Market Overview:
The global floating offshore wind power market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for clean and renewable energy sources, rising concerns over climate change, and supportive government policies across the globe. The floating offshore wind power market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into turbines, floating foundations, anchoring systems, and other components. The turbines segment is expected to hold a major share in terms of revenue in 2018 owing to their high efficiency as compared to other types of turbines available in the market.
Product Definition:
Floating offshore wind power is the use of floating platforms to support the turbines used in offshore wind farms. The turbines are placed in water too deep for traditional fixed-foundation systems, so a floating platform is used to provide a stable base. Floating offshore wind power is important because it allows for the development of offshore wind farms in deeper waters, where there is more room for turbines and less turbulence from waves and currents.
Turbines:
Turbines are used in floating offshore wind power plants for the generation of electricity. They are basically a mechanical device that aids in converting the kinetic energy generated from moving water into electrical energy. The turbine blades capture and convert the wind's kinetic energy into useful power which is further transmitted to an onshore station by means of underwater cables or land-based transmission lines.
Floating Foundations:
Floating foundations are used in the construction of offshore wind power plants. They are a part of the marine structure that is used to support floating wind turbines. The foundation for these turbines is placed in water and it is connected to the land by an elevated platform, which helps in reducing maintenance costs and also reduces impact on environment during operations.
Application Insights:
The shallow water application segment accounted for the largest market share of over 70% in 2017. The segment is expected to witness significant growth owing to the increasing need for electricity generation from renewable sources and growing focus on green energy generation. Increasing government support towards installation of wind turbines in deepwater applications is expected to drive demand over the forecast period.
Deepwater applications are anticipated to witness a CAGR of XX% from 2018 to 2030 due largelyto increased costs associated with installation and maintenance as well as technological challenges involved in installing such systems at sea depths greater than 80 meters. However, once commercialized such systems would prove suitable for both shallow water and deepwater installations thereby opening up new opportunities for industry expansion over the coming years.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. China and Japan are among the largest markets in Asia Pacific region owing to supportive government policies and increasing electricity demand from industrial sector. In addition, growing population coupled with rising energy consumption has led to an increase in electricity demand across countries such as India, Indonesia, Thailand, Philippines etc., which will further boost industry growth over next eight years.
Europe accounted for a significant share of global revenue in 2017 owing to large scale adoption of floating wind farms by Denmark (19 MW), Germany (20 MW), Belgium (26 MW) and Sweden (30 MW). These countries have installed more than 300 turbines across water bodies nearshore waters between 1 meter depth up till 12 meters depth. However, U.K.
Growth Factors:
- Increasing demand for clean and renewable energy: The global increase in electricity consumption, especially in emerging economies, is driving the demand for clean and renewable energy sources such as floating offshore wind power.
- Government initiatives and subsidies: Governments are promoting the use of clean energy through various initiatives and subsidies, which is aiding the growth of the floating offshore wind power market.
- Declining costs of technology: The cost of technology for floating offshore wind power is declining rapidly due to advancements in technology and increased competition among vendors. This is resulting in an increase in installations of floating offshore wind turbines globally.
- Availability of suitable sites: There are many suitable sites around the world for installing floating offshore wind turbines, owing to their deep water locations near coastal areas with strong winds speeds.
Scope Of The Report
Report Attributes
Report Details
Report Title
Floating Offshore Wind Power Market Research Report
By Type
Turbines, Floating Foundations, Anchoring Systems, Other
By Application
Shallow Water, Deepwater
By Companies
ABB, Siemens, MHI Vestas Offshore Wind, Doosan Heavy Industries and Construction, General Electric Company, Nexans, A2 SEA, Eew Group, Senvion, Adwen
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Floating Offshore Wind Power Market Report Segments:
The global Floating Offshore Wind Power market is segmented on the basis of:
Types
Turbines, Floating Foundations, Anchoring Systems, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Shallow Water, Deepwater
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Siemens
- MHI Vestas Offshore Wind
- Doosan Heavy Industries and Construction
- General Electric Company
- Nexans
- A2 SEA
- Eew Group
- Senvion
- Adwen
Highlights of The Floating Offshore Wind Power Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Turbines
- Floating Foundations
- Anchoring Systems
- Other
- By Application:
- Shallow Water
- Deepwater
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Floating Offshore Wind Power Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Floating offshore wind power is a type of offshore wind power that uses floating turbines to generate electricity. These turbines are mounted on floating platforms that are anchored in the water and can be moved around to capture the best winds.
