Offshore Wind Turbine Market Size and Share Report by Water Depth (Shallow Water, Transitional Water, Deep Water ), Installation, Turbine Capacity

Description

The offshore wind turbine market is USD 6,762 million in 2023, which will touch USD 24,603.5 million by 2030, progressing at 21% between 2024 and 2030. This is because of the application of promising policies of the government in numerous countries, huge investments in renewable energy sources, and continuous tech expansions in offshore plants.

The shallow water category is the prime contributor. This is due to the fact that it comprises offshore wind turbines fitted in water depths of up to 30 meters, and installation of wind towers in this depth is considerably easier and also decreases capital spending.

Furthermore, shallow-water regions are perfect for building the foundation for wind towers and provide higher suitability over deep and transitional-water.

Furthermore, the transitional water category has a considerable share. It contains offshore wind turbines that are to be connected in water depths reaching from 30 to 60 meters, their installation type is floating, and the turbine capacity ranges from 3 to 5 MW.

On the basis of installation, the floating category will have a considerable growth in the offshore wind energy market in the future. As the energy requirement increases, key corporations and nations are accepting renewable energy sources, particularly wind energy, as it is clean energy and available in enormous amounts around the clock.

The restraint of fixed basis is restricted to waters below 50 meters deep. This has fortified the growth of floating offshore wind turbine forms.

APAC will grow the fastest in the future, growing at a rate of 21.6% in the years to come.

This is due to the fact that it will have numerous windmill installations on seas, lakes, and oceans, chiefly as a result of the growing government initiatives meant to endorse wind energy; and the growing emphasis on declining the requirement on fossil fuels for the energy generation.

China is leading the industry, with 64.3 GW installed capacity, from 2023. This is by reason of the nation's strong surge in the annual fitting of offshore windmills. For example, Guangdong, Fujian, and Jiangsu planned to achieve a 2 GW, and 3.5 GW offshore wind power capacity, correspondingly, in 2023.

Also, in the country, the first large-scale deep-sea offshore wind power project got underway in 2022 under the POWERCHINA initiative for connecting deepsea energy with the national electricity power grid. This kind of mission need high-power turbines to work smoothly, which has, consequently, endorsed the growth of the industry in the country.

Due to the considerable investments in renewable energy sources all over the globe, the demand for offshore wind turbines is on the rise, and will also continue to grow in the years to come as well.

Product Code: 12067

Chapter 1. Research Scope

1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segments
- 1.4.1. market size breakdown, by water depth
- 1.4.2. market size breakdown, by installation
- 1.4.3. market size breakdown, by turbine capacity
- 1.4.4. Market size breakdown, by region
1.5. Market Data Reporting Unit
- 1.5.1. Value
1.6. Key Stakeholders

Chapter 2. Research Methodology

2.1. Secondary Research
- 2.1.1. Paid
- 2.1.2. Unpaid
- 2.1.3. P&S Intelligence database
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
2.5. Currency Conversion Rates
2.6. Assumptions for the Study
2.7. Notes and Caveats

Chapter 3. Executive Summary

Chapter 4. Market Indicators

Chapter 5. Industry Outlook

5.1. Market Dynamics
- 5.1.1. Trends
- 5.1.2. Drivers
- 5.1.3. Restraints/challenges
- 5.1.4. Impact analysis of drivers/restraints
5.2. Impact of COVID-19
5.3. Porter's Five Forces Analysis
- 5.3.1. Bargaining power of buyers
- 5.3.2. Bargaining power of suppliers
- 5.3.3. Threat of new entrants
- 5.3.4. Intensity of rivalry
- 5.3.5. Threat of substitutes

Chapter 6. Global Market

6.1. Overview
6.2. Market Revenue, by Water Depth (2017-2030)
6.3. Market Revenue, by Installation (2017-2030)
6.4. Market Revenue, by Turbine Capacity (2017-2030)
6.5. Market Revenue, by Region (2017-2030)

Chapter 7. North America Market

7.1. Overview
7.2. Market Revenue, by Water Depth (2017-2030)
7.3. Market Revenue, by Installation (2017-2030)
7.4. Market Revenue, by Turbine Capacity (2017-2030)
7.5. Market Revenue, by Country (2017-2030)

