Increasing utilization of renewable energy for power generation mix continues to have a positive impact on the global offshore wind energy market. Today, the offshore wind energy sector has evolved to generate electricity, with the introduction of wind turbines taking off a major load from conventional sources of energy. Offshore wind energy forms an integral part of these clean energy resources and has a higher capacity factor as compared to the onshore wind energy. Wind turbines use the power of natural wind to generate electricity. This process of generating electricity is growing rapidly across the globe. Several developing countries have opened up huge opportunities for the global offshore wind turbines market since the pressure of keeping the carbon emissions low is increasing day-by-day.

The growth of the offshore wind energy market is attributed to the increasing demand for clean energy to reduce carbon emissions and the increasing demand for electricity generation with the help of renewable energy resources. The offshore wind energy market research study offers a wide perspective on where the industry is heading toward. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.

The report answers the following questions about the global offshore wind energy market:

  • What is the global offshore wind energy market size in terms of revenue from 2017-2023, and what will be with the growth rate during the forecast period 2018-2023?
  • What is the dominant component used in the offshore wind turbine for power generation?
  • What is the revenue generated from the different components, such as turbine, substructure, electrical infrastructure, and others?
  • What is the market size of offshore wind turbines for different locations, such as shallow water, transitional water, and deep water?
  • What is the offshore wind energy market size for different regions on the basis of various locations and components?
  • What are the key trends and opportunities in the market pertaining to countries included in different geographical regions?
  • How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of offshore wind energy?
  • What are the major driving forces that are expected to increase the demand for offshore wind turbines during the forecast period?
  • What are the major challenges inhibiting the growth of the global offshore wind energy market?
  • What kind of new strategies are adopted by the existing market players to expand their market position in the industry?
  • What is the competitive strength of the key players in the offshore wind energy market by analyzing their recent developments, product offerings, and regional presence?

The report further includes a thorough analysis of the impact of the Porter’s five major forces to understand the overall attractiveness of the industry. The report also focuses on the key developments and investments made in the offshore wind energy market by the players, research organizations, and governmental bodies.

Further, the report includes an exhaustive analysis of the regional split into North America, Europe, Asia-Pacific (APAC), and Rest-of-the-World (RoW). Each region details the individual push and pull forces in addition to the key players from that region. Some of the prominent players in the offshore wind energy market are GE Renewable Energy, Siemens Gamesa Renewable Energy, MHI Vestas, Adwen, Statoil, Senvion, Nexans, and EEW Group.