Press Release

Europe Offshore Wind Turbine Market is Dominated by Fixed Installation Type Segment Until 2028

Rising technological advancements and increasing green hydrogen production is likely to propel the Europe offshore wind turbine market in the forecast period 2024- 2028.


According to TechSci Research report, “Europe Offshore Wind Turbine Market –By Country, Competition, Forecast and Opportunities, 2028”, the Europe Offshore Wind Turbine Market is anticipated to register a robust growth during the forecast period, 2024-2028. The major market industries are concentrating on increasing the production of energy from renewable resources, including wind and solar power, for the reduction of harmful emissions as environmental concerns grow. To increase the effectiveness of the operation and the product portfolio, the major market players are managed to create budget for projects and R&D operations. Many ongoing projects using cutting-edge technology are anticipated to improve the infrastructure of current projects, which is anticipated to accelerate the growth of the Europe Offshore Wind Turbine Market over the course of the projected period.


Huge capital investments and high maintenance cost are the major restraints of the market, which leads to the decline of profit. Issues related to logistics are another major hurdle in the growth of the market. Offshore wind turbines are responsible for the harsh marine environment and its more favorable feature like high speeds is considered as a negative factor for the growth of the Europe Offshore Wind Turbine Market. The rectification of issues is expensive in terms of transportation, logistics, and maintenance. All these factors are the major challenges that are likely to hinder the Europe Offshore Wind Turbine Market growth.


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Europe Offshore Wind Turbine Market is segmented into installation type, turbine capacity, and country. Based on installation type, the market is segmented into fixed and floating. Based on turbine capacity, the market is segmented into up to 3 MW, 3 MW to 5 MW, > 5 MW.


Based on installation type, fixed segment is dominating in the Europe Offshore Wind Turbine Market because fixed installation type provides better strength and durability and can be installed far from shore, which is expected to drive the segment further in the foreseeable future. Additionally, various research & developments are on the go in the Europe Offshore Wind Turbine Market to incorporate technologies such as the Internet of things (IoT) in fixed offshore wind turbines to increase sales and make purchases more affordable.


Based on turbine capacity, >5MW is dominating in the Europe Offshore Wind Turbine Market because offshore wind turbine with exhibiting power >5MW is majorly used for heavy industrial applications and power generation, including chemical, pharmaceutical, and other heavy industries. In addition, large-scale wind farms are used to provide power supply to various utilities through grid support and these wind farms installations are of capacity >5MW.


Major market players operating in the Europe offshore wind turbine market are:

  •     Schneider Electric SE
  •     Nordex SE
  •     Equinor ASA
  •     Siemens Gamesa Renewable Energy
  •     Vestas Wind Systems A/S
  •     GE Renewable Energy
  •     Enercon GmbH
  •     Goldwind Science & Technology Co.,Ltd
  •     Orsted A/S
  •     ABB Ltd.


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“Due to the rising demand for clean energy and the increased attention being paid to lowering carbon emissions and encouraging environmental conservation, the market for offshore wind turbines in Europe is anticipated to grow significantly over the course of the projected period. Since European nations like France and Germany have been pioneers in offshore wind technology and offshore wind farm development, offshore wind turbines are being constructed quickly and are exhibiting robust growth. The "European Wind Initiative," a program for wind energy research and development, which was created to advance the wind sector in Europe, supports the development of offshore wind energy. Thus, such efforts to modernize power generation and electrical infrastructure are projected to increase demand for offshore wind turbines.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.


“Europe Offshore Wind Turbine Market By Installation Type (Fixed, Floating), By Turbine Capacity (Up to 3 MW, 3 MW to 5 MW, > 5 MW), By country, CompetitionForecast and Opportunities, 2028”,
has evaluated the future growth potential of Europe Offshore Wind Turbine Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Europe offshore wind turbine market.


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Europe Offshore Wind Turbine Market Segmented By Installation Type (Fixed, Floating), By Turbine Capacity (Up to 3 MW, 3 MW to 5 MW, > 5 MW), By Country, Competition Forecast and Opportunities, 2028

Power | Jul, 2023

Rising technological advancements and increasing green hydrogen production is likely to propel the Europe Offshore Wind Turbine Market in the forecast period 2024-2028.

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