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2021
Floating Wind Turbine Market

Floating Wind Turbine Market by Foundation (Spar-buoy Foundation, Tension-leg platform (TLP) Foundation, Semi-submersible Foundation, and Others), Depth (Shallow Water (less than 60 m Depth) and Deep Water (higher than 60 m Depth)): Opportunity Analysis and Industry Forecast, 2020–2027

A07598
Pages: 255
Dec 2020 | 2651 Views
   
Author(s) : Ayushi Choudhary, Sagnik Chatterjee , Eswara Prasad
Tables: 155
Charts: 53
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Floating Wind Turbine Market Outlook - 2027

Global floating wind turbine market size was valued at $3.2 billion in 2019, and is projected to reach $30.6 billion by 2027, growing at a CAGR of 32.5% from 2020 to 2027. Floating wind turbine, a type of offshore wind turbine, is supported by a floating foundation where most of the mass is underwater. The mounted structure allows the wind turbine to generate electricity in water depth where fixed foundation is not applicable. The turbine is connected to the sea bed with the help of multiple mooring lines and anchors. Floating wind turbine is effective anywhere in deep water where depth is more than 60 meter. In addition, due to consistent wind flow at seashore, floating wind turbine is capable to generate electricity at steady rate unlike onshore wind turbine.

Though the pandemic situation led to delays in both blade production and wind turbine installations, implementation of digitization in remote monitoring of projects has minimized the impact on floating wind turbine market.

Significant surge in demand for renewable power sources is expected to drive the floating wind turbine market growth. In addition, floating wind turbine is cost effective and reduces carbon emission unlike conventional power sources. Furthermore, the floating wind turbine technology removes the constraint of water depth which aids in selecting the best site possible for power generation. For instance, in June 2017, Statoil, a Norwegian energy company invested $268 million for its Hywind turbine project. The project involved installation of floating wind turbines at 78 meter sea depth in north-east coast of Scotland. Additionally, floating wind turbine has a higher capacity factor than that of other onshore wind turbines. This is attributed to consistent power generation of floating wind turbine. For instance, the capacity factor for floating offshore wind turbine is 0.5-0.7 where the onshore wind turbine has capacity factor of around 0.25-0.3. However, installation of wind turbine with multiple mooring lines and anchors can be expensive. In addition, during heavy storms or hurricanes, the wind turbine may face severe damage. Nonetheless, technological advancements in wind turbine structure, such as “Twisted Jacket” foundation with fewer nodes and components may be permanent solution against heavy storm. The inward battered guide structure provides robust and secure structure, and also reduces installation cost. Such new development will create further opportunities in the market.

Floating-Wind-Turbine-Market-2020-2027

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The global floating wind turbine market is segmented on the basis of foundation and depth. On the basis of foundation, it is divided into spar-buoy, semi-submersible, and others. Based on depth, it is categorized into shallow water (less than 60 meter depth) and deep water (higher than 60 meter depth). Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA, with country level analysis of each region.

Major players have adopted product launch, business expansion, and acquisition to sustain the intense market competition. The key players profiled in the report include Siemens Gamesa Renewable, MHI Vestas Offshore Wind, Senvion SA, ABB group, GE Renewable Energy, and NORDEX SE.

Global Floating Wind Turbine Market, By Region

Europe accounted for highest revenue share and highest market growth, owing to rise in investments in countries like France, UK, and Norway. In addition, presence of major manufacturers, such as Siemens Gamesa Renewable, MHI Vestas Offshore Wind, Senvion SA, Adwen GmbH, and ABB group operating 75% of the global floating turbine projects will positively impact the market growth.

Floating Wind Turbine Market
By Region

2027
Europe 
North America
Asia-pacific
Lamea

Asia-Pacific exhibits CAGR of 33.9% during 2020-2027

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Global Floating Wind Turbine Market, By Foundation

The spar-buoy segment accounted for significant market share, owing to its simple design which can be easily fabricated. In addition, spar-buoy involves few number of welds and complicated components unlike semi-submersible-platform.

