Offshore wind holds great potential in
non-conventional electricity generation. The higher efficiency of the offshore
wind farm is due to the steady offshore wind inputs as compared to land winds
is resulting in the growth of offshore wind market. The main objective of
offshore wind farm is to convert wind energy to electricity and propagate it as
per requirement to the end user. These offshore wind farms are widely installed
along continental shelves across oceans and seas.
Offshore wind market is classified based
on their component as turbine, substructure, electrical infrastructure and
others. The turbine component is expected to lead the offshore wind market.
This is because it is comprised of the most vital components such as nacelle,
rotor and blades, and tower, which support it to generate electricity. Also,
the turbine accounts for the maximum share of capital investment needed to
build an offshore farm.
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Industry
Highlights
The shallow water offshore wind market is
expected to hold a larger market size as compared to the other two prominent
location segments of offshore wind market by. This is due to the proximity of
the wind farm from the ground level to reach the site for daily maintenance and
inspection. Also, the low capital cost of shallow water wind farm, as it costs
less for infrastructure, low logistic charges and manpower charges is expected
to grow the shallow water offshore wind market. All these factors will add
to the growth of shallow water offshore
wind market.
Key
Players
The key players of global offshore wind
market are Siemens AG (Germany), Vestas Wind Systems A/S (Denmark), General
Electric Company (U.S), Senvion SA (Germany), Areva (France), Clipper
Windpower, LLC (U.S), ABB Ltd. (Switzerland), Sinovel Wind (Group) Co., Ltd.
(China), Doosan Heavy Industries & Construction (South Korea), Suzlon
(India), A2SEA (Denmark) and EEW-Group (Germany).
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Segmentation
The global offshore wind market has been
segmented on the basis of component type and location.
Based on component type, the global
offshore wind market has been segmented into turbine, substructure, electrical
infrastructure, and others. Among these, the turbine segment commands for the
major share of the global offshore wind market as it is the most important
component of the offshore wind farm.
Based on location, the global offshore
wind market has been segmented into shallow water (<30m depth), transitional
water (30m-60m depth), and deep water (>60m depth). Among these, the shallow
water (<30m depth) segment commands for the maximum share of the global offshore
wind market.
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