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Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Floating Wind Turbine Market | 582 MW Growth During 2020-2024 | Technavio

December 18, 2020 GMT

LONDON--(BUSINESS WIRE)--Dec 18, 2020--

The floating wind turbine market is expected to grow by 582 MW, decelerating at a CAGR of about 58% during the forecast period.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201217006152/en/


Technavio has announced its latest market research report titled Global Floating Wind Turbine Market 2020-2024 (Graphic: Business Wire)

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Favorable government regulations for floating wind is one of the major factors propelling market growth. However, factors such as competition from alternative technologies may hamper growth.

More details: https://www.technavio.com/report/floating-wind-turbine-market-industry-analysis

Floating Wind Turbine Market: Foundation Landscape

Based on the foundation, the spar-buoy segment led the market in 2019. Spar-buoy foundation has a simple design that is amenable to the serial fabrication process, which is one of the key factors driving the segment growth. The market growth in the segment will be significant over the forecast period.


Floating Wind Turbine Market: Geographic Landscape

By geography, Europe is going to witness lucrative growth during the forecast period. About 58% of the market’s overall growth is expected to originate from Europe. Rising investments in floating offshore wind plants in countries such as France, Norway, and Portugal are driving the growth of the market in Europe. The UK, Portugal, Norway, and France are the key markets for floating wind turbines in Europe.

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Companies Covered:

  • Doosan Corp.
  • Equinor ASA
  • General Electric Co.
  • Hitachi Ltd.
  • MHI Vestas Offshore Wind AS
  • Mingyang Smart Energy Group Co. Ltd.
  • Naval Energies
  • Principle Power Inc.
  • Senvion SA
  • Siemens AG

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2019, 2020, until 2024
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Foundation

  • Market segments
  • Comparison by foundation
  • Spar-buoy - Market size and forecast 2019-2024
  • Semi-submersible - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by foundation

Customer Landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • ROW - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Competitive scenario
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Doosan Corp.
  • Equinor ASA
  • General Electric Co.
  • Hitachi Ltd.
  • MHI Vestas Offshore Wind AS
  • Mingyang Smart Energy Group Co. Ltd.
  • Naval Energies
  • Principle Power Inc.
  • Senvion SA
  • Siemens AG


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201217006152/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200





SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 12/18/2020 01:00 AM/DISC: 12/18/2020 01:00 AM