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Europe Offshore Wind Energy Market Size

Report ID: GMI6165
Published Date: Jul 2023
Report Format: PDF

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Europe Offshore Wind Energy Market Size

Europe Offshore Wind Energy Market size was valued at more than USD 33.88 billion in 2023 and is expected to register at 19.9% CAGR from 2024 to 2032. The global market for offshore wind energy is anticipated to cross a valuation of USD 266.8 Billion during the forecast period.

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Europe Offshore Wind Energy Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Offshore Wind Energy Market Size in 2023:	USD 33.88 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	19.9%
2032 Value Projection:	USD 152.22 Billion
Historical Data for:	2019 to 2023
No. of Pages:	300
Tables, Charts & Figures:	531
Segments covered:	Turbine Rating, Component, Installation, Component, Depth, Country
Growth Drivers:	Unexplored wind energy potential along with expansion of available wind sources Technological advancements Transition to low carbon economy
Pitfalls & Challenges:	High upfront cost Grid integration and stability

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of Europe offshore wind energy reached USD 33.88 billion in 2023 and is poised to expand at 19.9% CAGR during 2024 – 2032, on account of unexplored wind energy potential along with expansion of available wind sources.

The Europe floating offshore wind turbines sector is expected to register over 49% growth rate till 2032, owing to significant advancements in the technology including floating platform design, mooring systems, and dynamic control mechanisms.

Ambitious renewable energy targets to reduce the greenhouse gas emissions and combat climate change is propelling the demand for setting up new wind energy fields in Denmark, adding to the overall business valuation.

Envision Group, Senvion, RTS Wind AG, Suzlon Energy Limited, WEG, Global Energy (Group) Limited, Siemens Gamesa Renewable Energy, Ørsted, Prysmian Group, Nexans, Sumitomo Electric Industries, Ltd., LS Cable & System Ltd. among others.