The offshore wind power market is forecasted to grow by USD 33960 mn during 2023-2028, accelerating at a CAGR of 17.17% during the forecast period. The report on the offshore wind power market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in global energy demand, rising government support, and declining lcoe of wind power generation.
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
14.88%
CAGR
17.17%
Incremental Value
$33960 mn
Technavio's offshore wind power market is segmented as below:
By Type
Monopile
Jacket
Others
By Product Type
Fixed structure
Floating structure
By Geographical Landscape
Europe
APAC
North America
South America
Middle East and Africa
This study identifies the rising popularity of clean energy technologies as one of the prime reasons driving the offshore wind power market growth during the next few years. Also, technological developments in wind power market and rising popularity of floating wind turbines will lead to sizable demand in the market.
The report on the offshore wind power market covers the following areas:
Offshore wind power market sizing
Offshore wind power market forecast
Offshore wind power market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading offshore wind power market vendors that include CAPE Holland BV, China Steel Corp., Dongfang Electric Corp. Ltd., Doosan Corp., Erndtebcker Eisenwerk GmbH and Co KG, General Electric Co., Hyosung Heavy Industries Corp., Hyundai Heavy Industries Co. Ltd., JDR Cable Systems Ltd., Lamprell Plc, Nexans SA, NKT AS, Nordex SE, Prysmian Spa, Senvion Wind Technology Pvt. Ltd., Siemens Gamesa Renewable Energy SA, Sinovel Wind Group Co. Ltd., Verdict Media Ltd., Vestas Wind Systems AS, and Xinjiang Goldwind Science and Technology Co. Ltd.. Also, the offshore wind power market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Market Segmentation by Product Type
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Offshore Wind Power Market 2018 - 2022
Historic Market Size - Data Table on Global Offshore Wind Power Market 2018 - 2022 ($ million)