Offshore and Onshore Wind EPC Market Size by Applications, by Type, by End-User, by Deployment & by Technology 2032
Offshore and Onshore Wind EPC Market was valued at USD 40 Billion in 2022 and is projected to reach USD 75 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
Looking ahead to the period between 2023 and 2033, the demand for both offshore and onshore wind power is expected to accelerate, as nations ramp up efforts to meet carbon reduction goals. The International Energy Agency (IEA) forecasts that offshore wind capacity alone could rise to 200 GW by 2030, fueled by large-scale projects and improvements in floating wind technology. Onshore wind, while already a major contributor, is set for continued expansion, especially in regions like the U.S. and China, where land-based projects can be rapidly deployed. The global shift towards electrification and decarbonization of industries also presents substantial opportunities for the wind EPC market, further reinforcing the sector's robust future outlook.
The key drivers for the Offshore and Onshore Wind EPC Market from 2023 to 2033 will include technological advancements that reduce the levelized cost of energy (LCOE), stronger grid integration strategies, and the expansion of offshore wind into deeper waters. Additionally, innovation in materials and turbines will lead to more efficient, larger-capacity installations, enabling greater energy capture. Economies of scale in both offshore and onshore wind farms will help lower installation costs, while increasing corporate investments and public-private partnerships will boost project financing. Governments worldwide are expected to introduce more aggressive renewable energy targets, which will lead to heightened demand for EPC services for both offshore and onshore wind projects.
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The Offshore and Onshore Wind EPC Market experienced significant growth from 2018 to 2022, driven by increasing investments in renewable energy, technological advancements, and the global push towards sustainability. During this period, several factors such as government incentives, corporate commitments to net-zero targets, and the cost competitiveness of wind energy contributed to the surge in demand for wind farm installations. According to recent industry reports, global offshore wind capacity reached over 50 GW by 2022, marking a pivotal point for the sector. In comparison, onshore wind energy also saw considerable growth, with capacity exceeding 750 GW globally by the end of 2022.
Who are the largest Global manufacturers in the Offshore and Onshore Wind EPC industry?
- Power Construction Corporation of China
- Ltd.
- China Energy Engineering Group Co.
- Ltd.
- Black & Veatch
- Semco Maritime
- ESFC
- Jan De Nul Group
- Technip Energies
- Van Oord
- Intertek
- GE Renewable Energy
- BOND Civil & Utility Construction
- SHINFOX ENERGY
- Sany Renewable Energy Co.
- Ltd
- Shanghai Electric Wind Power Group Co.
- Ltd
- MingYang Smart Energy Group Limited
- Huayi Electric Company Limited
- Sinovel Wind Group Co.
- Ltd.
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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What are the factors driving the growth of the Global Offshore and Onshore Wind EPC Market?
Growing demand for below applications around the world has had a direct impact on the growth of the Global Offshore and Onshore Wind EPC Market
- Distributed Wind Power
- Centralized Wind Power
What are the types of Offshore and Onshore Wind EPC available in the Market?
Based on Types the Market is categorized into Below types that held the largest Offshore and Onshore Wind EPC market share In 2023.
- Onshore Wind Power EPC
- Offshore Wind Power EPC
Which regions are leading the Global Offshore and Onshore Wind EPC Market?
- Global (United States, Global and Mexico)
- Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
- South America (Brazil, Argentina, Columbia, etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Detailed TOC of Global Offshore and Onshore Wind EPC Market Research Report, 2024-2032
1. Introduction of the Global Offshore and Onshore Wind EPC Market
- Overview of the Market
- Scope of Report
- Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
- Data Mining
- Validation
- Primary Interviews
- List of Data Sources
4. Global Offshore and Onshore Wind EPC Market Outlook
- Overview
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Porters Five Force Model
- Value Chain Analysis
5. Global Offshore and Onshore Wind EPC Market, By Type
6. Global Offshore and Onshore Wind EPC Market, By Application
7. Global Offshore and Onshore Wind EPC Market, By Geography
- Global
- Europe
- Asia Pacific
- Rest of the World
8. Global Offshore and Onshore Wind EPC Market Competitive Landscape
- Overview
- Company Market Ranking
- Key Development Strategies
9. Company Profiles
10. Appendix
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