Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Offshore Power Grid System Market by Type (Cables, Variable Speed Drives, Transformers, Switchgears, Others), By Application (Captive Generation, Wind Power, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Offshore Power Grid System Market by Type (Cables, Variable Speed Drives, Transformers, Switchgears, Others), By Application (Captive Generation, Wind Power, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 137865 3300 Energy & Power 377 246 Pages 4.7 (49)

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.

Global Offshore Power Grid System Industry Outlook

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 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


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


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:


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.


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:

  1. FMC Technologies
  2. ABB
  3. General Electrics
  4. Aker Solutions
  5. Cameron International
  6. Siemens
  7. ...
  8. ...

Global Offshore Power Grid System Market Overview

Highlights of The Offshore Power Grid System Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Cables
    2. Variable Speed Drives
    3. Transformers
    4. Switchgears
    5. Others
  1. By Application:

    1. Captive Generation
    2. Wind Power
    3. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. 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
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  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
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Global Offshore Power Grid System Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. 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 Overview Financials Developments Strategic Outlook
      14.4.2. ABB Overview Financials Developments Strategic Outlook
      14.4.3. General Electrics Overview Financials Developments Strategic Outlook
      14.4.4. Aker Solutions Overview Financials Developments Strategic Outlook
      14.4.5. Cameron International Overview Financials Developments Strategic Outlook
      14.4.6. Siemens Overview Financials Developments Strategic Outlook
      14.4.7. ... Overview Financials Developments Strategic Outlook
      14.4.8. ... Overview Financials Developments Strategic Outlook
      14.4.9. COMPANY9 Overview Financials Developments Strategic Outlook
      14.4.10. COMPANY 10 Overview Financials Developments Strategic Outlook
      14.4.11. COMPANY 11 Overview Financials Developments Strategic Outlook
      14.4.12. COMPANY 12 Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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