Offshore Substation Market Research Report Information By Type (HVDC, HVAC), By Voltage (170 kV, 245 kV, 72.5 kV, 123 kV, 145 kV, 400 kV, and Above 400 kV) By Application (Wind Farms, Oil & Gas, and Others) and By Region -Global Forecast to 2032
Overview of the Market
In 2023, the offshore substation market was estimated to be worth USD 5,828.9 million. According to projections, the offshore substation market would expand at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2032, from USD 6,514.7 million to USD 9,916.8 million. A facility used to transfer electricity from onshore power sources to offshore generating facilities is called an offshore substation.
These facilities are often connected to onshore power networks and situated close to an electrical transmission line. These substations are in maritime locations that are exposed to severe weather, including strong winds and waves. They must continue to function for many years and are built to survive the challenging marine environment. Subsea installation is the technique used to establish these substations.
The market for offshore substations is closely linked to the expansion of the offshore wind industry, and the increasing infrastructure development in many emerging global locations is one of the major factors driving this market.
Perspectives on Market Segments
Based on type, the offshore substation market has been divided into HVAC and HVDC segments.
The offshore substation market is divided into groups according to voltage: 170 kV, 245 kV, 72.5 kV, 123 kV, 145 kV, 400 kV, and Above 400 kV.
It is divided into Wind Farms, Oil & Gas, and Others based on End Use.
Regional Perspectives
North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America make up the offshore substation market's regional segments. The market for offshore substations in Europe has the largest market share and is anticipated to generate a sizable revenue share over the course of the projected period. With nine nations committing to 300 GW of offshore wind energy by 2050, the North Sea is at the center of European offshore wind energy plans and is on track to meet the necessary decarbonization. Furthermore, Europe's energy security as it moves toward a low-carbon economy depends on the North Sea's oil and gas continuing to have lower emissions intensity. The prevalence of disease-related risk factors, such as smoking and high blood pressure, increased the incidence of fatalities in the area by 3%. This prediction is predicated on a 44% rise in oil and gas output between 2021 and 2022, with the UK, Norway, and Netherlands leading the way. All of these show how important offshore substations are to the growing offshore wind and offshore oil and gas sectors in Europe. For stability and to reach Europe's energy ambitions, the substations are essential in controlling the flow of the increased electricity from these projects to the grids.
Key Players
General Electric, Siemens Energy, Petrofac Limited, Burns & McDonnell, HSM Offshore Energy BV, Hitachi Energy, ABB, Chantiers de l'Atlantique, SLPE, Hollandia, and others are the leading companies in the offshore substation market.
圖表清單 List of Tables & Figures
LIST OF TABLES
TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 33
TABLE 1 GLOBAL OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 48
TABLE 2 GLOBAL OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 52
TABLE 3 GLOBAL OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 55
TABLE 4 GLOBAL OFFSHORE SUBSTATION MARKET, BY REGION, 2018–2032 (USD MILLION) 58
TABLE 5 NORTH AMERICA: OFFSHORE SUBSTATION MARKET, BY COUNTRY, 2018-2032 (USD MILLION) 60
TABLE 6 NORTH AMERICA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 61
TABLE 7 NORTH AMERICA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 61
TABLE 8 NORTH AMERICA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 61
TABLE 9 US OFFSHORE SUBSTATION MARKET, BY TYPE, 2019-2032 (USD MILLION) 61
TABLE 10 US OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 62
TABLE 11 US OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 62
TABLE 12 CANADA OFFSHORE SUBSTATION MARKET, BY TYPE, 2019-2032 (USD MILLION) 62
TABLE 13 CANADA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 62
TABLE 14 CANADA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 63
TABLE 15 MEXICO OFFSHORE SUBSTATION MARKET, BY TYPE, 2019-2032 (USD MILLION) 63
TABLE 16 MEXICO OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 63
TABLE 17 MEXICO OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 64
TABLE 18 EUROPE: OFFSHORE SUBSTATION MARKET, BY COUNTRY, 2018-2032 (USD MILLION) 66
TABLE 19 EUROPE OFFSHORE SUBSTATION MARKET, BY TYPE, 2019-2032 (USD MILLION) 67
TABLE 20 EUROPE OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 67
TABLE 21 EUROPE OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 67
