Offshore Wind Turbine Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027, Segmented By Installation Type (Fixed, Floating), By Turbine Capacity (Up to 3 MW, 3 MW to 5 MW, > 5 MW), By Region

  • Industry : Power
  • Pages : 184
  • Published Date : June, 2022
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Report Description

Report Description

Global offshore wind turbine market was valued at USD28.20 billion in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 13.75% due to high investment and development in the power industry.

A wind turbine is a device that converts wind kinetic energy into electricity. Wind turbines are implemented in water bodies to generate electricity from the wind over open water, 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. Further, owing to the larger structures and complex logistics of installing the towers, offshore wind turbines are capital-intensive and are significantly more expensive to build than onshore wind farms. The data collected by the vane and anemometer positioned at the top automatically aligns the wind turbine to fully use the wind's kinetic energy.

Adoption of Sustainable Development Driving Market Growth

Rising concerns about climate change encourage individuals, commercial and government setups to adopt alternatives that generate cleaner energy with no or lesser carbon emissions. Offshore wind turbines harness wind energy and convert mechanical energy into electrical energy. In the complete process, no carbon emission is recorded; thus, energy generation from wind turbines is deemed a cleaner fuel. Thus, the energy produced through offshore wind turbines acts as a catalyst to promote sustainable development and fulfill future generation demands.

Increasing Investments in Renewable Energy Boosting Market Demand

The demand for oil and gas firms to adjust their investment plans to the requirements of clean energy transitions is intensifying. This includes agreements to minimize oil and gas emissions or invest in new sectors such as clean power or sustainable fuels. Innovation in the energy business is nothing new; energy use has evolved throughout history. Recent evidence of this trend in the United States includes a loss in coal use and a decrease in oil demand, while renewable sources such as wind, solar, geothermal, and hydropower have gained market share. The U.S. Energy Information Administration (EIA) projects that renewable energy is expected to account for 28% of the world's energy consumption by 2050, up from 15% in 2018. Thus, global emphasis on renewable energy is expected to boost the global offshore wind turbine market.

R&D in Offshore Wind Turbines and Power Industry

Over the years, industry professionals have collaborated to reduce the entire capital expenditure connected with offshore wind farms and optimize manufacturing efficiency to realize economies of scale. The major firms in the worldwide offshore wind turbine market are doing research and development related to the increasing size of turbine blades, which would increase the efficiency of wind turbines. The increasing size of the wind turbine blade enhances the power production capacity of each wind turbine. It minimizes the total number of wind turbines required to achieve the desired energy output from a wind farm. Increasing the wind turbine size may decrease the project's total capital cost. Another instance reflecting an emphasis on R&D is the U.S. Department of Energy (DOE) approved USD20.5 million for collaboration to perform research and development (R&D) to solve technology impediments and reduce offshore wind costs and hazards in the United States. The National Offshore Wind Research and Development Consortium is a non-profit public-private partnership dedicated to advancing offshore wind technology in the United States through high-impact research projects and cost-effective and responsible development that maximizes economic benefits.

Green Hydrogen Production

The offshore wind turbine is utilized to produce environmentally friendly hydrogen. In several projects, the offshore wind turbine produces environmentally friendly hydrogen. For example, as part of the AquaVentus/AquaDuctus project, Shell, Gasunie, RWE, CASCADE, Equinor, Ørsted, and Boskalis use 10 gigawatts (GW) of offshore wind energy to make green hydrogen, which is intended to bring to Europe via pipeline. It is projected that a growing preference for environmentally friendly hydrogen will drive the market for offshore wind turbines. The growing interest in environmentally friendly forms of energy has put pressure on governments and energy businesses (mainly oil and gas companies) to give serious thought to alternative forms of power that are both environmentally friendly and efficient in terms of energy use.


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Market Segmentation

The global offshore wind turbine market is segmented based on installation type, turbine capacity, region and by company. Based on installation type, the market is further fragmented into fixed and floating. Based on turbine capacity, the market is segmented into Up to 3 MW, 3 MW to 5 MW, and > 5 MW. The market analysis also studies the regional segmentation divided among the Asia-Pacific, Europe, North American, Middle East & African, and South America. The Europe offshore wind turbine market stood at USD14.20 billion in the year 2021 and is projected to grow at a CAGR of 13.05% during the forecast period.  While the United States offshore wind turbine market stood at USD2.89 billion in the year 2021 and is projected to grow at a CAGR of 10.33% during the forecast period.

Company Profiles

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.

