Dublin, April 21, 2025 (GLOBE NEWSWIRE) -- The "Offshore Wind Power Market Report 2025-2035" has been added to ResearchAndMarkets.com's offering.
According to the latest study, the Offshore Wind Power Market is projected to surpass USD 56 billion by 2025, with robust growth anticipated through 2035. This report provides detailed insights into market dynamics, key players, and future prospects, positioned to be a crucial resource for companies aiming to tap into new revenue streams and expand their operations in emerging regions.
Growing Renewable Energy Industry to Provide Key Opportunities in Near Future
Renewable energy technologies, including solar, wind, hydro, geothermal, and bioenergy, are undergoing continuous evolution, enhancing their efficiency, affordability, and accessibility. Technological innovations are driving significant improvements in energy capture, storage, and distribution, making renewable sources increasingly competitive with fossil fuels.
Over the years, the cost of renewable energy generation has steadily decreased, with solar and wind energy becoming particularly cost-effective in many regions. As the prices of renewable technologies continue to fall, they are poised to become even more economically viable compared to traditional fossil fuels. This trend is expected to drive broader adoption across consumers and industries, as the transition to clean energy solutions becomes more accessible and financially attractive. Additionally, the growing emphasis on sustainability and reducing carbon footprints is likely to further accelerate the adoption of renewable energy technologies in both the public and private sectors.
High Capital Cost Associated With Offshore Wind Power
The high capital cost of offshore wind power presents a significant challenge for the industry. Building and installing offshore turbines requires complex engineering and specialized infrastructure, such as foundations, substructures, and transmission cables, which are more expensive than onshore counterparts. The installation process is further complicated by the marine environment, necessitating robust foundations to withstand harsh conditions like strong winds and saltwater corrosion.
Various foundation types, including monopile, jacket, and floating foundations, are used depending on water depth and site conditions, each with its own cost implications. Monopiles are most common in shallow waters but require significant material and installation efforts. Jackets, designed for deeper waters, offer greater stability but are more complex to engineer. Floating foundations, though still in development, are used for very deep waters but come with high costs.
Forecasts to 2035 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2035, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), porter's five forces model, and recent developments.
Segments Covered:
- Location: Shallow Water, Transitional Water, Deep Water
- Component: Turbines, Electrical Infrastructure, Substructure, Others
The report also includes profiles for some of the leading companies in the Offshore Wind Power Market, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- ABB
- DEME Group
- Doosan Enerbility
- EEW Group
- Envision Group
- General Electric
- Goldwind
- Hitachi Energy Ltd.
- Nexans
- Nordex
- RENOVA
- Rockwell Automation
- Shanghai Electric Wind Power Equipment Co., Ltd.
- Siemens Gamesa
- Vestas Wind Systems A/S
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2035 for Offshore Wind Power Market, with forecasts for location and component each forecast at a country level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2035 for 17 key national markets - See forecasts for the Offshore Wind Power Market market in China, UK, Germany, Netherlands, Denmark, Belgium, France, Vietnam, Taiwan, Japan, Sweden, South Korea, Finland, USA, Italy, Portugal, and Ireland.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Offshore Wind Power Market.
Key Topics Covered:
1 Report Overview
2 Executive Summary
3 Market Overview
3.1 Key Findings
3.2 Impact Analysis
3.2.1 Market Driving Factors
3.2.1.1 Offshore Wind Power Favourable Policies to Drive the Market Growth
3.2.1.2 Advancements in Offshore Wind Turbine Technology
3.2.1.3 Grid Integration and Energy Storage to Drive Offshore Wind Power Industry
3.2.2 Market Restraining Factors
3.2.2.1 High Capital Cost Associated With Offshore Wind Power
3.2.2.2 Technical and Logistical Challenges in Offshore Wind Turbine Installation and Maintenance
3.2.3 Market Opportunities
3.2.3.1 Government Initiatives To Reduce Carbon Emissions
3.2.3.2 Growing Renewable Energy Industry
3.2.3.3 Offshore Wind Expansion into Emerging Markets
3.3 Porter's Five Forces Analysis
3.4 PEST Analysis
4 Offshore Wind Power Market Analysis by Location
4.1 Key Findings
4.2 Location Segment: Market Attractiveness Index
4.3 Offshore Wind Power Market Size Estimation and Forecast by Location
4.4 Shallow Water
4.5 Transitional Water
4.6 Deep Water
5 Offshore Wind Power Market Analysis by Component
5.1 Key Findings
5.2 Component Segment: Market Attractiveness Index
5.3 Offshore Wind Power Market Size Estimation and Forecast by Component
5.4 Turbines
5.5 Electrical Infrastructure
5.6 Substructure
5.7 Other Components
6 Offshore Wind Power Market Analysis by Region
6.1 Key Findings
6.2 Regional Market Size Estimation and Forecast
6.3 Global Offshore Wind Farms Put into Operation
6.4 Offshore Wind Farms Under Construction
7 China Offshore Wind Power Market Analysis
8 UK Offshore Wind Power Market Analysis
9 Germany Offshore Wind Power Market Analysis
10 Netherlands Offshore Wind Power Market Analysis
11 Denmark Offshore Wind Power Market Analysis
12 Belgium Offshore Wind Power Market Analysis
13 France Offshore Wind Power Market Analysis
14 Vietnam Offshore Wind Power Market Analysis
15 Taiwan Offshore Wind Power Market Analysis
16 Japan Offshore Wind Power Market Analysis
17 Sweden Offshore Wind Power Market Analysis
18 South Korea Offshore Wind Power Market Analysis
19 Finland Offshore Wind Power Market Analysis
20 USA Offshore Wind Power Market Analysis
21 Italy Offshore Wind Power Market Analysis
22 Portugal Offshore Wind Power Market Analysis
23 Ireland Offshore Wind Power Market Analysis
24 Rest of the World Offshore Wind Power Market Analysis
25 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/6gt5mr
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