Offshore Wind Market: Size & Forecast with Impact Analysis of COVID-19 (2020-2024)

Table of Contents

1. Executive Summary

2. Introduction
2.1 Wind Energy: An Overview
2.2 Onshore Wind Energy: An Overview
2.3 Offshore Wind Energy: An Overview
2.4 Functioning of Offshore Wind Farm
2.5 Advantages & Disadvantages of Offshore Wind

3. Global Market Analysis
3.1 Global Offshore Wind Market: An Analysis
3.1.1 Global Offshore Wind Market by Value
3.1.2 Global Offshore Wind Market Production Capacity
3.1.3 Global Offshore Wind Market Production Capacity by Region (Europe, Asia Pacific and the US)
3.1.4 Global Offshore Wind Market Expenditure by Value
3.1.5 Global Offshore Wind Market by Expenditure (Turbine, Project Development, Foundation, Insurance & Contingency, Transmission Install, Transmission, Foundation Install, Array Electrification, Array Cable Install, Turbine Install, and Other)
3.1.6 Global Offshore Wind Expenditure Market by Region

4. Regional Market Analysis
4.1 Europe Offshore Wind Market: An Analysis
4.1.1 Europe Offshore Wind Market Production Capacity
4.1.2 Europe Offshore Wind Market Production Capacity by Country
4.1.3 UK Offshore Wind Market Production Capacity
4.1.4 Germany Offshore Wind Market Production Capacity
4.1.5 Denmark Offshore Wind Market Production Capacity
4.1.6 Belgium Offshore Wind Market Production Capacity
4.1.7 Netherlands Offshore Wind Market Production Capacity
4.1.8 Europe Offshore Wind Market Expenditure by Value
4.1.9 Europe Offshore Wind Market by Expenditure
4.2 Asia Pacific Offshore Wind Market: An Analysis
4.2.1 Asia Pacific Offshore Wind Market Production Capacity
4.2.2 Asia Pacific Offshore Wind Market Production Capacity by Country
4.2.3 China Offshore Wind Market Production Capacity
4.2.4 Taiwan Offshore Wind Market Production Capacity
4.2.5 South Korea Offshore Wind Market Production Capacity
4.2.6 Japan Offshore Wind Market Production Capacity
4.2.7 Asia Pacific Offshore Wind Market Expenditure by Value
4.2.8 Asia Pacific Offshore Wind Market by Expenditure
4.3 The US Offshore Wind Market: An Analysis
4.3.1 The US Offshore Wind Production Capacity
4.3.2 The US Offshore Wind Market Expenditure by Value
4.3.3 The US Offshore Wind Market by Expenditure

5. COVID-19
5.1 Impact of Covid-19
5.2 Economic Impact of Covid-19
5.2.1 Impact on GDP Growth
5.3 Regional Impact of Covid-19
5.3.2 Impact on UK Wind Annual Installed Capacity
5.4 Variation in Organic Traffic due to COVID-19 (2020)

6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rising Urbanization
6.1.2 Surging Consumer Awareness
6.1.3 Rise in Carbon Emission
6.1.4 Growing Demand for Energy Optimization
6.1.5 Increasing Initiative to Save Environment
6.2 Challenges
6.2.1 Operational Risk
6.2.2 Regulatory & Political Risk
6.3 Market Trends
6.3.1 Evolution of Floating Wind Turbine Technology
6.3.2 Decline in Fossil Fuel
6.3.3 Government Initiatives and Regulations

7. Competitive Landscape
7.1 Global Offshore Wind Market Players: A Financial Comparison
7.2 Global Offshore Wind Market Players’ by Installed Offshore Wind Capacity

8. Company Profiles
8.1 Orsted
8.1.1 Business Overview
8.1.2 Financial Overview
8.1.3 Business Strategy
8.2 RWE AG
8.2.1 Business Overview
8.2.2 Financial Overview
8.2.3 Business Strategy
8.3 Vattenfall
8.3.1 Business Overview
8.3.2 Financial Overview
8.3.3 Business Strategy
8.4 Iberdrola
8.4.1 Business Overview
8.4.2 Financial Overview
8.4.3 Business Strategy

