Offshore Wind Market Research Report by Component (Electrical Infrastructure, Substructure, and Turbine), Location, State (Florida, New York, and Illinois) - United States Forecast to 2027 - Cumulative Impact of COVID-19

Offshore Wind Market Research Report by Component (Electrical Infrastructure, Substructure, and Turbine), Location, State (Florida, New York, and Illinois) - United States Forecast to 2027 - Cumulative Impact of COVID-19

The United States Offshore Wind Market size was estimated at USD 7,452.26 million in 2021 and expected to reach USD 7,969.39 million in 2022, and is projected to grow at a CAGR 8.81% to reach USD 12,370.63 million by 2027.

Market Statistics:

The report provides market sizing and forecast across five major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF. It helps organization leaders make better decisions when currency exchange data is readily available. In this report, the years 2019 and 2020 are considered historical years, 2021 as the base year, 2022 as the estimated year, and years from 2023 to 2027 are considered the forecast period.

Market Segmentation & Coverage:

This research report categorizes the Offshore Wind to forecast the revenues and analyze the trends in each of the following sub-markets:

Based on Component, the market was studied across Electrical Infrastructure, Substructure, and Turbine. The Substructure is further studied across Jacket And Gravity Based and Monopile. The Turbine is further studied across Nacelle, Rotors And Blades, and Tower.

Based on Location, the market was studied across Deep Water (> 60m Depth), Shallow Water (< 30m Depth), and Transitional Water (30m – 60m Depth).

Based on State, the market was studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas.

Cumulative Impact of COVID-19:

COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlying COVID-19 issues and potential paths forward. The report delivers insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecasts, considering the COVID-19 impact on the market.

Competitive Strategic Window:

The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix evaluates and categorizes the vendors in the Offshore Wind Market based on Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.

Market Share Analysis:

The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.

Competitive Scenario:

The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate. The competitive scenario represents press releases or news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All the news collected help vendor to understand the gaps in the marketplace and competitor’s strength and weakness thereby, providing insights to enhance product and service.

Company Usability Profiles:

The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the United States Offshore Wind Market, including Dong Energy A/S, Doosan Heavy Industries And Construction Co., Ltd, EEW Group, ENERCON GmbH, Engie SA, Furukawa Electric Co. Ltd., General Electric Company, GeoSea, Goldwind Wind Energy GmbH, Hitachi ABB Power Grids Ltd, IMPSA, Enessere Srl, LS Cable & System, Mhi Vestas Offshore Wind A/S, Ming Yang Smart Energy Group Co., Nexans S.A., Nordex SE, Prysmian Group, RTS Wind AG, Siemens AG, Sinovel Wind Group Co., Southwire Company, LLC, Sumitomo Electric Industries, Ltd, Suzlon energy Limited, and Ørsted A/S.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyze penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the United States Offshore Wind Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the United States Offshore Wind Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the United States Offshore Wind Market?
4. What is the competitive strategic window for opportunities in the United States Offshore Wind Market?
5. What are the technology trends and regulatory frameworks in the United States Offshore Wind Market?
6. What is the market share of the leading vendors in the United States Offshore Wind Market?
7. What modes and strategic moves are considered suitable for entering the United States Offshore Wind Market?

Please Note: PDF & Excel + Online Access - 1 Year

Companies Mentioned

Dong Energy A/S
Doosan Heavy Industries And Construction Co., Ltd
EEW Group
ENERCON GmbH
Engie SA
Furukawa Electric Co. Ltd.
General Electric Company
GeoSea
Goldwind Wind Energy GmbH
Hitachi ABB Power Grids Ltd
IMPSA, Enessere Srl
LS Cable & System
Mhi Vestas Offshore Wind A/S
Ming Yang Smart Energy Group Co.
Nexans S.A.
Nordex SE
Prysmian Group
RTS Wind AG
Siemens AG
Sinovel Wind Group Co.
Southwire Company, LLC
Sumitomo Electric Industries, Ltd
Suzlon energy Limited
Ørsted A/S