This report titled “Europe Offshore Wind Energy Market - Growth, Future Prospects, and Competitive Analysis, 2021 – 2029” offers strategic insights into the trends in offshore wind energy market in Europe along with the market size and forecast for the duration 2021 to 2029. The said research study incorporates in-depth analysis of market based on country.
The Europe offshore wind energy market is becoming increasingly competitive with growing number of mergers and collaborations between market players to reach full capabilities and gain international footprint. In addition, several players are also focused on developing their niche in the market. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across U.K., Germany, Denmark, Belgium, the Netherlands and Other European Countries.
By Country, the Europe offshore wind energy market is segmented as U.K., Germany, Denmark, Belgium, Netherlands, Sweden, and Rest of Europe. In addition, offshore wind turbine producing companies, energy and utilities companies, government organizations and academic organizations form the major client types for offshore wind energy. Market size (US$ Bn) (MW) and forecast for all the considered segmentation is presented in this report for the period 2021-2029 along with their respective CAGRs (%) for the forecast period 2021-2029.
In terms of geographical distribution, the Europe Offshore Wind Energy is studies for seven major regions namely, Germany, U.K., Denmark, Belgium, Netherlands, Sweden, and Rest of Europe market size and forecast for each country-level market are included in the report for the considered periods. To further elucidate, the geographical distribution of the Europe offshore wind energy market is performed as follows:
Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the Europe offshore wind energy market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with company profiles section. This section includes major information about the key companies engaged in development, and provision of offshore wind energy systems.
For the purpose of this study, the Europe offshore wind energy market is categorized into:
Europe offshore wind energy market is projected to witness robust growth owing to increasing investment in offshore wind energy projects. Rising energy demand and growing concerns over the emission of greenhouse gases is influencing the governments to promote the adoption renewable energy source such as wind and solar. Increasing investment in the offshore wind projects especially in Europe is anticipated to fuel the growth of offshore wind energy market. U.K. was the largest market for offshore wind energy in 2020 among all European countries. Increasing investment in offshore wind energy projects from private sector coupled with favorable government policies such as Energy Act, 2018 and establishment of Offshore Wind Cost Reduction Task Force to achieve levelised costs of offshore wind to £100 per MW/h by 2020 represent high growth for the offshore wind energy market during the forecast period (2021-2029). Germany is projected to be the fastest growing segment among all European countries during the forecast period. High number of approved and pipeline projects coupled with increasing investment from private sector in offshore wind energy is anticipated to fuel the growth of offshore wind energy in the region. The country is anticipated to witness addition of 4.5 GW capacity of installation offshore wind energy from under construction projects in next five years. Further, approval of new projects and pipeline projects is projected to expand the installation capacity to 9.4 GW by 2020. The country also holds second largest market share on terms of installation capacity in Europe. The country is projected to gain significant market share by 2023. Other regions such as Denmark and Netherlands are also anticipated to witness high growth during the forecast period (2021-2029).
