Global Offshore Wind Market Report by Component (Turbine, Tower, Blades Electrical Infrastructure and Nacelle), By Location (Shallow Water ( 60m Depth)) and By Region - Global Forecast to 2023.
— Market research future published a half cooked research report on global offshore wind market. The offshore wind market is expected to grow over the CAGR of around 11.12% during the period 2017 to 2023.
Offshore wind energy farms are constructed offshore on continental shelf to harvest wind energy to generate electricity. As offshore winds are comparatively of higher current as compared to land winds, a higher amount of electricity can be generated through these installations.
Offshore winds are steady and have faster speeds resulting in higher & reliable energy generation. The growth in this sector can be attributed to the increasing demand for clean and reliable energy in order to reduce the global carbon emissions and to maintain ecological balance by generating electricity through renewable resources.
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However, high initiating capital cost of the projects with high maintenance cost and logistics issues, can hinder the offshore wind market. Also, high tidal winds and bad weather conditions making it difficult to access the offshore wind farms even for problem rectification and preventive maintenance will restrain the global offshore wind market.
Market Research Analysis
The offshore wind market in the Europe region is currently leading and is followed by North-America and Asia-Pacific market. But it is expected that North-America will grow at the highest CAGR, owing to the approval of various offshore wind farm projects in countries such as U.S and Canada, where there has been a substantial investment towards the growth of non-conventional electricity generation. These factors will drive the market for offshore wind market in North American region during the forecast period.
GLOBAL OFFSHORE WIND MARKET 2017-2023
Scope of the Report
This study provides an overview of the global offshore wind market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
The scope of the study segments the global Offshore Wind market by its component type, by location and by region.
By Component Type
Shallow Water ( 60m Depth)
Rest of the World
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Global Offshore Wind Market
Currently, the offshore wind market is in the growth stage. This is due to the increase in demand for power, global initiatives to use more renewable and non-conventional energy sources and the global need to restrict carbon emission. European governments and the EU, as a whole, have supported wind projects with favorable incentives as part of their carbon emission reduction goals. The United Kingdom heads the field, with 46% of global installed capacity, in 2015, followed by Germany (30%) and Denmark (11.5%). The European region is currently the leading in offshore wind market, and is followed by North-America and Asia. Currently, China has the largest number of offshore wind energy projects under planning and construction phase, which is followed by Japan and South Korea.
The key players of global offshore wind market are General Electric (U.S.), Siemens (Germany), Vestas Wind Systems A/S (Denmark), Senvion SA (Luxembourg), Doosan Heavy Industries & Construction Co., Ltd (Korea), Suzlon Group (India), Dong Energy A/S (Denmark), EEW Group (Germany), ENERCON GmbH (Germany) and Goldwind Windenergy GmbH (China).
Extensive research in this market has brought to light that contract is a key strategy adopted, extensively, by the players to spread their geographical presence and achieve operational efficiencies. Agreements & Partnerships, are also major strategies adopted by the major players in the global offshore wind market. This strategy is widely adopted to increase the number of offerings to the customer. New technologies and expansion of facilities for offshore wind projects, lead new product developments.
The report for Global Offshore Wind Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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