- Shallow Water
- Deep Water
Offshore Wind Turbines Market size was valued at USD 36,441.8 million in 2022 and is expected to grow at a prominent growth rate of 12.3% from 2023 to 2029. The global market provides a detailed overview of the global Offshore Wind Turbines market, and that can be segmented by Location, Foundation, Capacity, and by end user. By Location, the global Offshore Wind Turbines market has been segmented into Shallow Water, Deep Water. The shallow water Offshore Wind Turbines segment is likely to be the largest and fastest-growing segment in terms of location. Based on the foundation, the global Offshore Wind Turbines market is segmented into Floating, Fixed, Monopile, Tripod, Gravity base, Jacket, and Others. Among these, the floating segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on capacity, the global Offshore Wind Turbines market is segmented into Less than 5MW, 5MW-10 MW, and More than 10 MW. The 5MW-10 MW segment accounts for the largest share in 2021. The 5MW segment is the second-largest share during the forecast period 2022-2028. Based on end users, the global Offshore Wind Turbines market is segmented into Residential, Commercial Greenhouse. The Commercial segment accounts for the largest share in 2021.
Study Period
Base Year
CAGR
Largest Market
Fastest Growing Market
Due to growing environmental concerns, the major market sectors are concentrating on increasing the generation of energy from renewable resources, such as wind and solar power, in order to reduce harmful emissions. To increase the effectiveness of the operation and the product portfolio, the major market players are managed to create a fantastic budget for projects and R&D activities. Numerous ongoing projects that feature cutting-edge technology are predicted to improve the infrastructure of current projects, which will likely accelerate the expansion of the offshore wind turbine market globally throughout the course of the projected period.
The global Offshore Wind Turbines market size is valued at USD 36,441.8 million in 2021 and is expected to grow at a prominent growth rate during the forecast period 2022 to 2028.
Major nations and companies are turning to the adoption of renewable energy sources, especially wind energy, as they can supply clean energy, as global energy demand is on the rise. The use of offshore wind energy using cutting-edge technologies has drawn numerous nations and businesses for significant expenditures.
The major key players of the Offshore Wind Turbines market are Enercon Gmbh, General Electric, Goldwind, Nordex Se, Regen Powertech, Sinovel Wind Group, Suzlon Energy Limited, Zhejiang Windey, Vestas, Siemens Energy
1. Executive Summary |
2. Global Offshore Wind Turbines Market Introduction |
2.1. Global Offshore Wind Turbines Market Taxonomy |
2.2. Global Offshore Wind Turbines Market Definitions |
2.2.1. Location |
2.2.2. Foundation |
2.2.3. Capacity |
2.2.4. End-Use |
3. Global Offshore Wind Turbines Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global Offshore Wind Turbines Market Dynamic Factors - Impact Analysis |
3.6. Global Offshore Wind Turbines Market Competition Landscape |
4. Global Offshore Wind Turbines Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Offshore Wind Turbines Market Forecast, By Location, 2018 - 2022 and Forecast, 2023 - 2029 |
5.1. Shallow Water |
5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Deep Water |
5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
6. Global Offshore Wind Turbines Market Forecast, By Foundation, 2018 - 2022 and Forecast, 2023 - 2029 |
6.1. Floating |
6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Fixed |
6.2.1. Monopile |
6.2.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.2.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.1.3. Market Opportunity Analysis |
6.2.2. Tripod |
6.2.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.2.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.2.3. Market Opportunity Analysis |
6.2.3. Gravity base |
6.2.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.2.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3.3. Market Opportunity Analysis |
6.2.4. Jacket |
6.2.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.2.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.4.3. Market Opportunity Analysis |
6.3. Others |
6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.3.3. Market Opportunity Analysis |
7. Global Offshore Wind Turbines Market Forecast, By Capacity, 2018 - 2022 and Forecast, 2023 - 2029 |
7.1. Less than 5MW |
7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. 5MW 10 MW |
7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. More than 10 MW |
7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
8. Global Offshore Wind Turbines Market Forecast, By End-Use, 2018 - 2022 and Forecast, 2023 - 2029 |
8.1. Residential |
8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.1.3. Market Opportunity Analysis |
8.2. Commercial |
8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
8.2.3. Market Opportunity Analysis |
9. Global Offshore Wind Turbines Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
9.1. North America |
9.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.1.3. Market Opportunity Analysis |
9.2. Europe |
9.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.2.3. Market Opportunity Analysis |
9.3. Asia-Pacific |
9.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.3.3. Market Opportunity Analysis |
9.4. Latin America |
9.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.4.3. Market Opportunity Analysis |
9.5. Middle East and Africa |
9.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
9.5.3. Market Opportunity Analysis |
