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Global Offshore Wind Market Emerging Technologies by Forecast to 2023

Author: Market Research Report
by Market Research Report
Posted: Jun 20, 2018

Market Highlights:-

Global offshore wind market has very broad market in coming recent years. MRFR analysts have predicted that offshore wind industry is about to grow at a rapid pace. Moreover, the economic growth with emissions reduction have given the growth, a momentum. The global offshore wind market is poised to grow over USD 49,741.0 million by 2023 at an estimated CAGR of 11.12% through the forecast period.

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.

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.

Industry Top Key Players:-

The key players of global offshore wind market are General Electric (U.S.), Siemens (Germany), Vestas Wind Systems A/S (Denmark), Senvion SA (Luxembourg), Doosan Heavy Industries & Construction Co., Ltd (Korea), Suzlon Group (India), Dong Energy A/S (Denmark), EEW Group (Germany), ENERCON GmbH (Germany) and Goldwind Windenergy GmbH (China).

Extensive research in this market has brought to light that contract is a key strategy adopted, extensively, by the players to spread their geographical presence and achieve operational efficiencies. Agreements & Partnerships, are also major strategies adopted by the major players in the global offshore wind market. This strategy is widely adopted to increase the number of offerings to the customer. New technologies and expansion of facilities for offshore wind projects, lead new product developments.

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.

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.

The report for Global Offshore Wind Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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Author: Market Research Report

Market Research Report

Member since: Mar 19, 2018
Published articles: 85

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