Transparency Market Research Offshore Wind Energy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2022
Published Date 29-June-2015
180 Page Report
Buy Now
Request Sample
Press Release
Offshore Wind Energy Market Installed Capacity is Anticipated to Reach 52,120.9 MW by 2022:Transparency Market Research Transparency Market Research State Tower, 90, State Street, Suite 700. Albany, NY 12207 United States www.transparencymarketresearch.com sales@transparencymarketresearch.com
Offshore Wind Energy Market
REPORT DESCRIPTION
Offshore Wind Energy Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2022 The global installed capacity in the offshore wind energy market stood at 7,045.4 MW in 2013 and is expected to reach 52,120.9 MW by 2022 at a CAGR of 25.0% from 2014 to 2022. Annual installations stood at 1,629.4 MW in 2013 and are expected to reach 7,228 MW by 2022, at a CAGR of 19.6% from 2014 to 2022. In the 2013 to 2022 period, total capacity additions of 46,704.9 MW are expected. In terms of investment, USD 7,875.5 million of new investments were required for capacity additions in 2013. This number is expected to increase to USD 27,387.5 million in 2022, at a CAGR of 16.4% from 2014 to 2022. Total investments in the 2013−2022 period for capacity additions are expected to reach USD 194,708.9 million. Browse Offshore Wind Energy Market Report with Full TOC at http://www.transparencymarketresearch.com/offshore-wind-energy-market.html Europe currently is the only region which has invested significantly in developing its offshore wind energy sector. Europe is followed by Asia Pacific, wherein China is the only country that has separate targets for offshore wind energy installations. North America and Rest of the World (RoW) are yet to construct and commission utility-scale offshore wind energy projects. Development of the offshore wind energy sector in the U.S. has not yet taken off, despite numerous projects being at various stages of the planning phase. Technology for drawing grid connections from offshore wind farms is currently present in the U.S. However, absence of regional transmission operators (RTOs), especially in the south-east region of the country, makes it extremely difficult for offshore wind farms to justify their costs as compared to benefits. Similarly, restricted funding channels and negative public sentiment surrounding the technology has also taken a toll on the offshore wind energy sector in the U.S. The Cape Wind Project is among the offshore wind energy projects that have been involved in controversies. The Cape Wind Project, which if commissioned, would have connected 468 MW of offshore wind energy capacity to the grid. Although not yet shelved, the project’s future is uncertain, post the cancellation of power purchase contracts by two utilities. Similarly, in Canada, Ontario has put a moratorium on offshore wind development activities. Amidst the low electricity prices prevalent in Canada, it is extremely difficult to support the development of the offshore wind sector by weighing costs against benefits. However, in Europe, the investment climate is positive and is expected to remain so throughout the forecast period. Europe witnessed nearly 1,567 MW of new capacity additions in the offshore wind sector in 2013, which was 34% higher than the previous year. The U.K. currently is the largest market for offshore wind energy in Europe. With the implementation of the new Energy Act in the country in December 2013 along with the implementation of the Electricity Market Reform Package, significant capacity additions can be expected in the future. Involvement of market players such as Siemens who have made investments, in collaboration with Associated British Ports, for the construction of wind turbine manufacturing facilities would go a long way in resolving supply chain bottlenecks as well as create employment (~1,000 jobs) for locals. Despite numerous advantages, the offshore wind energy sector in the U.K. suffers from a funding
Transparency Market Research
2
Offshore Wind Energy Market
gap with a distinct mismatch between capacity additions planned and subsidies available under the CfD scheme. With projects of 5 GW of capacity expected to enter the planning phase in 2015, resolution of the funding gap issue remains to be seen. Germany’s prospects for offshore wind are even brighter with 9 GW of new capacity in the pipeline. Currently, Germany has a share of almost 30% amongst all consented European offshore wind farms, which are scheduled to go online within the forecast horizon. Stronger port infrastructure and an inherent locational advantage render offshore wind energy companies operating in the country well positioned to cater to the growing demand from both Germany as well as other European countries. Interactions with grid operators, however, vary significantly in different European countries. New amendments to the German Renewable Energy Act dictate that transmission systems operators (TSOs) pay compensation packages to offshore wind farm developers if they fail to draw grid connections on time. On the contrary, the regulatory framework in Denmark dictates that project developers pay the costs for drawing connections from the wind farm to the national grid. The manner in which the regulatory framework in various countries shape the interactions between TSOs and offshore wind developers would determine investor confidence and investments in the sector. The Netherlands, with its aggressive capacity addition targets, has brought in several reforms directed towards the offshore wind energy sector. Apart from an annual tendering of 700 MW, the government has also pre-designated offshore wind farm development zones and has plans to have TSOs construct five standardized grid connection platforms, exclusively for the ease of project developers. The offshore wind energy sector in Asia Pacific is expected to be mostly driven by China and partly by Japan. With recent revisions in its offshore wind energy target, China is set to add 10 GW of generating capacity by 2020. With only 39 MW of new capacity additions in 2013, the offshore wind energy sector in China has recently been the subject of much controversy and skepticism. Irrespective of the criticism, China has treaded carefully when it comes to the offshore wind energy sector primarily owing to the higher costs and operating risks involved. With 10 GW of capacity additions targeted within 2020, nearly 1 GW of capacity additions are required annually in China post 2015. Justifying and achieving such an aggressive capacity addition target would stretch the country’s offshore wind supply chain to its limits. Japan is also investing in offshore wind energy post the Fukushima disaster, as a replacement to nuclear energy. However, conflicts with the fishing industry, significantly higher water depths, and hostile operating conditions have emerged as major hurdles. In the future, both fixed base as well as floating foundations are anticipated to play an instrumental role in the wind energy sector in Japan. As for the Rest of the World region, capacity additions are not expected to be realized, barring certain pilot and demonstration projects, especially those in the offshore areas of Brazil. Offshore Wind Energy Market: Regional Analysis
North America
•
U.S.