Floating Wind Turbine Market
By Foundation

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Semi-submersible foundation Floating Wind Turbine is projected as the most lucrative segment

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Global Floating Wind Turbine Market, By Depth

The deep water (>60 meter) is anticipated to dominate the floating wind turbine market during the forecast timeframe. The installation of deep water turbine offers large area with no constraint of water depth which aids in selecting the best site for power generation. Additionally, in some cases, due to narrow continental shelf, floating foundation is the only option for deployment of floating wind turbines.

Floating Wind Turbine Market
By Depth

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Shallow water segment is projected as the most lucrative segment

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COVID-19 scenario analysis:

  • The Covid-19 pandemic severely impacted the wind turbine manufacturing in countries like China, Germany. For instance, Germany's Nordex SE reported negative EBITDA of $86.5 million down from positive EBITDA $21 million in previous 
  • Additionally, limited availability of spares and manpower for maintenance is a major problem affecting the growth of the floating wind turbine market. During high wind season, planned maintenance became a major issue for industry players, owing to reduced labor force and social distancing norms. 
  • Furthermore, project delays and cancellation of orders further affected the key markets for both blade production and wind turbine installations. For instance, Siemens Gamesa Renewable Energy SA accounted for a net loss of $577 million during its fiscal third quarter in 2020. 
  • Average time for project completion is around 6-9 months for wind energy. But, due to unavailability of large labor force and permitting delays, most of these projects are at standstill position or pushed to the second half of the financial year
  • However, shifting trend towards domestic supply chain may reduce the dependency on foreign imports encouraging domestic production of wind turbines. Furthermore, implementation of digitization will aid in remote monitoring for project execution; thus, limiting the labor force as much as possible.

Key benefits for stakeholders:

  • The global floating wind turbine market analysis covers in-depth information of major industry participants.
  • Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
  • Major countries have been mapped according to their individual revenue contribution to the regional market.
  • The report provides in-depth analysis of the global floating wind turbine market for the period 2020–2027.
  • The report outlines the current floating wind turbine market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets. 
  • Key drivers, restraints, & opportunities and their detailed impact analysis of the global floating wind turbine market are explained in the study.

Key market segments 

By Foundation

  • Spar-buoy
  • Semi-submersible
  • Others

By Depth

  • Shallow Water (less than 60 m Depth) 
  • Deep Water (higher than 60 m Depth)

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • Belgium
    • Denmark
    • Netherland
    • Rest of Europe
  • Asia-Pacific
    • China
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Brazil
    • Egypt
    • South Africa
    • Kenya
    • Rest of LAMEA
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO perspective

CHAPTER 3:MARKET LANDSCAPE

3.1.Market definition and scope
3.2.Key findings

3.2.1.Top investment pockets

3.3.Porter's five forces analysis
3.4.Market share analysis & top player positioning, 2019

3.4.1.Top player positioning, 2019

3.5.Market dynamics

3.5.1.Drivers

3.5.1.1.Surge in demand for renewable power sources
3.5.1.2.Higher capacity factor than that of other wind turbines
3.5.1.3.Environment friendly and reduced carbon emission

3.5.2.Restraint

3.5.2.1.High installation and maintenance cost

3.5.3.Opportunity

3.5.3.1.Advancements in wind turbine structure

3.6.Impact of Covid-19 Outburst on FLOATING WIND TURBINE MARKET

CHAPTER 4:FLOATING WIND TURBINE MARKET, BY FOUNDATION

4.1.Overview

4.1.1.Market size and forecast

4.2.Spar-buoy Foundation

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast, by region

4.3.Tension-leg platform (TLP) Foundation

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast, by region

4.4.Semi-submersible Foundation

4.4.1.Key market trends, growth factors, and opportunities
4.4.2.Market size and forecast, by region

4.5.Others

4.5.1.Key market trends, growth factors, and opportunities
4.5.2.Market size and forecast, by region

CHAPTER 5:FLOATING WIND TURBINE MARKET, BY DEPTH

5.1.Overview

5.1.1.Market size and forecast

5.2.Deep Water

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast, by region

5.3.Shallow Water

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast, by region

CHAPTER 6:FLOATING WIND TURBINE MARKET, BY REGION

6.1.Overview

6.1.1.Market size and forecast

6.2.North America

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast, BY Foundation
6.2.3.Market size and forecast, BY Depth

6.2.4.Market share analysis, by country

6.2.4.1.U.S.

