information Administration (EIA), 2013. Therefore, rising concerns about greenhouse gases is leading to high demand for renewable sources of energy, which in turn is expected to drive growth of the offshore wind market.

Key players and organizations in the market are focusing on technological advancements to increase wind energy generation and reduce production cost. According to the study by GrouPrognos AG and The Fichtner Group, the offshore technology contains significant cost reduction potential with the help of technical innovation and networking of players (partnership). For instance, in 2016, ABB Ltd. announced a strategic partnership with Aibel to deliver state-of-the-art offshore wind integration solutions. ABB is focused on delivering core high voltage direct current technology. Whereas, Aibel will take up the turnkey Engineering, procurement, and construction responsibility for offshore platforms.

Key features of the study:

  • This report provides in-depth analysis of offshore wind energy market and provides market size in capacity (Gigawatts) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global Offshore Wind Energy market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans
  • Key companies covered as a part of this study include MHI Vestas Offshore Wind, Siemens Gamesa Renewable Energy, S.A., J.J Cole Collections, Sinovel Wind Group Co., Ltd, Erndtebrücker Eisenwerk Gmbh & Co. Kg, Northland Power Inc., ABB Ltd., Ming Yang Smart Energy Group Limited, Adwen GmBH, General Electric Company, A2SEA A/S, Nexans and others
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion and marketing tactics
  • The global offshore wind energy market report caters to various stakeholders in this industry including investors, suppliers, offshore wind energy manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the offshore wind energy market

Detailed Segmentation:

  • Global Offshore Wind Energy Market, By Foundation:
    • Floating
    • Bottom Founded
  • Global Offshore Wind Energy Market, By Component:
    • Turbine
    • Substructure
    • Others
  • Global Offshore Wind Energy Market, By Location:
    • Shallow Water
    • Transitional Water
    • Deep Water
  • Global Offshore Wind Energy Market, By Region:
    • North America
      • U.S.
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Canada
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
    • Europe
      • U.K.
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Germany
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Italy
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • France
        • By Foundation:
          • Floating
          • Bottom Founded
        • By End-use Type:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Russia
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Rest of Europe
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
    • Asia Pacific
      • China
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • India
        • By Foundation:
          • Floating
          • Bottom Founded
          •  
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Japan
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • ASEAN
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Australia
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • South Korea
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Rest of Asia Pacific
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
    • Latin America
      • Brazil
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Mexico
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Rest of Latin America
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
    • Middle East
      • GCC
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Israel
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Rest of Middle East
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
    • Africa
      • Northern Africa
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • Central Africa
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
      • South Africa
        • By Foundation:
          • Floating
          • Bottom Founded
        • By Component:
          • Turbine
          • Substructure
          • Others
        • By Location:
          • Shallow Water
          • Transitional Water
          • Deep Water
  • Company Profiles
    • MHI Vestas Offshore Wind*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Siemens Gamesa Renewable Energy, S.A.
    • J.J Cole Collections.
    • Sinovel Wind Group Co., Ltd
    • Erndtebrücker Eisenwerk Gmbh & Co. Kg
    • Northland Power Inc.
    • ABB Ltd.
    • Ming Yang Smart Energy Group Limited
    • Adwen GmBH
    • General Electric Company
    • A2SEA A/S
    • Nexans

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet By Foundation
      • Market Snippet By Component
      • Market Snippet By Location
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. Global Offshore Wind Energy Market, By Foundation, 2019 – 2027(GW)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Floating
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (GW)
    • Bottom Founded
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (GW)
  5. Global Offshore Wind Energy Market, By Component, 2019 – 2027(GW)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Turbine
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (GW)
    • Substructure
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (GW)
    • Others (Electric components, etc.)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (GW)
  6. Global Offshore Wind Energy Market, By Location, 2019 – 2027(GW)
    • Introduction
      • Market Share Analysis, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019 - 2027
      • Segment Trends
    • Shallow Water
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (GW)
    • Transitional Water
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (GW)
    • Deep Water
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 - 2027, (GW)
  7. Global Offshore Wind Energy Market, By Region, 2019 – 2027(GW)
    • Introduction
      • Market Share Analysis, By Region, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2019 - 2027
    • North America
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
    • Europe
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • France
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Rest of Europe
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
    • Asia Pacific
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • India
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Australia
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • South Korea
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Rest of Asia Pacific
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
    • Latin America
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
        • Rest of Latin America
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
          • Market Size and Forecast, By Location, 2019-2027(GW)
    • Middle East
      • Market Share Analysis, By Country, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2019 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
        • Israel
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
        • Rest of Middle East
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
    • Africa
      • Market Share Analysis, By Sub-region, 2018 and 2027 (%)
      • Y-o-Y Growth Analysis, By Sub-region, 2019 - 2027
        • Northern Africa
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
        • Central Africa
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Foundation, 2019-2027(GW)
          • Market Size and Forecast, By Component, 2019-2027(GW)
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • MHI Vestas Offshore Wind
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Siemens Gamesa Renewable Energy, S.A.
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • J.J Cole Collections
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Sinovel Wind Group Co., Ltd 
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Erndtebrücker Eisenwerk Gmbh & Co. Kg
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Northland Power Inc.
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Ming Yang Smart Energy Group Limited
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Adwen GmBH
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • General Electric Company
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • A2SEA A/S
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Nexans
        • Company Overview
        • Bidet Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 23 market data tables* and 18 figures* on "Offshore Wind Energy Market” - Global forecast to 2027.

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