Transparency Market Research
3
Offshore Wind Energy Market
•
Rest of North America
Europe •
U.K
•
Germany
•
Denmark
•
Belgium
•
Sweden
•
Netherlands
•
Rest of Europe
Asia Pacific •
China
•
Japan
•
Rest of Asia Pacific
Rest of the World
Request for sample Free report http://www.transparencymarketresearch.com/sample/sample.php? flag=B&rep_id=5018
TABLE OF CONTENT
Chapter 1 Preface
Transparency Market Research
4
Offshore Wind Energy Market
1.1 Report Description 1.2 Research Scope 1.3 Market Segmentation 1.4 Research Methodology
Chapter 2 Executive Summary 2.1 Global Offshore Wind Energy Market
Chapter 3 Offshore Wind Energy Market – Industry Analysis 3.1 Introduction 3.2 Value Chain Analysis: Offshore Wind Energy Market 3.3 Market Drivers 3.3.1 Numerous Advantages Over Its Onshore Counterpart Is Significantly Bolstering Capacity Additions In The Offshore Wind Sector 3.3.1.1 Cumulative Installed Capacity for Onshore and Offshore Wind Power, 2007 – 2013 (MW) 3.3.2 Conducive Incentive Mechanisms And Regulatory Frameworks For The Offshore Wind Energy Sector Increasing Investments And Accelerating Capacity Additions 3.3.3 Increasing Utilization Of Project Financing In Offshore Wind Energy Projects Is Expected To Increase Investor Confidence And Speed Up Capacity Additions 3.4 Market Restraints 3.4.1 Higher Capital Costs Associated With Projects Are Hampering Brisk Capacity Additions 3.4.2 Presence Of Bottlenecks In The Supply Chain Hampers Brisk Project Development Activities In The Offshore Sector
Transparency Market Research
5
Offshore Wind Energy Market
3.5 Market Opportunities 3.5.1 New Offshore Projects Using Floating Wind Turbines Are Expected To Result In A Spurt Of Project Development Activities In Deepwater Locations 3.6 Porter’s five forces analysis: Offshore Wind Energy Market 3.6.1 Bargaining power of suppliers 3.6.2 Bargaining power of buyers 3.6.3 Threat from new entrants 3.6.4 Degree of competition 3.6.5 Threat from substitutes 3.7 Offshore Wind Energy Sector – Deal Analysis 3.7.1 Vestas Wind Systems A/S (Vestas) and Mitsubishi Heavy Industries Ltd. (MHI) Joint Venture 3.7.2 Areva S.A and Gamesa Corporación Tecnológica (Gamesa) Joint Venture 3.7.3 Siemens AG acquisition of A2SEA A/S 3.8 Offshore Wind Energy Sector – Capital Cost Analysis 3.8.1 Conceptualization Costs 3.8.1.1 Global Offshore Wind Energy Market, Conceptualization Cost Breakdown, By Cost Component, 2014 3.8.2 Wind Turbine Costs 3.8.2.1 Global Offshore Wind Energy Market, Wind Turbine Cost Breakdown, By Cost Component, 2014 3.8.3 Balance of Plant Costs 3.8.3.1 Global Offshore Wind Energy Market, Balance of Plant Cost Breakdown, By Cost Component, 2014
Transparency Market Research
6
Offshore Wind Energy Market
3.8.4 Installation Costs 3.8.4.1 Global Offshore Wind Energy Market, Installation Cost Breakdown, By Cost Component, 2014 3.8.5 Total Lifetime Costs 3.8.5.1 Global Offshore Wind Energy Market, Total Lifetime Cost Breakdown, By Cost Component, 2014 3.9 Offshore Wind Energy Sector – Cost Reduction Opportunity Analysis 3.9.1 Turbine Cost 3.9.1.1 Global Offshore Wind Energy Market, Turbine Cost Reduction Opportunities, By Reduction Factors, 2014 3.9.1.2 Global Offshore Wind Energy Market, Turbine Cost Reduction Possibilities, By Percentage Reduction & Probability, 2014 3.9.1.3 Europe Offshore Wind Energy Market, Average Installed Turbine Size, By Capacity per Turbine, 2000 – 2013 3.9.2 Foundation Costs 3.9.2.1 Global Offshore Wind Energy Market, Foundation Cost Reduction Opportunities, By Reduction Factors, 2014 3.9.2.2 Global Offshore Wind Energy Market, Foundation Cost Reduction Possibilities, By Percentage Reduction & Probability, 2014 3.9.3 Grid Connection Costs 3.9.3.1 Global Offshore Wind Energy Market, Grid Connection Cost Reduction Possibilities, By Percentage Reduction & Probability, 2014 3.9.4 Installation Costs 3.9.4.1 Global Offshore Wind Energy Market, Installation Cost Reduction Opportunities, By Reduction Factors, 2014
Transparency Market Research
7
Offshore Wind Energy Market
3.9.4.2 Global Offshore Wind Energy Market, Installation Cost Reduction Possibilities, By Percentage Reduction & Probability, 2014 3.10 Market Attractiveness Analysis 3.10.1 Market Attractiveness Analysis of Global Offshore Wind Energy Market, by Region, 2013