6.2.4.1.1.Market size and forecast, BY Foundation
6.2.4.1.2.Market size and forecast, BY Depth

6.2.4.2.Canada

6.2.4.2.1.Market size and forecast, BY Foundation
6.2.4.2.2.Market size and forecast, BY Depth

6.2.4.3.Mexico

6.2.4.3.1.Market size and forecast, BY Foundation
6.2.4.3.2.Market size and forecast, BY Depth

6.3.Europe

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast, BY Foundation
6.3.3.Market size and forecast, BY Depth
6.3.4.Market share analysis, by country

6.3.4.1.Germany

6.3.4.1.1.Market size and forecast, BY Foundation
6.3.4.1.2.Market size and forecast, BY Depth

6.3.4.2.UK

6.3.4.2.1.Market size and forecast, BY Foundation
6.3.4.2.2.Market size and forecast, BY Depth

6.3.4.3.Belgium

6.3.4.3.1.Market size and forecast, BY Foundation
6.3.4.3.2.Market size and forecast, BY Depth

6.3.4.4.Denmark

6.3.4.4.1.Market size and forecast, BY Foundation
6.3.4.4.2.Market size and forecast, BY Depth

6.3.4.5.Netherlands

6.3.4.5.1.Market size and forecast, BY Foundation
6.3.4.5.2.Market size and forecast, BY Depth

6.3.4.6.Rest of Europe

6.3.4.6.1.Market size and forecast, BY Foundation
6.3.4.6.2.Market size and forecast, BY Depth

6.4.Asia-Pacific

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast, BY Foundation
6.4.3.Market size and forecast, BY Depth
6.4.4.Market share analysis, by country

6.4.4.1.China

6.4.4.1.1.Market size and forecast, BY Foundation
6.4.4.1.2.Market size and forecast, BY Depth

6.4.4.2.South Korea

6.4.4.2.1.Market size and forecast, BY Foundation
6.4.4.2.2.Market size and forecast, BY Depth

6.4.4.3.Rest of Asia-Pacific

6.4.4.3.1.Market size and forecast, BY Foundation
6.4.4.3.2.Market size and forecast, BY Depth

6.5.LAMEA

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast, BY Foundation
6.5.3.Market size and forecast, BY Depth
6.5.4.Market share analysis, by country

6.5.4.1.Brazil

6.5.4.1.1.Market size and forecast, BY Foundation
6.5.4.1.2.Market size and forecast, BY Depth

6.5.4.2.Egypt

6.5.4.2.1.Market size and forecast, BY Foundation
6.5.4.2.2.Market size and forecast, BY Depth

6.5.4.3.South Africa

6.5.4.3.1.Market size and forecast, BY Foundation
6.5.4.3.2.Market size and forecast, BY Depth

6.5.4.4.Kenya

6.5.4.4.1.Market size and forecast, BY Foundation
6.5.4.4.2.Market size and forecast, BY Depth

6.5.4.5.Rest of LAMEA

6.5.4.5.1.Market size and forecast, BY Foundation
6.5.4.5.2.Market size and forecast, BY Depth

CHAPTER 7:COMPETITIVE LANDSCAPE

7.1.Introduction
7.2.Product mapping of top 10 players
7.3.Competitive heatmap
7.4.Key development

7.4.1.New Product
7.4.2.Business Expansion
7.4.3.Acquisition

CHAPTER 8:COMPANY PROFILES

8.1.Siemens Gamesa Renewable

8.1.1.Company overview
8.1.2.Company Snapshot
8.1.3.Operating business segments
8.1.4.Product Portfolio
8.1.5.Business performance
8.1.6.Key strategic moves and developments

