Home / Energy / Offshore Wind Energy Market By Foundation Type (Monopile, Jacket, Tripod, Floating), Water Depth (Shallow Water (Up to 29m deep), Transitional Water (30-60m deep), Deep Water (Above 60m deep)) - Growth, Future Prospects & Competitive Analysis, 2017 – 2025

Offshore Wind Energy Market By Foundation Type (Monopile, Jacket, Tripod, Floating), Water Depth (Shallow Water (Up to 29m deep), Transitional Water (30-60m deep), Deep Water (Above 60m deep)) - Growth, Future Prospects & Competitive Analysis, 2017 – 2025

Published: Dec 2017 | Report Code: 58915-12-17

One of the major advantage of locating wind turbines offshore is that wind speeds are much stronger and uniform off the coast as compared to the wind speeds onshore. The maximum demand for electricity occurs during Afternoon time of the day and the sea breeze is also high at that period of time. Hence the offshore wind installations are more efficient and consistent energy producers as compared to their onshore counterparts. Most of the wind turbines are in shallow waters (water depth up to 29m) so that they can be directly connected to the distribution grid. Therefore, eliminates the need for long transmission lines.

The offshore wind energy market is segmented geographically in Europe, Asia Pacific, North America and Rest of the World. In 2016, Europe was the market leader in offshore wind market. More than 87% of all offshore wind installations are located in the European waters. Some of the major countries in Europe are Denmark, Germany, U.K., and Sweden that has highest number of offshore wind installations. Other countries apart from Europe are U.S., China, Japan and South Korea, has the remaining offshore wind installations. As of 2016, offshore wind installation in rest of the world was nil. However, the prospects were from the African and Middle Eastern countries (Nigeria, Ghana, UAE) which are expected to see new installations coming up.

Offshore wind installations are much expensive than their onshore counterpart. There is high amount of risk and safety concerns involved while setting up offshore wind farm. Since the operation of offshore wind turbines are at comparatively higher speeds, the repair and maintenance operations are high time consuming and even higher capital cost incurring. With almost zero emissions and nil effect on real estate (land), more financers, governmental agencies are opting for inviting bidders for offshore wind energy development.

Regions with high density of offshore wind farms are now setting up turbines in deeper waters due to high demand of large turbines which can eventually reduce the number of wind turbines in a particular wind farm. Offshore wind projects with higher capacities are now being installed in European regions. Wind farms installation are now being targeted for transient waters (30-60m deep) and deep waters (60m and above deep). Wind turbine technology is matured and it has investors’ confidence in setting up of wind farms at strategic locations. Thus the introduction and deployment of new generation 6-8MW turbines and even 9MW turbine with very high swept area and extremely high output has made this market to flourish exceptionally during the forecast period.

In the late 2016, Europe that has world’s more than 85% of offshore wind installations had drastically reduced offshore wind prices. Some of the major wind farms in Spain, Denmark and the U.K. witnessed generation cost reduction. The price of per MWh (Mega Watt Hour) generation was close to €65. This reduced to €58 in Spain and €49 in Denmark. This pricing is even lesser than onshore wind generation in some regions. Similar trend is expected to motivate future offshore wind installations and thus low generation cost will further fuel the growth of offshore wind energy market.

The key players present in this market are: Siemens-Gamesa, MHI Vestas Wind Systems A/S, DONG Energy, VattenFall, E.on, GE Wind, Sinovel Wind Group Co. Ltd., Nordex S.E, China Ming Yang Wind Power Group Ltd, Alstom, Senvion Ltd., Clipper Wind power, and DOOSAN Heavy Industry & Construction.

Offshore Wind Energy Market

 

Offshore Wind Energy Market

Chapter 1. Preface
1.1. Report Scope and Description
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Top Down & Bottom Up Approach
1.3.3.1 Top-Down Approach
1.3.3.2 Bottom-Up Approach
1.3.4. Phase III – Expert Panel Review
1.3.5. Assumptions
1.4. Global Offshore Wind Energy Market: Market Segmentation

Chapter 2. Executive Summary
2.1. Market Snapshot: Global Offshore Wind Energy
2.1.1. Global Offshore Wind Energy Market Volume (MW) and Value (US$ Bn), By Foundation Type, 2016
2.1.2. Global Offshore Wind Energy Market Volume (MW) and Value (US$ Bn), by Water Depth, 2016
2.1.3. Global Offshore Wind Energy Market Volume (MW) and Value (US$ Bn), by Geography, 2016
2.1.4. Offshore Wind Energy Generation Cost Reduction
2.1.4.1. Installation Cost Reduction
2.1.4.2. Electricity Generation Cost Reduction

