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Offshore Wind Turbine Market By Capacity, By Application: Global Opportunity Analysis And Industry Forecast, 2021-2031

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    Report

  • 299 Pages
  • June 2022
  • Region: Global
  • Allied Market Research
  • ID: 5671085
Description Jump to:
The global offshore wind turbine market size was valued at $17.8 billion in 2021, and projected to reach $39.2 billion by 2031, with a CAGR of 8.28% from 2022 to 2031.

Wind is the most readily available source of renewable energy. Wind turbines capture the wind’s kinetic energy and convert it into electricity. Wind energy is an important source of inexpensive renewable energy, which helps reduce greenhouse gas emissions, diversify energy supply, and deliver cost-competitive electricity. The major benefit of wind energy is cost certainty as it is one of the cheapest forms of electricity generation. Further, the government is taking initiatives to explore alternative sources of energy, which is beneficial to minimize the dependency on other limited sources, such as fossil fuel, oil, and gas.

Wind is a significant source of affordable renewable energy, which currently contributes to 5% of the global electricity demand. The technological development for the growth of more reliable and efficient wind turbines is making wind power more cost-effective. Further, depleting natural resources and government initiatives to explore alternative sources of energy are driving the global wind turbine market. The cost of electricity generated using wind energy is expected to decline in near future owing to technological development. This is expected to deliver substantial growth opportunity for the wind turbine market in the near future. However, heavy investment for the production and installation of wind turbines hinder the growth of the market.

Rise in need for eco-friendly energy solutions further propels the demand for offshore wind turbines. For instance, according to the International Energy Agency, global energy utilization increased by 4.6% in 2021, twice than the normal rate in 2018. Energy utilization was driven by expanded interest for warming and cooling systems in certain locales of North America, Europe, and other regions.

Rise in utilization of petroleum products secured 70% in the global energy generation, and sustainable power sources contributed for around 25% of the global energy development. The demand for power increased with a rate of 4.5% and the share of electricity in global energy consumption reached 20% in 2021. Moreover, with the rapidly growing population, the demand for electricity is expected to increase significantly. Thus, all these factors collectively are expected to augment the growth of the offshore wind turbine market globally. However, high initial installation cost and location constraints are expected to hamper sales of the offshore wind turbine market during the forecast period.

The offshore wind turbine market is segmented on the basis of capacity, application, and region.

On the basis of capacity, the global offshore wind turbine market is segmented into small (less than 10MW), medium (10-100MW), and large (greater than 100MW). On the basis of application, the market is segmented into industrial, commercial, and residential. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.

The major companies profiled in this report include, Enercon Gmbh, General Electric, Goldwind, Nordex SE, Regen Powertech, Sinovel Wind Group, Suzlon Energy Limited, Zhejiang Windey, VESTAS, and Siemens Energy. Additional growth strategies such as expansion of production capacities, acquisition, collaboration, joint venture, and partnership in the development of the innovative products from manufacturers have helped to attain key developments in the global offshore wind turbine market trends.

Covid-19 Analysis

COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments and infrastructure companies. The novel coronavirus has affected several economies ad caused lockdown in many countries which has limited the growth of the market. The shutdown of industrial manufacturing companies led to the decline in the demand for solar-related equipment in most of the countries across the globe, which led to decline in demand for the offshore wind turbine market. The decrease in utilization of power in the industrial facilities across the globe during the outbreak has a negative impact on the development of the market.

After the global vaccination, the government of various countries has taken initiatives to increase the investment in the renewable energy related industries, especially solar and wind power systems. The increase in the investment is mostly to improve the national energy security during the pandemic and other crisis. The presence of above mentioned activities and change in policies due to the outbreak of the COVID-19 pandemic are expected to have positive impact on the development of the market during the forecast period.

KEY BENEFITS FOR STAKEHOLDERS

  • This report provides a detailed quantitative analysis of the current offshore wind turbine market trends and estimations from 2021 to 2031, which assists to identify the prevailing opportunities.

