Market Overview:
The global offshore power grid system 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 electricity and the need for reliable and efficient transmission systems. The market is segmented by type, application, and region. By type, the market is segmented into cables, variable speed drives (VSDs), transformers, switchgears, and others. By application, the market is divided into captive generation and wind power generation segments. Geographically speaking, North America leads the global offshore power grid system market followed by Europe due to increased investments in renewable energy sources in these regions.
Product Definition:
An offshore power grid system is a network of electrical transmission lines and substations that transfers power from onshore generating plants to consumers located offshore. The importance of an offshore power grid system is twofold. First, it allows for the development of coastal communities by bringing them access to reliable, affordable electricity. Second, it helps reduce the environmental impact of traditional onshore generation methods by transferring some of the load to more remote locations.
Cables:
Cables are used for transmission of electrical energy from one point to another. They are made up of high tensile strength material and can carry a huge amount of electric current. Cables have high resistance power against water, air, lightening and other natural elements which makes them more reliable in nature.
Variable Speed Drives:
The variable speed drives (VSDs) are the electrical systems that change the speed of a turbine according to the power demand. The VSDs are used in offshore wind farms to generate electricity. They help in increasing power generation efficiency and decrease energy consumption for maintaining constant turbine speeds, thus reducing operational costs.
Application Insights:
The others application segment includes the applications of onshore and offshore grids. The other applications include captive generation, wind power, and others. Offshore grid systems are widely used for providing electricity from a central generating station to remote areas or islands where it is scarce. These systems have been witnessing significant adoption in countries such as the U.S., China, India, South Korea, Germany etc., owing to growing demand for renewable energy sources across these regions.
Captive generation is one of the major uses of offshore grids due to its ability to provide base load power with high reliability required in many industrial processes and critical facilities along with ancillary services such as frequency regulation.
Regional Analysis:
Asia Pacific offshore power grid system market is expected to witness significant growth over the forecast period owing to increasing demand for electricity in countries, such as China and India. The region accounted for over 50% of the overall revenue share in 2017. Increasing investments by foreign players coupled with favorable government policies are some factors driving regional growth. For instance, In January 2018, Siemens signed a contract with Huaneng Power Investment Co., Ltd., (HPIC) for the supply of power turbines based on HVAC technology that will be installed at Sichuan Three Gorges Project in China.
North America was estimated to account for a significant market share due to early adoption of technologies across various sectors including oil & gas and wind farms along with supportive government initiatives pertaining to renewable energy generation sources across U.S.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization
- Government initiatives and policies to promote renewable energy sources
- Rising concerns over climate change and its impact on the environment
- Development of new technologies that make offshore power grids more efficient and cost-effective
- Growing demand for clean, sustainable, and reliable energy sources
Scope Of The Report
Report Attributes
Report Details
Report Title
Offshore Power Grid System Market Research Report
By Type
Cables, Variable Speed Drives, Transformers, Switchgears, Others
By Application
Captive Generation, Wind Power, Others
By Companies
FMC Technologies, ABB, General Electrics, Aker Solutions, Cameron International, Siemens, ..., ...
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
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Offshore Power Grid System Market Report Segments:
The global Offshore Power Grid System market is segmented on the basis of:
Types
Cables, Variable Speed Drives, Transformers, Switchgears, Others
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
Captive Generation, Wind Power, Others
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:
- FMC Technologies
- ABB
- General Electrics
- Aker Solutions
- Cameron International
- Siemens
- ...
- ...
Highlights of The Offshore Power Grid System 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:
- Cables
- Variable Speed Drives
- Transformers
- Switchgears
- Others
- By Application:
- Captive Generation
- Wind Power
- Others
- 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 Offshore Power Grid System 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
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
An offshore power grid system is a type of electrical grid that uses electricity from offshore wind and solar farms to provide power to coastal communities. Offshore wind and solar farms can be located far out at sea, where the water is deep enough for turbines and the sun shines brightly all year long. This makes an offshore power grid system a reliable source of energy, since it doesn’t rely on traditional sources like coal or oil.
