Offshore Wind Market by Component (Turbine, Substructure, and Electrical Infrastructure), Turbine Module, Substructure Type, Location (Shallow Water, Transitional Water, and Deep Water), and Region - Global Forecast to 2022

  • ID: 4267330
  • Report
  • Region: Global
  • 148 Pages
  • Markets and Markets
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The Offshore Wind Market is Projected to Reach USD 55.11 Billion By 2022, at a CAGR Of 15.32% From 2017 to 2022.

FEATURED COMPANIES

  • A2 Sea
  • ABB, Ltd.
  • Adwen
  • Eew Group
  • General Electric Company
  • Nexans S.A.
  • MORE

“The offshore wind market is projected to grow at a CAGR of 15.32% from 2017 to 2022”

The offshore wind market has been rapidly growing, especially in Europe as it contributed the European Union (EU) to meet its renewable energy targets for 2020. The global demand for electric power is increasing due to various factors such as urbanization, increased industrialization, and economic development among others. Rising energy demand and energy efficiency mandates drive the demand for the offshore wind market. The offshore wind market is gaining acceptance due to its high capacity factor which makes it an important renewable resource to help in the reduction of CO2 emissions. Moreover, countries like China and the U.S. are also focusing on emission reduction.

“The monopile substructure segment is expected to be the largest market from 2017 to 2022”

With regard to the substructure segment, monopiles are expected to constitute the largest market from 2017 to 2022. This type of substructure is mostly the preferred foundation type in the shallow water location. It is mostly used for its simplicity, both in terms of installation and fabrication. Monopiles have been recently upgraded to be used in greater water depths and, thus, it is expected to maintain its position and cover the largest market during the forecast period.

“The nacelle component in the turbines is expected to be the largest segment for the offshore wind market from 2017 to 2022”

The nacelle is an important part of the turbine. It accounts for the maximum cost of the turbine as it comprises all the major power generation equipment, namely, generator, gearbox, bearings, yaw system, converter, transformer, and switchgear among others. Hence, it is an integral part of the turbine and is expected to hold the largest share in the turbine component during the forecast period.

“Europe: The largest market for the offshore wind market”

The market in Europe is currently the largest market for offshore wind, followed by Asia-Pacific and North America. Growth in the region is primarily driven by the U.K., Germany, and Denmark. The U.K. is expected to dominate the offshore wind market. Rising energy efficiency mandates by the countries for meeting European Union’s (EU) renewable energy targets for 2020, would result in increasing the demand for offshore wind energy in Europe.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1- 67%, Tier2- 21%, Tier 3- 12%
  • By Designation: C-Level- 25%, D-Level- 35%, Engineer-Level- 40%
  • By Region: North America- 12%, Europe- 68%, Asia-Pacific- 20%

The tier of the companies has been defined on the basis of their total revenue, as of 2015: Tier 1 = > USD 10 billion, Tier 2 = From USD 1 billion to USD 10 billion, and Tier 3 = < USD 1 billion
Source: Industry Experts and MarketsandMarkets Analysis

Research Coverage:

From an insight perspective, this research report has focused on various levels of analysis, such as, industry analysis (industry trends), market ranking of top players, supply chain analysis, and company profiles, which together comprises and discuss the basic views on the competitive landscape; emerging and high-growth segments of the offshore wind market; high-growth regions; and market drivers, restraints, and opportunities.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on products and integrated solutions and services offered by top players in the global offshore wind market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the offshore wind market
  • Market Development: Comprehensive information about lucrative emerging markets- the report analyzes the markets for offshore wind across regions
  • Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global offshore wind market
  • Competitive Assessment: In depth vendor dive analysis of all the key players, strategies, products, and manufacturing capabilities of the leading players in the global offshore wind market
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FEATURED COMPANIES

  • A2 Sea
  • ABB, Ltd.
  • Adwen
  • Eew Group
  • General Electric Company
  • Nexans S.A.
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Markets Covered
1.3.2 Countries Covered
1.3.3 Sub-Segments Covered
1.3.4 Years Considered for the Study
1.4 Currency & Pricing
1.5 Assumptions
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Introduction
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Offshore Wind Market, By Component
4.2 Offshore Wind Market, By Location
4.3 Offshore Wind Market, By Substructure
4.4 The North American Market is Expected to Foresee Investments in the Renewable Energy

5 Market Overview
5.1 Introduction
5.2 Economics of Offshore Wind
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Rising Energy Demand Coupled With Increasing Share of Renewable Energy in the Power Generation Mix
5.3.1.2 Energy-Efficiency Mandates and Government Incentives
5.3.2 Restraints
5.3.2.1 High Capital Cost and Issues Associated With Maintenance & Logistics
5.3.3 Opportunities
5.3.3.1 Coal & Nuclear Phase-Out
5.3.3.2 Focus on Water Conservation
5.3.4 Challenges
5.3.4.1 Growth of Distributed Energy Resources

