Offshore Wind Energy Market Statistics, Segment, Trends and Forecast to 2032

The Global Offshore Wind Energy Market is valued at USD 31.2 Billion in the year 2021 and is projected to reach a value of USD 60.9 Billion by the year 2028, the market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 11.8% over the forecast period.

Offshore wind energy, often known as offshore wind energy, is the generation of wind energy using structures placed off the coast or on the continental shelf. Fixed-bottom wind turbines are used in coastal waters such as fjords, lakes, and protected coastal areas while floating wind turbines are used in deep sea.

Production access will be impacted by expanding offshore opportunities and the growth of a robust commercial and industrial sector. The offshore wind power market is expected to grow as a result of favorable government rules that raised investment in planned offshore wind power projects and reduced the cost of wind energy.

What are the Driving Factors of the Global Offshore Wind Energy Market?
Developing, emerging, and least-developed nations or economies are slow to accept new ideas and technologies for combating climate change. Rapid urbanization and industrialization have increased the need for time-, money-, and energy-efficient climate change solutions, which has compelled firms to prioritize equipment modernisation, energy efficiency, and greenhouse gas emission reduction.

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The market for offshore wind power is expected to develop as a result of increasing government commitments, technological breakthroughs, and rising worldwide investment in renewable energy. Aside from the growing use of electronic devices, another factor driving the expansion of the global electricity industry is the increased desire for smart cities.

Offshore Wind Energy Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Market Segmentation
Global Offshore Wind Energy Market: Major Players
Orsted
Nexans
Equinor
ABB
Siemens
Petrofac
General Electric
Areva Wind
Doosan Heavy Industries
EEW Group
Sinovel
Vestas Wind Systems
Suzlon
Goldwind Science and Technology
Senvion
MHI Vestas
China Ming Yang Wind Power

Global Offshore Wind Energy Market: By Types
Upto 1 MW
1-3 MW
3-5 MW
5 MW and Above

Global Offshore Wind Energy Market: By Applications
Shallow Water
Transitional Water
Deep Water

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Global Offshore Wind Energy Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Offshore Wind Energy market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Findings of the Global Offshore Wind Energy Market

• The industry is expanding as a result of rising demand from emerging economies to combat climate change.

• The preferred supplier for the 1,044 MW Hai Long offshore wind projects in Taiwan has been identified as Siemens Gamesa.

• The third and final stages of the Dogger Bank offshore wind farm's turbine supply, service, and warranty contracts have been finalized, according to GE Renewable Energy's announcement.

• The offshore wind energy industry was dominated by Europe in 2021 and will remain so during the projection period. Due to government initiatives to support this industry in this area, there are a sizable number of offshore wind energy enterprises in this area, and adoption rates are strong.

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