Some of the major players in the offshore power grid system market are FMC Technologies, ABB, General Electrics, Aker Solutions, Cameron International, Siemens.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Offshore Power Grid System 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. Offshore Power Grid System Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Offshore Power Grid System Market - Supply Chain
4.5. Global Offshore Power Grid System Market Forecast
4.5.1. Offshore Power Grid System Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Offshore Power Grid System Market Size (000 Units) and Y-o-Y Growth
4.5.3. Offshore Power Grid System Market Absolute $ Opportunity
5. Global Offshore Power Grid System 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. Offshore Power Grid System Market Size and Volume Forecast by Type
5.3.1. Cables
5.3.2. Variable Speed Drives
5.3.3. Transformers
5.3.4. Switchgears
5.3.5. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Offshore Power Grid System 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. Offshore Power Grid System Market Size and Volume Forecast by Application
6.3.1. Captive Generation
6.3.2. Wind Power
6.3.3. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Offshore Power Grid System 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. Offshore Power Grid System 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 Offshore Power Grid System 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. Offshore Power Grid System 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 Offshore Power Grid System Demand Share Forecast, 2019-2029
9. North America Offshore Power Grid System 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 Offshore Power Grid System 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 Offshore Power Grid System Market Size and Volume Forecast by Application
9.4.1. Captive Generation
9.4.2. Wind Power
9.4.3. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Offshore Power Grid System Market Size and Volume Forecast by Type
9.7.1. Cables
9.7.2. Variable Speed Drives
9.7.3. Transformers
9.7.4. Switchgears
9.7.5. Others
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 Offshore Power Grid System Demand Share Forecast, 2019-2029
10. Latin America Offshore Power Grid System 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 Offshore Power Grid System 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 Offshore Power Grid System Market Size and Volume Forecast by Application
10.4.1. Captive Generation
10.4.2. Wind Power
10.4.3. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Offshore Power Grid System Market Size and Volume Forecast by Type
10.7.1. Cables
10.7.2. Variable Speed Drives
10.7.3. Transformers
10.7.4. Switchgears
10.7.5. Others
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 Offshore Power Grid System Demand Share Forecast, 2019-2029
11. Europe Offshore Power Grid System 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 Offshore Power Grid System 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 Offshore Power Grid System Market Size and Volume Forecast by Application
11.4.1. Captive Generation
11.4.2. Wind Power
11.4.3. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Offshore Power Grid System Market Size and Volume Forecast by Type
11.7.1. Cables
11.7.2. Variable Speed Drives
11.7.3. Transformers
11.7.4. Switchgears
11.7.5. Others
11.8. Basis Point Share (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 Offshore Power Grid System Demand Share, 2019-2029
12. Asia Pacific Offshore Power Grid System 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 Offshore Power Grid System 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 Offshore Power Grid System Market Size and Volume Forecast by Application
12.4.1. Captive Generation
12.4.2. Wind Power
12.4.3. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Offshore Power Grid System Market Size and Volume Forecast by Type
12.7.1. Cables
12.7.2. Variable Speed Drives
12.7.3. Transformers
12.7.4. Switchgears
12.7.5. Others
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 Offshore Power Grid System Demand Share, 2019-2029
13. Middle East & Africa Offshore Power Grid System 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 Offshore Power Grid System 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 Offshore Power Grid System Market Size and Volume Forecast by Application
13.4.1. Captive Generation
13.4.2. Wind Power
13.4.3. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Offshore Power Grid System Market Size and Volume Forecast by Type
13.7.1. Cables
13.7.2. Variable Speed Drives
13.7.3. Transformers
13.7.4. Switchgears
13.7.5. Others
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 Offshore Power Grid System Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Offshore Power Grid System Market: Market Share Analysis
14.2. Offshore Power Grid System Distributors and Customers
14.3. Offshore Power Grid System Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. FMC Technologies
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. ABB
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. General Electrics
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Aker Solutions
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Cameron International
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Siemens
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. ...
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. ...
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
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
