Offshore Wind Power Market by Type, Product Type and Geography - Forecast and Analysis 2023-2027

  • Published: Dec 2022
  • Pages: 167
  • SKU: IRTNTR45310

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Offshore Wind Power market growth will increase by $30744.65 million during 2023-2027.
The offshore wind power market is expected to grow at a CAGR of 17.59% during 2023-2027.
Technavio has segmented the offshore wind power market by type (Monopile, Jacket, and Others) ,product type (Fixed structure, Floating structure, North America, South America, and MEA) , and geography (Europe, APAC, North America, South America, and Middle East and Africa).
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, Sinovel Wind Group Co. Ltd., Verdict Media Limited, Vestas Wind Systems AS, Xinjiang Goldwind Science and Technology Co. Ltd., Prysmian Spa are a few of the key vendors in the offshore wind power market.
Europe will register the highest growth rate of 53.46% among the other regions. Therefore, the offshore wind power market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the offshore wind power market growth are:
  • Rise in global energy demand
  • Rising popularity of clean energy technologies
The offshore wind power market vendors should focus on grabbing business opportunities from the Monopile segment as it accounted for the largest market share in the base year.
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