Top Companies in Offshore Wind Energy Market | Industry Major Players In-depth Forecast Report 2022-2030 | Vantage Market Research
Offshore Wind Energy, often known as offshore wind power, is the harvesting of wind energy for electricity generation from wind farms built off the coast or on the continental shelf.
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MARKET OVERVIEW
The Global Offshore Wind Energy Market is valued at USD 31.2 Billion in the year 2021 and is projected to reach a value of USD 60.9 Billion by the year 2028. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 11.8% over the forecast period.
The Global Offshore Wind Turbines Market is experiencing significant growth due to higher energy efficiency compared to coastal wind power, technological advances in coastal infrastructure, and increased investment and sound policies for offshore wind power generation. Continued advances in Offshore Wind Turbines have been made in turbine technology to increase turbine capacity and produce more energy, with emphasis on achieving significant cost reductions.
Various factors such as the growth of green energy awareness, the use of various wind energy, etc. have a significant impact on the growth of the wind energy market on the coast. The market is growing rapidly as coastal winds are much stronger than in a country that puts in a more reliable energy source. Coastal wind farms provide renewable energy without the use of water and do not emit pollutants or any harmful gases. The future growth of the Offshore Wind Energy Market is predicted to grow due to growing technological advances and the renaming of offshore wind farms and government incentives around the world. In addition, government support programs and investments related to wind power generation are also expected to create significant market opportunities.
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Some of the key players operating in the Offshore Wind Energy Market are listed below:
|
Company Name |
Revenue in USD |
|
$11 Billion |
|
$17 Billion |
|
$6 Billion |
|
$15 Billion |
|
$17 Million |
|
<$5 Million |
|
$680 Million |
|
$6 Billion |
|
$813 Million |
Siemens Gamesa Renewable Energy S.A., formerly Gamesa Corporation Tectological S.A. and Grupo Auxiliar Metallurgic S.A., is a Spanish-German wind engineering company based in Zamudio, Biscay, Spain. It manufactures wind turbines and provides onshore and offshore wind services. It is the world's second-largest wind turbine manufacturer. Siemens Wind Power is a wind power technology branch of Siemens AG, a German multinational engineering and electronics conglomerate company headquartered in Berlin and Munich.
Vestas Wind Systems A/S is a Danish manufacturer, seller, installer, and servicer of wind turbines that was founded in 1945. The company operates manufacturing plants in Denmark, Germany, the Netherlands, Taiwan, India, Italy, Romania, the United Kingdom, Spain, Sweden, Norway, Australia, China, Brazil, Poland, and the United States, and employs more than 25,000 people globally. Vestas Wind Systems A/S is a Denmark-based company active within the wind power industry. The Company operates through two segments, Project and Service. The Project segment is responsible for the sale of wind power plants and wind turbines, among others. The Service segment contains provision of services related to the Company's offer, as well as the sale of spare parts and other activities.
Xinjiang Goldwin Science & Technology Co., Ltd., commonly known as Goldwind, is a Chinese multinational wind turbine manufacturer headquartered in Beijing, China. Goldwind was a state-owned enterprise before 2007, with the largest shareholders including Hexie Health Insurance, China Three Gorges Renewables Group, and the National Social Security Fund, state-controlled corporations holding almost 40% shares. Its founder, Wu Gang, is a Communist Party member and had a seat in the 12th National People's Congress. There are 458 companies in the Xinjiang Goldwin Science & Technology Co., Ltd., corporate family.
GE Wind Energy, LLC is located in Tehachapi, CA, United States, and is part of the Engine, Turbine, and Power Transmission Equipment Manufacturing Industry. There are 4,412 companies in the GE Wind Energy, LLC corporate family. GE Wind Energy is a branch of GE Renewable Energy, a subsidiary of General Electric. The company manufactures and sells wind turbines to the international market. In 2018, GE was the fourth-largest wind turbine manufacturer in the world.
Sinovel Wind Group Company is a Chinese wind turbine manufacturer headquartered in Beijing. It is one of the largest wind turbine manufacturers in China and by 2011 market share was the second largest in the world. The company aims to be the largest turbine maker by 2015 with half of its sales for foreign markets. Donghai Bridge Wind Farm, the first offshore wind farm in China, began operation in July 2010 using 34 3 MW Sinovel turbines. In December 2010, the Massachusetts Water Resources Authority ordered a 1.5 MW wind turbine to power a wastewater pumping station in Charlestown, Boston.
Ørsted A/S (formerly DONG Energy) is a Danish multinational power company based in Fredericia, Denmark. It is the largest energy company in Denmark. The company adopted its current name on 6 November 2017. As of January 2022, the company is one of the world's largest developers of offshore wind power by the amount of built offshore wind farms. Ørsted developed approximately 30% of the global offshore wind power installed capacity, excluding mainland China. Globally, Ørsted produces 90% of its energy from renewable sources and has an objective of exceeding 95% by 2023 and 99% by 2025.
Suzlon Energy Limited is an Indian multinational wind turbine manufacturer based in Pune, India. The Suzlon Group provides alternate energy generation equipment and services. The Company manufactures and distributes wind turbines and generators for offshore and onshore energy applications, as well as maintenance and repair services. The Suzlon Group serves customers worldwide. Presence in 17 countries across Asia, Australia, Europe, Africa, and the Americas, Suzlon is powering a greener tomorrow with its strong competencies in renewable energy systems.
Nordex SE is a European company that designs, sells, and manufactures wind turbines. The company's headquarters is located in the German city of Rostock while management is situated in Hamburg. Production takes place in Rostock as well as in China and in the city of Heroica Matamoros, Tamaulipas, state of Tamaulipas, México for a brief time in Jonesboro, Arkansas. The company was founded in 1985 in giving, Denmark. Since then, the company has steadily grown. In 1995 Nordex was one of the first companies to mass-produce a 1 MW turbine booster. The company Südwind Babcock-Borsig has been fully implanted into Nordex on October 1, 2001.
Ming Yang Wind Power Group Limited is one of the largest private wind turbine manufacturers in China and the fifth-largest overall in the country. The company was listed on the New York Stock Exchange from 1 October 2010 to June 22, 2016. The company started wind turbine production in 2007, with a prototype of 1.5 MW designed by aerodyne. The Company’s products consist of basic models of wind turbines, each with a rated power capacity of 1.5 megawatts (MW); wind turbines with a rated power capacity of 2.0MW, and 2.5/3.0MW SCD wind turbines.
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