Doosan Heavy Industries & Construction Co. Ltd., Erndtebrücker Eisenwerk GmbH & Co. KG, General Electric Co., Hyundai Heavy Industries Co. Ltd., MHI Vestas Offshore Wind AS, Nexans SA, Nordex SE, Senvion SA, Siemens Gamesa Renewable Energy SA, and Sinovel Wind Group Co. Ltd. are some of the major market participants.
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Offshore Wind Power Market 2020-2024: Segmentation
- Type
- Geography
- Europe
- APAC
- North America
- South America
- MEA
The ease of installation of monopile structures in shallow-to-medium water depths is driving the growth of the market in the monopile segment. Moreover, the presence of prominent vendors with requisite technological expertise across the world will also contribute to the growth of the market segment. With a complete analysis of the upcoming growth opportunities, it has been estimated that the monopile segment will account for the largest share of the offshore wind power market.
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Vendor Analysis
The market is fragmented and key vendors in the market are focusing on R&D activities to increase their market share.
- Doosan Heavy Industries & Construction Co. Ltd.- The company offers WinDS3000, 3300 and WinDS5500 and is developing an 8MW+ model especially for offshore wind farm projects. These models offer strong reliability and availability, ease of maintenance and service, and low cost of electricity production.
- Erndtebrücker Eisenwerk GmbH & Co. KG- Through significant investments in special production halls and facilities at the Rostock plant, the company manufactures monopiles with diameters of up to 32.81 feet and piece weights of up to 1,500 tons. Moreover, acting as a general contractor, the company's offshore wind specialist (EEW SPC) manufactures complete transition piece structures in cooperation with partners and sub-suppliers.
- General Electric Co.- The company offers Haliade-X 12 MW- the combination of a bigger rotor, longer blades, and higher capacity factor of 12 MW makes the Haliade-X offshore wind turbine less sensitive to wind speed variations. This increases its predictability and the ability to generate more power at low wind speeds compared with other turbines.
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Offshore Wind Power Market 2020-2024: Scope
Our Offshore Wind Power Market report covers the following areas:
Offshore Wind Power Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist offshore wind power market growth during the next five years
- Estimation of the offshore wind power market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the offshore wind power market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of offshore wind power market vendors
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Offshore Wind Power Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18% |
Market growth 2020-2024 |
$ 20.06 billion |
Market structure |
Fragmented |
YoY growth (%) |
13.76 |
Regional analysis |
Europe, APAC, North America, South America, and MEA |
Performing market contribution |
Europe at 53% |
Key consumer countries |
UK, Germany, Belgium, US, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Doosan Heavy Industries & Construction Co. Ltd., Erndtebrücker Eisenwerk GmbH & Co. KG, General Electric Co., Hyundai Heavy Industries Co. Ltd., MHI Vestas Offshore Wind AS, Nexans SA, Nordex SE, Senvion SA, Siemens Gamesa Renewable Energy SA, and Sinovel Wind Group Co. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Monopile - Market size and forecast 2019-2024
- Jacket - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Doosan Heavy Industries & Construction Co. Ltd.
- Erndtebrücker Eisenwerk GmbH & Co. KG
- General Electric Co.
- Hyundai Heavy Industries Co. Ltd.
- MHI Vestas Offshore Wind AS
- Nexans SA
- Nordex SE
- Senvion SA
- Siemens Gamesa Renewable Energy SA
- Sinovel Wind Group Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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