An in-depth analysis of the offshore wind turbine market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
  • A comprehensive analysis of the factors that drive and restrain the growth of the global offshore wind turbine market is provided.

Region-wise and country-wise market conditions are comprehensively analyzed in this report.
  • The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2031 in terms of value.
  • An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
  • Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global offshore wind turbine market.

Key Market Segments

By Capacity

  • Small (Less than 10MW)
  • Medium (10-100MW)
  • Large (Greater than 100MW)

By Application

  • Industrial
  • Petrochemical
  • Oil gas
  • Power generation
  • Others
  • Commercial
  • Residential

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Italy
  • Spain
  • U.K.
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest Of Asia Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

Key Market Players

  • Enercon Gmbh
  • GENERAL ELECTRIC
  • GOLDWIND
  • NORDEX SE
  • REGEN POWERTECH
  • SINOVEL WIND GROUP
  • SUZLON ENERGY LIMITED
  • ZHEJIANG WINDEY
  • VESTAS
  • Siemens Energy

 

Please note:

  • Online Access price format is valid for 60 days access. Printing is not enabled.
  • PDF Single and Enterprise price formats enable printing.

 

Table of Contents

CHAPTER 1: INTRODUCTION
1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Porter’s five forces analysis
3.4.Top player positioning
3.5.Market dynamics
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
3.7.Pricing Analysis
3.8.Value Chain Analysis
3.9.Key Regulation Analysis
CHAPTER 4: OFFSHORE WIND TURBINE MARKET, BY CAPACITY
4.1 Overview
4.1.1 Market size and forecast
4.2 Small (Less than 10MW)
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Medium (10-100MW)
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Large (Greater than 100MW)
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
CHAPTER 5: OFFSHORE WIND TURBINE MARKET, BY APPLICATION
5.1 Overview
5.1.1 Market size and forecast
5.2 Industrial
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Commercial
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Residential
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
CHAPTER 6: OFFSHORE WIND TURBINE MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Capacity
6.2.3 North America Market size and forecast, by Application
6.2.4 North America Market size and forecast, by country
6.2.4.1 U.S.
6.2.4.1.1 Market size and forecast, by Capacity
6.2.4.1.2 Market size and forecast, by Application
6.2.4.2 Canada
6.2.4.2.1 Market size and forecast, by Capacity
6.2.4.2.2 Market size and forecast, by Application
6.2.4.3 Mexico
6.2.4.3.1 Market size and forecast, by Capacity
6.2.4.3.2 Market size and forecast, by Application
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Capacity
6.3.3 Europe Market size and forecast, by Application
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Market size and forecast, by Capacity
6.3.4.1.2 Market size and forecast, by Application
6.3.4.2 France
6.3.4.2.1 Market size and forecast, by Capacity
6.3.4.2.2 Market size and forecast, by Application
6.3.4.3 Italy
6.3.4.3.1 Market size and forecast, by Capacity
6.3.4.3.2 Market size and forecast, by Application
6.3.4.4 Spain
6.3.4.4.1 Market size and forecast, by Capacity
6.3.4.4.2 Market size and forecast, by Application
6.3.4.5 U.K.
6.3.4.5.1 Market size and forecast, by Capacity
6.3.4.5.2 Market size and forecast, by Application
6.3.4.6 Rest of Europe
6.3.4.6.1 Market size and forecast, by Capacity
6.3.4.6.2 Market size and forecast, by Application
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Capacity
6.4.3 Asia-Pacific Market size and forecast, by Application
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Market size and forecast, by Capacity
6.4.4.1.2 Market size and forecast, by Application
6.4.4.2 Japan
6.4.4.2.1 Market size and forecast, by Capacity
6.4.4.2.2 Market size and forecast, by Application
6.4.4.3 India
6.4.4.3.1 Market size and forecast, by Capacity
6.4.4.3.2 Market size and forecast, by Application
6.4.4.4 South Korea
6.4.4.4.1 Market size and forecast, by Capacity
6.4.4.4.2 Market size and forecast, by Application
6.4.4.5 Rest Of Asia Pacific