6 Offshore Wind Market, By Component
6.1 Introduction
6.2 Turbine
6.2.1 Nacelle
6.2.2 Rotor & Blades
6.2.3 Tower
6.3 Substructure
6.3.1 Monopile
6.3.2 Jacket and Gravity Based
6.3.3 Other Types
6.4 Electrical Infrastructure
6.5 Others

7 Offshore Wind Market, By Location
7.1 Introduction
7.2 Shallow Water (< 30m Depth)
7.3 Transitional Water (30m – 60m Depth)
7.4 Deep Water (> 60m Depth)

8 Offshore Wind Market, By Region
8.1 Introduction
8.2 Europe
8.2.1 By Component
8.2.2 By Turbine Module
8.2.3 By Substructure Type
8.2.4 By Location
8.2.5 By Country
8.2.5.1 The U.K.
8.2.5.2 Germany
8.2.5.3 Denmark
8.2.5.4 Belgium
8.2.5.5 The Netherlands
8.2.5.6 Sweden
8.2.5.7 Finland
8.2.5.8 The Rest of Europe
8.3 Asia-Pacific
8.3.1 By Component
8.3.2 By Turbine Module
8.3.3 By Substructure Type
8.3.4 By Location
8.3.5 By Country
8.3.5.1 China
8.3.5.2 Japan
8.3.5.3 South Korea
8.3.5.4 Taiwan
8.4 North America
8.4.1 By Component
8.4.2 By Turbine Module
8.4.3 By Substructure Type
8.4.4 By Location
8.4.5 By Country
8.4.5.1 The U.S.

9 Competitive Landscape
9.1 Overview
9.2 Offshore Wind Market – Market Ranking (Turbine Manufacturers)
9.3 Competitive Situation & Trends
9.4 Offshore Wind Market: MnM Dive Vendor Comparison

10 Company Profiles
(Overview, Products & Services, Strategies & Insights, Developments and MnM View)*
10.1 Introduction
10.2 Adwen
10.3 Ming Yang Smart Energy Group Co.
10.4 Doosan Heavy Industries and Construction Co., Ltd
10.5 General Electric Company
10.6 MHI Vestas Offshore Wind A/S
10.7 Senvion SA
10.8 Siemens AG
10.9 Sinovel Wind Group Co.
10.10 A2 Sea
10.11 ABB, Ltd.
10.12 Eew Group
10.13 Nexans S.A.
*Details on Overview, Products & Services, Strategies & Insights, Developments and MnM View Might Not Be Captured in Case of Unlisted Companies.

11 Appendix
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Subscription Portal
11.4 Introducing RT: Real-Time Market Intelligence
11.5 Available Customizations
11.6 Related Reports
11.7 Author Details

