Offshore Wind Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2021 to 2027

The Global Offshore Wind Market size is expected to reach USD 114.0 Billion by the end of 2027 from an approximated USD 36.1 Billion, with a growing CAGR of 19% from 2021 to 2027.

Offshore wind power provides electrical energy to the continental shelf to harvest wind energy. Wind speeds are generally stronger and more stable offshore than on land. Offshore wind turbines are also located near coastal areas, eliminating the need for new onshore transmission lines. Since the potential energy of the wind is directly proportional to the cube of the wind speed, a slight increase in wind speed can generate much larger amounts of electricity. For example, a turbine on a site with an average wind speed of 16 miles per hour (mph) produces about 50% more electricity than the average speed of the same turbine of 14 mph.

Market Segmentation

By Application

Based on the application, the market is segmented into tower, turbines, electrical infrastructure, nacelle, and blades

 By End-Users

Based on the propulsion types, the market is segmented into three types shallow water, transitional water, and deep water

Major Players in the Global Offshore Wind Market:

Siemens AG (Germany), ABB, Ltd. (Switzerland), A2Sea (Denmark), Nexans (France), EEW Group (Germany), and General Electric (U.S.) among others.

Scope of the Report

The research study analyzes the global Offshore Wind industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Offshore Wind Market Report

1. What was the Offshore Wind Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027). 2. What will be the CAGR of Offshore Wind Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Offshore Wind Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.