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Global Offshore Wind Power Market 2019-2023 - Product Image

Global Offshore Wind Power Market 2019-2023

  • ID: 4773711
  • Report
  • Region: Global
  • 122 pages
  • TechNavio
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FEATURED COMPANIES

  • General Electric Co.
  • Nexans SA
  • MORE
The rise in global energy demand is one of the key factors that will trigger the growth of the global offshore wind power market during the forecast period. There was strong growth in the global energy demand due to robust economic growth, propelled by countries such as China, the US, and India. Hence, with the growth of the population and the resulted increase in economic activities, electricity demand is expected to grow significantly during the forecast period. Factors such as the electrification of the heat and transportation sectors, the growth in the number of electronically connected devices, and the digitalization of modern economies have been encouraging the electrification of global energy systems. The demand for energy services such as air-conditioning is expected to rise in households in tandem with the growth in income levels. Furthermore, the use of electric motor systems in industries is fueling the energy demand in the industrial sector. Hence, the growth in energy demand is expected to augment the growth of the global offshore wind power market during the forecast period. Analysts have predicted that the offshore wind power market will register a CAGR of nearly 18% by 2023.

Market Overview

Rising government support

Owing to the rising demand for clean energy mix and the shift toward a service-based economy, the demand for renewable energy resources is expected to rise during the forecast period. In June 2018, the Ministry of New and Renewable Energy (MNRE) of India announced a medium- and long-term offshore wind energy target of 5 GW by 2022 and 30 GW by 2030, respectively. Also, in October 2015, the MNRE notified the National Off-Shore Wind Policy to realize the offshore wind power potential in the country. Similarly, Taiwan government has been actively supporting the development of offshore wind power systems. The UK announced its plan to increase its renewable energy development with a target of 30% of the electricity production in the country from offshore wind. Owing to such favorable government regulations and support, the global offshore wind power market is expected to grow during the forecast period.

Environmental concerns

Some of the major environmental concerns related to offshore wind power projects include increased noise levels, alterations to food webs, changes to benthic and pelagic habitats, risk of collisions, and pollution from increased marine vessel traffic or the release of contaminants from seabed sediments. The construction phase is likely to have the maximum impact on marine mammals. Also, mortality of birds can be caused by the collision with the moving turbine blades, which will affect the birds migrating through the area as well as the species that breed or forage in the vicinity. Hence, stringent rules and regulations have been imposed by respective authorities to avoid the adverse environmental impact of offshore wind power generation. The environmental concerns and the stringent regulations to preserve the marine ecosystem can limit the growth of the global offshore wind power market during the forecast period.

Competitive Landscape

The market appears to be moderately fragmented. The presence of several companies including General Electric Co. and MHI Vestas Offshore Wind AS makes the competitive environment quite intense. Factors such as the rising government support and rise in global energy demand will provide considerable growth opportunities to the offshore wind power manufacturers. Erndtebrücker Eisenwerk GmbH & Co. KG, Nexans SA, and Siemens Gamesa Renewable Energy SA. are some of the major companies covered in this report.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • General Electric Co.
  • Nexans SA
  • MORE
PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT
  • Preface
  • Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis
PART 04: MARKET SIZING
  • Market definition
  • Market sizing 2018
  • Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition
PART 06: CUSTOMER LANDSCAPE

PART 07: GEOGRAPHIC LANDSCAPE
  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2018-2023
  • ROW - Market size and forecast 2018-2023
  • Key leading countries
  • Market opportunity
PART 08: MARKET SEGMENTATION BY SUBSTRUCTURE TYPE
  • Market segmentation by substructure type
  • Comparison by substructure type
  • Monopile - Market size and forecast 2018-2023
  • Jacket - Market size and forecast 2018-2023
  • Others - Market size and forecast 2018-2023
  • Market opportunity by substructure type
PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES
  • Market drivers
  • Market challenges
PART 11: MARKET TRENDS
  • Rising popularity of clean energy technologies
  • Technological developments in wind power market
  • Rising popularity of floating wind turbines
PART 12: VENDOR LANDSCAPE
  • Overview
  • Landscape disruption
  • Competitive scenario
PART 13: VENDOR ANALYSIS
  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Erndtebrücker Eisenwerk GmbH & Co. KG
  • General Electric Co.
  • MHI Vestas Offshore Wind AS
  • Nexans SA
  • Siemens Gamesa Renewable Energy SA
PART 14: APPENDIX
  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors
PART 15: EXPLORE

