Offshore Wind Energy Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2019 - 2024

Report Code: EPR 50283 Report Format: PDF + Excel (Delivery in 48 Hrs)
Offshore Wind Energy Market Overview:

According to the International Energy Association (IEA), in 2017, cumulative grid-connected wind capacity was valued to be 515GW from which 497GW was attributed to the onshore wind energy, and 18GW belonged to offshore wind energy[1].  Even though the value of offshore wind energy generation is lower as compared to the former one, the sector is picking up the pace as offshores provide better wind speed and more energy. This is the reason a gamut of vendors is venturing into the offshore wind energy market that had a market size of $24.76 billion as of 2018. Furthermore, with the propitious progress anticipated in the future, the demand for offshore wind energy is estimated to catapult at a substantial compound annual growth rate (CAGR) of 16.5% during the forecast period of 2019 to 2025. 

Offshore wind energy sector in Europe witnessed a record 3,148 MW of newly installed capacity in 2017 with 560 new offshore wind turbines across 17 wind farms, according to Wind Europe. Furthermore, the region has 15,780 MW total installed offshore wind capacity[2]. This expansion of the offshore wind energy market in Europe largely attributes to the government initiatives and its policy framework to promote the same which is also setting an example for other regions to opt for this efficient and sustainable mode of energy. Europe had the largest offshore wind energy market share of 82.84% in 2017.   

Offshore Wind Energy Market Outlook:

Offshore wind energy or offshore wind power is the energy generated in an offshore wind farm or wind power plant located at sheltered coastal areas using vertical axis wind turbine technologies that is controlled by using LiDAR technology. The offshore wind energy market is segmented on the basis of the method of installation of turbine which includes off-grid networks and fully grid-connected. 

Owing to reliability, better performance, and safe technology, the fully grid-connected offshore wind will observe a demand influx in the future, and it is projected to grow with a profitable CAGR of 12.87% through to 2025. 

Offshore Wind Energy Market Growth Drivers: 

  • Falling Cost of Renewable Power Generation – 
According to the International Renewable Energy Agency (IREA), the cost of offshore wind power observed a noticeable decline between 2010 and 2017. The global weighted Levelized cost of electricity (LCOE) of offshore wind projects was gauged to be $0.14/kWh in 2017. However, the cost is projected to fall, and the plants that will be commissioned in 2020 and beyond will observe costs that fall between $0.06/kWh and $0.10/kWh[3].  This is a huge reason that organizations in the energy sector and governments are making massive investments in the offshore wind energy sector. The lower cost and higher power efficiency are proving to be lucrative for the vendors in the offshore wind energy market.

  • The Depletion of Fossil Fuels – 
There is a discernible depletion of fossil fuels such as coal, oil, and gas in the world, and the world is in dire need for finding alternative methods of power generation. The usage of non-conventional power resources such as solar power and wind power will become imperative. While the declination of the conventional resources has a positive impact on the wind power market at large, offshore wind energy market seems to have an advantage in the future over all other sources of energy because of the more power-efficiency and less cost as mentioned above. Moreover, the offshore wind sector has widened the scope of renewable energy. 

  • The Scarcity of Land for Onshore Wind Energy – 
The growth of the offshore wind energy market is also attributed to the fact that the land is scarce for onshore wind energy in many countries due to the competing site usage by many vendors. Offshore wind farms are found to have a low impact on the environment which is one of the major reasons governments are supporting the incorporation of offshore wind energy farms across the globe. Furthermore, some parts of Europe witness public opposition to onshore wind energy plants which is leading to more opportunities in the offshore wind energy market. 

Offshore Wind Energy Market Trends – 

  • Investments in the Floating Wind Turbines – 
Some countries have deeper sea coasts, and it’s becoming difficult to install wind turbines on the seabed. Subsequently, there is a lot of investment in R&D and manufacturing of floating wind turbines. This technology will provide offshore wind energy access to many countries. 
  • The Innovation of Kites – 
Kites are envisioned to harvest stronger winds at high altitudes, and there will be a subsequent better power-efficiency that will be observed. Considering that they are difficult to install on lands because of air-traffic, this innovation will add value to the offshore wind energy market. 
  • Emerging Economies Venturing Into the Offshore Wind Energy Market – 
The sector is gaining prominence with economies such as China already invested in 18 offshore wind farms for power generation. The future foresees more countries relying on offshore wind energy. 

Offshore Wind Energy Market Challenges – 

The major challenge in front of the offshore wind energy market is the impact of offshore wind energy farms on the landscape. These farms are installed in shallow waters and are near the coast which is bringing a lot of resistance. However, with technology advancements, the future will observe the wind farms moving farther from the coast. Moreover, these farms are found to impact sea life, and during the construction phase, they can be harmful to sea mammals. This is overcome by installing bubble screens that also reduce the noise. 



