Europe Offshore Wind Energy Market- Business Growth, Regional Trends, Sales Revenue, Size, Development Status, Key Players Analysis And Comprehensive Research Study Till 2024

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The Europe offshore wind energy market was 13.4 GW in 2016, and is expected to reach 29.8 GW by 2024, expanding at a CAGR of 12.0% from 2016 to 2024.

The latest market report published by Credence Research, Inc. “Europe Offshore Wind Energy Market, By Geography- Growth, Future Prospects and Competitive Analysis, 2016 – 2024,” the Europe offshore wind energy market was 13.4 GW in 2016, and is expected to reach 29.8 GW by 2024, expanding at a CAGR of 12.0% from 2016 to 2024.

Market Insights

Europe offshore wind energy market is projected to witness robust growth owing to increasing investment in offshore wind energy projects. Rising energy demand and growing concerns over the emission of greenhouse gases is influencing the governments to promote the adoption renewable energy source such as wind and solar. Increasing investment in the offshore wind projects especially in Europe is anticipated to fuel the growth of offshore wind energy market. However, high cost of installation, delayed regulatory approvals and stringent labour laws are factors expected to restraint the growth of Europe offshore wind energy market during the forecast period (2016-2024).

Browse the full Europe Offshore Wind Energy Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024 report at https://www.credenceresearch.com/report/europe-offshore-wind-energy-market

Europe Offshore Wind Energy Market

 

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U.K. was the largest market for offshore wind energy in 2015 among all European countries. Increasing investment in offshore wind energy projects from private sector coupled with favorable government policies such as Energy Act, 2013 and establishment of Offshore Wind Cost Reduction Task Force to achieve levelised costs of offshore wind to £100 per MW/h by 2020 represent high growth for the offshore wind energy market during the forecast period (2016-2024).

Germany is projected to be the fastest growing segment among all European countries during the forecast period. High number of approved and pipeline projects coupled with increasing investment from private sector in offshore wind energy is anticipated to fuel the growth of offshore wind energy in the region. The country is anticipated to witness addition of 4.5 GW capacity of installation offshore wind energy from under construction projects in next five years. Further, approval of new projects and pipeline projects is projected to expand the installation capacity to 9.4 GW by 2020. The country also holds second largest market share on terms of installation capacity in Europe. The country is projected to gain significant market share by 2023. Other regions such as Denmark and Netherlands are also anticipated to witness high growth during the forecast period (2016-2024).

Considering the competition, the Europe offshore wind energy market is expected to witness a significant rise in investment in research and development with the focus to reduce installation cost of offshore wind installations. Further, market has witnessed strategic mergers and collaborations among Europe offshore wind energy regional and global players. Such growth strategies are focused on increasing their market penetration in consuming economies.

ToC:

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Europe Offshore Wind Energy Market Snapshot
2.1.1. Europe Offshore Wind Energy Market by Country, 2015
2.1.2. Market Drivers, Challenges and Future Prospects
2.1.3. Key Players

3. Global Offshore Wind Energy Market Dynamics
3.1. Market Overview
3.2. Value Chain Analysis
3.3. Cost Tear down Analysis of Offshore Wind Energy Systems
3.4. Global Offshore Wind Energy Market Overview
3.5. Market Share Analysis of wind turbine OEM’s
3.6. Comparison of Europe Installed vs. Under construction wind projects by Country
3.7. Drivers
3.8. Challenges
3.9. Future Prospects
3.10. Impact Analysis of Drivers and Challenges
3.11. Porter’s Five Force Analysis
3.11.1. Bargaining Power Of Suppliers
3.11.2. Bargaining Power Of Buyers
3.11.3. Threat Of Substitutes
3.11.4. Threat Of New Entrants
3.11.5. Industry Rivalry

4. Europe Offshore Wind Energy Market Size (US$ Mn) (MW), By Geography, 2013 – 2024 
4.1. Overview
4.1.1. Market Share Analysis by Geography, 2015 vs. 2024 
4.1.2. Attractive Investment Proposition by Country
4.2. Europe Offshore Wind Energy Market Size (US$ Mn) (MW), By Country, 2013 – 2024 
4.2.1. Germany
4.2.2. U.K.
4.2.3. Denmark
4.2.4. Belgium
4.2.5. Netherlands
4.2.6. Sweden
4.2.7. Rest of Europe

…………………….toc continued

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Browse the full Europe Offshore Wind Energy Market – Growth, Future Prospects and Competitive Analysis, 2016 – 2024 report at https://www.credenceresearch.com/report/europe-offshore-wind-energy-market

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The advantage of locating wind turbines offshore is that the wind is much stronger off the coasts, and unlike wind over the continent, offshore breezes can be strong in the afternoon, matching the time when people are using the most electricity. Offshore turbines can also be located close to the load centers along the coasts, such as large cities, eliminating the need for new long-distance transmission lines. However, there are several disadvantages of offshore installations, related to more expensive installation, difficulty of access, and harsher conditions for the units. Locating wind turbines offshore exposes the units to high humidity, salt water and salt water spray which negatively affect service life, cause corrosion and oxidation, increase maintenance and repair costs and in general make every aspect of installation and operation much more difficult, time-consuming, more dangerous and far more expensive than sites on land. The humidity and temperature is controlled by air conditioning the sealed nacelle.Sustained high-speed operation and generation also increases wear, maintenance and repair requirements proportionally. The cost of the turbine represents just one third to one half of total costs in offshore projects today, the rest comes from infrastructure, maintenance, and oversight. Costs for foundations, installation, electrical connections and operation and maintenance (O&M) are a large share of the total for offshore installations compared to onshore wind farms. The cost of installation and electrical connection also increases rapidly with distance from shore and water depth. Other limitations of offshore wind power are related to the still limited number of installations. The offshore wind industry is not yet fully industrialized, as supply bottlenecks still exist as of 2017. Wikipedia” 

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