Some of the major companies in the floating offshore wind power market are ABB, Siemens, MHI Vestas Offshore Wind, Doosan Heavy Industries and Construction, General Electric Company, Nexans, A2 SEA, Eew Group, Senvion, Adwen.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Floating Offshore Wind Power Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Floating Offshore Wind Power Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Floating Offshore Wind Power Market - Supply Chain
4.5. Global Floating Offshore Wind Power Market Forecast
4.5.1. Floating Offshore Wind Power Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Floating Offshore Wind Power Market Size (000 Units) and Y-o-Y Growth
4.5.3. Floating Offshore Wind Power Market Absolute $ Opportunity
5. Global Floating Offshore Wind Power Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Floating Offshore Wind Power Market Size and Volume Forecast by Type
5.3.1. Turbines
5.3.2. Floating Foundations
5.3.3. Anchoring Systems
5.3.4. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Floating Offshore Wind Power Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Floating Offshore Wind Power Market Size and Volume Forecast by Application
6.3.1. Shallow Water
6.3.2. Deepwater
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Floating Offshore Wind Power Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Floating Offshore Wind Power Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Floating Offshore Wind Power Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Floating Offshore Wind Power Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Floating Offshore Wind Power Demand Share Forecast, 2019-2026
9. North America Floating Offshore Wind Power Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Floating Offshore Wind Power Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Floating Offshore Wind Power Market Size and Volume Forecast by Application
9.4.1. Shallow Water
9.4.2. Deepwater
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Floating Offshore Wind Power Market Size and Volume Forecast by Type
9.7.1. Turbines
9.7.2. Floating Foundations
9.7.3. Anchoring Systems
9.7.4. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Floating Offshore Wind Power Demand Share Forecast, 2019-2026
10. Latin America Floating Offshore Wind Power Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Floating Offshore Wind Power Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Floating Offshore Wind Power Market Size and Volume Forecast by Application
10.4.1. Shallow Water
10.4.2. Deepwater
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Floating Offshore Wind Power Market Size and Volume Forecast by Type
10.7.1. Turbines
10.7.2. Floating Foundations
10.7.3. Anchoring Systems
10.7.4. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Floating Offshore Wind Power Demand Share Forecast, 2019-2026
11. Europe Floating Offshore Wind Power Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Floating Offshore Wind Power Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Floating Offshore Wind Power Market Size and Volume Forecast by Application
11.4.1. Shallow Water
11.4.2. Deepwater
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Floating Offshore Wind Power Market Size and Volume Forecast by Type
11.7.1. Turbines
11.7.2. Floating Foundations
11.7.3. Anchoring Systems
11.7.4. Other
11.8. Basis Point hare (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Floating Offshore Wind Power Demand Share, 2019-2026
12. Asia Pacific Floating Offshore Wind Power Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Floating Offshore Wind Power Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Floating Offshore Wind Power Market Size and Volume Forecast by Application
12.4.1. Shallow Water
12.4.2. Deepwater
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Floating Offshore Wind Power Market Size and Volume Forecast by Type
12.7.1. Turbines
12.7.2. Floating Foundations
12.7.3. Anchoring Systems
12.7.4. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Floating Offshore Wind Power Demand Share, 2019-2026
13. Middle East & Africa Floating Offshore Wind Power Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Floating Offshore Wind Power Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Floating Offshore Wind Power Market Size and Volume Forecast by Application
13.4.1. Shallow Water
13.4.2. Deepwater
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Floating Offshore Wind Power Market Size and Volume Forecast by Type
13.7.1. Turbines
13.7.2. Floating Foundations
13.7.3. Anchoring Systems
13.7.4. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Floating Offshore Wind Power Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Floating Offshore Wind Power Market: Market Share Analysis
14.2. Floating Offshore Wind Power Distributors and Customers
14.3. Floating Offshore Wind Power Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. ABB
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Siemens
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. MHI Vestas Offshore Wind
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Doosan Heavy Industries and Construction
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. General Electric Company
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Nexans
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. A2 SEA
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Eew Group
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Senvion
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Adwen
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