Offshore Wind Energy Market Key Players Perspective – 

The major players crusading for the offshore wind energy market share are Senvion, Adwen, Siemens Gamesa, MHI Vestas Offshore Wind, Winwind, Sinovel, G.E, Doosan Heavy Industries, Ming Yang Smart Energy, Eew Group, A2 SEA, ABB, and Nexans. 

Offshore Wind Energy Market Research Scope: 

The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the offshore wind energy market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. 

Offshore wind Energy Market Report: Industry Coverage 
The offshore wind energy market report also analyzes the major geographic regions as well as the major countries in these regions. The regions and countries covered in the study include:

  • North America: The U.S., Canada, Mexico
  • South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
  • Europe: The U.K., Germany, Italy, France, the Netherlands, Belgium, Spain, Denmark
  • APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
  • Middle East and Africa: Israel, South Africa, Saudi Arabia

Key Questions Addressed in the offshore wind Energy Market Report

Is the market demand for offshore wind energy growing? How long will it continue to grow and at what rate? 
Which type of home security system presents the major growth opportunities? 
Is there a possibility for change in the market structure over time? 
Are additional developments needed for the existing product or services offerings or do the existing products meet the customer demands? 
Do the key vendors look for partnerships to expand their businesses with respect to geography or product? 
What are the short-term, long-term, and medium-term growth drivers for the market? 
What are the short-term, medium-term, and long-term challenges for the market? 
What are the short-term, medium-term, and long-term opportunities for the market 
Who are the top players/companies of the market? 
What are the recent innovations in the market? 
How many patents have been filed by the leading players? 
What are the types of patents filed by the leading players? 
What is our Vision 2030 for the offshore wind energy market?

A Few Focus Points Of This Research Are Given Below:

  • Give a deep-dive analysis of the key operational strategies with focus on the corporate structure, R&D strategies, localization strategies, production capabilities, and sales performance of various companies
  • Provide an overview of the product portfolio, including product planning, development, and positioning
  • Discuss the role of technology companies in partnerships
  • Explore the regional sales activities
  • Analyze the market size and giving the forecast for current and future global offshore wind energy market during the forecast 2019–2025
  • Analyze the competitive factors, competitors’ market shares, product capabilities, and supply chain structures

Reference:

[1]https://www.iea.org/topics/renewables/wind/
[2]https://windeurope.org/wp-content/uploads/files/about-wind/statistics/WindEurope-Annual-Offshore-Statistics-2017.pdf
[3]https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2018/Jan/IRENA_2017_Power_Costs_2018.pdf
1. Offshore Wind Energy Market - Overview
        1.1 Definitions and Scope
2. Offshore Wind Energy Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Offshore Wind Energy Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Offshore Wind Energy Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Offshore Wind Energy Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Offshore Wind Energy Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Offshore Wind Energy Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Offshore Wind Energy Market - By Product (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
9. Offshore Wind Energy Market - By Type (Market Size -$Million / $Billion)
10. Offshore Wind Energy - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. Offshore Wind Energy- By Geography (Market Size -$Million / $Billion)
        11.1 Offshore Wind Energy Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Offshore Wind Energy- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Offshore Wind Energy- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Offshore Wind Energy - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Offshore Wind Energy - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Offshore Wind Energy Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Offshore Wind Energy Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Offshore Wind Energy Market - Key Company List by Country Premium
15. Offshore Wind Energy Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 China Ming Yang Wind Power Group Limited
        15.3 Dong Energy A/S
        15.4 Gamesa Corporacion Technologica Sa
        15.5 Ge Wind Energy
        15.6 Goldwin Science And Technology Co Ltd
        15.7 Nordex Se
        15.8 Siemens Wind Power
        15.9 Sinovel Wind Group Co Ltd
        15.10 Suzlon Group
        15.11 Vesta Wind System A/S
        15.12 Company 11
        15.13 Company 12 & More
*Financials would be provided on a best efforts basis for private companies
16. Offshore Wind Energy Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Offshore Wind Energy Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

List of Tables

1 US Offshore Wind Energy Market Size 2018
2 Canada Offshore Wind Energy Market Share 2018
3 Brazil Offshore Wind Energy Market Outlook 2019 - 2023
4 Mexico Offshore Wind Energy Market Research 2018
5 Germany Offshore Wind Energy Market Trends 2019 - 2023 
6 France Offshore Wind Energy Market Growth 2019 - 2023 
7 UK Offshore Wind Energy Market Demand 2019 - 2023 
8 Italy Offshore Wind Energy Market Segmentation 2018
9 Russia Offshore Wind Energy Market Analysis 2019 - 2023
10 China Offshore Wind Energy Market Revenue 2019 - 2023
11 Japan Offshore Wind Energy Market Volume 2019 - 2023
12 South Korea Offshore Wind Energy Market Potential 2019 - 2023
13 India Offshore Wind Energy Market Leaders 2018
14 Saudi Arabia Offshore Wind Energy Market Forecast 2019 - 2023 
15 Kuwait Offshore Wind Energy Market Value 2018

List of Figures

For complete list of 60+ tables and 60+ figures follow the Link