6.4.4.5.1 Market size and forecast, by Capacity
6.4.4.5.2 Market size and forecast, by Application
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Capacity
6.5.3 LAMEA Market size and forecast, by Application
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Market size and forecast, by Capacity
6.5.4.1.2 Market size and forecast, by Application
6.5.4.2 Saudi Arabia
6.5.4.2.1 Market size and forecast, by Capacity
6.5.4.2.2 Market size and forecast, by Application
6.5.4.3 South Africa
6.5.4.3.1 Market size and forecast, by Capacity
6.5.4.3.2 Market size and forecast, by Application
6.5.4.4 Rest of LAMEA
6.5.4.4.1 Market size and forecast, by Capacity
6.5.4.4.2 Market size and forecast, by Application
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 Enercon Gmbh
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 GENERAL ELECTRIC
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 GOLDWIND
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 NORDEX SE
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 REGEN POWERTECH
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 SINOVEL WIND GROUP
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 SUZLON ENERGY LIMITED
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 ZHEJIANG WINDEY
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 VESTAS
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Siemens Energy
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
List of Tables
Table 1. Global Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 2. Lithium Niobate Modulator Market Revenue, for 10 Ghz, by Region , 2021-2030,($Million)
Table 3. Lithium Niobate Modulator Market for 10 Ghz by Country, 2021-2030,($Million)
Table 4. Lithium Niobate Modulator Market Revenue, for 20 Ghz, by Region , 2021-2030,($Million)
Table 5. Lithium Niobate Modulator Market for 20 Ghz by Country, 2021-2030,($Million)
Table 6. Lithium Niobate Modulator Market Revenue, for 40 Ghz, by Region , 2021-2030,($Million)
Table 7. Lithium Niobate Modulator Market for 40 Ghz by Country, 2021-2030,($Million)
Table 8. Lithium Niobate Modulator Market Revenue, for Others, by Region , 2021-2030,($Million)
Table 9. Lithium Niobate Modulator Market for Others by Country, 2021-2030,($Million)
Table 10. Global Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 11. Lithium Niobate Modulator Market Revenue, for 800 Nm, by Region , 2021-2030,($Million)
Table 12. Lithium Niobate Modulator Market for 800 Nm by Country, 2021-2030,($Million)
Table 13. Lithium Niobate Modulator Market Revenue, for 1060 Nm, by Region , 2021-2030,($Million)
Table 14. Lithium Niobate Modulator Market for 1060 Nm by Country, 2021-2030,($Million)
Table 15. Lithium Niobate Modulator Market Revenue, for 1300 Nm, by Region , 2021-2030,($Million)
Table 16. Lithium Niobate Modulator Market for 1300 Nm by Country, 2021-2030,($Million)
Table 17. Lithium Niobate Modulator Market Revenue, for 1550 Nm, by Region , 2021-2030,($Million)
Table 18. Lithium Niobate Modulator Market for 1550 Nm by Country, 2021-2030,($Million)
Table 19. Lithium Niobate Modulator Market Revenue, for Others, by Region , 2021-2030,($Million)
Table 20. Lithium Niobate Modulator Market for Others by Country, 2021-2030,($Million)
Table 21. Global Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 22. Lithium Niobate Modulator Market Revenue, for Phase Keyed Optical Communications, by Region , 2021-2030,($Million)
Table 23. Lithium Niobate Modulator Market for Phase Keyed Optical Communications by Country, 2021-2030,($Million)
Table 24. Lithium Niobate Modulator Market Revenue, for Spectrum Broadening, by Region , 2021-2030,($Million)
Table 25. Lithium Niobate Modulator Market for Spectrum Broadening by Country, 2021-2030,($Million)
Table 26. Lithium Niobate Modulator Market Revenue, for Interferometric Sensing, by Region , 2021-2030,($Million)
Table 27. Lithium Niobate Modulator Market for Interferometric Sensing by Country, 2021-2030,($Million)
Table 28. Lithium Niobate Modulator Market Revenue, for Quantum Key Distribution, by Region , 2021-2030,($Million)
Table 29. Lithium Niobate Modulator Market for Quantum Key Distribution by Country, 2021-2030,($Million)
Table 30. Lithium Niobate Modulator Market Revenue, for Others, by Region , 2021-2030,($Million)
Table 31. Lithium Niobate Modulator Market for Others by Country, 2021-2030,($Million)
