GVR Report cover Offshore Wind Market Size, Share & Trends Report

Offshore Wind Market Size, Share & Trends Analysis Report By Component (Turbines, Substructure, Electrical Infrastructure), By Location (Shallow Water, Transitional Water, Deepwater), By Region, And Segment Forecasts, 2023 To 2030

  • Report ID: GVR454799
  • Number of Pages: 0
  • Format: Electronic (PDF)

The growth of offshore wind market can be attributed to the increasing global investments in renewable energy. There has been a noticeable shift in the energy sector towards renewable and green energy owing to factors such as the need to reduce carbon emissions, the depletion of fossil fuels, climate change, and so on. Many multinational companies are taking steps to reduce their carbon footprint in order to contribute to a greener planet and long-term sustainability. For instance, in May 2020, Siemens Gamesa unveiled the SG 14-222 DD wind turbine, which has a nameplate capacity of 14 Megawatt and can reach 15 MW with Power Boost. It has a rotor diameter of 222 meter and huge 108-meter-long B108 blades.

Several government regulations are being enacted to encourage renewable energy programs.Several nations' governments are taking the necessary steps to reduce carbon emissions. pushing the government to invest more money on renewable energy sources such as wind and solar. As a result, the amount of electricity generated by wind energy has increased rapidly in recent years. The government has put in place a number of policies to aid with the transition to greener energy. The demand for renewable energy is expected to rise as technology costs decrease, the need to reduce CO2 emissions grows, and energy consumption in developing and developing countries rises.

Another major driver of the offshore wind market is the increasing demand for electricity.Global electricity consumption surged in 2021, creating strains in major markets, pushing prices to unprecedented highs, and driving emissions from the power sector to new highs.The rapid increase in demand in some major markets outpaced the ability of electricity supply sources to keep up, resulting in volatile prices, demand destruction, and adverse effects on retailers, power generators, and end users, especially in China, Europe, and India.Global energy demand is increasing on a daily basis, resulting in an energy crisis.Energy derived from fossil fuels is unsustainable due to limited, depleting supply and the environmental impact. As a result, there is an increased need for environmentally friendly and sustainable alternative energy sources.

Offshore Wind Market Segmentation

  • By Component

    • Turbines

    • Substructure

    • Electrical Infrastructure

    • Others

  • By Location

    • Shallow Water

    • Transitional Water

    • Deep Water

  • By Region

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • France

      • Italy

      • Spain

      • Denmark

      • Sweden

      • Norway

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

  Key Players

  • General Electric (US)

  • Siemens Gamesa (Spain)

  • Vestas (Denmark) 

  • Goldwind (China)

  • Shanghai Electric Wind Power Equipment Co. (China)

  • ABB (Switzerland)

  • Doosan Heavy Industries and Construction (South Korea)

  • Hitachi (Japan)

  • Nexans (France)

  • DEME (Belgium)

  • Ming Yang Smart Energy Group Co. (China)

  • Envision (China)

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