Chapter 3. Offshore Wind Energy Market: Market Dynamics and Future Outlook
3.1. Market Overview
3.2. Drivers
3.2.1. High Advantages of Offshore Wind Power Generation Over Onshore
3.3. Challenges
3.3.1. High CAPEX in Setting-up of New Wind Farms
3.4. Opportunities
3.4.1. New Offshore Projects in Europe and Asia Pacific Regions to Boost Overall Cumulative Capacity Addition
3.5. Attractive Investment Proposition, by Geography, 2016
3.6. Competitive Analysis: Market Positioning of Key Market Players, 2016

Chapter 4. Global Offshore Wind Energy Market, by Foundation Type, 2015 – 2025 (MW, US$ Bn)
4.1. Overview
4.1.1. Global Offshore Wind Energy Value Share, by Foundation Type, 2016 & 2025 (Value, %)
4.2. Monopile
4.3. Jacket
4.4. Tripod
4.5. Floating

Chapter 5. Global Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
5.1. Overview
5.1.1. Global Offshore Wind Energy Value Share, by Water Depth, 2016 & 2025 (Value, %)
5.2. Shallow Water (Up to 29m deep)
5.3. Transient Water (30-60m deep)
5.4. Deep Water (Above 60m deep)

Chapter 6. Global Offshore Wind Energy Market, by Geography, 2015 – 2025 (MW, US$ Bn)
6.1. Overview
6.1.1. Global Offshore Wind Energy Market Share Analysis, by Geography, 2016 vs. 2025 (Value, %)
6.1.2. Global Offshore Wind Energy Market, by Country, 2015-2025 (US$ Bn)
6.2. North America Offshore Wind Energy Market Analysis, 2015 – 2025
6.2.1. North America Offshore Wind Energy Market, By Foundation Type, 2015 – 2025 (MW, US$ Bn)
6.2.2. North America Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
6.2.3. North America Offshore Wind Energy Market, by Country, 2015 – 2025 (MW, US$ Bn)
6.2.3.1. U.S.
6.2.3.2. Canada
6.3. Europe Offshore Wind Energy Market Analysis, 2015 – 2025
6.3.1. Europe Offshore Wind Energy Market, By Foundation Type, 2015 – 2025 (MW, US$ Bn)
6.3.2. Europe Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
6.3.3. Europe Offshore Wind Energy Market, by Country, 2015 – 2025 (MW, US$ Bn)
6.3.3.1. Germany
6.3.3.2. U.K.
6.3.3.3. Denmark
6.3.3.4. Belgium
6.3.3.5. Netherlands
6.3.3.6. Sweden
6.3.3.7. Rest of Europe
6.4. Asia Pacific Offshore Wind Energy Market Analysis, 2015 – 2025
6.4.1. Asia Pacific Offshore Wind Energy Market, By Foundation Type, 2015 – 2025 (MW, US$ Bn)
6.4.2. Asia Pacific Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
6.4.3. Asia Pacific Offshore Wind Energy Market, by Country, 2015 – 2025 (MW, US$ Bn)
6.4.3.1. China
6.4.3.2. Japan
6.4.3.3. South Korea
6.4.3.4. Rest of APAC
6.5. Rest of the World Offshore Wind Energy Market Analysis, 2015 – 2025
6.5.1. RoW Offshore Wind Energy Market, By Foundation Type, 2015 – 2025 (MW, US$ Bn)
6.5.2. RoW Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)

Chapter 7. Company Profiles
7.1. Siemens-Gamesa
7.1.1. Business Description
7.1.2. Financial Information (Subject to data availability)
7.1.3. Product Portfolio
7.1.4. Key Developments
7.2. MHI-Vestas
7.3. DONG Energy.
7.4. Vattenfall
7.5. E.on
7.6. GE Wind
7.7. Sinovel Wind Group Co. Ltd.
7.8. Nordex S.E
7.9. China Ming Yang Wind Power Group Ltd.
7.10. Alstom
7.11. Senvion Ltd.
7.12. Clipper Wind Power
7.13. DOOSAN Heavy Industry & Construction
7.14. National Liner LLC

Note: The list of company profiles included in this ToC is tentative. Profiles of specific players, if required, shall be added to the report upon request

List of Tables :

