Offshore Wind Turbine Markets, 2023 -

The "Global Offshore Wind Turbine Market - Segmented by Location, Foundation Type, Capacity, and Geography - Growth, Trends, and Forecast (2018 - 2023)" report has been added to's offering.

The wind power sector has progressed significantly since the installation of the first offshore wind farm in 1991, by Elkraft (now Orsted) at Vindeby, Denmark.

Although, offshore wind accounts for marginal 0.2% of the global electricity generation, factors such as technology advancement, policy support, and a maturing supply chain are making offshore wind an increasingly viable option for renewables-based electricity generation.

In 2017, the global offshore wind power installations reached 4,334 MW, thereby increasing the cumulative installed capacity of offshore wind capacity to 18,814 MW.

Although 84% of the total offshore wind installations are in the European waters, the governments outside the European region, particularly in the Asia-Pacific and North America have set an ambitious target for the installation of offshore wind farms in their respective territorial waters.

Installations are also moving further from shore into deeper waters with a substantial increase in the height of the turbine and the associated capacity.

Moreover, growing investments for the development of offshore wind farms is expected to further supplement the demand for offshore wind turbines during the forecast period, which in turn, is expected to offer enormous potential for growth for the market players.

Major Highlights
  • Falling Cost Supplementing Offshore Wind Installation
  • Europe to Maintain High Growth Rate
  • China Set to Become New Hotspot

Key Developments in the Market

  • Jan De Nul Group and Hitachi Ltd, has signed a contract for the manufacturing and installation of 21, 5.2MW wind turbines for the Changhua Offshore Wind Farm Project in Taiwan.
  • Imenco won the contract for world's largest offshore wind farm.

Key Topics Covered

1. Executive Summary

2. Research Methodology

3. Market Overview

4. Market Dynamics

5. Value Chain Analysis

6. Industry Attractiveness - Porter's Five Forces Analysis

7. Market Segmentation and Analysis

8. Regional Market Analysis

9. Key Company Analysis

10. Competitive Landscape

  • Vestas Wind Systems A/S
  • Siemens Gamesa Renewable Energy S.A.
  • General Electric Company
  • Nordex S.E.
  • Senvion S.A.
  • Suzlon Energy Ltd.
  • Xinjiang Goldwind Science & Technology Co. Ltd.
  • Guodian United Power Technology Company Limited
  • Enercon GmbH
  • Envision Energy Limited
  • Hitachi Ltd.

For more information about this report visit