TABLE 22 GERMANY OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 67
TABLE 23 GERMANY OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 68
TABLE 24 GERMANY OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 68
TABLE 25 FRANCE OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 68
TABLE 26 FRANCE OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 68
TABLE 27 FRANCE OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 69
TABLE 28 UK OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 69
TABLE 29 UK OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 69
TABLE 30 UK OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 70
TABLE 31 SPAIN OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 70
TABLE 32 SPAIN OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 70
TABLE 33 SPAIN OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 71
TABLE 34 ITALY OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 71
TABLE 35 ITALY OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 71
TABLE 36 ITALY OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 71
TABLE 37 REST OF EUROPE OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 72
TABLE 38 REST OF EUROPE OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 72
TABLE 39 REST OF EUROPE OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 72
TABLE 40 ASIA-PACIFIC: OFFSHORE SUBSTATION MARKET, BY COUNTRY, 2018-2032 (USD MILLION) 75
TABLE 41 ASIA-PACIFIC OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 76
TABLE 42 ASIA-PACIFIC OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 76
TABLE 43 ASIA-PACIFIC OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 76
TABLE 44 CHINA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 76
TABLE 45 CHINA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 77
TABLE 46 CHINA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 77
TABLE 47 INDIA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 77
TABLE 48 INDIA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 77
TABLE 49 INDIA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 78
TABLE 50 JAPAN OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 78
TABLE 51 JAPAN OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 78
TABLE 52 JAPAN OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 79
TABLE 53 SOUTH KOREA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 79
TABLE 54 SOUTH KOREA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 79
TABLE 55 SOUTH KOREA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 80
TABLE 56 REST OF ASIA-PACIFIC OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 80
TABLE 57 REST OF ASIA-PACIFIC OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 80
TABLE 58 REST OF ASIA-PACIFIC OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 80
TABLE 59 MIDDLE EAST & AFRICA: OFFSHORE SUBSTATION MARKET, BY COUNTRY, 2018-2032 (USD MILLION) 82
TABLE 60 MIDDLE EAST AND AFRICA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 82
TABLE 61 MIDDLE EAST AND AFRICA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 82
TABLE 62 MIDDLE EAST AND AFRICA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 83
TABLE 63 SAUDI ARABIA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 83
TABLE 64 SAUDI ARABIA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 83
TABLE 65 SAUDI ARABIA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 84
TABLE 66 UAE OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 84
TABLE 67 UAE OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 84
TABLE 68 UAE OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 84
TABLE 69 SOUTH AFRICA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 85
TABLE 70 SOUTH AFRICA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 85
TABLE 71 SOUTH AFRICA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 85
TABLE 72 REST OF MIDDLE EAST & AFRICA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 86
TABLE 73 REST OF MIDDLE EAST & AFRICA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 86
TABLE 74 REST OF MIDDLE EAST & AFRICA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 86
TABLE 75 SOUTH AMERICA: OFFSHORE SUBSTATION MARKET, BY COUNTRY, 2018-2032 (USD MILLION) 88
TABLE 76 SOUTH AMERICA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 89
TABLE 77 SOUTH AMERICA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 89
TABLE 78 SOUTH AMERICA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 89
TABLE 79 BRAZIL OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 89
TABLE 80 BRAZIL OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 90
TABLE 81 BRAZIL OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 90
TABLE 82 ARGENTINA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 90
TABLE 83 ARGENTINA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 91