TABLE 1 Global Offshore Wind Energy Market, Market Snapshot (2016)
TABLE 2 Global Offshore Wind Energy Market, by Repair Technologies, 2015 – 2025 (MW, US$ Bn)
TABLE 3 Global Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
TABLE 4 Global Offshore Wind Energy Market, by Region, 2015 – 2025 (MW, US$ Bn)
TABLE 5 North America Offshore Wind Energy Market, by Foundation Type, 2015 – 2025 (MW, US$ Bn)
TABLE 6 North America Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
TABLE 7 North America Offshore Wind Energy Market, by Country, 2015 – 2025 (MW, US$ Bn)
TABLE 8 Europe Offshore Wind Energy Market, by Foundation Type, 2015 – 2025 (MW, US$ Bn)
TABLE 9 Europe Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
TABLE 10 Europe Offshore Wind Energy Market, by Country, 2015 – 2025 (MW, US$ Bn)
TABLE 11 Asia Pacific Offshore Wind Energy Market, by Foundation Type, 2015 – 2025 (MW, US$ Bn)
TABLE 12 Asia Pacific Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
TABLE 13 Asia Pacific Offshore Wind Energy Market, by Country, 2015 – 2025 (MW, US$ Bn)
TABLE 14 RoW Offshore Wind Energy Market, by Foundation Type, 2015 – 2025 (MW, US$ Bn)
TABLE 15 RoW Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
TABLE 16 RoW Offshore Wind Energy Market, by Country, 2015 – 2025 (MW, US$ Bn)
TABLE 17 Middle East and Africa Offshore Wind Energy Market, by Foundation Type, 2015 – 2025 (MW, US$ Bn)
TABLE 18 Middle East and Africa Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
TABLE 19 Middle East and Africa Offshore Wind Energy Market, by Region, 2015 – 2025 (MW, US$ Bn)
TABLE 20 Siemens-Gamesa: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 21 MHI-Vestas: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 22 DONG Energy: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 23 Vattenfall: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 24 E.on: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 25 GE Wind: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 26 Sinovel Wind Group Co. Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 27Nordex S.E: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 28 China Ming Yang Wind Power Ltd..: (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 29 Alstom: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 30 Senvion Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 31 Clipper Wind Power Ltd.: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 32 DOOSAN Heavy Industry & Construction.: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)
TABLE 33 National Liner LLC.: Company Snapshot (Business Description; Financial Information; Product Portfolio; News Coverage)

List of Figures :

FIG. 1 Offshore Wind Energy: Market Segmentation
FIG. 2 Global Offshore Wind Energy Market Volume (MW) and Value (US$ Bn), by Foundation Type, 2016
FIG. 3 Global Offshore Wind Energy Market Volume (MW) and Value (US$ Bn), by Water Depth, 2016
FIG. 4 Global Offshore Wind Energy Market Volume (MW) and Value (US$ Bn), by Geography, 2016
FIG. 5 Attractive Investment Proposition, by Geography, 2016
FIG. 6 Global Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 7 Global Offshore Wind Energy, by Jacket Market, 2015 – 2025 (MW, US$ Bn)
FIG. 8 Global Offshore Wind Energy, by Tripod Market, 2015 – 2025 (MW, US$ Bn)
FIG. 9 Global Offshore Wind Energy, by Floating Market, 2015 – 2025 (MW, US$ Bn)
FIG. 10 Global Offshore Wind Energy Market, by Water Depth, 2015 – 2025 (MW, US$ Bn)
FIG. 11 Global Offshore Wind Energy Shallow Water (Up to 29m deep) Market, 2015 – 2025 (MW, US$ Bn)
FIG. 12 Global Offshore Wind Energy Transient Water (30-60m deep) Market, 2015 – 2025 (MW, US$ Bn)
FIG. 13 Global Offshore Wind Energy Deep Water (Above 60m deep) Market, 2015 – 2025 (MW, US$ Bn)
FIG. 14 North America Offshore Wind Energy by Water Depth Market, 2015 – 2025 (MW, US$ Bn)
FIG. 15 North America Offshore Wind Energy by Repair Technologies Market, 2015 – 2025 (MW, US$ Bn)
FIG. 16 U.S. Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 17 Canada Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 18 Europe Offshore Wind Energy by Repair Technologies Market, 2015 – 2025 (MW, US$ Bn)
FIG. 19 Europe Offshore Wind Energy by Water Depth Market, 2015 – 2025 (MW, US$ Bn)
FIG. 20 Germany Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 21 U.K. Countries Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 22 Denmark Countries Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 23 Belgium Countries Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 24 Netherlands Countries Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 25 Rest of Europe Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 26 Asia Pacific Offshore Wind Energy by Repair Technologies Market, 2015 – 2025 (MW, US$ Bn)
FIG. 27 Asia Pacific Offshore Wind Energy by Water Depth Market, 2015 – 2025 (MW, US$ Bn)
FIG. 28 China Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 29 Japan Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 30 South Korea Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 31 Rest of Asia Pacific Offshore Wind Energy Market, 2015 – 2025 (MW, US$ Bn)
FIG. 32 RoW Offshore Wind Energy by Foundation Type Market, 2015 – 2025 (MW, US$ Bn)
FIG. 33 RoW Offshore Wind Energy by Water Depth Market, 2015 – 2025 (MW, US$ Bn)