8.2.MHI Vestas Offshore Wind

8.2.1.Company overview
8.2.2.Company Snapshot
8.2.3.Operating business segments
8.2.4.Product portfolio
8.2.5.Business performance
8.2.6.Key strategic moves and developments

8.3.Senvion SA

8.3.1.Company overview
8.3.2.Company snapshot
8.3.3.Operating business segments
8.3.4.Product Portfolio

8.4.ABB Group

8.4.1.Company overview
8.4.2.Company snapshot
8.4.3.Operating business segments
8.4.4.Product Portfolio
8.4.5.Business performance
8.4.6.Key strategic moves and developments

8.5.General Electric Company

8.5.1.Company overview
8.5.2.Company snapshot
8.5.3.Operating business segments
8.5.4.Product Portfolio
8.5.5.Business performance

8.6.Nordex SE

8.6.1.Company overview
8.6.2.Company snapshot
8.6.3.Operating business segments
8.6.4.Product Portfolio
8.6.5.Business performance

8.7.Goldwind

8.7.1.Company overview
8.7.2.Company snapshot
8.7.3.Operating business segments
8.7.4.Product portfolio
8.7.5.Business performance

8.8.Envision Energy

8.8.1.Company overview
8.8.2.Company snapshot
8.8.3.Operating business segments
8.8.4.Product Portfolio
8.8.5.Business performance
8.8.6.Key strategic moves and developments

8.9.Mingyang Smart Energy Group Co., Ltd.

8.9.1.Company overview
8.9.2.Company snapshot
8.9.3.Operating business segments
8.9.4.Product portfolio
8.9.5.Business performance
8.9.6.Key strategic moves and developments

8.10.Hitachi

8.10.1.Company overview
8.10.2.Company snapshot
8.10.3.Operating business segments
8.10.4.Product portfolio
8.10.5.Business performance
8.10.6.Key strategic moves and developments

