Offshore
Wind Market: Synopsis
The detailed report published by Market Research
Future (MRFR) projects that the global offshore wind market is marked to
exhibit significant expansion at a CAGR of 11.12% during the forecast period
from 2017 to 2023. The global offshore wind market is also anticipated to reach
the market valuation of USD 49,741 Mn by the end of the review period. growing
investment for the development of non-conventional electricity generation by
utilizing renewable sources, increasing preference towards renewable energy sources
over non-renewable sources as a result of rise in environmental concerns, and
increased research activities for the development of highly durable windmills
that require low maintenance cost are majorly propelling the growth of the
global offshore wind market during the assessment period.
Other factors such as increasing approval for the
installation of wind farms in various region in order to tackle the major issue
of energy crisis by developing alternative energy sources that can harvest
energy through natural elements and rise in concerns regarding the adverse
effects caused on the environment due to exploitation of non-renewable energy
sources such as fossil fuels are fueling the growth of the global offshore wind
market
Offshore
Wind Market: Segmental Analysis
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. The factors such as easy installation and maintenance as
compared to the other two locations, favorable surrounding conditions and
cost-effective nature are majorly contributing to the growth of the shallow
water (<30m depth) segment in the global offshore wind market during the
assessment period.
Offshore
Wind Market: Regional Analysis
Geographically, the global offshore wind market has
been segmented into four major regions such as Asia Pacific (APAC), Europe,
North America, and the rest of the world. The Europe region commands the
maximum share of the global offshore wind market during the assessment period.
The factors such as growing investment for the development of non-conventional
electricity generation by utilizing renewable sources, increasing preference
towards renewable energy sources over non-renewable sources as a result of rise
in environmental concerns, and increased research activities for the
development of highly durable windmills that require low maintenance cost are
majorly propelling the growth of the global offshore wind market in the Europe
region.
Key
Players
The key market players profiled by Market Research
Future (MRFR) that are operating in the global offshore wind market are General
Electric (the U.S.), Siemens (Germany), Doosan Heavy Industries &
Construction Co., Ltd (Korea), Vestas Wind Systems A/S (Denmark), Senvion SA
(Luxembourg), ENERCON GmbH (Germany), Suzlon Group (India), Dong Energy A/S
(Denmark), EEW Group (Germany), and Goldwind Windenergy GmbH (China).
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Market Research Future:
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