Offshore Wind Market Revenue Estimated 117.6 billion USD, Thriving CAGR of 21% During 2023 to 2030 | Top Industry Players Growth Assessment Report

Offshore Wind Market Overview:

According to the latest report, the Offshore Wind Market is projected to grow at a CAGR of 21% during the forecast period (2022-2030), with market share of USD 117.6 Billion. Escalating the production of energy from renewable resources is key driver of the industry.

The offshore wind market refers to the industry involved in the development, construction, and operation of wind farms located in bodies of water, usually in the ocean. Offshore wind farms harness the power of wind to generate electricity and have become increasingly popular in recent years as countries seek to reduce their reliance on fossil fuels and transition to cleaner sources of energy.

The offshore wind market is expected to continue to grow in the coming years, driven by falling costs, advances in technology, and supportive government policies.

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Key Companies Profiled

• General Electric (US)
• Siemens Gamesa Renewable Energy SA (Germany)
• MHI Vestas Offshore Wind (Denmark)
• Senvion SA (Luxembourg)
• Doosan Heavy Industries & Construction (South Korea)
• Suzlon Energy Limited (India)
• Dong Energy A/S (Denmark)
• EEW GROUP (Germany)
• ENERCON GmbH (Germany)
• Goldwind Wind Energy GmbH (China)
• ABB (Switzerland)
• Engie (France)
• Ørsted A/S (Denmark)

Offshore Wind Market Segmentation

• By Components:

Towers, turbines, electrical infrastructure, nacelles, blades, and other items are sub-segmented under the component segment.

• By Location:

The location portion is divided into two sections: 30m above and 30m above. The market share leader among these is the 30m segment.

Industry News

The 112-MW Ishikari offshore wind power project has been awarded an order by Green Power Investment, according to Siemens Gamesa Renewable Energy. This is the first firm offshore order for the wind turbine maker in Japan.

Maritime breezes offer exciting potential for Latin America. The initial moves toward developing offshore wind power were made in Colombia and Brazil. Encounters with oil platforms.

Mexico, Chile, and Argentina are the next four largest onshore wind markets in Latin America after Brazil. The majority of Brazil’s oil and gas production occurs offshore, and the country has a highly well-established supply chain that can be modified to match the unique requirements of offshore wind.

The hunt for energy alternatives becomes more alluring in terms of costs and sovereignty in a scenario where hydrocarbon prices are triggered by the conflict in Ukraine and the sanctions imposed on Russia.

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Offshore Wind Market Regional Classification

A sizeable portion of the worldwide offshore wind market is controlled by Europe. The growth of the offshore wind market is fueled by elements like the rise of renewable energy sources, the recovering economy, and rising technology and population. Other significant trends in the offshore wind market include several supportive policies promoting wind projects and lowering carbon emissions, as well as declining wind energy per megawatt-hour prices.

The offshore wind market size is also increased by the region’s strong industrial expansion and the presence of major international companies. It is anticipated that the region would continue to lead during the evaluation period.

Mexico, Chile, and Argentina are the next four largest onshore wind markets in Latin America after Brazil. Brazil produces most of its oil and gas offshore, and its supply chain can be modified to meet the unique requirements of offshore wind.

The Report Answers Following Questions:

1. What are the key drivers of this market growth?
2. What are the emerging trends that could impact the demand for this industry in the future?
3. How will market evolve over the next 5-10 years?
4. What strategies do you think companies should adopt to meet the demand and capitalize on market growth opportunities?
5. What will be the future growth rate of the market?
6. What is the current demand for this market?

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