Table 32. Global Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 33. Lithium Niobate Modulator Market Revenue, for It and Telecom, by Region , 2021-2030,($Million)
Table 34. Lithium Niobate Modulator Market for It and Telecom by Country, 2021-2030,($Million)
Table 35. Lithium Niobate Modulator Market Revenue, for Aerospace and Defence, by Region , 2021-2030,($Million)
Table 36. Lithium Niobate Modulator Market for Aerospace and Defence by Country, 2021-2030,($Million)
Table 37. Lithium Niobate Modulator Market Revenue, for Industrial, by Region , 2021-2030,($Million)
Table 38. Lithium Niobate Modulator Market for Industrial by Country, 2021-2030,($Million)
Table 39. Lithium Niobate Modulator Market Revenue, for Research, by Region , 2021-2030,($Million)
Table 40. Lithium Niobate Modulator Market for Research by Country, 2021-2030,($Million)
Table 41. Lithium Niobate Modulator Market Revenue, for Others, by Region , 2021-2030,($Million)
Table 42. Lithium Niobate Modulator Market for Others by Country, 2021-2030,($Million)
Table 43. Lithium Niobate Modulator Market, by Region, 2021-2030,($Million)
Table 44. North America Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 45. North America Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 46. North America Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 47. North America Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 48. North America Lithium Niobate Modulator Market, by Country, 2021-2030,($Million)
Table 49. U.S. Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 50. U.S. Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 51. U.S. Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 52. U.S. Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 53. Canada Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 54. Canada Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 55. Canada Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 56. Canada Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 57. Mexico Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 58. Mexico Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 59. Mexico Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 60. Mexico Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 61. Europe Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 62. Europe Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 63. Europe Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 64. Europe Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 65. Europe Lithium Niobate Modulator Market, by Country, 2021-2030,($Million)
Table 66. Germany Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 67. Germany Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 68. Germany Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 69. Germany Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 70. U.K. Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 71. U.K. Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 72. U.K. Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 73. U.K. Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 74. France Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 75. France Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 76. France Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 77. France Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 78. Spain Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 79. Spain Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 80. Spain Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 81. Spain Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 82. Italy Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 83. Italy Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 84. Italy Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 85. Italy Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 86. Rest of Europe Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 87. Rest of Europe Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 88. Rest of Europe Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 89. Rest of Europe Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 90. Asia-Pacific Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 91. Asia-Pacific Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 92. Asia-Pacific Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 93. Asia-Pacific Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 94. Asia-Pacific Lithium Niobate Modulator Market, by Country, 2021-2030,($Million)
