Offshore Wind Energy Market Trends, Application, Type, Mode of Operation, Covid-19 Impact and Global Forecast to 2027

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Offshore Wind Energy Market Size – USD 36.20 billion in 2019, Market Growth - CAGR of 15.2%.

VANCOUVER, BRITISH COLUMBIA, CANADA, October 12, 2021 / -- The global Offshore Wind Energy Market will be worth USD 106.10 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing trend of industrialization in developing economies. The rapid urbanization and the increasing demand for electricity in developing countries are expected to drive the offshore wind energy market demand.

Emergen Research’s latest document, titled ‘Global Offshore Wind Energy Market - Forecast to 2027,’ is one of the most sought-after market reports involving an in-depth analysis of the global Offshore Wind Energy market. The report’s authors have offered necessary details on the latest Offshore Wind Energy market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the Offshore Wind Energy industry entails useful insights into the estimated Offshore Wind Energy market size, revenue share, and sales & distribution networks.

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Market Dynamics:

The report offers insightful information about the market dynamics of the Offshore Wind Energy market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Offshore Wind Energy market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Offshore Wind Energy market.

Key Highlights From The Report

In February 2019, Vestas entered into a partnership with a local manufacturing service provider, Marand Precision Engineering, for Wind Turbine Assembly Facility in Geelong. The partnerships will help Vestas to expand its wind turbine assembly in the Victorian renewable energy sector.

The Fixed structure held the largest market share of 57.5% in the year 2019. Cost-effectiveness and ease of operation of the fixed structure have resulted in the segment's increasing demand.

Deep water (>60m Depth) is forecasted to grow with the fastest CAGR of 15.9% over the forecast period. The reductions in installations cost, improved engineering of turbines, and the development of turbines with floating substructures are expected to drive the segment's demand.

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Emergen Research has segmented the global Offshore Wind Energy Market on the basis of Installation, Location, Component, and region:

Installation Outlook (Revenue, USD Billion; 2017-2027)

Floating structure

Fixed Structure

Location Outlook (Revenue, USD Billion; 2017-2027)

Shallow Water (<30m depth)

Transitional Water (30m-60m Depth)

Deep Water (>60m Depth)

Component Outlook (Revenue, USD Billion; 2017-2027)



Electrical Infrastructure


Competitive Outlook:

The global Offshore Wind Energy market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector.  The global Offshore Wind Energy market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.

Some of the key participants in this industry include:

Vestas, General Electric Company, Adwen, Doosan Heavy Industries and Construction Co., Ltd, Siemens Gamesa Renewable Energy, S.A., Senvion SA, Sinovel Wind Group Co., ABB, Ltd., Nexans S.A., and Nordex SE, among others.

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Regional Analysis:

The report sheds light on the region expected to dominate the Offshore Wind Energy market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Offshore Wind Energy market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Table of Content

Chapter 1. Methodology & Sources

1.1. Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2019-2027

Chapter 3. Key Insights

Chapter 4. Offshore Wind Energy Market Segmentation & Impact Analysis

4.1. Offshore Wind Energy Market Segmentation Analysis

4.2. Industrial Outlook

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Key Objectives of the Report:

Analysis and estimation of the Offshore Wind Energy market size and share for the projected period of 2020-2027

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Offshore Wind Energy market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

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