Chapter 4 Offshore Wind Energy Market: Regional Analysis 4.1 Offshore Wind Energy Market: Regional overview 4.1.1 Global Offshore Wind Energy Market, volume and revenue share by region, 2013 and 2022 4.2 North America 4.2.1 North America Offshore Wind Energy Market, volume share by country, 2013 and 2022 4.2.2 North America Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.2.3 North America Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.2.4 North America Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.2.5 The U.S. 4.2.5.1 The U.S. Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.2.5.2 The U.S. Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.2.5.3 The U.S. Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.2.5.4 Offshore Wind Energy Project List: The U.S. 4.2.6 Rest of North America
Transparency Market Research
8
Offshore Wind Energy Market
4.2.6.1 Rest of North America Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.2.6.2 Rest of North America Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.2.6.3 Rest of North America Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.2.6.4 Offshore Wind Energy Project List: Rest of North America 4.3 Europe 4.3.1 Europe Offshore Wind Energy Market, volume share by country, 2013 and 2022 4.3.2 Europe Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.3.3 Europe Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.3.4 Europe Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.3.5 U.K 4.3.5.1 U.K Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.3.5.2 U.K Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.3.5.3 U.K Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.3.5.4 Offshore Wind Energy Project List: U.K 4.3.6 Germany 4.3.6.1 Germany Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.3.6.2 Germany Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.3.6.3 Germany Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million)
Transparency Market Research
9
Offshore Wind Energy Market
4.3.6.4 Regulatory Snapshot – Germany Offshore Wind 4.3.6.5 Offshore Wind Energy Project List: Germany 4.3.7 Denmark 4.3.7.1 Denmark Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.3.7.2 Denmark Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.3.7.3 Denmark Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.3.7.4 Offshore Wind Energy Project List: Denmark 4.3.8 Belgium 4.3.8.1 Belgium Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.3.8.2 Belgium Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.3.8.3 Belgium Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.3.8.4 Permitting and Licensing – Belgium Offshore Wind Sector 4.3.8.4.1 Domain Concession 4.3.8.4.2 Construction Authorization and Operating License 4.3.8.4.3 Submarine Cable License 4.3.8.5 Offshore Wind Energy Project List: Belgium 4.3.9 Sweden 4.3.9.1 Sweden Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million)
Transparency Market Research
10
Offshore Wind Energy Market
4.3.9.2 Sweden Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.3.9.3 Sweden Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.3.9.4 Offshore Wind Energy Project List: Sweden 4.3.10 Netherlands 4.3.10.1 Netherlands Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.3.10.2 Netherlands Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.3.10.3 Netherlands Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.3.10.4 The Dutch Offshore Wind Development Plan 4.3.10.5 Regulatory Snapshot – Netherlands Offshore Wind 4.3.10.5.1 Designated Wind Farm Zones 4.3.10.5.2 Government Siting Decision 4.3.10.5.3 Site Data Provision 4.3.10.5.4 Allocation of Grid Connection 4.3.10.5.5 Tendering of Grants 4.3.10.6 Offshore Wind Energy Project List: Netherlands 4.3.11 Rest of Europe 4.3.11.1 Rest of Europe Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.3.11.2 Rest of Europe Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW)
Transparency Market Research
11
Offshore Wind Energy Market
