Fixed Offshore Wind Energy Market by Technology (Horizontal Axis Wind Turbines, Vertical Axis Wind Turbines), by Location (Shallow Waters, Deep Waters), by End-Use Industry (Energy Generation, Utilities, Industrial Applications); Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Fixed Offshore Wind Energy Market was valued at USD 28.3 Billion in 2023 and will surpass USD 97.9 Billion by 2030; growing at a CAGR of 19.4% during 2024 - 2030.

The fixed offshore wind energy market is evolving rapidly as a key solution to meet global energy demands sustainably. Offshore wind farms, installed in coastal waters, harness wind energy to generate electricity and are increasingly seen as critical in transitioning to renewable energy. Fixed offshore wind farms are designed for shallow waters, where wind conditions are optimal for large-scale energy production. With favorable government policies, technological advancements, and increasing demand for clean energy, the fixed offshore wind energy sector is expanding at a significant pace. This market presents a unique opportunity to generate power while minimizing environmental impact and conserving land space, aligning with global goals for sustainability and carbon reduction.

In the following sections, we will explore key segments of the fixed offshore wind energy market, focusing on the largest or fastest-growing subsegments within technology, location, and end-use industry. By understanding these factors, stakeholders can gain insights into the current market dynamics and future growth trends.

Horizontal Axis Wind Turbines (HAWT) Technology is Largest Owing to Efficiency and Proven Performance

Horizontal Axis Wind Turbines (HAWT) dominate the fixed offshore wind energy market as the largest technology segment due to their efficiency, scalability, and proven performance. HAWTs are widely adopted in both onshore and offshore applications, offering a robust solution for harnessing wind energy at scale. These turbines feature blades that rotate around a horizontal axis, optimizing power generation by capturing wind energy more effectively than other types of turbines.

In fixed offshore wind farms, HAWTs are particularly effective due to their large size, higher capacity, and ability to operate in varying wind conditions. They have been deployed in major offshore wind projects across Europe, the United States, and other key markets. As the technology continues to evolve, HAWTs are expected to remain the dominant choice for fixed offshore wind energy, driven by their ability to generate significant amounts of electricity efficiently. Their long-established track record in offshore applications reinforces their position as the largest technology segment within this market.

Shallow Waters Location is Largest Owing to Infrastructure and Cost-Effectiveness

Shallow waters (up to 60 meters) dominate the fixed offshore wind energy market in terms of location due to the advantages they offer in terms of infrastructure development and cost-effectiveness. Fixed offshore wind farms are most commonly installed in shallow waters, where the seabed is more accessible for foundation installation. These locations are optimal for larger turbines and offer more favorable wind conditions compared to deeper waters. The ability to use fixed foundations in shallow waters significantly reduces the overall cost of installation and maintenance, making this location the most popular choice for offshore wind farm developers.

In addition, shallow waters are typically located closer to coastal areas, which reduces the need for extensive transmission infrastructure, further driving down costs. With many of the world’s best wind resources located in shallow waters, this segment continues to grow as offshore wind projects proliferate in regions like Europe, North America, and parts of Asia. As technological advancements further optimize the installation and operation of turbines in shallow waters, this location will continue to be the most utilized for fixed offshore wind energy projects.

Energy Generation is Largest End-Use Industry Owing to Global Renewable Energy Push

Energy generation is the largest end-use industry for fixed offshore wind energy, driven by the increasing demand for clean, renewable energy worldwide. As countries and organizations push toward decarbonization and net-zero emissions goals, offshore wind energy is becoming a central component of national energy strategies. Fixed offshore wind farms offer a reliable, large-scale solution for generating renewable electricity, and this demand is amplified by the rising cost of fossil fuels and the need for energy diversification.

Fixed offshore wind energy offers a consistent power output due to the strong and steady winds found in offshore locations, making it an ideal source for baseload generation. This makes it an essential solution for meeting long-term energy needs while reducing greenhouse gas emissions. With governments worldwide offering incentives and support for renewable energy projects, the energy generation segment is expected to remain the dominant end-use industry in the fixed offshore wind market.

Europe is Largest Region Owing to Established Infrastructure and Policy Support

Europe is the largest region in the fixed offshore wind energy market, owing to its established infrastructure, strong policy support, and abundant wind resources. Countries like the United Kingdom, Germany, Denmark, and the Netherlands have been pioneers in the offshore wind industry, with large-scale offshore wind farms already operational. Europe’s commitment to transitioning to renewable energy, alongside its advanced technology and research capabilities, has made it the global leader in offshore wind power generation.

The European Union’s aggressive renewable energy targets, such as achieving 40% of energy from renewables by 2030, are further propelling the growth of the offshore wind sector. The region's well-established supply chain, financing options, and regulatory frameworks also make it an attractive market for offshore wind projects. As the demand for offshore wind energy continues to grow, Europe is expected to maintain its position as the largest region in the fixed offshore wind energy market.

Competitive Landscape and Leading Companies

The fixed offshore wind energy market is highly competitive, with several major players contributing to the growth and development of offshore wind farms. Leading companies include Ørsted, Siemens Gamesa, Vestas, and GE Renewable Energy, which are among the top manufacturers of turbines and developers of offshore wind projects. These companies are at the forefront of technological innovations, such as larger turbine sizes, floating platforms, and advancements in turbine efficiency.

The competitive landscape is also shaped by strategic partnerships and collaborations between energy developers, governments, and technology providers. As the market grows, these companies are working together to reduce costs, enhance operational efficiency, and drive the adoption of offshore wind energy globally. With increasing investments in offshore wind projects and continued innovation in turbine technology, the competitive dynamics are expected to intensify, positioning these industry leaders to play a significant role in shaping the future of fixed offshore wind energy.

List of Leading Companies:

• China Ming Yang Wind Power Group Limited
• EDF Renewables
• Envision Energy
• Equinor ASA
• GE Renewable Energy
• Iberdrola
• MHI Vestas Offshore Wind
• Nordex SE
• Ørsted A/S
• RWE AG
• Senvion
• Siemens Gamesa Renewable Energy
• Statkraft AS
• Suzlon Energy Ltd.
• Vestas Wind Systems A/S

Recent Developments:

• Ørsted A/S has received approval for a new offshore wind farm project in the North Sea, which will significantly contribute to the UK’s renewable energy goals.
• Siemens Gamesa Renewable Energy launched an advanced offshore wind turbine design aimed at increasing energy efficiency in harsh marine environments.
• GE Renewable Energy completed the installation of its largest offshore wind turbine in European waters, marking a major milestone in offshore wind technology.
• Vestas Wind Systems A/S announced a new offshore wind project in the U.S. East Coast, positioning itself as a leader in the expanding American offshore market.
• Equinor ASA entered a partnership with several European governments to expand offshore wind capacity in the North Sea, helping to meet climate targets.

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