Offshore wind energy farms are constructed offshore on continental shelf to harvest wind energy to generate electricity. As offshore winds are comparatively of higher current as compared to land winds, a higher amount of electricity can be generated through these installations.
Offshore winds are steady and have 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 initiating capital cost of the projects with high maintenance cost
and logistics issues, can hinder the offshore wind market. Also, high
tidal winds and bad weather conditions making it difficult to access the
offshore wind farms even for problem rectification and preventive
maintenance will restrain the global 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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Market Research Analysis
North-America region is expected to grow at the highest CAGR.
The
offshore wind market in the Europe region is currently leading and is
followed by North-America and Asia-Pacific market. But it is expected
that North-America will grow at the highest CAGR, owing to the approval
of various offshore wind farm projects in countries such as U.S and
Canada, where there has been a substantial investment towards the growth
of non-conventional electricity generation. These factors will drive
the market for offshore wind market in North American region during the
forecast period.
Scope of the Report
This study provides an overview of the global offshore wind market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Offshore Wind market by its component type, by location and by region.
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By Component Type
- Turbine
- Substructure
- Electrical Infrastructure
- Others
By Location
- Shallow Water (< 30m Depth)
- Transitional Water (30m – 60m Depth)
- Deep Water (> 60m Depth)
By Regions
- North America
- Asia Pacific
- Europe
- Rest of the World
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