List of Tables (65 Tables)
Table 1 Global Offshore Wind Market Snapshot
Table 2 Offshore vs Onshore Wind
Table 3 Offshore Wind Capacity Scenarios Per Country (Mw)
Table 4 Offshore Wind Support Mechanisms in Key Countries
Table 5 Key Uses of Water for Power Generation & Potential Water Quality Impacts
Table 6 Offshore Wind Market Size, By Component, 2015−2022 (USD Million)
Table 7 Turbine: Offshore Wind Market Size, By Region, 2015−2022 (USD Million)
Table 8 Turbine: By Size, By European Countries, 2015−2022 (USD Million)
Table 9 Turbine: By Market Size, By Asia-Pacific Countries, 2015−2022 (USD Million)
Table 10 Turbine: By Market Size, By North American Country, 2015−2022 (USD Million)
Table 11 Turbine: By Market Size, By Module, 2015−2022 (USD Million)
Table 12 Nacelle: By Market Size, By Region, 2015−2022 (USD Million)
Table 13 Rotor & Blades: By Market Size, By Region, 2015−2022 (USD Million)
Table 14 Tower: By Market Size, By Region, 2015−2022 (USD Million)
Table 15 Substructure: By Market Size, By Region, 2015−2022 (USD Million)
Table 16 Substructure: By Market Size, By European Countries, 2015−2022 (USD Million)
Table 17 Substructure: By Market Size, By Asia-Pacific Countries, 2015−2022 (USD Million)
Table 18 Substructure: By Market Size, By North American Country, 2015−2022 (USD Million)
Table 19 Substructure: By Market Size, By Type, 2015−2022 (USD Million)
Table 20 Monopile: By Market Size, By Region, 2015−2022 (USD Million)
Table 21 Jacket and Gravity Based: By Market Size, By Region, 2015−2022 (USD Million)
Table 22 Other Types: By Market Size, By Region, 2015−2022 (USD Million)
Table 23 Electrical Infrastructure: By Market Size, By Region, 2015−2022 (USD Million)
Table 24 Electrical Infrastructure: By Market Size, By European Countries, 2015−2022 (USD Million)
Table 25 Electrical Infrastructure: By Market Size, By Asia-Pacific Countries, 2015−2022 (USD Million)
Table 26 Electrical Infrastructure: By Market Size, By North American Country, 2015−2022 (USD Million)
Table 27 Others: Offshore Wind Market Size, By Region, 2015−2022 (USD Million)
Table 28 Others: By Market Size, By European Countries, 2015−2022 (USD Million)
Table 29 Others: By Market Size, By Asia-Pacific Countries, 2015−2022 (USD Million)
Table 30 Others: By Market Size, By North American Country, 2015−2022 (USD Million)
Table 31 By Market Size, By Location, 2015−2022 (USD Million)
Table 32 Shallow Water: Offshore Wind Market Size, By Region, 2015−2022 (USD Million)
Table 33 Transitional Water: By Market Size, By Region, 2015–2022 (USD Million)
Table 34 Deep Water: By Market Size, By Region, 2015−2022 (USD Million)
Table 35 Offshore Wind Market Size, By Region, 2015−2022 (USD Million)
Table 36 Europe: Offshore Wind Market Size, By Component, 2015–2022 (USD Million)
Table 37 Europe: By Market Size, By Turbine Module, 2015−2022 (USD Million)
Table 38 Europe: By Market Size, By Substructure Type, 2015−2022 (USD Million)
Table 39 Europe: By Market Size, By Location, 2015−2022 (USD Million)
Table 40 Europe: By Market Size, By Country, 2015−2022 (USD Million)
Table 41 The U.K.: Offshore Wind Market Size, By Component, 2015−2022 (USD Million)
Table 42 Germany: By Market Size, By Component, 2015−2022 (USD Million)
Table 43 Denmark: By Market Size, By Component, 2015−2022 (USD Million)
Table 44 Belgium: By Market Size, By Component, 2015−2022 (USD Million)
Table 45 The Netherlands: By Market Size, By Component, 2015−2022 (USD Million)
Table 46 Sweden: By Market Size, By Component, 2015–2022 (USD Million)
Table 47 Finland: By Market Size, By Component, 2015–2022 (USD Million)
Table 48 The Rest of Europe: By Market Size, By Component, 2015–2022 (USD Million)
Table 49 Asia-Pacific: By Market Size, By Component, 2015–2022 (USD Million)
Table 50 Asia-Pacific: By Market Size, By Turbine Module, 2015–2022 (USD Million)
Table 51 Asia-Pacific: By Market Size, By Substructure Type, 2015–2022 (USD Million)
Table 52 Asia-Pacific: By Market Size, By Location, 2015–2022 (USD Million)
Table 53 Asia-Pacific: By Market Size, By Country, 2015–2022 (USD Million)
Table 54 China: Offshore Wind Market Size, By Component, 2015–2022 (USD Million)
Table 55 Japan: By Market Size, By Component, 2015–2022 (USD Million)
Table 56 South Korea: By Market Size, By Component, 2015–2022 (USD Million)
Table 57 Taiwan: By Market Size, By Component, 2015–2022 (USD Million)
Table 58 North America: By Market Size, By Component, 2015–2022 (USD Million)
Table 59 North America: By Market Size, By Turbine Module, 2015–2022 (USD Million)
Table 60 North America: By Market Size, By Substructure Type, 2015–2022 (USD Million)
Table 61 North America: By Market Size, By Location, 2015–2022 (USD Million)
Table 62 North America: By Market Size, By Country, 2015–2022 (USD Million)
Table 63 Offshore Wind Market Size, By Top Countries of Each Region, 2015–2022 (USD Million)
Table 64 Offshore Wind Market Size, By Fastest Growing Countries of Each Region, 2015–2022 (USD Million)
Table 65 Offshore Wind Market Size, By All Countries, 2015–2022 (USD Million)