Table 95. China Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 96. China Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 97. China Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 98. China Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 99. Japan Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 100. Japan Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 101. Japan Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 102. Japan Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 103. India Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 104. India Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 105. India Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 106. India Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 107. South Korea Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 108. South Korea Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 109. South Korea Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 110. South Korea Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 111. Australia Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 112. Australia Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 113. Australia Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 114. Australia Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 115. Rest of Asia-Pacific Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 116. Rest of Asia-Pacific Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 117. Rest of Asia-Pacific Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 118. Rest of Asia-Pacific Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 119. LAMEA Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 120. LAMEA Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 121. LAMEA Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 122. LAMEA Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 123. LAMEA Lithium Niobate Modulator Market, by Country, 2021-2030,($Million)
Table 124. Brazil Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 125. Brazil Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 126. Brazil Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 127. Brazil Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 128. Saudi Arabia Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 129. Saudi Arabia Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 130. Saudi Arabia Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 131. Saudi Arabia Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 132. UAE Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 133. UAE Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 134. UAE Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 135. UAE Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 136. South Africa Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 137. South Africa Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 138. South Africa Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 139. South Africa Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 140. Rest of LAMEA Lithium Niobate Modulator Market, by Type, 2021-2030,($Million)
Table 141. Rest of LAMEA Lithium Niobate Modulator Market, by Wavelength Window, 2021-2030,($Million)
Table 142. Rest of LAMEA Lithium Niobate Modulator Market, by Application, 2021-2030,($Million)
Table 143. Rest of LAMEA Lithium Niobate Modulator Market, by End Use, 2021-2030,($Million)
Table 144. Ixblue Group: Company Snapshot
Table 145. Ixblue Group: Operating Segments
Table 146. Ixblue Group: Product Portfolio
Table 147. Ixblue Group: Net Sales
Table 148. Ixblue Group: Key Stratergies
Table 149. Gooch & Housego plc: Company Snapshot
Table 150. Gooch & Housego plc: Operating Segments
Table 151. Gooch & Housego plc: Product Portfolio
Table 152. Gooch & Housego plc: Net Sales
Table 153. Gooch & Housego plc: Key Stratergies
Table 154. Fujitsu Optical Components Ltd: Company Snapshot
Table 155. Fujitsu Optical Components Ltd: Operating Segments
Table 156. Fujitsu Optical Components Ltd: Product Portfolio
Table 157. Fujitsu Optical Components Ltd: Net Sales
Table 158. Fujitsu Optical Components Ltd: Key Stratergies
Table 159. Thorlabs: Company Snapshot