On the basis of foundation, the global offshore wind energy market is categorized into following foundation types:

  • Monopile
  • Jacket
  • Tripod
  • Floating

Offshore Wind Energy Market

In monopile design, the wind tower is made up of steel pipes. Support to the structure is mainly provided by a transition piece. The monopile support structure is a relatively simple design in which the tower is supported by a monopile. One of the major advantages is that the pile penetration depth is adjustable to suit the actual environment and seabed conditions as compared to jacket, tripod and floating structures. Seabed conditions are of prime importance since the condition varies from region to region. Based on the seabed condition, the pile is driven down by impact hammer. In some places, grouting is also performed for firm support of the foundation.

A jacket typically consists of 4-legged structure. The legs of the steel structure are supported by diagonal and horizontal brace members connected to a transition piece. Entire structure is made up of steel. A tripod frame is similar to a jacket with only difference is that the frame is triangular in shape. The members are connected to each other and the brace members are connected to the central transition piece for firm support. Due to angular frame in a tripod structure, it can easily reduce deflections more than that of a jacket structure. The tripod structure is similar to the technology utilized in offshore oil and gas tripod jacket. In both tripod and jacket structure, the piles are driven from the legs into the seabed with the help of an impact hammer. Floating structures are submerged partially in water by pre-tensioned vertical anchor legs. The partially submerged part assists in dampening the systems motion. The floating structures are more preferred for deep water installations. The structure can be towed to site and connected to the anchor piles or suction caissons.

On the basis of water depth, the global offshore wind energy market is categorized into following segments:

  • Shallow Water (Up to 29m deep)
  • Transitional Water (30-60m deep)
  • Deep Water (Above 60m deep)

Offshore Wind Energy Market

With the rise in grid connection of offshore wind energy, the need for an hour is to utilize and harness more wind energy which are at higher distances from the shore. The shallow waters may also pose risk to the vessels and ships moving in and out of the port of any country. The deep water offshore wind turbine designs are suitable for water depths of 60m and above. The offshore wind energy developing companies are investing heavily in the R&D to optimize and exploit this widely available marine resource. The cost of installation are a bit on higher side but the output energy is more continuous and multiple grid connection will be possible that has wide outreach in terms of electrical power end user. Thus the slow but firm shift of offshore wind energy from shallow to deep waters is gaining more importance in Europe and in developing Asian countries. Current commercial offshore wind farms are limited to shallow waters. The first phase of Blue H wind turbine was installed in 2008 at 113m deep and 11.5 Nm (Nautical Miles) off the coast of southern Italy. Though the load was connected to the grid in early 2015.

On the basis of geographical distribution, the global offshore wind energy market is segmented into following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Denmark
    • Germany
    • Netherlands
    • Belgium
    • U.K.
    • Sweden
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World

Offshore Wind Energy Market

Europe is the world leader in offshore wind energy market. More than 85% of offshore wind installations were located in European countries by 2016. The global offshore wind energy market evolved in Europe in the early ninety’s. Other countries which contribute to a large extent in the market are China, Japan, South Korea and the U.S.  The Chinese government had set ambitious target of more than 10 GW offshore installations by 2020. India has come up with its first offshore wind turbine based on LiDAR (Light Detection and Ranging) technology off its western coast for demonstration purpose. LiDAR technology is a remote sensing method to examine earth’s surface and its characteristics based on data collection by air. The commissioning was done in November 2017 by FOWIND. The data from this offshore LiDAR is expected to support efforts towards exploration of offshore potential along Indian coastline. China and India are expected to have phenomenal growth in the market for the forecast period.

Choose License Type
Connect With Us
+1-800-361-8290
24/7 Research Support

Credence Webinars

Join Credence analysts to explore the latest IT Trends

view upcoming webinars

Our Clients