9.6. Global Offshore Wind Turbines Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use, and Region, 2023 - 2029 |
10. North America Offshore Wind Turbines Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
10.1. Location Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.1.1. Shallow Water |
10.1.2. Deep Water |
10.2. Foundation Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.2.1. Floating |
10.2.2. Fixed |
10.2.2.1. Monopile |
10.2.2.2. Tripod |
10.2.2.3. Gravity base |
10.2.2.4. Jacket |
10.3. Capacity Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.3.1. Less than 5MW |
10.3.2. 5MW 10 MW |
10.3.3. More than 10 MW |
10.4. End-Use Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.4.1. Residential |
10.4.2. Commercial |
10.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.5.1. USA |
10.5.2. Canada |
10.6. North America Offshore Wind Turbines Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use, and Country, 2023 - 2029 |
10.7. North America Offshore Wind Turbines Market Dynamics Trends |
11. Europe Offshore Wind Turbines Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
11.1. Location Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.1.1. Shallow Water |
11.1.2. Deep Water |
11.2. Foundation Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.2.1. Floating |
11.2.2. Fixed |
11.2.2.1. Monopile |
11.2.2.2. Tripod |
11.2.2.3. Gravity base |
11.2.2.4. Jacket |
11.3. Capacity Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.3.1. Less than 5MW |
11.3.2. 5MW 10 MW |
11.3.3. More than 10 MW |
11.4. End-Use Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.4.1. Residential |
11.4.2. Commercial |
11.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.5.1. Germany |
11.5.2. UK |
11.5.3. France |
11.5.4. Spain |
11.5.5. Italy |
11.5.6. Russia |
11.5.7. Poland |
11.5.8. Rest of Europe |
11.6. Europe Offshore Wind Turbines Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use, and Country, 2023 - 2029 |
11.7. Europe Offshore Wind Turbines Market Dynamics Trends |
12. Asia-Pacific Offshore Wind Turbines Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
12.1. Location Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.1.1. Shallow Water |
12.1.2. Deep Water |
12.2. Foundation Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.2.1. Floating |
12.2.2. Fixed |
12.2.2.1. Monopile |
12.2.2.2. Tripod |
12.2.2.3. Gravity base |
12.2.2.4. Jacket |
12.3. Capacity Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.3.1. Less than 5MW |
12.3.2. 5MW 10 MW |
12.3.3. More than 10 MW |
12.4. End-Use Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.4.1. Residential |
12.4.2. Commercial |
12.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.5.1. Japan |
12.5.2. China |
12.5.3. India |
12.5.4. ASEAN |
12.5.5. Australia & New Zealand |
12.5.6. Rest of Asia-Pacific |
12.6. Asia-Pacific Offshore Wind Turbines Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use, and Country, 2023 - 2029 |
12.7. Asia-Pacific Offshore Wind Turbines Market Dynamics Trends |
13. Latin America Offshore Wind Turbines Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
13.1. Location Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.1.1. Shallow Water |
13.1.2. Deep Water |
13.2. Foundation Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.2.1. Floating |
13.2.2. Fixed |
13.2.2.1. Monopile |
13.2.2.2. Tripod |
13.2.2.3. Gravity base |
13.2.2.4. Jacket |
13.3. Capacity Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.3.1. Less than 5MW |
13.3.2. 5MW 10 MW |
13.3.3. More than 10 MW |
13.4. End-Use Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
13.4.1. Residential |
13.4.2. Commercial |
13.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
13.5.1. Brazil |
13.5.2. Mexico |
13.5.3. Argentina |
13.5.4. Rest of Latin America |
13.6. Latin America Offshore Wind Turbines Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use, and Country, 2023 - 2029 |
13.7. Latin America Offshore Wind Turbines Market Dynamics Trends |
14. Middle East and Africa Offshore Wind Turbines Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn)Â |
14.1. Location Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.1.1. Shallow Water |
14.1.2. Deep Water |
14.2. Foundation Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.2.1. Floating |
14.2.2. Fixed |
14.2.2.1. Monopile |
14.2.2.2. Tripod |
14.2.2.3. Gravity base |
14.2.2.4. Jacket |
14.3. Capacity Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.3.1. Less than 5MW |
14.3.2. 5MW 10 MW |
14.3.3. More than 10 MW |
14.4. End-Use Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
14.4.1. Residential |
14.4.2. Commercial |
14.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
14.5.1. Gulf Cooperation Council (GCC) Countries |
14.5.2. Israel |
14.5.3. South Africa |
14.5.4. Rest of MEA |
14.6. MEA Offshore Wind Turbines Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use, and Country, 2023 - 2029 |
14.7. MEA Offshore Wind Turbines Market Dynamics Trends |
15. Competition Landscape |
15.1. Strategic Dashboard of Top Market Players |
15.2. Company Profiles (Introduction, Financial Analysis, Feedstock Material & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
15.2.1. Siemens Gamesa Renewable Energy SA |
15.2.2. Vestas Wind Systems A/S |
15.2.3. Xinjiang Goldwind Science & Technology Co. Ltd |
15.2.4. Guodian United Power Technology Company Limited, |
15.2.5. General Electric Company |
15.2.6. Iberdrola, S.A. |
15.2.7. Nordex SE |
15.2.8. Senvion SA |
15.2.9. Suzlon Energy Ltd |
15.2.10. Hitachi Limited |
15.2.11. Envision Energy Limited |
15.2.12. Enercon GmbH |
15.2.13. TE Connectivity |
16. Research Methodology |
17. Key Assumptions and Acronyms |