TABLE 84 ARGENTINA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 91
TABLE 85 REST OF SOUTH AMERICA OFFSHORE SUBSTATION MARKET, BY TYPE, 2018-2032 (USD MILLION) 91
TABLE 86 REST OF SOUTH AMERICA OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2018-2032 (USD MILLION) 91
TABLE 87 REST OF SOUTH AMERICA OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 92
TABLE 88 NEW PRODUCT LAUNCH/ DEVELOPMENT 96
TABLE 89 PARTNERSHIP/COLLABORATION, INVESTMENT, EXPANSION, AND OTHERS 96
TABLE 90 GENERAL ELECTRIC: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 101
TABLE 91 GENERAL ELECTRIC: KEY DEVELOPMENTS 101
TABLE 92 SIEMENS ENERGY: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 104
TABLE 93 SIEMENS ENERGY: KEY DEVELOPMENTS 104
TABLE 94 PETROFAC LIMITED: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 108
TABLE 95 PETROFAC LIMITED: KEY DEVELOPMENTS 109
TABLE 96 BURNS & MCDONNELL.: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 112
TABLE 97 BURNS & MCDONNELL.: KEY DEVELOPMENTS 112
TABLE 98 HSM OFFSHORE ENERGY BV: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 115
TABLE 99 HSM OFFSHORE ENERGY BV: KEY DEVELOPMENTS 115
TABLE 100 HITACHI ENERGY LTD.: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 118
TABLE 101 HITACHI ENERGY LTD.: KEY DEVELOPMENTS 119
TABLE 102 ABB: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 122
TABLE 103 ABB: KEY DEVELOPMENTS 123
TABLE 104 CHANTIERS DE L'ATLANTIQUE: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 125
TABLE 105 SLPE.: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 128
TABLE 106 PSA INTERNATIONAL: PRODUCTS/ SOLUTIONS/ SERVICES OFFERED 131
LIST OF FIGURES
FIGURE 1 GLOBAL OFFSHORE SUBSTATION MARKET: STRUCTURE 21
FIGURE 2 GLOBAL OFFSHORE SUBSTATION MARKET: MARKET GROWTH FACTOR ANALYSIS (2019-2032) 38
FIGURE 3 DRIVER IMPACT ANALYSIS (2022-2032) 40
FIGURE 4 RESTRAINT IMPACT ANALYSIS (2022-2032) 40
FIGURE 5 OPPORTUNITY IMPACT FORECAST 41
FIGURE 6 SUPPLY CHAIN: GLOBAL OFFSHORE SUBSTATION MARKET 44
FIGURE 7 PORTER'S FIVE FORCES ANALYSIS OF THE GLOBAL OFFSHORE SUBSTATION MARKET 46
FIGURE 8 GLOBAL OFFSHORE SUBSTATION MARKET; TYPE SEGMENT ATTRACTIVENESS, (USD MILLION) 49
FIGURE 9 GLOBAL OFFSHORE SUBSTATION MARKET, BY TYPE, 2023 & 2032 (USD MILLION) 49
FIGURE 10 GLOBAL OFFSHORE SUBSTATION MARKET, BY TYPE, 2023 (% SHARE) 50
FIGURE 11 GLOBAL OFFSHORE SUBSTATION MARKET; VOLTAGE SEGMENT ATTRACTIVENESS, (USD MILLION) 51
FIGURE 12 GLOBAL OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2023 & 2032 (USD MILLION) 51
FIGURE 13 GLOBAL OFFSHORE SUBSTATION MARKET, BY VOLTAGE, 2023 (% SHARE) 53
FIGURE 14 GLOBAL OFFSHORE SUBSTATION MARKET; APPLICATION SEGMENT ATTRACTIVENESS, (USD MILLION) 55
FIGURE 15 GLOBAL OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2023 & 2032 (USD MILLION) 55
FIGURE 16 GLOBAL OFFSHORE SUBSTATION MARKET, BY APPLICATION, 2023 (% SHARE) 56
FIGURE 17 GLOBAL OFFSHORE SUBSTATION MARKET, BY REGION, 2023 (% SHARE) 58
FIGURE 18 GLOBAL OFFSHORE SUBSTATION MARKET, BY REGION, 2023 VS 2032 (USD MILLION) 58
FIGURE 19 NORTH AMERICA MARKET ANALYSIS: OFFSHORE SUBSTATION MARKET, 2018-2023(USD MILLION) 59
FIGURE 20 NORTH AMERICA: OFFSHORE SUBSTATION MARKET SHARE, BY COUNTRY, 2023 (% SHARE) 61
FIGURE 21 EUROPE MARKET ANALYSIS: OFFSHORE SUBSTATION MARKET, 2018-2023(USD MILLION) 65
FIGURE 22 EUROPE: OFFSHORE SUBSTATION MARKET SHARE, BY COUNTRY, 2023 (% SHARE) 66
FIGURE 23 ASIA-PACIFIC MARKET ANALYSIS: OFFSHORE SUBSTATION MARKET, 2018-2023(USD MILLION) 74
FIGURE 24 ASIA-PACIFIC: OFFSHORE SUBSTATION MARKET SHARE, BY COUNTRY, 2023 (% SHARE) 75
FIGURE 25 MIDDLE EAST & AFRICA MARKET ANALYSIS: OFFSHORE SUBSTATION MARKET, 2018-2023(USD MILLION) 82
FIGURE 26 MIDDLE EAST & AFRICA: OFFSHORE SUBSTATION MARKET SHARE, BY COUNTRY, 2023 (% SHARE) 83
FIGURE 27 SOUTH AMERICA MARKET ANALYSIS: OFFSHORE SUBSTATION MARKET, 2018-2023(USD MILLION) 88
FIGURE 28 SOUTH AMERICA: OFFSHORE SUBSTATION MARKET SHARE, BY COUNTRY, 2023 (% SHARE) 88
FIGURE 29 COMPETITOR DASHBOARD: OFFSHORE SUBSTATIONS 96
FIGURE 30 OFFSHORE SUBSTATIONS PLAYERS: COMPETITIVE ANALSIS, 2023 (USD MILLION) (% SHARE) 97
FIGURE 31 GENERAL ELECTRIC: FINANCIAL OVERVIEW SNAPSHOT 101
FIGURE 32 GENERAL ELECTRIC: SWOT ANALYSIS 103
FIGURE 33 SIEMENS ENERGY: FINANCIAL OVERVIEW SNAPSHOT 105
FIGURE 34 SIEMENS ENERGY: SWOT ANALYSIS 106
FIGURE 35 PETROFAC LIMITED: FINANCIAL OVERVIEW SNAPSHOT 109
FIGURE 36 SCHOTT PHARMACEUTICAL PACKAGING: SWOT ANALYSIS 110
FIGURE 37 BURNS & MCDONNELL.: SWOT ANALYSIS 113
FIGURE 38 HSM OFFSHORE ENERGY BV: SWOT ANALYSIS 116
FIGURE 39 HITACHI, LTD.: FINANCIAL OVERVIEW SNAPSHOT 119
FIGURE 40 HITACHI ENERGY LTD.: SWOT ANALYSIS 120
FIGURE 41 ABB.: FINANCIAL OVERVIEW SNAPSHOT 123
FIGURE 42 ABB: SWOT ANALYSIS 124
FIGURE 43 STÖLZLE-OBERGLAS GMBH: SWOT ANALYSIS 127
FIGURE 44 SLPE.: SWOT ANALYSIS 129
FIGURE 45 PSA INTERNATIONAL: SWOT ANALYSIS 132
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