List of Figures

Figure 1: Benefits of Wind Energy
Figure 2: Pros and Cons of Onshore Wind
Figure 3: Functioning of Offshore Wind Farm
Figure 4: Advantages & Disadvantages of Offshore Wind
Figure 5: Global Offshore Wind Market by Value; 2018-2019 (US$ Billion)
Figure 6: Global Offshore Wind Market by Value; 2020-2024 (US$ Billion)
Figure 7: Global Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 8: Global Offshore Wind Market Production Capacity by Region; 2019-2024 (Percentage, %)
Figure 9: Global Offshore Wind Market by Expenditure; 2020 (Percentage, %)
Figure 10: Global Offshore Wind Expenditure Market by Region; 2020-2024 (Percentage, %)
Figure 11: Europe Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 12: Europe Offshore Wind Market Production Capacity by Country; 2019 (Percentage, %)
Figure 13: UK Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 14: Germany Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 15: Denmark Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 16: Belgium Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 17: Netherlands Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 18: Europe Offshore Wind Market by Expenditure; 2020 (Percentage, %)
Figure 19: Asia Pacific Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 20: Asia Pacific Offshore Wind Market Production Capacity by Country; 2019 (Percentage, %)
Figure 21: China Offshore Wind Market Production Capacity; 2019-2024 (Gigawatt)
Figure 22: Taiwan Offshore Wind Market Production Capacity; 2019-2024 (Megawatt)
Figure 23: South Korea Offshore Wind Market Production Capacity; 2019-2024 (Megawatt)
Figure 24: Japan Offshore Wind Market Production Capacity; 2019-2024 (Megawatt)
Figure 25: Asia Pacific Offshore Wind Market by Expenditure; 2020 (Percentage, %)
Figure 26: The US Offshore Wind Market Production Capacity; 2019-2024 (Megawatt)
Figure 27: The US Offshore Wind Market by Expenditure; 2020 (Percentage, %)
Figure 28: Developed Countries GDP Growth; 2019-2021 (Percentage, %)
Figure 29: UK Wind Annual Installed Capacity; 2019-2020 (Gigawatt)
Figure 30: Variation in Organic Traffic due to COVID-19 (2020)
Figure 31: Global Urban Population; 1990-2050 (Percentage, %)
Figure 32: Global Literacy Rate; 2014-2019 (Percentage, %)
Figure 33: Global Carbon Dioxide Emission; 2015-2040 (Billion Metric Tons)
Figure 34: Global Energy Consumption by Energy Sources; 2010-2040 (Quadrillion Btu)
Figure 35: Global Floating Wind Power Market; 2019-2024 (US$ Billion)
Figure 36: Global Share of Fossil Fuel in Primary Energy; 2010-2080 (Percentage, %)
Figure 37: Global Offshore Wind Market Players’ by Installed Offshore Wind Capacity, 2020 (Percentage, %)
Figure 38: Orsted Revenue; 2015-2019 (US$ Billion)
Figure 39: Orsted Revenue by Segment; 2019 (Percentage, %)
Figure 40: Orsted Revenue by Region; 2019 (Percentage, %)
Figure 41: RWE AG Revenue; 2015-2019 (US$ Billion)
Figure 42: RWE AG Revenue by Segment; 2019 (Percentage, %)
Figure 43: RWE AG Revenue by Region; 2019 (Percentage, %)
Figure 44: Vattenfall Net Sales; 2015-2019 (US$ Billion)
Figure 45: Vattenfall Net Sales by Segment; 2019 (Percentage, %)
Figure 46: Vattenfall Net Sales by Country; 2019 (Percentage, %)
Figure 47: Iberdrola Revenue; 2015-2019 (US$ Billion)
Figure 48: Iberdrola Revenue by Region; 2019 (Percentage, %)

List of Tables

Table 1: Global Offshore Wind Market by Expenditure; 2020-2024 (US$ Billion)
Table 2: Europe Offshore Wind Market by Expenditure; 2020-2024 (US$ Billion)
Table 3: Asia Pacific Offshore Wind Market by Expenditure; 2020-2024 (US$ Billion)
Table 4: The US Offshore Wind Market by Expenditure; 2020-2024 (US$ Billion)
Table 5: Global Offshore Wind Market Players: A Financial Comparison; 2019

Executive Summary

The global offshore wind market has observed progressive growth in the past few years and it is anticipated that during the forecasted period (2020-2024) the market would further upsurge at an escalating growth rate. The global offshore wind market growth is predicted to be supported by numerous growth drivers such as rising urbanization, surging consumer awareness, rise in Co2 emission, growing demand for energy optimization, increasing initiative to save the environment and many other factors.

However, the growth of the global offshore wind market would be negatively impacted by various challenges. Some of the foremost challenges faced by the market are operational risk and regulatory and political risk. Moreover, there are some trends that would support the market during the forecasted period like, the evolution of floating wind turbine technology, the decline in fossil fuel and government initiative and regulations.

Companies Mentioned

• Iberdrola
• Orsted
• RWE AG
• Vattenfall