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Offshore Wind Market - Global Industry Analysis, Trends, Growth and Forecast 2017 – 2024

Author: Shankar Khatkale
by Shankar Khatkale
Posted: Aug 16, 2017

Endorsing its dominance in Europe, offshore wind market has generated quite an appreciable momentum on a global scale over the recent years. As per the records, in 2016, 88% of the overall offshore wind installations were located across ten European countries and the remaining 12% installations were spread across the U.S., China, Japan, and South Korea belt. This massive expansion of offshore wind power can certainly be credited to the rising emphasis of both the private and the government entities on energy optimization.

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The recently recorded price trends of the offshore wind have indeed led to a dynamic revolution in the global landscape. The Dutch tender for Borssele 1 &2 in June 2016 marked this transformation era with a valuation of €72/MWh. This was trailed by a Danish tender worth €64/MWh. November and December 2016 further registered these developments with tenders of €49.90/MWh and €54.50/MWh by Danish Krieger’s Flak project and Netherlands Borssele 3 & 4 respectively.

Furthermore, the increasing urbanization and economic developments which have subsequently boosted the electricity demand is also playing a major role in fueling offshore wind market trends. Countries are treading toward the deployment of the renewable energy sources to fulfill their energy needs and meet the sustainability standards. Sources claim that by 2020, 8-10% of UK’s electricity demand will be addressed by offshore wind.

Not only the European belt but the other regions as well are actively deploying offshore wind to meet the energy and sustainability standards. Below is the synopsis of offshore wind market on a global scale:

  • The U.S. offshore wind market is projected to register substantial gains through 2024, driven by the strong government initiatives to meet the clean energy demands. The country entered the offshore wind industry space profoundly post completing its first offshore wind farm of 30 MW capacity in 2016.
  • In 2017, the government of Germany in collaboration with the government of Denmark and Belgium stated to integrate 60 GW offshore capacity by 2027. With such favorable regulatory framework and the declining component costs, Germany offshore wind industry is poised to witness remarkable gains over 2017-2024.
  • Netherlands offshore wind market is further slated to record remarkable gains over the coming six years, driven by the strict regulations to meet the energy demand. The country established its largest offshore farm across North Sea with a capacity to produce 2.6 TWh of clean energy annually.
  • China offshore wind industry is set to exceed a capacity target of 12 GW by 2024, driven by strict targets pertaining to clean energy consumption and generation.

Given the developments pertaining to the global offshore wind market, this business space is ought to witness a fiercely competitive landscape over the years ahead. Global Market Insights, Inc. estimates offshore wind market to exceed a capacity of 60 GW by 2024. Some of the renowned names in this industry include Siemens, Senvion, Adwen, Sinovel, MHI Vestas, and Doosan Heavy Industries & Construction.

Browse key industry insights spread across 240 pages with 168 market data tables & 9 figures & charts from this report Offshore Wind Market in detail along with the table of contents at:

Report Content

Chapter 1 Methodology & Scope

1.1 Research Methodology

1.1.1 Initial data exploration

1.1.2 Statistical model and forecast

1.1.3 Industry insights and validation

1.1.4 Scope and assumptions

1.2 Data Sources

1.2.1 Primary

1.2.2 Secondary

Chapter 2 Executive Summary

2.1 Offshore Wind industry 3600 synopsis, 2013 - 2024

2.1.1 Business trends

2.1.2 Process trends

2.1.3 Product trends

2.1.4 Shelf life trends

2.1.5 Regional trends

Chapter 3 Offshore Wind Industry Insights

3.1 Industry segmentation

3.2 Industry size & forecast, 2013 – 2024

3.3 Industry ecosystem analysis

3.3.1 Vendor matrix

3.4 Technology & innovation landscape

3.5 Regulatory landscape

3.5.1 U.S.

3.5.2 China

3.6 Industry impact forces

3.6.1 Growth drivers Increasing adoption of solar panels Government regulations Effective disposal of solar panels Untapped potential

3.6.2 Industry pitfalls & challenges Expensive technology

3.7 Growth potential analysis

3.8 Porter’s analysis

3.9 Competitive landscape, 2015

3.9.1 Strategy dashboard

3.10 PESTEL analysis

This latest Offshore Wind Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Offshore Wind industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.

Reasons to Buy This Report

  • Global Offshore Wind Market size & forecast by product & application.
  • Growth drivers, pitfalls & industry challenges.
  • Key Offshore Wind Market growth opportunities & emerging business models.
  • Competitive benchmarking with market share analysis and company profiles.

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Author: Shankar Khatkale

Shankar Khatkale

Member since: Jan 16, 2017
Published articles: 144

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