Offshore Wind Turbine Market: By Location,  By Foundation,  By Capacity,  By End-User and Region Forecast 2019-2030

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Offshore Wind Turbine Market Size, Share, Growth, Trends, and Global Industry Analysis: By Location (Shallow Water, Deep Water),  By Foundation (Floating, Fixed, Monopile, Tripod, Gravity base, Jacket, Others),  By Capacity (Less than 5MW, 5MW - 10 MW, More than 10 MW),  By End-User (Residential, Commercial) and Region Forecast 2019-2030

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Offshore Wind Turbine Market size was valued at US$ 21,441.8 million in 2023 and is poised to grow at a 8.3% from 2024 to 2030. The global market provides a detailed overview of the global Offshore Wind Turbines market, and that can be segmented by Location, Foundation, Capacity, and end user. By Location, the global market has been segmented into Shallow Water and deep water. The shallow water Offshore Wind Turbines segment is likely to be the largest and fastest-growing segment in terms of location.

Based on the foundation, the global Offshore Wind Turbines market is segmented into Floating, Fixed, Monopile, Tripod, Gravity base, Jacket, and Others. Among these, the floating segment is expected to have the fastest-growing market during the forecast period. Based on capacity, the global Offshore Wind Turbines market is segmented into Less than 5MW, 5MW-10 MW, and More than 10 MW. The 5MW-10 MW segment accounts for the largest share in 2021. The 5MW segment is the second-largest share during the forecast period 2022-2028. Based on end users, the global Offshore Wind Turbines market is segmented into Residential and Commercial Greenhouse. The Commercial segment accounts for the largest share in 2022.

Key Developments

  • In January 2022, Repower Renewable revealed its decision to invest roughly EUR 1.5 billion in constructing a 495 MW floating offshore wind farm in Italy. The project will include 33 wind turbines, each having a 15 MW capacity, mounted on floating foundations.
  • In Nov 2021, the UK government announced that the Scottish and Welsh governments will receive US$ 218 million in assistance from the United Kingdom government to construct floating offshore wind ports.

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Offshore Wind Turbine Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

8.3%

Largest Market

Asia Pacific

Fastest Growing Market

Europe

Offshore Wind Turbine Market Dynamics

Due to growing environmental concerns, the major market sectors are concentrating on increasing the generation of energy from renewable resources, such as wind and solar power, in order to reduce harmful emissions. To increase the effectiveness of the operation and the product portfolio, the major market players are managed to create a fantastic budget for projects and R&D activities. Numerous ongoing projects that feature cutting-edge technology are predicted to improve the infrastructure of current projects, which will likely accelerate the expansion of the offshore wind turbine market globally throughout the course of the projected period.

Offshore Wind Turbine Market Segmentation Analysis

Report Benchmarks

Details

Report Study Period

2024-2030

Market Size in 2023

US$ 21,441.8 million

Market CAGR

8.3%

By Location

  • Shallow Water
  • Deep Water

By Foundation

  • Floating
  • Fixed
  • Monopile
  • Tripod
  • Gravity base
  • Jacket
  • Others

By Capacity

  • Less than 5MW
  • 5MW - 10 MW
  • More than 10 MW

By End User

  • Residential
  • Commercial

By Region

  • North America (U.S., Canada)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
  • Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

Key Features of the Report

  • The offshore wind turbine market provides granular level information about the market size, regional market share, historic market (2019 to 2023) and forecast (2024 to 2030)
  • The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startups details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis

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Frequently Asked Questions

Offshore wind turbine market size was valued at US$ 21,441.8 million in 2023 and is projected to grow at a 8.3% from 2024 to 2030.

Major nations and companies are turning to the adoption of renewable energy sources, especially wind energy, as they can supply clean energy, as global energy demand is on the rise. The use of offshore wind energy using cutting-edge technologies has drawn numerous nations and businesses for significant expenditures.