LIST OF TABLES

TABLE 01.FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 02.FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 03.FLOATING WIND TURBINE MARKET FOR SPAR-BUOY FOUNDATION, BY REGION, 2019–2027 (MW)
TABLE 04.FLOATING WIND TURBINE MARKET FOR SPAR-BUOY FOUNDATION, BY REGION, 2019–2027 ($MILLION)
TABLE 05.FLOATING WIND TURBINE MARKET FOR TENSION-LEG PLATFORM (TLP) FOUNDATION, BY REGION, 2019–2027 (MW)
TABLE 06.FLOATING WIND TURBINE MARKET FOR TENSION-LEG PLATFORM (TLP) FOUNDATION, BY REGION, 2019–2027 ($MILLION)
TABLE 07.FLOATING WIND TURBINE MARKET FOR SEMI-SUBMERSIBLE FOUNDATION, BY REGION, 2019–2027 (MW)
TABLE 08.FLOATING WIND TURBINE MARKET FOR SEMI-SUBMERSIBLE FOUNDATION, BY REGION, 2019–2027 ($MILLION)
TABLE 09.FLOATING WIND TURBINE MARKET FOR OTHERS, BY REGION, 2019–2027 (MW)
TABLE 10.FLOATING WIND TURBINE MARKET FOR OTHERS, BY REGION, 2019–2027 ($MILLION)
TABLE 11.FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 12.FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 13.FLOATING WIND TURBINE MARKET FOR DEEP WATER, BY REGION, 2019–2027 (MW)
TABLE 14.FLOATING WIND TURBINE MARKET FOR DEEP WATER, BY REGION, 2019–2027 ($MILLION)
TABLE 15.FLOATING WIND TURBINE MARKET FOR SHALLOW WATER, BY REGION, 2019–2027 (MW)
TABLE 16.FLOATING WIND TURBINE MARKET FOR SHALLOW WATER, BY REGION, 2019–2027 ($MILLION)
TABLE 17.FLOATING WIND TURBINE MARKET, BY REGION, 2020-2027 (MW)
TABLE 18.FLOATING WIND TURBINE MARKET, BY REGION, 2020-2027 ($MILLION)
TABLE 19.NORTH AMERICA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 20.NORTH AMERICA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 21.NORTH AMERICA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 22.NORTH AMERICA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 23.NORTH AMERICA FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 (MW)
TABLE 24.NORTH AMERICA FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 25.U.S. FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 26.U.S. FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 27.U.S. FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 28.U.S. FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 29.CANADA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 30.CANADA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 31.CANADA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 32.CANADA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 33.MEXICO FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 34.MEXICO FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 35.MEXICO FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 36.MEXICO FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 37.EUROPE FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 38.EUROPE FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 39.EUROPE FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 40.EUROPE FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 41.EUROPE FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 (MW)
TABLE 42.EUROPE FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 43.GERMANY FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 44.GERMANY FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 45.GERMANY FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 46.GERMANY FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 47.UK FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 48.UK FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 49.UK FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 50.UK FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 51.BELGIUM FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 52.BELGIUM FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 53.BELGIUM FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 54.BELGIUM FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 55.DENMARK FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 56.DENMARK FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 57.DENMARK FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 58.DENMARK FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 59.NETHERLANDS FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 60.NETHERLANDS FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 61.NETHERLANDS FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 62.NETHERLANDS FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 63.REST OF EUROPE FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 64.REST OF EUROPE FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 65.REST OF EUROPE FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 66.REST OF EUROPE FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 67.ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 68.ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 69.ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 70.ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 71.ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 (MW)
TABLE 72.ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 73.CHINA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 74.CHINA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 75.CHINA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 76.CHINA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 77.SOUTH KOREA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 78.SOUTH KOREA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 79.SOUTH KOREA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 80.SOUTH KOREA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 81.REST OF ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 82.REST OF ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 83.REST OF ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 84.REST OF ASIA-PACIFIC FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 85.LAMEA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 86.LAMEA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 87.LAMEA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 88.LAMEA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 89.LAMEA FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 (MW)
TABLE 90.LAMEA FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 ($MILLION)
