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Offshore Wind Turbine Market Share

Report ID: GMI4771
Published Date: Apr 2023
Report Format: PDF

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Offshore Wind Turbine Market Share

Top participants involved in the offshore wind turbines business scenario are :

Vestas
Goldwind
General Electric
Suzlon Energy Limited
Siemens Gamesa Renewable Energy
WEG
NORDEX SE
Envision Group amongst

primarily engage in strategic acquisitions and partnerships with private and public energy development firms to stay ahead in the industry. For example, in January 2023, Siemens Gamesa Renewable Energy, a renewable energy solutions company, inked a supply agreement with RWE, a German electricity generation firm, to deploy 72 units of its SG 14-236 DD offshore wind turbines for the 1 GW project situated in Denmark. With this, the company strengthened its position and marked a strong presence in the industry.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of offshore wind turbine surpassed USD 15.59 million in 2023 and is anticipated to foresee 17.4% CAGR from 2024-2032 propelled by the increasing prevalence of large-scale renewable energy programs.

The fixed segment size reached over 13 GW in 2022 as a result of its advantageous characteristics such as low construction costs, reduced susceptibility to damage, cost-effectiveness, and the extensive use of shorter lines to transfer electricity to the shore.

The Europe market is estimated to reach 41 GW by 2032 owing to the strong regulatory environment and ongoing construction of large capacity projects at various sites in the region.

Key offshore wind turbine manufacturers are Vestas, Siemens Gamesa Renewable Energy, WEG, NORDEX SE, and Envision Group amongst others. These firms majorly engage in strategic acquisitions and partnerships to stay ahead in the business.