The Offshore Wind Turbine Market Leaders are Enercon Gmbh, General Electric, Goldwind, Nordex Se, Regen Powertech, Sinovel Wind Group, Suzlon Energy Limited, Zhejiang Windey, Vestas, Siemens Energy

1. Executive Summary
2. Global Offshore Wind Turbine Market Introduction
2.1. Global Offshore Wind Turbine Market Taxonomy
2.2. Global Offshore Wind Turbine Market Definitions
2.2.1. Location
2.2.2. Foundation
2.2.3. Capacity
2.2.4. End-User
3. Global Offshore Wind Turbine Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Global Offshore Wind Turbine Market Dynamic Factors - Impact Analysis
3.6. Global Offshore Wind Turbine Market Competition Landscape
4. Global Offshore Wind Turbine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030
4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%)
4.3. Market Opportunity Analysis
5. Global Offshore Wind Turbine Market Forecast, By Location, 2019 - 2023 and Forecast, 2024 - 2030
5.1. Shallow Water
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.1.3. Market Opportunity Analysis
5.2. Deep Water
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
5.2.3. Market Opportunity Analysis
6. Global Offshore Wind Turbine Market Forecast, By Foundation, 2019 - 2023 and Forecast, 2024 - 2030
6.1. Floating
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.1.3. Market Opportunity Analysis
6.2. Fixed
6.2.1. Monopile
6.2.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.1.3. Market Opportunity Analysis
6.2.2. Tripod
6.2.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.2.3. Market Opportunity Analysis
6.2.3. Gravity base
6.2.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.3.3. Market Opportunity Analysis
6.2.4. Jacket
6.2.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.2.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.2.4.3. Market Opportunity Analysis
6.3. Others
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
6.3.3. Market Opportunity Analysis
7. Global Offshore Wind Turbine Market Forecast, By Capacity, 2019 - 2023 and Forecast, 2024 - 2030
7.1. Less than 5MW
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.1.3. Market Opportunity Analysis
7.2. 5MW 10 MW
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.2.3. Market Opportunity Analysis
7.3. More than 10 MW
7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
7.3.3. Market Opportunity Analysis
8. Global Offshore Wind Turbine Market Forecast, By End-Use, 2019 - 2023 and Forecast, 2024 - 2030
8.1. Residential
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.1.3. Market Opportunity Analysis
8.2. Commercial
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
8.2.3. Market Opportunity Analysis
9. Global Offshore Wind Turbine Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.1.3. Market Opportunity Analysis
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.2.3. Market Opportunity Analysis
9.3. Asia-Pacific
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.3.3. Market Opportunity Analysis
9.4. Latin America
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.4.3. Market Opportunity Analysis
9.5. Middle East and Africa
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn)
9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
9.5.3. Market Opportunity Analysis
9.6. Global Offshore Wind Turbine Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use, and Region, 2024 - 2030
10. North America Offshore Wind Turbine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
10.1. Location Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.1.1. Shallow Water
10.1.2. Deep Water
10.2. Foundation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.2.1. Floating
10.2.2. Fixed
10.2.2.1. Monopile
10.2.2.2. Tripod
10.2.2.3. Gravity base
10.2.2.4. Jacket
10.3. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.3.1. Less than 5MW
10.3.2. 5MW 10 MW
10.3.3. More than 10 MW
10.4. End-Use Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.4.1. Residential
10.4.2. Commercial
10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
10.5.1. USA
10.5.2. Canada
10.6. North America Offshore Wind Turbine Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use, and Country, 2024 - 2030
10.7. North America Offshore Wind Turbine Market Dynamics Trends
11. Europe Offshore Wind Turbine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
11.1. Location Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.1.1. Shallow Water
11.1.2. Deep Water
11.2. Foundation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.2.1. Floating
11.2.2. Fixed
11.2.2.1. Monopile
