Market Overview:
The global marine wind turbine market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for renewable energy sources and the rising concerns over climate change. The global marine wind turbine market is segmented on the basis of type, application, and region. On the basis of type, it is divided into vertical axis wind turbines (VAWTs) and horizontal axis wind turbines (HAWTs). VAWTs are more efficient than HAWTs when used in low-wind speed environments; however, HAWTs are more popular due to their lower installation costs. On the basis of application, it is segmented into commercial ships and military ships. Commercial ships include ferries, cruise liners, cargo vessels etc., while military ships include naval vessels and submarines etc. Geographically, it is analyzed across North America (U.S., Canada), Latin America (Mexico), Europe (Germany France Italy Spain U.K.), Asia Pacific (China India Japan South Korea Australia New Zealand), Middle East & Africa(GCC Countries Saudi Arabia South Africa Rest Of MEA).
Product Definition:
A marine wind turbine is a type of wind turbine that is specifically designed for use in offshore environments. Marine wind turbines are typically larger and more powerful than land-based turbines, and they are often used to generate electricity in areas where the winds are stronger and more consistent than those onshore. Marine wind turbines can also be used to power offshore operations such as oil and gas production platforms, or to provide energy for coastal communities.
Vertical Axis Wind Turbine:
Vertical Axis Wind Turbine (VAWT) is a wind turbine which is used to generate electricity in the form of power for commercial and residential use. It has vertical axis with main rotor shaft at the top which rotates when wind flows through it. The power generated by this turbine can be utilized to drive electric generators or used directly for residential and commercial purposes depending on its size.
Horizontal Axis Wind Turbine:
Horizontal Axis Wind Turbine (HAWT) is a type of wind turbine which has its rotor shaft horizontal and it's used to generate electricity in marine applications. The advantages of using HAWT over vertical axis wind turbines are that the former can be sited at a relatively lower height above the ground, thus reducing tower installation costs. Also, HAWT have fewer components making them lighter in weight and easier to install.
Application Insights:
The commercial ships segment dominated the global marine wind turbine market in terms of revenue share in 2017. The growing demand for electricity from cruise liners, ferries and coastal trading vessels is expected to drive the product demand over the forecast period. Furthermore, increasing government support for renewable energy generation is anticipated to propel industry growth over the coming years.
Military ships are projected to witness significant growth during the forecast period owing to rising concerns regarding greenhouse gas emissions and air pollution caused due to burning of fossil fuels by military aircrafts on a large scale. Moreover, deployment of vertical axis turbines would not only reduce these emissions but also generate power on a large scale thereby reducing fuel consumption and improving operational efficiency which will have an impact on industry growth during future years.
Regional Analysis:
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. The region accounted for a share of more than 30% in 2016 and is expected to witness significant growth owing to increasing government investments in marine energy, growing offshore projects, and favorable regulatory policies. For instance, In 2017, China’s State Power Investment Corporation (SOE) signed an agreement with Denmark's ‘DONG Energy A/S’ for building a large scale offshore wind power plant in Jiangsu Province of China. This project will have an installed capacity of around 1 billion kWh per year and is expected to be completed by 2020. Such developments are estimated to drive the demand for marine turbines across Asia Pacific over the next eight years.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Government policies and regulations supporting the use of renewable energy sources
- Rising prices of traditional fuels such as oil, gas, and coal
- Technological advancements that have led to the development of more efficient and reliable marine wind turbines
- Growing awareness about the benefits of using renewable energy sources
Scope Of The Report
Report Attributes
Report Details
Report Title
Marine Wind Turbine Market Research Report
By Type
Vertical Axis Wind Turbine, Horizontal Axis Wind Turbine
By Application
Commercial Ships, Military Ships
By Companies
TPI Composites, Leading Edge, Vestas Wind Systems, Sway Turbine, Eco Power Shop, Marlec, Nordex, StatOil Hydro
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
215
Number of Tables & Figures
151
Customization Available
Yes, the report can be customized as per your need.
Global Marine Wind Turbine Market Report Segments:
The global Marine Wind Turbine market is segmented on the basis of:
Types
Vertical Axis Wind Turbine, Horizontal Axis Wind Turbine
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
Commercial Ships, Military Ships
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:
- TPI Composites
- Leading Edge
- Vestas Wind Systems
- Sway Turbine
- Eco Power Shop
- Marlec
- Nordex
- StatOil Hydro
Highlights of The Marine Wind Turbine 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:
- Vertical Axis Wind Turbine
- Horizontal Axis Wind Turbine
- By Application:
- Commercial Ships
- Military Ships
- 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 Marine Wind Turbine 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Product & Brand Management
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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?
A marine wind turbine is a type of wind turbine that is used to generate power from the wind on boats and ships. Marine turbines are typically smaller and lighter than land-based turbines, which makes them more efficient in moving around on vessels. They also have greater range due to their ability to operate in deeper water.
Some of the major companies in the marine wind turbine market are TPI Composites, Leading Edge, Vestas Wind Systems, Sway Turbine, Eco Power Shop, Marlec, Nordex, StatOil Hydro.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Marine Wind Turbine Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Marine Wind Turbine Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Marine Wind Turbine Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Marine Wind Turbine Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Marine Wind Turbine Market Size & Forecast, 2020-2028
4.5.1 Marine Wind Turbine Market Size and Y-o-Y Growth
4.5.2 Marine Wind Turbine Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Vertical Axis Wind Turbine
5.2.2 Horizontal Axis Wind Turbine
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial Ships
6.2.2 Military Ships
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Marine Wind Turbine Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Marine Wind Turbine Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Vertical Axis Wind Turbine
9.6.2 Horizontal Axis Wind Turbine
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial Ships
9.10.2 Military Ships
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Vertical Axis Wind Turbine
10.6.2 Horizontal Axis Wind Turbine
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial Ships
10.10.2 Military Ships
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Vertical Axis Wind Turbine
11.6.2 Horizontal Axis Wind Turbine
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial Ships
11.10.2 Military Ships
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Vertical Axis Wind Turbine
12.6.2 Horizontal Axis Wind Turbine
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial Ships
12.10.2 Military Ships
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size 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 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Vertical Axis Wind Turbine
13.6.2 Horizontal Axis Wind Turbine
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial Ships
13.10.2 Military Ships
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Marine Wind Turbine Market: Competitive Dashboard
14.2 Global Marine Wind Turbine Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 TPI Composites
14.3.2 Leading Edge
14.3.3 Vestas Wind Systems
14.3.4 Sway Turbine
14.3.5 Eco Power Shop
14.3.6 Marlec
14.3.7 Nordex
14.3.8 StatOil Hydro