Table 160. Thorlabs: Operating Segments
Table 161. Thorlabs: Product Portfolio
Table 162. Thorlabs: Net Sales
Table 163. Thorlabs: Key Stratergies
Table 164. Beijing Panwoo Integrated Ptoelectronic Inc.: Company Snapshot
Table 165. Beijing Panwoo Integrated Ptoelectronic Inc.: Operating Segments
Table 166. Beijing Panwoo Integrated Ptoelectronic Inc.: Product Portfolio
Table 167. Beijing Panwoo Integrated Ptoelectronic Inc.: Net Sales
Table 168. Beijing Panwoo Integrated Ptoelectronic Inc.: Key Stratergies
Table 169. Fabrinet Inc.: Company Snapshot
Table 170. Fabrinet Inc.: Operating Segments
Table 171. Fabrinet Inc.: Product Portfolio
Table 172. Fabrinet Inc.: Net Sales
Table 173. Fabrinet Inc.: Key Stratergies
Table 174. Lumentum Operations LLC: Company Snapshot
Table 175. Lumentum Operations LLC: Operating Segments
Table 176. Lumentum Operations LLC: Product Portfolio
Table 177. Lumentum Operations LLC: Net Sales
Table 178. Lumentum Operations LLC: Key Stratergies
Table 179. Eospace, Inc.: Company Snapshot
Table 180. Eospace, Inc.: Operating Segments
Table 181. Eospace, Inc.: Product Portfolio
Table 182. Eospace, Inc.: Net Sales
Table 183. Eospace, Inc.: Key Stratergies
List of Figures
Figure 1. Offshore Wind Turbine Market Segmentation
Figure 2. Offshore Wind Turbine Market,2021-2031
Figure 3. Offshore Wind Turbine Market,2021-2031
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Offshore Wind Turbine Market:Drivers, Restraints and Opportunities
Figure 12. Pricing Analysis
Figure 13. Value Chain Analysis
Figure 14. Key Regulation Analysis
Figure 15. Offshore Wind Turbine Market,By Capacity,2021(%)
Figure 16. Comparative Share Analysis of Small (Less Than 10Mw) Offshore Wind Turbine Market,2021-2031(%)
Figure 17. Comparative Share Analysis of Medium (10-100Mw) Offshore Wind Turbine Market,2021-2031(%)
Figure 18. Comparative Share Analysis of Large (Greater Than 100Mw) Offshore Wind Turbine Market,2021-2031(%)
Figure 19. Offshore Wind Turbine Market,By Application,2021(%)
Figure 20. Comparative Share Analysis of Industrial Offshore Wind Turbine Market,2021-2031(%)
Figure 21. Comparative Share Analysis of Commercial Offshore Wind Turbine Market,2021-2031(%)
Figure 22. Comparative Share Analysis of Residential Offshore Wind Turbine Market,2021-2031(%)
Figure 23. Offshore Wind Turbine Market by Region,2021
Figure 24. U.S. Offshore Wind Turbine Market,2021-2031($Million)
Figure 25. Canada Offshore Wind Turbine Market,2021-2031($Million)
Figure 26. Mexico Offshore Wind Turbine Market,2021-2031($Million)
Figure 27. Germany Offshore Wind Turbine Market,2021-2031($Million)
Figure 28. France Offshore Wind Turbine Market,2021-2031($Million)
Figure 29. Italy Offshore Wind Turbine Market,2021-2031($Million)
Figure 30. Spain Offshore Wind Turbine Market,2021-2031($Million)
Figure 31. U.K. Offshore Wind Turbine Market,2021-2031($Million)
Figure 32. Rest of Europe Offshore Wind Turbine Market,2021-2031($Million)
Figure 33. China Offshore Wind Turbine Market,2021-2031($Million)
Figure 34. Japan Offshore Wind Turbine Market,2021-2031($Million)
Figure 35. India Offshore Wind Turbine Market,2021-2031($Million)
Figure 36. South Korea Offshore Wind Turbine Market,2021-2031($Million)
Figure 37. Rest of Asia-Pacific Offshore Wind Turbine Market,2021-2031($Million)
Figure 38. Brazil Offshore Wind Turbine Market,2021-2031($Million)
Figure 39. Saudi Arabia Offshore Wind Turbine Market,2021-2031($Million)
Figure 40. South Africa Offshore Wind Turbine Market,2021-2031($Million)
Figure 41. Rest of LAMEA Offshore Wind Turbine Market,2021-2031($Million)
Figure 42. Top Winning Strategies, by Year
Figure 43. Top Winning Strategies, by Development
Figure 44. Top Winning Strategies, by Company
Figure 45. Product Mapping of Top 10 Players
Figure 46. Competitive Dashboard
Figure 47. Competitive Heatmap of Top 10 Key Players
Figure 48. Enercon GmbH.: Net Sales ,($Million)
Figure 49. General Electric.: Net Sales ,($Million)
Figure 50. Goldwind.: Net Sales ,($Million)
Figure 51. Nordex SE.: Net Sales ,($Million)
Figure 52. Regen Powertech.: Net Sales ,($Million)
Figure 53. Sinovel Wind Group.: Net Sales ,($Million)
Figure 54. Suzlon Energy Limited.: Net Sales ,($Million)
Figure 55. Zhejiang Windey.: Net Sales ,($Million)
Figure 56. Vestas.: Net Sales ,($Million)
Figure 57. Siemens Energy.: Net Sales ,($Million)