TABLE 91.BRAZIL FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 92.BRAZIL FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 93.BRAZIL FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 94.BRAZIL FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 95.EGYPT FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 96.EGYPT FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 97.EGYPT FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 98.EGYPT FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 99.SOUTH AFRICA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 100.SOUTH AFRICA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 101.SOUTH AFRICA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 102.SOUTH AFRICA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 103.KENYA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 104.KENYA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 105.KENYA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 106.KENYA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 107.REST OF LAMEA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 (MW)
TABLE 108.REST OF LAMEA FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILLION)
TABLE 109.REST OF LAMEA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 (MW)
TABLE 110.REST OF LAMEA FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILLION)
TABLE 111.KEY NEW PRODUCT
TABLE 112.KEY BUSINESS EXPANSION
TABLE 113.KEY ACQUISITION
TABLE 114.SIEMENS GAMESA RENEWABLE: COMPANY SNAPSHOT
TABLE 115.SIEMENS GAMESA RENEWABLE: OPERATING SEGMENTS
TABLE 116.SIEMENS GAMESA RENEWABLE: PRODUCT PORTFOLIO
TABLE 117.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 118.SIEMENS GAMESA RENEWABLE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 119.MHI VESTAS OFFSHORE WIND: COMPANY SNAPSHOT
TABLE 120.MHI VESTAS OFFSHORE WIND: OPERATING SEGMENTS
TABLE 121.MHI VESTAS OFFSHORE WIND: PRODUCT PORTFOLIO
TABLE 122.MHI VESTAS OFFSHORE WIND: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 123.SENVION SA: COMPANY SNAPSHOT
TABLE 124.SENVION SA: OPERATING SEGMENTS
TABLE 125.SENVION SA: PRODUCT PORTFOLIO
TABLE 126.ABB GROUP: COMPANY SNAPSHOT
TABLE 127.ABB GROUP: OPERATING SEGMENTS
TABLE 128.ABB GROUP: PRODUCT PORTFOLIO
TABLE 129.ABB GROUP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 130.GENERAL ELECTRIC COMPANY: COMPANY SNAPSHOT
TABLE 131.GENERAL ELECTRIC COMPANY: OPERATING SEGMENTS
TABLE 132.GENERAL ELECTRIC COMPANY: PRODUCT PORTFOLIO
TABLE 133.NORDEX SE: COMPANY SNAPSHOT
TABLE 134.NORDEX SE: OPERATING SEGMENTS
TABLE 135.NORDEX SE: PRODUCT PORTFOLIO
TABLE 136.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 137.GOLDWIND: COMPANY SNAPSHOT
TABLE 138.GOLDWIND: OPERATING SEGMENT
TABLE 139.GOLDWIND: PRODUCT PORTFOLIO
TABLE 140.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 141.ENVISION ENERGY: COMPANY SNAPSHOT
TABLE 142.ENVISION ENERGY: OPERATING SEGMENTS
TABLE 143.ENVISION ENERGY: PRODUCT PORTFOLIO
TABLE 144.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 145.ENVISION ENERGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 146.MINGYANG SMART ENERGY GROUP CO., LTD.: COMPANY SNAPSHOT
TABLE 147.MINGYANG SMART ENERGY GROUP CO., LTD.: OPERATING SEGMENTS
TABLE 148.MINGYANG SMART ENERGY GROUP CO., LTD.: PRODUCT PORTFOLIO
TABLE 149.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 150.MINGYANG SMART ENERGY GROUP CO., LTD.: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 151.HITACHI: COMPANY SNAPSHOT
TABLE 152.HITACHI: OPERATING SEGMENTS
TABLE 153.HITACHI: PRODUCT PORTFOLIO
TABLE 154.OVERALL FINANCIAL STATUS ($MILLION)
TABLE 155.HITACHI: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.EXECUTIVE SUMMARY, BY SEGMENT
FIGURE 03.EXECUTIVE SUMMARY, BY COUNTRY
FIGURE 04.TOP INVESTMENT POCKETS
FIGURE 05.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 06.MODERATE THREAT OF NEW ENTRANTS
FIGURE 07.MODERATE THREAT OF SUBSTITUTES
FIGURE 08.MODERATE INTENSITY OF RIVALRY
FIGURE 09.LOW BARGAINING POWER OF BUYERS
FIGURE 10.TOP PLAYER POSITIONING, 2019
FIGURE 11.FLOATING WIND TURBINE MARKET DYNAMICS
FIGURE 12.FLOATING WIND TURBINE MARKET, BY FOUNDATION, 2019–2027 ($MILILION)
FIGURE 13.SPAR-BUOY FOUNDATION MARKET, BY COUNTRY, 2019–2027 ($MILILION)
FIGURE 14.TENSION-LEG PLATFORM (TLP) FOUNDATION MARKET, BY COUNTRY, 2019–2027 ($MILILION)
FIGURE 15.SEMI-SUBMERSIBLE FOUNDATION MARKET, BY COUNTRY, 2019–2027 ($MILILION)
FIGURE 16.OTHERS FLOATING WIND TURBINE MARKET, BY COUNTRY, 2019–2027 ($MILILION)
FIGURE 17.FLOATING WIND TURBINE MARKET, BY DEPTH, 2019–2027 ($MILILION)
FIGURE 18.FLOATING WIND TURBINE MARKET FOR DEEP WATER, BY COUNTRY, 2019–2027 ($MILILION)
FIGURE 19.FLOATING WIND TURBINE MARKET FOR SHALLOW WATER, BY COUNTRY, 2019–2027 ($MILILION)
FIGURE 20.U.S. FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 21.CANADA FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 22.MEXICO FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 23.GERMANY FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 24.UK FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 25.BELGIUM FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 26.DENMARK FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 27.NETHERLANDS FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 28.REST OF EUROPE FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 29.CHINA FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 30.SOUTH KOREA FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 31.REST OF ASIA-PACIFIC FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 32.BRAZIL FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 33.EGYPT FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 34.SOUTH AFRICA FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 35.KENYA FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 36.REST OF LAMEA FLOATING WIND TURBINE MARKET REVENUE, 2019–2027 ($MILLION)
FIGURE 37.PRODUCT MAPPING OF TOP 10 PLAYERS
FIGURE 38.COMPETITIVE HEATMAP
FIGURE 39.SIEMENS GAMESA RENEWABLE: REVENUE, 2017–2019 ($MILLION)
FIGURE 40.NORDEX SE: REVENUE, 2017–2019 ($MILLION)
FIGURE 41.NORDEX SE REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 42.NORDEX SE REVENUE SHARE BY REGION, 2019 (%)
FIGURE 43.GOLDWIND: REVENUE, 2017–2019 ($MILLION)232
FIGURE 44.GOLDWIND REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 45.GOLDWIND REVENUE SHARE BY REGION, 2019 (%)
FIGURE 46.ENVISION ENERGY: REVENUE, 2017–2019 ($MILLION)
FIGURE 47.ENVISION ENERGY REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 48.ENVISION ENERGY REVENUE SHARE BY REGION, 2019 (%)
FIGURE 49.MINGYANG SMART ENERGY GROUP CO., LTD.: REVENUE, 2017–2019 ($MILLION)
FIGURE 50.MINGYANG SMART ENERGY GROUP CO., LTD. REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 51.MINGYANG SMART ENERGY GROUP CO., LTD. REVENUE SHARE BY REGION, 2019 (%)
FIGURE 52.HITACHI: REVENUE, 2017–2019 ($MILLION)
FIGURE 53.HITACHI REVENUE SHARE BY REGION, 2019 (%)