List of Exhibits:
Exhibit 01: Global renewable energy market
Exhibit 02: Segments of global renewable energy market
Exhibit 03: Market characteristics
Exhibit 04: Market segments
Exhibit 05: Market definition - Inclusions and exclusions checklist
Exhibit 06: Market size 2018
Exhibit 07: Global market: Size and forecast 2018-2023 ($ billions)
Exhibit 08: Global market: Year-over-year growth 2019-2023 (%)
Exhibit 09: Five forces analysis 2018
Exhibit 10: Five forces analysis 2023
Exhibit 11: Bargaining power of buyers
Exhibit 12: Bargaining power of suppliers
Exhibit 13: Threat of new entrants
Exhibit 14: Threat of substitutes
Exhibit 15: Threat of rivalry
Exhibit 16: Market condition - Five forces 2018
Exhibit 17: Customer landscape
Exhibit 18: Market share by geography 2018-2023 (%)
Exhibit 19: Geographic comparison
Exhibit 20: Europe - Market size and forecast 2018-2023 ($ billions)
Exhibit 21: Europe - Year-over-year growth 2019-2023 (%)
Exhibit 22: ROW - Market size and forecast 2018-2023 ($ billions)
Exhibit 23: ROW - Year-over-year growth 2019-2023 (%)
Exhibit 24: Key leading countries
Exhibit 25: Market opportunity
Exhibit 26: Substructure type - Market share 2018-2023 (%)
Exhibit 27: Comparison by substructure type
Exhibit 28: Monopile - Market size and forecast 2018-2023 ($ billions)
Exhibit 29: Monopile - Year-over-year growth 2019-2023 (%)
Exhibit 30: Jacket - Market size and forecast 2018-2023 ($ billions)
Exhibit 31: Jacket - Year-over-year growth 2019-2023 (%)
Exhibit 32: Others - Market size and forecast 2018-2023 ($ billions)
Exhibit 33: Others - Year-over-year growth 2019-2023 (%)
Exhibit 34: Market opportunity by substructure type
Exhibit 35: Impact of drivers and challenges
Exhibit 36: Vendor landscape
Exhibit 37: Landscape disruption
Exhibit 38: Vendors covered
Exhibit 39: Vendor classification
Exhibit 40: Market positioning of vendors
Exhibit 41: Erndtebrücker Eisenwerk GmbH & Co. KG - Vendor overview
Exhibit 42: Erndtebrücker Eisenwerk GmbH & Co. KG - Organizational developments
Exhibit 43: Erndtebrücker Eisenwerk GmbH & Co. KG - Key offerings
Exhibit 44: General Electric Co. - Vendor overview
Exhibit 45: General Electric Co. - Business segments
Exhibit 46: General Electric Co. - Organizational developments
Exhibit 47: General Electric Co. - Geographic focus
Exhibit 48: General Electric Co. - Segment focus
Exhibit 49: General Electric Co. - Key offerings
Exhibit 50: MHI Vestas Offshore Wind AS - Vendor overview
Exhibit 51: MHI Vestas Offshore Wind AS - Organizational developments
Exhibit 52: MHI Vestas Offshore Wind AS - Key offerings
Exhibit 53: Nexans SA - Vendor overview
Exhibit 54: Nexans SA - Business segments
Exhibit 55: Nexans SA - Organizational developments
Exhibit 56: Nexans SA - Geographic focus
Exhibit 57: Nexans SA - Segment focus
Exhibit 58: Nexans SA - Key offerings
Exhibit 59: Siemens Gamesa Renewable Energy SA - Vendor overview
Exhibit 60: Siemens Gamesa Renewable Energy SA - Business segments
Exhibit 61: Siemens Gamesa Renewable Energy SA - Organizational developments
Exhibit 62: Siemens Gamesa Renewable Energy SA - Geographic focus
Exhibit 63: Siemens Gamesa Renewable Energy SA - Segment focus
Exhibit 64: Siemens Gamesa Renewable Energy SA - Key offerings
Exhibit 65: Validation techniques employed for market sizing
Exhibit 66: Definition of market positioning of vendors
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • General Electric Co.
  • Nexans SA
  • MORE
The following companies are recognised as the key players in the global offshore wind power market: Erndtebrücker Eisenwerk GmbH & Co. KG, General Electric Co., MHI Vestas Offshore Wind AS, Nexans SA, and Siemens Gamesa Renewable Energy SA.

Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the rising popularity of floating wind turbines.”

According to the report, one of the major drivers in this market is the declining LCOE of wind power generation.

Further, the report states that one of the major factors hindering the growth of this market is the high capital cost of offshore wind power projects.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Note: Product cover images may vary from those shown
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  • Erndtebrücker Eisenwerk GmbH & Co. KG
  • General Electric Co.
  • MHI Vestas Offshore Wind AS
  • Nexans SA
  • Siemens Gamesa Renewable Energy SA
Note: Product cover images may vary from those shown
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