Attribute

Details

Market size value in 2021

USD28.20 Billion

Revenue Forecast in 2027

USD62.79 Billion

United States Market size value in 2021

USD2.89 Billion

Growth Rate

13.75%

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Billion, and CAGR for 2017-2021 and 2022E-2027F

Report Coverage

·         Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Installation Type

·         Turbine Capacity

Regional Scope

Europe; Asia-Pacific; North America; South America; Middle East & Africa

Country Scope

United Kingdom; Germany; Denmark; Netherlands; Belgium; Sweden; Finland; China; Japan; Taiwan; South Korea; India; Vietnam; Australia; United States; Canada; Mexico; Argentina; Colombia; Brazil; United Arab Emirates; Saudi Arabia; South Africa

Key Companies Profiled

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; EDP Renewables North America LLC

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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:
    • Installation Type
    • Turbine Capacity
  • Offshore Wind Turbine Market, By Turbine Capacity:
    • Up to 3 MW
    • 3 MW to 5 MW
    • > 5 MW

·         Offshore Wind Turbine Market, By Region:

    • Europe
      • United Kingdom
      • Germany
      • Denmark
      • Netherlands
      • Belgium
      • Sweden
      • Finland
    • Asia Pacific
      • China
      • Japan
      • Taiwan
      • South Korea
      • India
      • Vietnam
      • Australia
    • North America
      • United States
      • Canada
      • Mexico
    • South America
      • Argentina
      • Colombia
      • Brazil
    • Middle 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 content

Table of content

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

Figures and Tables

List of Figures:

Figure 1.              Global Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 2.              Cumulative Number of Global Offshore Wind Turbines

Figure 3.              Global Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 4.              Global Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 5.              Global Offshore Wind Turbine Market Share, By Region, By Value, 2017-2027F

Figure 6.              Global Offshore Wind Turbine Market Share, By Company, By Value, 2021

Figure 7.              Global Offshore Wind Turbine Market Map, By Installation Type, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 8.              Global Offshore Wind Turbine Market Map, By Turbine Capacity, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 9.              Global Offshore Wind Turbine Market Map, By Region, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 10.            Europe Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 11.            Cumulative Number of Europe Offshore Wind Turbines

Figure 12.            Europe Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 13.            Europe Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 14.            Europe Offshore Wind Turbine Market Share, By Country, By Value, 2017-2027F

Figure 15.            United Kingdom Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 16.            Cumulative Number of United Kingdom Offshore Wind Turbines

Figure 17.            United Kingdom Wind Capacity (in Gigawatts), 2017-2020

Figure 18.            United Kingdom Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 19.            United Kingdom Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 20.            Germany Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 21.            Cumulative Number of Germany Offshore Wind Turbines

Figure 22.            Germany Wind Capacity (in Gigawatts), 2017-2020

Figure 23.            Germany Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 24.            Germany Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 25.            Denmark Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 26.            Cumulative Number of Denmark Offshore Wind Turbines

Figure 27.            Denmark Wind Capacity (in Gigawatts), 2017-2020

Figure 28.            Denmark Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 29.            Denmark Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 30.            Netherlands Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 31.            Cumulative Number of Netherlands Offshore Wind Turbines

Figure 32.            Netherlands Wind Capacity (in Gigawatts), 2017-2020

Figure 33.            Netherlands Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 34.            Netherlands Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 35.            Belgium Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 36.            Cumulative Number of Belgium Offshore Wind Turbines

Figure 37.            Belgium Wind Capacity (in Gigawatts), 2017-2020

Figure 38.            Belgium Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 39.            Belgium Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 40.            Sweden Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 41.            Cumulative Number of Sweden Offshore Wind Turbines

Figure 42.            Sweden Wind Capacity (in Gigawatts), 2017-2020

Figure 43.            Sweden Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 44.            Sweden Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 45.            Finland Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 46.            Cumulative Number of Finland Offshore Wind Turbines

Figure 47.            Finland Wind Capacity (in Gigawatts), 2017-2020

Figure 48.            Finland Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 49.            Finland Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 50.            Asia-Pacific Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 51.            Cumulative Number of Asia-Pacific Offshore Wind Turbines

Figure 52.            Asia-Pacific Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 53.            Asia-Pacific Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 54.            Asia-Pacific Offshore Wind Turbine Market Share, By Country, By Value, 2017-2027F

Figure 55.            China Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 56.            Cumulative Number of China Offshore Wind Turbines

Figure 57.            China Wind Capacity (in Gigawatts), 2017-2020

Figure 58.            China Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 59.            China Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 60.            Taiwan Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 61.            Cumulative Number of Taiwan Offshore Wind Turbines

Figure 62.            Taiwan Renewables Power Generation (Terawatt-hours), 2017-2020

Figure 63.            Taiwan Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 64.            Taiwan Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 65.            Japan Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 66.            Cumulative Number of Japan Offshore Wind Turbines

