Offshore Wind Power Market: Growth opportunities led by CAPE Holland BV and China Steel Corp. - Technavio

NEW YORK, Jan. 10, 2023 /PRNewswire/ -- The offshore wind power market size is forecast to increase by USD 30,744.65 million from 2022 to 2027, at a CAGR of 17.59%, according to the recent market study by Technavio. The growth of the market will be driven by the rise in global energy demand, rising government support, and declining LCOE of wind power generation.

Technavio categorizes the global offshore wind power market as a part of the global renewable electricity market within the global independent power and renewable electricity market. The parent global renewable electricity market covers companies engaged in the generation and distribution of electricity using renewable sources. 

Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including CAPE Holland BV, China Steel Corp., Dongfang Electric Corp., Doosan Corp., Erndtebcker Eisenwerk GmbH and Co KG, General Electric Co., Hyosung Heavy Industries Corp., Hyundai Heavy Industries Co. Ltd., JDR Cable Systems Ltd., Lamprell Plc, Nexans SA, NKT AS, Nordex SE, Senvion Wind Technology Pvt. Ltd., Siemens Gamesa Renewable Energy SA, among others. 

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Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

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The market is segmented by type (monopile, jacket, and others), product type (fixed structure and floating structure), and geography (Europe, APAC, North America, South America, and Middle East and Africa).

Segmentation by Type (Inclusion/Exclusion)

• Monopile

The monopile segment was valued at USD 12,504.42 million in 2017 and continue to grow by 2021. There are several variations of monopiles, such as drilled monopiles and drilled concrete monopiles. Owing to the advantages of monopile structures, technological advances, and the rapid deployment of monopile structures across the world due to the presence of prominent vendors with requisite technological expertise, the market is expected to grow significantly during the forecast period.

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What are the key data covered in this offshore wind power market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the offshore wind power market between 2023 and 2027
• Precise estimation of the offshore wind power market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the offshore wind power industry across Europe, APAC, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of offshore wind power market vendors

Related Reports: 

Onshore Wind Power Systems Market by Technology and Geography - Forecast and Analysis 2021-2025: The onshore wind power systems market has the potential to grow by USD 36.76 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 5.39%. Furthermore, this report extensively covers market segmentation by technology (wind turbine, T&D, and others) and geography (APAC, North America, Europe, South America, and MEA).

Global Wind Power Systems Market by Technology and Geography - Forecast and Analysis 2022-2026: The global wind power systems market is projected to grow by USD 49.52 billion with a CAGR of 6.57% during the forecast period 2021 to 2026. Furthermore, this report extensively covers the global wind power systems market segmentation by technology (wind turbine, T&D, and others) and geography (APAC, North America, Europe, the Middle East and Africa, and South America). 

Browse for Technavio "Utilities" Research Reports

Table of Contents:

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market Definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global offshore wind power market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global offshore wind power market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 Product Type Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Product Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments 
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type 
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 Monopile - Market size and forecast 2022-2027
• Exhibit 34: Chart on Monopile - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Monopile - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Monopile - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Monopile - Year-over-year growth 2022-2027 (%)

• 6.4 Jacket - Market size and forecast 2022-2027
• Exhibit 38: Chart on Jacket - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Jacket - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Jacket - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Jacket - Year-over-year growth 2022-2027 (%)

• 6.5 Others - Market size and forecast 2022-2027
• Exhibit 42: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Type 
• Exhibit 46: Market opportunity by Type ($ million)

7 Market Segmentation by Product Type

• 7.1 Market segments 
• Exhibit 47: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 48: Data Table on Product Type - Market share 2022-2027 (%)

• 7.2 Comparison by Product Type 
• Exhibit 49: Chart on Comparison by Product Type
• Exhibit 50: Data Table on Comparison by Product Type

• 7.3 Fixed structure - Market size and forecast 2022-2027
• Exhibit 51: Chart on Fixed structure - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Fixed structure - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Fixed structure - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Fixed structure - Year-over-year growth 2022-2027 (%)

• 7.4 Floating structure - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Floating structure - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Floating structure - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Floating structure - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Floating structure - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Product Type 
• Exhibit 59: Market opportunity by Product Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 60: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 61: Chart on Market share by geography 2022-2027 (%)
• Exhibit 62: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 63: Chart on Geographic comparison
• Exhibit 64: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 73: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 UK - Market size and forecast 2022-2027
• Exhibit 85: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 Belgium - Market size and forecast 2022-2027
• Exhibit 93: Chart on Belgium - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on Belgium - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on Belgium - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on Belgium - Year-over-year growth 2022-2027 (%)

• 9.11 US - Market size and forecast 2022-2027
• Exhibit 97: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 105: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 106: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 107: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 108: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 109: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 110: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 111: Matrix on vendor position and classification

