Offshore Energy Market in Europe Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Europe Offshore Energy Companies and the market is Segmented by Technology (Wind Energy, Wave Energy, Tidal Stream, Ocean Thermal Energy Conversion (OTEC), and Other Technology Types) and Geography (UK, Germany, Netherlands, Denmark, Norway, and Rest of Europe). The report offers the installed capacity and forecasts in capacity (GW) for all the above segments.

Offshore Energy Market in Europe Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Europe Offshore Energy Market Size

Europe Offshore Energy Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 15.00 %
Market Concentration Medium

Major Players

Europe Offshore Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Offshore Energy Market Analysis

The Europe Offshore Energy Market is expected to register a CAGR of greater than 15% during the forecast period.

The COVID-19 pandemic negatively impacted the market in 2020. Presently the market has reached pre-pandemic levels.

  • Over the medium term, factors such as increasing demand for renewable energy sources, the rise in demand for sustainable energy sources, and the high efficiency of wind energy are driving the market's growth.
  • However, the high cost of the offshore wind power system due to the movement of heavy and oversized equipment to the offshore location is a significant factor that will restrain the market growth during the forecast period.
  • Nevertheless, in an effort to fine-tune wind turbines for maximum efficiency, the integration of sophisticated software that monitors wind and weather patterns, sea level, tides, and load patterns on the electrical grid is under process. Furthermore, incorporating big data and the Internet of Things (IoT) will also create an excellent opportunity for the offshore energy market during the forecast period.
  • The United Kingdom is expected to be the largest market during the forecast period. This projection is based on increased offshore wind and tidal energy activities and new pipeline projects that will drive the demand for offshore energy in the coming years.

Europe Offshore Energy Industry Overview

The European offshore energy market is moderately fragmented. Some of the major players (in no particular order) include Siemens Gamesa Renewable Energy SA, Vestas Wind Systems AS, Hydroquest, Ørsted AS, and E.ON SE, among others.

Europe Offshore Energy Market Leaders

  1. Siemens Gamesa Renewable Energy SA

  2. Vestas Wind Systems AS

  3. Hydroquest

  4. Ørsted AS

  5. E.ON SE.

  6. *Disclaimer: Major Players sorted in no particular order
Europe Offshore Energy Market Concentration.jpg
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Europe Offshore Energy Market News

  • July 2022: In connection with its Hornsea 3 offshore wind farm, Ørsted was awarded a contract for difference by the UK Department for Business, Energy, and Industrial Strategy (BEIS). Following the British Energy Security Strategy, by 2030, Hornsea 3 is expected to produce enough electricity to power 3.2 million UK homes at a low-cost, clean, renewable rate, contributing significantly to the UK Government's ambition of having 50 GW offshore wind in operation.
  • July 2022: During the fourth round of the UK government's contracts for difference (CfD) scheme, four tidal stream projects totaling 40.82 MW were awarded contracts. SIMEC Atlantis Energy Ltd won an order for 28 MW for its MeyGen tidal power project in Scotland. The company is expected to begin operations in 2027 and aims to reach a financial close in 2024. Due to the competition, a special price of USD 212.1 per MWh was allocated for the tidal stream technology.

Europe Offshore Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope Of The Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Offshore Energy Installed Capacity And Forecast In GW, Till 2027
  • 4.3 Recent Trends And Developments
  • 4.4 Government Policies And Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitute Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 By Technology
    • 5.1.1 Wind Energy
    • 5.1.2 Wave Energy
    • 5.1.3 Tidal Stream
    • 5.1.4 Ocean Thermal Energy Conversion (OTEC)
    • 5.1.5 Other Technology Types
  • 5.2 By Geography
    • 5.2.1 United Kingdom
    • 5.2.2 Germany
    • 5.2.3 Netherlands
    • 5.2.4 Denmark
    • 5.2.5 Norway
    • 5.2.6 Rest of Europe

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, And Agreements
  • 6.2 Strategies Adopted By Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Service Providers
    • 6.3.1.1 Siemens Gamesa Renewable Energy SA
    • 6.3.1.2 Vestas Wind Systems AS
    • 6.3.1.3 Hydroquest
    • 6.3.1.4 Nordex SE
    • 6.3.1.5 GE Renewable Energy
    • 6.3.1.6 SSE Renewables
    • 6.3.2 Operators
    • 6.3.2.1 Ørsted AS
    • 6.3.2.2 E.ON SE
    • 6.3.2.3 National Grid PLC
    • 6.3.2.4 Equinor ASA
    • 6.3.2.5 EDF SA
    • 6.3.2.6 Iberdrola SA
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Europe Offshore Energy Industry Segmentation

Offshore renewable energy is defined as the electricity generated from ocean-based resources, such as wind turbines located offshore in the oceans and Great Lakes, along with marine energy sources, such as waves, tides, salinity, and thermal properties. Projects utilizing ocean resources are considered offshore. For example, a tidal generator located at a river's mouth is considered offshore since it utilizes ocean tides to generate electricity.

The European Offshore Energy Market is Segmented by Technology (Wind Energy, Wave Energy, Tidal Stream, Ocean Thermal Energy Conversion (OTEC), and Other Technology Types) and Geography (United Kingdom, Germany, Netherlands, Denmark, Norway, and Rest of Europe). The report offers the installed capacity and forecasts in capacity (GW) for all the above segments.

By Technology Wind Energy
Wave Energy
Tidal Stream
Ocean Thermal Energy Conversion (OTEC)
Other Technology Types
By Geography United Kingdom
Germany
Netherlands
Denmark
Norway
Rest of Europe
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Europe Offshore Energy Market Research FAQs

What is the current Europe Offshore Energy Market size?

The Europe Offshore Energy Market is projected to register a CAGR of greater than 15% during the forecast period (2025-2030)

Who are the key players in Europe Offshore Energy Market?

Siemens Gamesa Renewable Energy SA, Vestas Wind Systems AS, Hydroquest, Ørsted AS and E.ON SE. are the major companies operating in the Europe Offshore Energy Market.

What years does this Europe Offshore Energy Market cover?

The report covers the Europe Offshore Energy Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Europe Offshore Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Offshore Energy in Europe Industry Report

Statistics for the 2025 Europe Offshore Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Offshore Energy analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.