Executive Summary

According to the report, titled, “Offshore Wind Turbine Market," the offshore wind turbine industry was valued at $17.8 billion in 2021, and offshore wind turbine market size is estimated to reach $39.2 billion by 2031, growing at a CAGR of 8.28% from 2022 to 2031.

Wind turbine allows harnessing the power of the wind and turning it into the electrical energy. Wind energy is one of the most affordable, clean, and readily available renewable energy sources. It is considered as the cleanest energy sources of energy and is also one of the alternatives for depleting fossil fuel resources. The major benefit of wind energy is cost certainty as it is one of the cheapest forms of electricity generation. The government is taking initiatives to explore alternative sources of energy, which is beneficial to minimize the dependency on other limited sources, such as fossil fuel, oil, and gas.

The technological development to produce more efficient and reliable wind turbines is making wind power more cost-effective. Further, government initiative to discover alternative sources of energy and depleting natural resources of energy drives the offshore wind turbine market. However, heavy initial investment for the production and installation of wind turbines hamper the offshore wind turbine market growth.

The offshore wind turbine market is segmented on the basis of capacity, application, and region.

On the basis of capacity, the global offshore wind turbine market is segmented into small (less than 10MW), medium (10-100MW), and large (greater than 100MW). On the basis of application, the market is segmented into industrial, commercial, and residential. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and North America.

On the basis of capacity, the large (greater than 100MW) segment holds the largest share, in terms of revenue, and is expected to maintain its dominance during the forecast period. This offshore wind turbine market forecast growth is attributed to rise in investment for large scale offshore wind farm, such as Hecate Independent Power Limited, a U.S. based renewable power project company, which introduced its HIP Atlantic Project to deploy about 10GW floating and fixed wind power in the North Atlantic, UK, which is worth about $30 billion and thus, is expected to fuel the growth of the market.

On the basis of application, the industrial segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 7.97% during the forecast period. This is due to increase in investment in the major manufacturing industries, such as chemical, electronic towards the renewable energy as a power source. In addition, increase in research and development of more efficient wind turbine is expected to drive the growth of the offshore wind turbine market for the industrial segment across the globe.

On the basis of region, the market is analyzed across four major regions, such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2020, and is anticipated to maintain this dominance during the forecast period. This is attributed to the presence of key players and huge consumer base in the region.

The major companies profiled in this report include, Enercon Gmbh, General Electric, Goldwind, Nordex SE, Regen Powertech, Sinovel Wind Group, Suzlon Energy Limited, Zhejiang Windey, VESTAS, and Siemens Energy. Additional growth strategies such as expansion of production capacities, acquisition, collaboration, joint venture, and partnership in the development of the innovative products from manufacturers have helped to attain key developments in the global offshore wind turbine market trends.

Key Findings of the Study

  • As per Offshore Wind Turbine Market Analysis, the large (greater than 100MW) segment accounted for 75.04% offshore wind turbine market share in 2021, and is anticipated to grow at a rate of 8.12% in terms of revenue, increasing its share in the global offshore wind turbine market during the forecast period.
  • The industrial segment is the fastest-growing application segment in the global offshore wind turbine market, and is expected to grow at a CAGR of 7.97% during 2022-2031.
  • In 2021, Asia-Pacific region dominated the global offshore wind turbine market with more than 41.4% of the share, in terms of revenue.

IMPACT OF COVID-19 ON THE GLOBAL OFFSHORE WIND TURBINE MARKET

  • Emergence of COVID-19 had a negative impact on the growth of the offshore wind turbine market during this period.
  • This impact is mostly attributed to the significant disruptions in the raw material transportation, presence of low-labor, led to shutdown of many manufacturing industries led to decline of demand power hence decrease in the demand for offshore wind turbine market during this period.
  • The decrease in demand for many non-essential products and shut down of electrical, automotive, and other manufacturing related industries has created a negative impact on the development of offshore wind turbine market
  • The increasing demand for environment friendly manufacturing products and increase in awareness among the people towards the environment will hamper the growth of offshore wind turbine market.
  • Thus, the abovementioned factors are expected to have great impact on the development of offshore wind turbine market growth in this forecast period.

Companies Mentioned

  • Enercon GmbH
  • General Electric
  • Goldwind
  • Nordex Se
  • Regen Powertech
  • Sinovel Wind Group
  • Suzlon Energy Limited
  • Zhejiang Windey
  • Vestas
  • Siemens Energy

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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Table Information

Report AttributeDetails
No. of Pages299
PublishedJune 2022
Forecast Period2021 - 2031
Estimated Market Value ( USD ) in 2021 $ 17.8 billion
Forecasted Market Value ( USD ) by 2031 $ 39.2 billion
Compound Annual Growth Rate8.2%
Regions CoveredGlobal
No. of Companies Mentioned10

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