• 12.3 CAPE Holland BV 
• Exhibit 112: CAPE Holland BV - Overview
• Exhibit 113: CAPE Holland BV - Product / Service
• Exhibit 114: CAPE Holland BV - Key offerings

• 12.4 China Steel Corp. 
• Exhibit 115: China Steel Corp. - Overview
• Exhibit 116: China Steel Corp. - Product / Service
• Exhibit 117: China Steel Corp. - Key offerings

• 12.5 Dongfang Electric Corp. 
• Exhibit 118: Dongfang Electric Corp. - Overview
• Exhibit 119: Dongfang Electric Corp. - Product / Service
• Exhibit 120: Dongfang Electric Corp. - Key offerings

• 12.6 Doosan Corp. 
• Exhibit 121: Doosan Corp. - Overview
• Exhibit 122: Doosan Corp. - Business segments
• Exhibit 123: Doosan Corp. - Key news
• Exhibit 124: Doosan Corp. - Key offerings
• Exhibit 125: Doosan Corp. - Segment focus

• 12.7 Erndtebcker Eisenwerk GmbH and Co KG
• Exhibit 126: Erndtebcker Eisenwerk GmbH and Co KG - Overview
• Exhibit 127: Erndtebcker Eisenwerk GmbH and Co KG - Product / Service
• Exhibit 128: Erndtebcker Eisenwerk GmbH and Co KG - Key offerings

• 12.8 General Electric Co. 
• Exhibit 129: General Electric Co. - Overview
• Exhibit 130: General Electric Co. - Business segments
• Exhibit 131: General Electric Co. - Key news
• Exhibit 132: General Electric Co. - Key offerings
• Exhibit 133: General Electric Co. - Segment focus

• 12.9 Hyosung Heavy Industries Corp. 
• Exhibit 134: Hyosung Heavy Industries Corp. - Overview
• Exhibit 135: Hyosung Heavy Industries Corp. - Product / Service
• Exhibit 136: Hyosung Heavy Industries Corp. - Key offerings

• 12.10 Hyundai Heavy Industries Co. Ltd.
• Exhibit 137: Hyundai Heavy Industries Co. Ltd. - Overview
• Exhibit 138: Hyundai Heavy Industries Co. Ltd. - Product / Service
• Exhibit 139: Hyundai Heavy Industries Co. Ltd. - Key offerings

• 12.11 JDR Cable Systems Ltd. 
• Exhibit 140: JDR Cable Systems Ltd. - Overview
• Exhibit 141: JDR Cable Systems Ltd. - Product / Service
• Exhibit 142: JDR Cable Systems Ltd. - Key offerings

• 12.12 Nexans SA 
• Exhibit 143: Nexans SA - Overview
• Exhibit 144: Nexans SA - Business segments
• Exhibit 145: Nexans SA - Key offerings
• Exhibit 146: Nexans SA - Segment focus

• 12.13 Nordex SE 
• Exhibit 147: Nordex SE - Overview
• Exhibit 148: Nordex SE - Business segments
• Exhibit 149: Nordex SE - Key offerings
• Exhibit 150: Nordex SE - Segment focus

• 12.14 Senvion Wind Technology Pvt. Ltd.
• Exhibit 151: Senvion Wind Technology Pvt. Ltd. - Overview
• Exhibit 152: Senvion Wind Technology Pvt. Ltd. - Product / Service
• Exhibit 153: Senvion Wind Technology Pvt. Ltd. - Key offerings

• 12.15 Siemens Gamesa Renewable Energy SA
• Exhibit 154: Siemens Gamesa Renewable Energy SA - Overview
• Exhibit 155: Siemens Gamesa Renewable Energy SA - Business segments
• Exhibit 156: Siemens Gamesa Renewable Energy SA - Key news
• Exhibit 157: Siemens Gamesa Renewable Energy SA - Key offerings
• Exhibit 158: Siemens Gamesa Renewable Energy SA - Segment focus

• 12.16 Sinovel Wind Group Co. Ltd. 
• Exhibit 159: Sinovel Wind Group Co. Ltd. - Overview
• Exhibit 160: Sinovel Wind Group Co. Ltd. - Product / Service
• Exhibit 161: Sinovel Wind Group Co. Ltd. - Key offerings

• 12.17 Vestas Wind Systems AS 
• Exhibit 162: Vestas Wind Systems AS - Overview
• Exhibit 163: Vestas Wind Systems AS - Business segments
• Exhibit 164: Vestas Wind Systems AS - Key news
• Exhibit 165: Vestas Wind Systems AS - Key offerings
• Exhibit 166: Vestas Wind Systems AS - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 167: Inclusions checklist
• Exhibit 168: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 169: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 170: Research methodology
• Exhibit 171: Validation techniques employed for market sizing
• Exhibit 172: Information sources

• 13.5 List of abbreviations 
• Exhibit 173: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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