List of Figures (64 Figures)
Figure 1 Offshore Wind Market: Research Design
Figure 2 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Offshore Wind Market Share, By Component, 2017 & 2022 (USD Million)
Figure 7 The Monopile Substructure Segment is Expected to Account for the Maximum Share During the Forecast Period
Figure 8 The Maximum Number of Offshore Wind Farms are Expected to Be Installed in Shallow Waters During the Forecast Period
Figure 9 The Market in Asia-Pacific Held the Largest Market Share in 2015
Figure 10 Attractive Market Opportunities in the Offshore Wind Market
Figure 11 Offshore Wind Market Share (Value), By Component, 2017–2022
Figure 12 The Shallow Water Segment is Estimated to Dominate the Offshore Wind Market By 2022
Figure 13 The Monopile Substructure Segment is Estimated to Dominate the Offshore Wind Market By 2022
Figure 14 The North American Market is Expected to Grow at the Fastest Pace During the Forecast Period
Figure 15 Rising Energy Demand Coupled With Increasing Share of Renewable Energy in the Power Generation Mix is A Major Factor Driving the Offshore Wind Market
Figure 16 Electric Power Consumption (KWH Per Capita)
Figure 17 Electricity Production From Renewable Sources, Excluding Hydroelectric (TWH)
Figure 18 Global CO2 Emissions From Fossil Fuel Use & Cement Production 1995–2015 (Kton CO2 Per Year)
Figure 19 CO2 Emissions: Shares By Fuel in 2014
Figure 20 Water Consumption for Energy Production
Figure 21 Turbine Segment is Expected to Dominate the Market During the Forecast Period
Figure 22 The Offshore Wind Market in Shallow Water Locations is Expected to Dominate the Market During the Forecast Period
Figure 23 Offshore Wind Market Segment, By Region, 2016
Figure 24 Regional Snapshot: Growth Rate of Offshore Wind Market in Various Countries, From 2017 to 2022
Figure 25 Regional Snapshot: the European Market Was the Largest Market in 2016
Figure 26 Regional Snapshot: Asia-Pacific Offered Attractive Market Opportunities in 2016
Figure 27 Companies Adopted, Contracts & Agreements as the Key Strategy to Capture the Market, 2014–2017
Figure 28 Battle for Market Share: Contracts & Agreements Was the Key Strategy, 2014–2017
Figure 29 Market Evaluation Framework: New Product Launches, Mergers & Acquisitions, Contracts & Agreements, Expansions & Investments, and Joint Ventures & Partnerships Fueled the Growth of Companies From January 2014 to April 2017
Figure 30 Vendor Dive Matrix
Figure 31 Product Strategy Comparison
Figure 32 Business Strategy Comparison
Figure 33 Adwen: Products Offering Scorecard
Figure 34 Adwen: Business Strategy Scorecard
Figure 35 Ming Yang Smart Energy Group Co: Products Offering Scorecard
Figure 36 Ming Yang Smart Energy Group Co.: Business Strategy Scorecard
Figure 37 Doosan Heavy Industries and Construction Co. Ltd: Company Snapshot (2016)
Figure 38 Doosan Heavy Industries and Construction Co. Ltd: Products Offering Scorecard
Figure 39 Doosan Heavy Industries and Construction: Business Strategy Scorecard
Figure 40 General Electric Company: Company Snapshot (2016)
Figure 41 General Electric Company: Products Offering Scorecard
Figure 42 General Electric Company: Business Strategy Scorecard
Figure 43 MHI Vestas Offshore Wind A/S: Products Offering Scorecard
Figure 44 MHI Vestas Offshore Wind A/S: Business Strategy Scorecard
Figure 45 Senvion SA: Company Snapshot (2016)
Figure 46 Senvion SA: Products Offering Scorecard
Figure 47 Senvion SA: Business Strategy Scorecard
Figure 48 Siemens AG: Company Snapshot (2016)
Figure 49 Siemens AG: Products Offering Scorecard
Figure 50 Siemens AG: Business Strategy Scorecard
Figure 51 Sinovel Wind Group Co.: Company Snapshot (2015)
Figure 52 Sinovel Wind Group Co.: Products Offering Scorecard
Figure 53 Sinovel Wind Group Co.: Business Strategy Scorecard
Figure 54 A2 Sea: Company Snapshot (2016)
Figure 55 A2 Sea: Products Offering Scorecard
Figure 56 A2 Sea: Business Strategy Scorecard
Figure 57 ABB, Ltd.: Company Snapshot (2016)
Figure 58 ABB, Ltd.: Products Offering Scorecard
Figure 59 ABB, Ltd.: Business Strategy Scorecard
Figure 60 Eew Group: Products Offering Scorecard
Figure 61 Eew Group: Business Strategy Scorecard
Figure 62 Nexsans S.A.: Company Snapshot
Figure 63 Nexsans S.A.: Products Offering Scorecard
Figure 64 Nexsans S.A.: Business Strategy Scorecard

Note: Product cover images may vary from those shown
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  • A2 Sea
  • ABB, Ltd.
  • Adwen
  • Doosan Heavy Industries and Construction Co., Ltd
  • Eew Group
  • General Electric Company
  • MHI Vestas Offshore Wind A/S
  • Ming Yang Smart Energy Group Co.
  • Nexans S.A.
  • Senvion SA
  • Siemens AG
  • Sinovel Wind Group Co.
Note: Product cover images may vary from those shown
6 of 6
Note: Product cover images may vary from those shown
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