11.2.2.2. Tripod
11.2.2.3. Gravity base
11.2.2.4. Jacket
11.3. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.3.1. Less than 5MW
11.3.2. 5MW 10 MW
11.3.3. More than 10 MW
11.4. End-Use Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.4.1. Residential
11.4.2. Commercial
11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
11.5.1. Germany
11.5.2. UK
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Poland
11.5.8. Rest of Europe
11.6. Europe Offshore Wind Turbine Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use,  and Country, 2024 - 2030
11.7. Europe Offshore Wind Turbine Market Dynamics Trends
12. Asia-Pacific Offshore Wind Turbine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
12.1. Location Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.1.1. Shallow Water
12.1.2. Deep Water
12.2. Foundation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.2.1. Floating
12.2.2. Fixed
12.2.2.1. Monopile
12.2.2.2. Tripod
12.2.2.3. Gravity base
12.2.2.4. Jacket
12.3. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.3.1. Less than 5MW
12.3.2. 5MW 10 MW
12.3.3. More than 10 MW
12.4. End-Use Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.4.1. Residential
12.4.2. Commercial
12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
12.5.1. Japan
12.5.2. China
12.5.3. India
12.5.4. ASEAN
12.5.5. Australia & New Zealand
12.5.6. Rest of Asia-Pacific
12.6. Asia-Pacific Offshore Wind Turbine Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use,  and Country, 2024 - 2030
12.7. Asia-Pacific Offshore Wind Turbine Market Dynamics Trends
13. Latin America Offshore Wind Turbine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
13.1. Location Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.1.1. Shallow Water
13.1.2. Deep Water
13.2. Foundation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.2.1. Floating
13.2.2. Fixed
13.2.2.1. Monopile
13.2.2.2. Tripod
13.2.2.3. Gravity base
13.2.2.4. Jacket
13.3. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.3.1. Less than 5MW
13.3.2. 5MW 10 MW
13.3.3. More than 10 MW
13.4. End-Use Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
13.4.1. Residential
13.4.2. Commercial
13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Argentina
13.5.4. Rest of Latin America
13.6. Latin America Offshore Wind Turbine Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use,  and Country, 2024 - 2030
13.7. Latin America Offshore Wind Turbine Market Dynamics Trends
14. Middle East and Africa Offshore Wind Turbine Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) 
14.1. Location Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.1.1. Shallow Water
14.1.2. Deep Water
14.2. Foundation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.2.1. Floating
14.2.2. Fixed
14.2.2.1. Monopile
14.2.2.2. Tripod
14.2.2.3. Gravity base
14.2.2.4. Jacket
14.3. Capacity Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.3.1. Less than 5MW
14.3.2. 5MW 10 MW
14.3.3. More than 10 MW
14.4. End-Use Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
14.4.1. Residential
14.4.2. Commercial
14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
14.5.1. Gulf Cooperation Council (GCC) Countries
14.5.2. Israel
14.5.3. South Africa
14.5.4. Rest of MEA
14.6. MEA Offshore Wind Turbine Market - Opportunity Analysis Index, By Location, By Foundation, By Capacity, By End-Use,  and Country, 2024 - 2030
14.7. MEA Offshore Wind Turbine Market Dynamics Trends
15. Competition Landscape
15.1. Strategic Dashboard of Top Market Players
15.2. Company Profiles (Introduction, Financial Analysis, Feedstock Material & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
15.2.1. Siemens Gamesa Renewable Energy SA
15.2.2. Vestas Wind Systems A/S
15.2.3. Xinjiang Goldwind Science & Technology Co. Ltd
15.2.4. Guodian United Power Technology Company Limited,
15.2.5. General Electric Company
15.2.6. Iberdrola, S.A.
15.2.7. Nordex SE
15.2.8. Senvion SA
15.2.9. Suzlon Energy Ltd
15.2.10. Hitachi Limited
15.2.11. Envision Energy Limited
15.2.12. Enercon GmbH
15.2.13. TE Connectivity
16. Research Methodology
17. Key Assumptions and Acronyms

Key Market Players

  • Siemens Gamesa Renewable Energy SA
  • Vestas Wind Systems A/S
  • Xinjiang Goldwind Science & Technology Co. Ltd
  • Guodian United Power Technology Company Limited,
  • General Electric Company
  • Iberdrola, S.A.
  • Nordex SE
  • Senvion SA
  • Suzlon Energy Ltd
  • Hitachi Limited
  • Envision Energy Limited
  • Enercon GmbH
  • TE Connectivity

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