4.3.11.3 Rest of Europe Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.3.11.4 Offshore Wind Energy Project List: Rest of Europe 4.3.12 Europe Offshore Wind Energy Market, Company Market Share, By Annual Installation and Cumulative Capacity, 2010 and 2014 4.3.13 Europe Offshore Wind Energy Market, Foundation Trends Analysis, 2010 – 2014 (Units) 4.4 Asia Pacific 4.4.1 Asia Pacific Offshore Wind Energy Market, volume share by country, 2013 and 2022 4.4.2 Asia Pacific Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.4.3 Asia Pacific Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.4.4 Asia Pacific Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.4.5 China 4.4.5.1 China Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.4.5.2 China Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.4.5.3 China Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.4.6 China Offshore Wind Energy Market, Company Market Share, By Cumulative Capacity, 2013 4.4.6.1 Foundation Type Analysis: China Offshore Wind 4.4.6.2 Current Challenges – China Offshore Wind 4.4.6.2.1 Project Developer Challenges 4.4.6.2.2 Turbine Manufacturer Challenges
Transparency Market Research
12
Offshore Wind Energy Market
4.4.6.2.3 Substructure Challenges 4.4.6.2.4 Installation and Connectivity Challenges 4.4.6.3 Offshore Wind Energy Project List: China 4.4.7 Japan 4.4.7.1 Japan Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.4.7.2 Japan Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.4.7.3 Japan Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.4.7.4 Offshore Wind Energy Targets – Japan 4.4.7.5 Offshore Wind Energy Project List: Japan 4.4.8 Rest of Asia Pacific 4.4.8.1 Rest of Asia Pacific Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.4.8.2 Rest of Asia Pacific Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW) 4.4.8.3 Rest of Asia Pacific Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million) 4.4.8.4 Offshore Wind Energy Project List: Rest of Asia Pacific 4.5 Rest of the World 4.5.1 Rest of the World Offshore Wind Energy Market estimates and forecast, 2013 – 2022 (MW) (USD Million) 4.5.1.1 Rest of the World Offshore Wind Energy Market Annual Capacity Additions, 2013 – 2022 (MW)
Transparency Market Research
13
Offshore Wind Energy Market
4.5.1.2 Rest of the World Offshore Wind Energy Market Annual Investments [Revenue], 2013 – 2022 (USD Million)
Chapter 5 Company Profiles 5.1 Siemens Wind Power 5.1.1 Company Overview 5.1.2 Product Portfolio 5.1.3 Financial Overview 5.1.4 Business Strategy 5.1.5 Recent Developments 5.2 Vestas Wind Systems A/S 5.2.1 Company Overview 5.2.2 Product Portfolio 5.2.3 Financial Overview 5.2.4 Business Strategy 5.2.5 Recent Developments 5.3 Goldwind Science and Technology Co., Ltd. 5.3.1 Company Overview 5.3.2 Product Portfolio 5.3.3 Financial Overview 5.3.4 Business Strategy 5.3.5 Recent Developments
Transparency Market Research
14
Offshore Wind Energy Market
5.4 Gamesa Corporacion Tecnologica SA 5.4.1 Company Overview 5.4.2 Product Portfolio 5.4.3 Financial Overview 5.4.4 Business Strategy 5.4.5 Recent Developments 5.5 GE Wind Energy 5.5.1 Company Overview 5.5.2 Product Portfolio 5.5.3 Financial Overview 5.5.4 Business Strategy 5.5.5 Recent Developments 5.6 Sinovel Wind Group Co., Ltd. 5.6.1 Company overview 5.6.2 Product Portfolio 5.6.3 Business Strategy 5.7 Dong Energy A/S 5.7.1 Company Overview 5.7.2 Product portfolio 5.7.3 Financial Overview 5.7.4 Business Strategy 5.7.5 Recent developments
Transparency Market Research
15
Offshore Wind Energy Market
5.8 Suzlon Group 5.8.1 Company Overview 5.8.2 Product Portfolio 5.8.3 Financial Overview 5.8.4 Business Strategy 5.8.5 Recent Developments 5.9 Nordex SE 5.9.1 Company Overview 5.9.2 Product portfolio 5.9.3 Financial overview5.9.4 Business strategy 5.9.5 Recent developments: 5.10 China Ming Yang Wind Power Group Limited 5.10.1 Company overview 5.10.2 Product portfolio 5.10.3 Financial overview 5.10.4 Business strategy 5.10.5 Recent developments Browse Offshore Wind Energy Market Report with Full TOC at http://www.transparencymarketresearch.com/offshore-wind-energy-market.html
About Us
Transparency Market Research
16
Offshore Wind Energy Market
Transparency Market Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forwardlooking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Contact Transparency Market Research 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-552-3453 Email: sales@transparencymarketresearch.com Website: http://www.transparencymarketresearch.com/
Transparency Market Research
17