Global Offshore Wind Market is predicted to grow at approximately 16% by 2023
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.
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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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)
- EEW-Group (Germany).
The Offshore Floating Wind industry has huge potential and a Floating offshore wind can potentially reduce the cost of installation very significantly because of the use of the same techniques as the oil and gas industry and it is also less invasive in terms of the seabed.
Floating offshore wind is now a viable technology and ready to be rolled out on an industrial scale in a scenario especially when the world is facing fundamental challenges of climate change and geopolitics to the energy markets. And where the key players operating in the market are continually striving for new ways to utilise their expertise in the energy industry, exploring opportunities in new energy as well as driving innovation in oil and gas around the world. Oil & Gas companies are trying to be the most carbon-efficient oil and gas producers, as well as driving innovation in offshore wind.
Currently, the Offshore Wind market is spurting owing 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. 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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Table of content
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Offshore Wind Market, By Component
4.4 Electrical Infrastructure
5 Global Offshore Wind Market, By Location
5.2 Shallow Water (< 30m Depth)
5.3 Transitional Water (30m – 60m Depth)
5.4 Deep Water (> 60m Depth)
List of Tables
Table 1 Global Offshore Wind Market, By Component
Table 2 Global Offshore Wind Market, By Location
Table 3 Global Offshore Wind Market, By Regions
Table 4 North America Offshore Wind Market, By Component
Table 5 North America Offshore Wind Market, By Location
Table 6 U.S. Offshore Wind Market, By Component
Table 7 U.S. Offshore Wind Market, By Location
Table 8 Canada Offshore Wind Market, By Component
Table 9 Canada Offshore Wind Market, By Location
List of Figures
Figure 1 Research Application
Figure 2 Global Offshore Wind Market: By Component (%)
Figure 3 Global Offshore Wind Market: By Location (%)
Figure 4 Global Offshore Wind Market: By Region
Figure 5 North America Offshore Wind Market, By Component (%)
Figure 6 North America Offshore Wind Market, By Location (%)
Figure 7 Europe Offshore Wind Market, By Component (%)
Figure 8 Europe Offshore Wind Market, By Location (%)
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