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Offshore Wind Turbine Market, By Installation Type (Fixed, Floating), By Turbine Capacity (Up to 3 MW, 3 MW to 5 MW, > 5 MW), By Region, Opportunity and Forecast, 2017-2027

Offshore Wind Turbine Market, By Installation Type (Fixed, Floating), By Turbine Capacity (Up to 3 MW, 3 MW to 5 MW, > 5 MW), By Region, Opportunity and Forecast, 2017-2027

Global offshore wind turbine market value was USD28.20 Billion in 2021, which is anticipated to grow with a CAGR of 13.75% during the forecast period, to achieve a market value of USD62.79 Billion by 2027. The market growth can be attributed to growing demands for power generation through renewable sources. Higher energy and power consumption in various industries to generate electricity also drives the global offshore wind turbine market's growth in the next five years. The availability of the advanced technology and turnkey solutions provided by various service providers also facilitates the growth of the global offshore wind turbine market in the next five years. Increasing investments and advancements have intrigued the government to focus on offshore power generation, thereby fueling the global offshore wind turbine market's growth in the next five years.
Wind turbines convert wind kinetic energy into electricity. These are also implemented in the water bodies to generate electricity using wind and water as a resource. When the wind turbines are implanted in the water sources, they are called offshore wind turbines. Wind turbine blades turn between 13 and 20 revolutions per minute, depending on technology, at a constant or variable velocity, with the rotor's velocity varying about the wind's velocity to achieve greater efficiency.
The global offshore wind turbine market is segmented by installation type, turbine capacity, regional distribution, and the competitive landscape. Based on installation type, the market is differentiated between fixed and floating. By turbine capacity, the market is bifurcated into up to 3 MW, 3 MW to 5 MW, and more than 5 MW. The market analysis also studies the regional segmentation divided among the Asia-Pacific, Europe, North American, Middle East & Africa, and South America. By installation type, the fixed installation type of offshore wind turbine is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the ground advantage of the fixed installation for a longer duration of the power generation process. Surging demand for the power and energy to generate electricity to facilitate various end-use sectors further supports the growth of the global offshore wind turbine market in the next five years.
Ørsted A/S, GE Renewable Energy, ABB Ltd., Vestas Wind Systems A/S, Siemens Gamesa, Schneider Electric SE, Nordex SE, Equinor ASA, Envision Group, Mingyang Smart Energy Group Co., Ltd, Xinjiang Goldwind Science & Technology Co., Ltd., Rockwell Automation Inc., Invenergy LLC and EDP Renewables North America LLC are among the major market players in the global offshore wind turbine market.

Years considered for this report:
Historical Years: 2017- 2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023 – 2027

Objective of the Study:
•To analyze the market size of global offshore wind turbine market from 2017 to 2021.
•To estimate and forecast the market size of global offshore wind turbine market from 2022 to 2027 and growth rate until 2027.
•To classify and forecast global offshore wind turbine market based on installation type, turbine capacity, regional distribution, and competitional landscape.
•To identify dominant region or segment in the global offshore wind turbine market.
•To identify drivers and challenges for global offshore wind turbine market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global offshore wind turbine market.
•To identify and analyze the profile of leading players operating in global offshore wind turbine market.
•To identify key sustainable strategies adopted by market players in global offshore wind turbine market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers & service providers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global offshore wind turbine market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:
•Manufacturers, suppliers, distributors, and other stakeholders
•Government bodies such as regulating authorities and policy makers
•Organizations, forums, and alliances related to offshore wind turbine
•Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:
In this report, global offshore wind turbine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Offshore Wind Turbine Market, By Installation Type:
oInstallation Type
oTurbine Capacity
•Offshore Wind Turbine Market, By Turbine Capacity:
oUp to 3 MW
o3 MW to 5 MW
o> 5 MW
•Offshore Wind Turbine Market, By Region:
oEurope
United Kingdom
Germany
Denmark
Netherlands
Belgium
Sweden
Finland
oAsia Pacific
China
Japan
Taiwan
South Korea
India
Vietnam
Australia
oNorth America
United States
Canada
Mexico
oSouth America
Argentina
Colombia
Brazil
oMiddle East & Africa
United Arab Emirates
Saudi Arabia
South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global offshore wind turbine market.

Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
•Detailed analysis and profiling of additional market players (up to five).
Table of Contents

1.Product Overview
2.Research Methodology
3.Executive Summary
4.Impact of COVID-19 on Global Offshore Wind Turbine Market
5.Voice of Customer
5.1. Brand Awareness
5.2. Factors Considered for Choosing Offshore wind turbine
5.3. Factors Considered for Choosing Offshore Wind Turbine Vendor
5.4.Major Challenges Related to Offshore wind turbine
6.Global Offshore Wind Turbine Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1.By Installation Type (Fixed, Floating)
6.2.2.By Turbine Capacity (Up to 3 MW, 3 MW to 5 MW, > 5 MW)
6.2.3.By Region (Europe, Asia-Pacific, North America, South America and MEA)
6.2.4.By Company (2021)
6.3. Market Map
7.Europe Offshore Wind Turbine Market Outlook
7.1.Market Size & Forecast
7.1.1.By Value
7.2.Market Share & Forecast
7.2.1.By Installation Type
7.2.2.By Turbine Capacity
7.2.3.By Country
7.3.Europe: Country Analysis
7.3.1.United Kingdom Offshore Wind Turbine Market Outlook
7.3.1.1.Market Size & Forecast
7.3.1.1.1.By Value
7.3.1.2.Market Share & Forecast
7.3.1.2.1.By Installation Type
7.3.1.2.2.By Turbine Capacity
7.3.2.Germany Offshore Wind Turbine Market Outlook
7.3.2.1.Market Size & Forecast
7.3.2.1.1.By Value
7.3.2.2.Market Share & Forecast
7.3.2.2.1.By Installation Type
7.3.2.2.2.By Turbine Capacity
7.3.3.Denmark Offshore Wind Turbine Market Outlook
7.3.3.1.Market Size & Forecast
7.3.3.1.1.By Value
7.3.3.2.Market Share & Forecast
7.3.3.2.1.By Installation Type
7.3.3.2.2.By Turbine Capacity
7.3.4.Netherlands Offshore Wind Turbine Market Outlook
7.3.4.1.Market Size & Forecast
7.3.4.1.1.By Value
7.3.4.2.Market Share & Forecast
7.3.4.2.1.By Installation Type
7.3.4.2.2.By Turbine Capacity
7.3.5.Belgium Offshore Wind Turbine Market Outlook
7.3.5.1.Market Size & Forecast
7.3.5.1.1.By Value
7.3.5.2.Market Share & Forecast
7.3.5.2.1.By Installation Type
7.3.5.2.2.By Turbine Capacity
7.3.6.Sweden Offshore Wind Turbine Market Outlook
7.3.6.1.Market Size & Forecast
7.3.6.1.1.By Value
7.3.6.2.Market Share & Forecast
7.3.6.2.1.By Installation Type
7.3.6.2.2.By Turbine Capacity
7.3.7.Finland Offshore Wind Turbine Market Outlook
7.3.7.1.Market Size & Forecast
7.3.7.1.1.By Value
7.3.7.2.Market Share & Forecast
7.3.7.2.1.By Installation Type
7.3.7.2.2.By Turbine Capacity
8.Asia-Pacific Offshore Wind Turbine Market Outlook
8.1.Market Size & Forecast
8.1.1.By Value
8.2.Market Share & Forecast
8.2.1.By Installation Type
8.2.2.By Turbine Capacity
8.2.3.By Country
8.3.Asia-Pacific: Country Analysis
8.3.1.China Offshore Wind Turbine Market Outlook
8.3.1.1.Market Size & Forecast
8.3.1.1.1.By Value
8.3.1.2.Market Share & Forecast
8.3.1.2.1.By Installation Type
8.3.1.2.2.By Turbine Capacity
8.3.2.Taiwan Offshore Wind Turbine Market Outlook
8.3.2.1.Market Size & Forecast
8.3.2.1.1.By Value
8.3.2.2.Market Share & Forecast
8.3.2.2.1.By Installation Type
8.3.2.2.2.By Turbine Capacity
8.3.3.Japan Offshore Wind Turbine Market Outlook
8.3.3.1.Market Size & Forecast
8.3.3.1.1.By Value
8.3.3.2.Market Share & Forecast
8.3.3.2.1.By Installation Type
8.3.3.2.2.By Turbine Capacity
8.3.4.South Korea Offshore Wind Turbine Market Outlook
8.3.4.1.Market Size & Forecast
8.3.4.1.1.By Value
8.3.4.2.Market Share & Forecast
8.3.4.2.1.By Installation Type
8.3.4.2.2.By Turbine Capacity
8.3.5.India Offshore Wind Turbine Market Outlook
8.3.5.1.Market Size & Forecast
8.3.5.1.1.By Value
8.3.5.2.Market Share & Forecast
8.3.5.2.1.By Installation Type
8.3.5.2.2.By Turbine Capacity
8.3.6.Vietnam Offshore Wind Turbine Market Outlook
8.3.6.1.Market Size & Forecast
8.3.6.1.1.By Value
8.3.6.2.Market Share & Forecast
