Global Offshore Wind Market to Record an Exponential CAGR of 16% by 2023

“Offshore Wind Market”
Global Offshore Wind Market Report by Component (Turbine, Location, Electrical Infrastructure), By Location and By Region – Forecast to 2023

Market Research Future adds new report of “Global Offshore Wind Market Research Report- Forecast 2023” it contains Company information, geographical data and Table of Content

Competitive Analysis:

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)

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Intended Audience

  • Distributer & Supplier companies
  • End Users
  • Consultants and Investment bankers
  • Government as well as Independent Regulatory Authorities 

Market Scenario:

Offshore Wind energy farms are constructed offshore on continental shelves to harvest wind energy and generate electricity. As offshore winds are comparatively of higher current as compared to land winds, a higher contribution of electricity generation can be obtained through these installations.

Offshore Winds are steady and are of 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. However, high initial capital cost of projects with high maintenance cost and logistics issues can hinder the offshore wind market. The high tidal winds & bad weather conditions making offshore wind farms difficult for access in the event of problem rectification and preventive maintenance, will restrain the global offshore wind market.

The global offshore wind market is expected to grow at a CAGR of 16% during the forecast period.

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Market Segmentation:

  • By Component; Turbine, Location, Electrical Infrastructure
  • By Location; Shallow Water (< 30m Depth), Transitional Water (30m – 60m Depth) and Deep Water (> 60m Depth)
  • By Region;

Study Objectives of Global Offshore Wind Market

  • To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global offshore wind market.
  • To provide insights about factors affecting the market growth
  • To analyze the global offshore wind market based on various tools such as Supply Chain Analysis, and Porter’s Five Forces Analysis
  • To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries
  • To provide country level analysis of the market with respect to the current market size and future prospective
  • To provide country level analysis of the market for segments by material type, product, application and region
  • To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

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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. The European region is currently the leading in offshore wind market and is followed by North-America and Asia. 

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