Chapter 8. Europe Market

8.1. Overview
8.2. Market Revenue, by Water Depth (2017-2030)
8.3. Market Revenue, by Installation (2017-2030)
8.4. Market Revenue, by Turbine Capacity (2017-2030)
8.5. Market Revenue, by Country (2017-2030)

Chapter 9. APAC Market

9.1. Overview
9.2. Market Revenue, by Water Depth (2017-2030)
9.3. Market Revenue, by Installation (2017-2030)
9.4. Market Revenue, by Turbine Capacity (2017-2030)
9.5. Market Revenue, by Country (2017-2030)

Chapter 10. LATAM Market

10.1. Overview
10.2. Market Revenue, by Water Depth (2017-2030)
10.3. Market Revenue, by Installation (2017-2030)
10.4. Market Revenue, by Turbine Capacity (2017-2030)
10.5. Market Revenue, by Country (2017-2030)

Chapter 11. MEA Market

11.1. Overview
11.2. Market Revenue, by Water Depth (2017-2030)
11.3. Market Revenue, by Installation (2017-2030)
11.4. Market Revenue, by Turbine Capacity (2017-2030)
11.5. Market Revenue, by Country (2017-2030)

Chapter 12. Competitive Landscape

12.1. List of Market Players and their Offerings
12.2. Competitive Benchmarking of Key Players
12.3. Product Benchmarking of Key Players
12.4. Recent Strategic Developments

Chapter 13. Company Profiles

13.1. Nordex SE
- 13.1.1. Business overview
- 13.1.2. Product and service offerings
- 13.1.3. Key financial summary
13.2. Orsted A/S
- 13.2.1. Business overview
- 13.2.2. Product and service offerings
- 13.2.3. Key financial summary
13.3. General Electric Company
- 13.3.1. Business overview
- 13.3.2. Product and service offerings
- 13.3.3. Key financial summary
13.4. Vestas Wind System A/S
- 13.4.1. Business overview
- 13.4.2. Product and service offerings
- 13.4.3. Key financial summary
13.5. Sinovel Wind Group Co., Ltd.
- 13.5.1. Business overview
- 13.5.2. Product and service offerings
13.6. Mingyang Smart Energy Group Co., Ltd
- 13.6.1. Business overview
- 13.6.2. Product and service offerings
- 13.6.3. Key financial summary
13.7. Xinjiang Goldwind Science Technology Co. Ltd
- 13.7.1. Business overview
- 13.7.2. Product and service offerings
- 13.7.3. Key financial summary
13.8. Siemens Gamesa Renewable Energy, S.A.U.
- 13.8.1. Business overview
- 13.8.2. Product and service offerings
- 13.8.3. Key financial summary
13.9. Envision Energy USA Limited
- 13.9.1. Business overview
- 13.9.2. Product and service offerings
13.10. Nexans S.A.
- 13.10.1. Business overview
- 13.10.2. Product and service offerings
- 13.10.3. Key financial summary
13.11. Ocean Breeze Energy GmbH & Co. KG
- 13.11.1. Business overview
- 13.11.2. Product and service offerings
13.12. E.ON SE
- 13.12.1. Business overview
- 13.12.2. Product and service offerings
- 13.12.3. Key financial summary
13.13. Northland Power Inc
- 13.13.1. Business overview
- 13.13.2. Product and service offerings
- 13.13.3. Key financial summary
13.14. Equinor ASA
- 13.14.1. Business overview
- 13.14.2. Product and service offerings
- 13.14.3. Key financial summary
13.15. Suzlon Energy Ltd.
- 13.15.1. Business overview
- 13.15.2. Product and service offerings
- 13.15.3. Key financial summary

Chapter 14. Appendix

14.1. Abbreviations
14.2. Sources and References
14.3. Related Reports

Offshore Wind Turbine Market Size and Share Report by Water Depth (Shallow Water, Transitional Water, Deep Water ), Installation, Turbine Capacity - Global Industry Demand Forecast to 2030