Offshore Wind Energy Market Size, Share & Trends Analysis Forecast 2020-2026

Industry Insights

[174+ Pages Report] According to the report published by Facts Factors, the global Offshore wind energy market size was worth around 36.07 billion in 2019 and is predicted to grow to around USD 87.5 billion by 2026 with a compound annual growth rate (CAGR) of roughly 13.5% between 2020 and 2026. The report analyzes the global Offshore wind energy market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Offshore wind energy market.

This specialized and expertise oriented industry research report scrutinizes the technical and commercial business outlook of the Offshore wind energy industry. The report analyzes and declares the historical and current trends analysis of the offshore wind energy industry and subsequently recommends the projected trends anticipated to be observed in the offshore wind energy market during the upcoming years.

The offshore wind energy market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire offshore wind energy market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.

Key Insights from Primary Research

• Extensive interviews with CXO’s of the major companies operating in the global offshore wind energy market, the primary research concludes that the global offshore wind energy market to witness a substantial growth of nearly 13.5% over the forecast period.
• In the year 2019, the market was valued at approximately USD 36 Billion, in 2019 and is expected to be valued over USD 87.5 Billion by 2026.
• On the basis of the component segment, electric infrastructure is expected to exhibit highest growth rate during the forecast period. Major factors responsible for market growth of electric infrastructure is the growth of land-based electricity transmission infrastructure.
• The shallow water installation is expected to register highest growth among the location. The shallow water installation is expected to continue its dominating trend throughout the forecast period.
• Europe region is expected to be the largest revenue generating region for offshore wind energy over the forecast period. The Asia Pacific region market is expected to exhibit highest growth in the global offshore wind energy market.

Key Recommendations from Analysts

• Our analysts recommend for increased focus towards the Asia Pacific  region as it has is expected to have higher installation in near future. The presence of strong economies in coastal areas provides immense potential of growth in the region.
• The strategic developments such as regional expansion and product innovations by the major companies is likely to boom the global offshore wind energy sale over the up-coming years.
• Our analysts recommend that the Asia Pacific region is predicted to witness a significant growth attributed to the growing demand for offshore wind energy from China, Japan and South Korea.
• Rising economic conditions, expanding industrial base and government favourable policies in the Asia Pacific region are anticipated to fuel the offshore wind energy market growth over the foreseeable future.
• The North America and the European region are expected to remain significant source of revenue during the studied period. Regional dominance in these regions are expected to provide additional capital capabilities for expansion beyond the borders.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the offshore wind energy industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the offshore wind energy industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the offshore wind energy market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the offshore wind energy industry. The offshore wind energy market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the offshore wind energy sector. Key strategic developments in the Offshore wind energy market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the offshore wind energy market are appropriately highlighted in the report.

The market is expected to grow at significant rate over the forecast period owing to increased demand for renewable energy resources. The benefits associated with the installation of offshore wind energy platforms includes limited land usage, reduced human intervention and low maintenance.

Furthermore, the governments across the world has positive inclination towards optimum use of renewable energy resources in wake of changing climatic conditions have benefitted to the growth of offshore wind energy market.

The offshore wind energy market research report delivers an acute valuation and taxonomy of the offshore wind energy industry by practically splitting the market based on component, location and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

Report Scope

The regional segmentation of the offshore wind energy industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the offshore wind energy industry is provided for the leading economies of the world.

The offshore wind energy market is segmented based on component, location and region. On the basis of component segmentation, the market is classified into turbine, substructure, electrical infrastructure and others. On the basis of location, the market is bifurcated into shallow water, transitional water and deep water.

Some of the leading players in the global market include

• Nexans
• ABB Ltd.
• Siemens AG
• General Electric
• MHI Vestas
• EEW Group
• A2Sea.

The taxonomy of the offshore wind energy industry by its scope and segmentation is as follows:

By Component Segmentation Analysis

• Turbine
• Substructure
• Electrical Infrastructure
• Others

By Location Segmentation Analysis

• Shallow Water
• Transitional Water
• Deep Water

By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa