Jul 14, 2022   SOURCE: BusinessWire

$24.7 Billion Worldwide Offshore Wind Energy Industry to 2027 - Featuring General Electric, Nordex and Northland Power Among Others - ResearchAndMarkets.com

The "Offshore Wind Energy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global offshore wind energy market reached a value of US$ 9.14 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 24.71 Billion by 2027, exhibiting a CAGR of 18.03% during 2021-2027.

Companies Mentioned

  • E.ON SE
  • Electricite de France S.A.
  • Equinor ASA
  • General Electric Company
  • Nordex SE
  • Northland Power Inc.
  • Orsted A/S
  • Siemens Gamesa Renewable Energy S.A. (Siemens Energy AG)
  • Suzlon Energy Limited
  • Vestas Wind Systems A/S
  • Xinjiang Goldwind Science & Technology Co. Ltd.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Offshore wind energy relies on wind turbines located in ocean waters to generate electricity, which is transmitted via cables to the mainland grid. It is a cost-effective, abundant, and clean source of energy. It can provide reliable and affordable renewable power near coastal energy load centers wherein there is a scarcity of sites for large-scale renewable energy development.

It helps reduce greenhouse gas (GHG) emissions, increase energy security and diversity, create jobs, and promote sustainable development. At present, there is a rise in the adoption of renewable sources of energy production and consumption across the globe, which is catalyzing the demand for offshore wind energy.

There is presently a considerable increase in the number of offshore wind farms worldwide. This, in confluence with the burgeoning energy sector, represents one of the key factors impelling the growth of the market. Moreover, onshore wind energy is nowadays near the development limit in several countries on account of the visual and noise impact constraints that make it increasingly challenging to find appropriate sites.

Besides this, physical blockages from buildings and landscapes like hills or mountains can also cause inconsistencies in production, and consequently, onshore wind cannot fails in generating energy year-round. However, recent developments in offshore wind energy are reducing visual impacts, minimizing turbulence, and lowering noise constraints. It is also more productive than land-based wind energy due to higher and more consistent wind speeds, which is impelling the market growth.

Furthermore, the construction of offshore wind turbine plants is more feasible as large offshore turbines can be transported using barges or ships. This, coupled with increasing investments in upcoming offshore wind power projects by governing authorities, is driving the market.

Key Questions Answered in This Report:

  • How has the global offshore wind energy market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global offshore wind energy market?
  • What are the key regional markets?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the foundation type?
  • What is the breakup of the market based on the capacity?
  • What is the breakup of the market based on the location?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global offshore wind energy market and who are the key players?
  • What is the degree of competition in the industry?

Key Topics Covered:

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Offshore Wind Energy Market

5.1 Market Overview

5.2 Market Performance

5.3 Impact of COVID-19

5.4 Market Forecast

6 Market Breakup by Component

7 Market Breakup by Foundation Type

8 Market Breakup by Capacity

9 Market Breakup by Location

10 Market Breakup by Region

11 SWOT Analysis

12 Value Chain Analysis

13 Porters Five Forces Analysis

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure

15.2 Key Players

15.3 Profiles of Key Players

For more information about this report visit https://www.researchandmarkets.com/r/zhn1dn