Offshore Wind Energy Market Detailed Analysis with Forecast 2019-2025 by Global Top Players - Sinovel Wind Group, Ronniewell Machinery Equipment, GE Energy, Siemens Wind Power, Vestas, Senvion SE, Acciona, Enel Green Power, ENGIE, Vattenfall, Ørsted A/S,

Adroit Market Research offers 2019 report on “Offshore Wind Energy Market 2025” that evaluates industry growth trends through historical data and estimates future prospects based on comprehensive research. The report extensively provides the market share, growth, trends and forecasts for the period 2019-2025.

About the Offshore Wind Energy Market:

Wind power is obtained by harnessing the kinetic energy created by the air in motion and then transforming it into electrical energy. This is done using wind turbines or wind energy conversion systems. The inception of wind turbines was around a decade ago following the invention of electrical generators in the 1930s. Wind power generation happened in the UK and United States in 1887 and 1888, but the modern wind power was first developed in Denmark in 1891. The global energy system is disrupted by renewable energy sources assisted by the tremendous fall in the cost of generation of electricity from these sources. The decline in average LCOE from onshore wind by 23% from 2010 to 2017 demonstrates the unprecedented cost fall in wind power generation technologies.

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Offshore Wind Energy Market Competition by TOP PLAYERS, with Offshore Wind Energy sales volume, price, revenue (Million USD) and market share for each manufacturer/player; the top players including: Sinovel Wind Group, Ronniewell Machinery Equipment, GE Energy, Siemens Wind Power, Vestas, Senvion SE, Acciona, Enel Green Power, ENGIE, Vattenfall, Ørsted A/S, NRG Energy

Scope of the Report (Overlook 2019-2025):

The global wind energy market size is estimated to reach up to USD 320.61 billion by 2025 driven by the declining cost of electricity generation, thereby facilitating a high rate of wind capacity installation globally. The presence of a large base of experienced and internationally active project developers is another prime factor accelerating the development of wind technologies.

The wind energy market growth is primarily accelerated by the rising number of wind farm installation both offshore and onshore. The global wind energy market analysis indicates the dominance of onshore capacity installation and also estimates the sustained dominance during the forecast period. Global onshore wind energy installations stood at over 90% in 2017, as the cost reduction for every doubling of cumulative capacity is estimated to be around 21%. This cost advantage has prompted heavy investment into the onshore wind installation projects. However, during the forecast period, the offshore wind installation are expected to maintain a higher CAGR owing to the policy support, technology advances and a rapidly maturing supply chain. This is turning offshore wind an increasingly viable option for harnessing the more consistent and higher wind speeds available offshore.

The wind energy market size on the basis of geography, is headed by the Asia Pacific, recording the highest number of wind capacity installations in 2017. With approximately 80%, China had the highest share of wind capacity installations in 2017. The high growth rate of installations in India making it the fourth largest country globally is also a primary driver of the dominance of this region. However, Middle East and Africa are expected maintain the fastest growth on account of support of wind remarkable wind resources and efficiency across value chain, resulting in gradual reduction in the levelized cost of energy (LCOE) of wind power across the region.

The global wind energy market is fragmented in nature with the presence of a large number of global and regional players. Acciona, Enel Green Power, ENGIE, Vattenfall, Ørsted A/S, and NRG Energy, Inc. are some of the major players in the global wind energy market. These players own large wind farms and invest heavily in setting up new wind farms or acquiring a stake in local wind farms with a view to increasing their power generation capacity. For instance, in February 2018, Enel, acting through its Spanish subsidiary Endesa’s local renewable energies company Enel Green Power España (EGPE), has signed an agreement for the acquisition of 100% of Parques Eolicos Gestinver, S.L., a company owning five wind farms totaling around 132 MW of capacity, from Spanish companies Elawan Energy and Genera Avante for a total consideration of 178 million euros. Following the acquisition, EGPE’s installed capacity in Spain increased to more than 1,806 MW of which 1,749 MW from wind power, equivalent to almost 8% of total installed wind capacity in Spain, 43 MW from small hydro, and 14 MW from other renewable sources.

Key segments of the global wind energy market

Installation Type Overview, 2015-2025 (GW) (USD million)
• Onshore Installation
• Offshore Installation

Turbine Size Overview, 2015-2025 (GW) (USD million)
• Small Wind
• Large Wind

Turbine Type Overview, 2015-2025 (GW) (USD million)
• Horizontal Axis
• Vertical Axis

What Information does this report contain?

• Historical data coverage: 2014 to 2017; Growth Projections: 2019 to 2025.
• Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
• 6-7 year performance forecasts: major segments covering applications, top products and geographies.
• Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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