 
 

The floating wind turbine market is expected to witness considerable growth. This is attributed to a significant surge in demand for renewable and clean energy. Floating wind turbine utilizes zero natural resources for power generation unlike conventional power generation. In addition, rise in concern from governments across emerging nations, such as China, India, and South Korea, regarding zero emission norms is expected to drive the market growth. Furthermore, installation of new floating wind turbine infrastructure may create new opportunities in the coastal regions involving more local economic activities in the market

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FREQUENTLY ASKED QUESTIONS?
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A. Surge in demand for renewable sources, high-capacity factor of floating wind turbines and substantial government policies promoting wind turbine are the key factors boosting the Floating Wind Turbine market growth.

A. Deep water segment would steer the Floating Wind Turbine market ahead.

A. To get latest version of floating wind turbine market report can be obtained on demand from the website.

A. Floating Wind Turbine market worth $30.6 billion in 2027.

A. Advancements in floating wind turbine structure such as “Twisted Jacket” foundation with fewer nodes and components is projected to create lucrative opportunities in the market.

A. The top ten market players are selected based on two key attributes - competitive strength and market positioning

A. Siemens Gamesa Renewable, MHI Vestas Offshore Wind, Senvion SA, ABB Group, General Electric Company, Nordex SE, and Mingyang Smart Energy Group Co., Ltd. are the top companies in the Floating Wind Turbine industry.

A. Semi-submersible foundation is projected to increase the demand for Floating Wind Turbine Market.

A. • The Covid-19 pandemic severely impacted the wind turbine manufacturing in countries like China, Germany.For instance, Germany's Nordex SE reported negative EBITDA of $86.5 million down from positive EBITDA $21 million in previous • Additionally, availability of spares and manpower for maintenance is a major problem affecting the market growth. During high wind season, planned maintenance became a major issue for industry players, owing to reduced labor force and social distancing norms. • Furthermore, project delays and cancellation of orders further affected the key markets for both blade production and wind turbine installations. For instance, Siemens Gamesa Renewable Energy SA accounted for a net loss of $577 million during its fiscal third quarter in 2020. • Average time for project completion is around 6-9 months for wind energy. But, due to unavailability of large labor force and permitting delays, most of these projects are at standstill position or pushed to the second half of the financial year

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