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Offshore Wind Energy Farms Market By Component (Turbines, Support Structure, Electrical Infrastructure, Assembly, Transportation And Installation) - Growth, Future Prospects And Competitive Analysis 2017 – 2025

Offshore wind energy farms refer to the electric energy generation plants set up near coastal areas with shallow waters. Such wind farms comprise numerous turbines that convert wind energy into electricity that can be transported to the on-shore grid through undersea cables. With increasing concerns pertaining to traditional methods of energy generation, there has been an increasing adoption of renewable energy across the world. Wind energy has offered viable solutions to harnessing electricity through the strong and limitless winds blowing in most regions of the world.

Over the past few decades, on-shore wind energy farms have gained immense popularity on account of the ease of adoption and convenience of connecting the wind farm to the local energy grid. However, factors such as higher power generation capacity and the minimal need to acquire land have led to the growing adoption of offshore wind energy farms. Moreover, on account of the high-speed nature of offshore winds, similar turbines are able to generate significantly more power as compared to on-shore winds. As a result, investments in offshore wind energy farms have increased in recent years.

Government initiatives and investments in cleaner energy generation are one of the major factors driving growth in the offshore wind energy farms market. Numerous governments, especially in the European region, have been aggressively engaged in increasing their wind energy generation capacity in recent years. Currently, Europe accounts for about 90% of the overall offshore wind energy production across the world.

Thereby, the offshore wind energy farm market is primarily driven by activities in countries including the UK, Germany, Denmark, Belgium, the Netherlands, and Sweden, among others. However, with increasing demand from numerous countries such as China, Japan, India, and South Korea, the Asia Pacific region is expected to witness significant growth during the forecast period from 2017 to 2025.

The report titled "Global Off-shore Wind Energy Farms Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025" offers strategic insights into the global offshore wind energy farms market along with the market size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of multiple market segments based on components and a cross-sectional study across different geographies and sub-geographies.

The study covers the comparative analysis of different segments for the years 2016 and 2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities. In addition, the report covers a section providing qualitative insights on various government initiatives and future planning toward offshore wind energy generation.

In order to help strategic decision-makers, the report also includes competitive profiling of the leading providers in the offshore wind energy industry, market positioning, and key developments. Some of the major players profiled in the report are Siemens Wind Power GmbH & Co. KG, DONG Energy A/S, Vestas Wind Systems A/S, GE Renewable Energy, ADWEN Offshore, S.L., Senvion S.A., Samsung Heavy Industries Co. Ltd., Suzlon Energy Limited, Nordex SE, and Sinovel Wind Group Co., Ltd.

Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the offshore wind energy industry
  • Market fuelers, market impediments, and their impact on market growth
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2015–2016)

Overall, the research study provides a holistic view of the global offshore wind energy farms market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

The global offshore wind energy farms market is segmented, based on component, into the following categories:

  • Turbines
  • Support Structure
  • Electrical Infrastructure
  • Assembly, Transportation, and Installation

 In 2016, the turbines segment held the largest share in terms of revenue in the overall design and implementation of wind energy farms across the world. Some of the leading providers of wind energy turbines included Siemens, Adwen, Vestas, and Senvion, among others.

With increasing production capacity, companies are expected to achieve better economies of scale, resulting in a reduction in turbine costs towards the end of the forecast period. Thereby, despite increasing sales of turbines, the segment's revenue contribution to the overall offshore wind energy farms market is expected to be lower by the end of the forecast period.

The support structure segment is expected to grow in tandem with the turbine segment throughout the forecast period. With increasing installations of new turbines, there is expected to be a proportional demand for various types of support structures. The assembly, transportation, and installation segment are expected to witness higher growth on account of increasing demand for various design and consultation services.

The global offshore wind energy farms market has been segmented on the basis of geographical regions, as per the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

In 2016, Europe dominated the overall offshore wind energy farm market in terms of both revenue and production capacity. The segment contributed to more than 90% of the overall market across the world. Factors such as the high level of investments in harnessing offshore wind energy and effective government policies in the European region have contributed to this high revenue share.

Moreover, with various planned projects for expansion and new installations of offshore wind energy farms, the Europe region offers immense growth opportunities in the following years.

Asia Pacific and North America followed Europe in the overall offshore wind energy farm market in terms of revenue. With increasing investments in offshore wind energy in countries including China, Japan, South Korea, and India, the Asia-Pacific market is expected to witness the fastest growth during the forecast period.

Frequently Asked Question:

The market for Offshore Wind Energy Farms Market is expected to reach USD$ 5.4 Bn in 2025.

The Offshore Wind Energy Farms Market is expected to see significant CAGR growth over the coming years, at 3.9%.

The report is forecasted from 2017 -2025.

The base year of this report is 2016.

DONG Energy A/S, Vestas Wind Systems A/S, GE Renewable Energy, ADWEN Offshore, S.L., Senvion S.A., Samsung Heavy Industries Co. are some of the major players in the global market.

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Published Date:  May 2017
Category:  Energy
Report ID:   58448
Report Format:   PDF
Pages:   120
Rating:    4.5 (60)
Delivery Time: 24 Hours to 48 Hours   
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