8.3.6.2.1.By Installation Type
8.3.6.2.2.By Turbine Capacity
8.3.7.Australia Offshore Wind Turbine Market Outlook
8.3.7.1.Market Size & Forecast
8.3.7.1.1.By Value
8.3.7.2.Market Share & Forecast
8.3.7.2.1.By Installation Type
8.3.7.2.2.By Turbine Capacity
9.North America Offshore Wind Turbine Market Outlook
9.1.Market Size & Forecast
9.1.1.By Value
9.2.Market Share & Forecast
9.2.1.By Installation Type
9.2.2.By Turbine Capacity
9.2.3.By Country
9.3.North America: Country Analysis
9.3.1.United States Offshore Wind Turbine Market Outlook
9.3.1.1.Market Size & Forecast
9.3.1.1.1.By Value
9.3.1.2.Market Share & Forecast
9.3.1.2.1.By Installation Type
9.3.1.2.2.By Turbine Capacity
9.3.2.Canada Offshore Wind Turbine Market Outlook
9.3.2.1.Market Size & Forecast
9.3.2.1.1.By Value
9.3.2.2.Market Share & Forecast
9.3.2.2.1.By Installation Type
9.3.2.2.2.By Turbine Capacity
9.3.3.Mexico Offshore Wind Turbine Market Outlook
9.3.3.1.Market Size & Forecast
9.3.3.1.1.By Value
9.3.3.2.Market Share & Forecast
9.3.3.2.1.By Installation Type
9.3.3.2.2.By Turbine Capacity
10.South America Offshore Wind Turbine Market Outlook
10.1.Market Size & Forecast
10.1.1.By Value
10.2.Market Share & Forecast
10.2.1.By Installation Type
10.2.2.By Turbine Capacity
10.2.3.By Country
10.3.South America: Country Analysis
10.3.1.Brazil Offshore Wind Turbine Market Outlook
10.3.1.1.Market Size & Forecast
10.3.1.1.1.By Value
10.3.1.2.Market Share & Forecast
10.3.1.2.1.By Installation Type
10.3.1.2.2.By Turbine Capacity
10.3.2.Argentina Offshore Wind Turbine Market Outlook
10.3.2.1.Market Size & Forecast
10.3.2.1.1.By Value
10.3.2.2.Market Share & Forecast
10.3.2.2.1.By Installation Type
10.3.2.2.2.By Turbine Capacity
10.3.3.Colombia Offshore Wind Turbine Market Outlook
10.3.3.1.Market Size & Forecast
10.3.3.1.1.By Value
10.3.3.2.Market Share & Forecast
10.3.3.2.1.By Installation Type
10.3.3.2.2.By Turbine Capacity
11.Middle East and Africa Offshore Wind Turbine Market Outlook
11.1.Market Size & Forecast
11.1.1.By Value
11.2.Market Share & Forecast
11.2.1.By Installation Type
11.2.2.By Turbine Capacity
11.2.3.By Country
11.3.Middle East and Africa: Country Analysis
11.3.1.United Arab Emirates Offshore Wind Turbine Market Outlook
11.3.1.1.Market Size & Forecast
11.3.1.1.1.By Value
11.3.1.2.Market Share & Forecast
11.3.1.2.1.By Installation Type
11.3.1.2.2.By Turbine Capacity
11.3.2.Saudi Arabia Wind Turbine Market Outlook
11.3.2.1.Market Size & Forecast
11.3.2.1.1.By Value
11.3.2.2.Market Share & Forecast
11.3.2.2.1.By Installation Type
11.3.2.2.2.By Turbine Capacity
11.3.3.South Africa Offshore Wind Turbine Market Outlook
11.3.3.1.Market Size & Forecast
11.3.3.1.1.By Value
11.3.3.2.Market Share & Forecast
11.3.3.2.1.By Installation Type
11.3.3.2.2.By Turbine Capacity
12.Market Dynamics
12.1.Drivers
12.2.Challenges
13.Market Trends and Developments
14.Policy and Regulatory Landscape
15.Digital Solutions and Innovations for Wind Industry
16.Global Energy Consumption (By Region and By Segment)
17.Company Profiles
17.1.Company Profiles
17.1.1.Ørsted A/S
17.1.2.GE Renewable Energy
17.1.3.ABB Ltd.
17.1.4.Vestas Wind Systems A/S
17.1.5.Siemens Gamesa
17.1.6.Schneider Electric SE
17.1.7.Nordex SE
17.1.8.Equinor ASA
17.1.9.Envision Group
17.1.10.Mingyang Smart Energy Group Co., Ltd
17.1.11.Xinjiang Goldwind Science & Technology Co., Ltd.
17.1.12.Rockwell Automation Inc.
17.1.13.Invenergy LLC
17.1.14.EDP Renewables North America LLC
18.Strategic Recommendations

Report Title: Offshore Wind Turbine Market, By Installation Type (Fixed, Floating), By Turbine Capacity (Up to 3 MW, 3 MW to 5 MW, > 5 MW), By Region, Opportunity and Forecast, 2017-2027


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