Figure 67.            Japan Wind Capacity (in Gigawatts), 2017-2020

Figure 68.            Japan Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 69.            Japan Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 70.            South Korea Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 71.            Cumulative Number of South Korea Offshore Wind Turbines

Figure 72.            South Korea Wind Capacity (in Gigawatts), 2017-2020

Figure 73.            South Korea Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 74.            South Korea Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 75.            India Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 76.            Cumulative Number of India Offshore Wind Turbines

Figure 77.            India Wind Capacity (in Gigawatts), 2017-2020

Figure 78.            India Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 79.            India Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 80.            Vietnam Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 81.            Cumulative Number of Vietnam Offshore Wind Turbines

Figure 82.            Vietnam Renewables Power Generation (Terawatt-hours), 2017-2020

Figure 83.            Vietnam Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 84.            Vietnam Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 85.            Australia Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 86.            Cumulative Number of Australia Offshore Wind Turbines

Figure 87.            Australia Wind Capacity (in Gigawatts), 2017-2020

Figure 88.            Australia Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 89.            Australia Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 90.            North America Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 91.            Cumulative Number of North America Offshore Wind Turbines

Figure 92.            North America Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 93.            North America Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 94.            North America Offshore Wind Turbine Market Share, By Country, By Value, 2017-2027F

Figure 95.            United States Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 96.            Cumulative Number of United States Offshore Wind Turbines

Figure 97.            United States Wind Capacity (in Gigawatts), 2017-2020

Figure 98.            United States Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 99.            United States Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 100.         Canada Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 101.         Cumulative Number of Canada Offshore Wind Turbines

Figure 102.         Canada Wind Capacity (in Gigawatts), 2017-2020

Figure 103.         Canada Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 104.         Canada Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 105.         Mexico Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 106.         Cumulative Number of Mexico Offshore Wind Turbines

Figure 107.         Mexico Wind Capacity (in Gigawatts), 2017-2020

Figure 108.         Mexico Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 109.         Mexico Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 110.         South America Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 111.         Cumulative Number of South America Offshore Wind Turbines

Figure 112.         South America Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 113.         South America Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 114.         South America Offshore Wind Turbine Market Share, By Country, By Value, 2017-2027F

Figure 115.         Brazil Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 116.         Cumulative Number of Brazil Offshore Wind Turbines

Figure 117.         Brazil Wind Capacity (in Gigawatts), 2017-2020

Figure 118.         Brazil Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 119.         Brazil Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 120.         Argentina Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 121.         Cumulative Number of Argentina Offshore Wind Turbines

Figure 122.         Argentina Wind Capacity (in Gigawatts), 2017-2020

Figure 123.         Argentina Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 124.         Argentina Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 125.         Colombia Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 126.         Cumulative Number of Colombia Offshore Wind Turbines

Figure 127.         Colombia Renewables Power Generation (Terawatt-hours), 2017-2020

Figure 128.         Colombia Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 129.         Colombia Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 130.         Middle East & Africa Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 131.         Cumulative Number of Middle East & Africa Offshore Wind Turbines

Figure 132.         Middle East & Africa Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 133.         Middle East & Africa Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 134.         Middle East & Africa Offshore Wind Turbine Market Share, By Country, By Value, 2017-2027F

Figure 135.         UAE Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 136.         Cumulative Number of UAE Offshore Wind Turbines

Figure 137.         UAE Renewables Power Generation (Terawatt-hours), 2017-2020

Figure 138.         UAE Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 139.         UAE Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 140.         Saudi Arabia Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 141.         Cumulative Number of Saudi Arabia Offshore Wind Turbines

Figure 142.         Saudi Arabia Renewables Power Generation (Terawatt-hours), 2017-2020

Figure 143.         Saudi Arabia Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

Figure 144.         Saudi Arabia Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F

Figure 145.         South Africa Offshore Wind Turbine Market Size, By Value (USD Billion), 2017-2027F

Figure 146.         Cumulative Number of South Africa Offshore Wind Turbines

Figure 147.         South Africa Renewables Power Generation (Terawatt-hours), 2017-2020

Figure 148.         South Africa Offshore Wind Turbine Market Share, By Installation Type, By Value, 2017-2027F

South Africa Offshore Wind Turbine Market Share, By Turbine Capacity, By Value, 2017-2027F
Frequently asked questions

Frequently asked questions

The market size of the global offshore wind turbine market was estimated to be USD28.20 billion in 2021.

Fixed offshore wind turbine is widely used to generate electricity and therefore the fixed type in installation type segment held the largest market share of 77.10% in 2021.

Europe is the dominating region in the global offshore wind turbine market with a CAGR of 13.05% during the forecast period owing to the investments from the government and emphasis over sustainable development.

Increasing investments into renewable alternatives and rising electricity demand are the major drivers for the Global Offshore Wind Turbine Market.

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