Offshore Wind Market

Global Offshore Wind Market by Investment Feasibility, Sales, Production, Manufacturers, Regions and Forecast to 2022

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Offshore Wind Market size will surpass 60 GW by 2024, as reported in the latest study, according to a new research report.

Rising investment towards the development of clean energy sources from financial institutions including International Finance Corporation (IFC), Asian Development Bank (ADB) and the World Bank will upsurge the market share. The Government of UK has established the Offshore Wind Investment Organization (OWIO) to promote investments towards sustainable energy resource integration. The country has further acknowledged the green investment bank to raise and circulate funds across clean energy projects.

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Key players across the offshore wind market include Doosan Heavy Industries & Construction, Adwen, MHI vestas, Senvion, Sinovel Wind, and Siemens.

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High-end research initiatives to cater to the competitive energy industry through efficient and cost-effective technology will drive the market size. In 2017, German Federal Network Agency launched an offshore wind tender for 1.5 GW to lower the generation tariff. The government of Netherlands is also targeting to reduce the overall cost by 40% over the next decade. In 2017, Siemens and Statoil in collaboration have established a 30 MW floating wind farm across Norway under the “Hywind Scotland” project.

Wires and cables in 2016 accounted for over 2% of the offshore wind market revenue share. Expanding microgrid networks favored by advancing distributed generation technology will embellish the business landscape. In 2016, Belgium’s Tideway awarded USD 14.1 million contract to Prysmian for supplying 33 kV inter array submarine cables for a 309 MW power project.

China market is set to expand to over 12 GW by 2024. Clean energy capacity addition target accompanied by exponentially rising energy demand will uplift the industry size. Increasing government aided funds coupled with asset and financial leveraging facilities towards development of sustainable energy projects will further stimulate the business outlook. In 2017, State Power Investment Corporation announced its plan to develop 800 MW wind farm across coast of Yancheng and Jiangsu.

By Component (USD) 

Turbine, Floating, Tower, Rotor Blade, Others 

Support Structure 

Substructure(Steel), Foundation, Monopile, Jacket, Other 

Electrical Infrastructure

Wires & Cables, Substation, Others 

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Chapter 1.   Methodology and Scope

1.1.   Methodology 1.1.1.   Initial data exploration 1.1.2.   Statistical model and forecast 1.1.3.   Industry insights and validation

Chapter 2.   Executive Summary

2.1.  OFFSHORE WIND industry 3600 synopsis, 2014 – 2024

2.1.1.   Business trends

2.1.2.   Technology trends

2.1.3.   Capacity trends

2.1.4.   Regional trends

Chapter 3.   OFFSHORE WIND Market Industry Insights

3.1.  Industry segmentation

3.2. Industry landscape, 2013 – 2024

3.3. Industry ecosystem analysis

3.3.1.   Vendor matrix

3.4. Innovation & sustainability

3.5. Regulatory landscape 

Chapter 4.   OFFSHORE WIND Market, By Component

4.1.   Global market share by component, 2016 & 2024 4.2.   Turbine 4.2.1.   Turbine market, 2013 – 2024 4.2.2.   Turbine market capex by region, 2013 – 2024 4.2.3.   Floating    Floating market, 2013 – 2024    Floating market capex by region, 2013 – 2024    Tower

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