Offshore Wind Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2025

Latest Industry Research: 2019 Global Offshore Wind Market Report

PUNE , MAHARASHTRA, INDIA, December 16, 2019 /EINPresswire.com/ -- Global Offshore Wind Industry

Overview

Offshore wind refers to the use of wind farms constructed in water bodies to harvest wind energy to generate electricity. The global offshore wind market was valued at $27,019.1 million in 2017 and is predicted to go up to $55,109.6 million by 2025, at a CAGR of 15.32%.

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There is a growing awareness among masses for the refurbishment of existing power generation technologies to reduce greenhouse gas emissions. Government regulations stating optimum extraction of energy sources and the growing adoption of sustainable energy resources will boost the market growth. Furthermore, limited use of land, lower human intervention, and reduced maintenance requirements are some factors that can be attributed to the rising demand for offshore wind.

Further, electricity prices are higher than ever, and reduced availability of space constraints for installing solar energy systems will favourably impact the offshore wind market. Growth in the number of integration and development projects for installing large turbines that are product efficient and advancing blade size will improve the market demand. Better investment opportunities, coupled with the development of technologically advanced manufacturing facilities and an increase in energy consumption across the globe, will propel the market demand.

The market will further benefit from the rising adoption of high voltage alternating current array cables and technologically advanced cooling systems.

Segmentation

The offshore wind market can be segmented by water segments and infrastructure. Based on water segments, off-shore wind turbines can be installed in three water bodies, shallow water, lakes, and deep water. Of these, shallow water has the highest market share. This hike is because such off-shore wind systems are cost-effective, owing to improved weather conditions. Installing wind turbines in deep water is more costly because of the high maintenance costs associated with it. These requirements may vary based on region, turbine capacity, and weather conditions that determine wind speed. Shallow water segment is mostly used in regions like Germany and Denmark, where the weather is favourable.

Based on infrastructure, electrical infrastructure has the most substantial market contribution. This is because, in such a system, offshore substation controls the electric system and voltage of electricity produced by the wind turbines resulting in lower electrical losses. In a land-based transmission infrastructure, onshore transmission or conversion equipment is used which connects the system to a wind farm power grid.

Regional Analysis

Geographically, the market can be segmented into North America, Europe, and the Asia Pacific. North America is the highest market contributor, followed by Europe. The favourable weather conditions in these regions and the prevalence of technologically advanced systems result in the higher market demand in these regions. Asia-Pacific is an emerging market and has witnessed a rise in off-shore wind demand in recent years. Latin America and Africa are also predicted to play a major role in market demand.

Industry News

Adoption of advanced technologies is the best way to get ahead of the competition. Market players have adopted strategies like mergers & acquisitions, collaborations, and partnerships to get a strong foothold in the market. 

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Table of Contents
Executive Summary
1 Industry Overview of Offshore Wind
2 Manufacturing Cost Structure Analysis
3 Development and Manufacturing Plants Analysis of Offshore Wind
4 Key Figures of Major Manufacturers
5 Offshore Wind Regional Market Analysis
6 Offshore Wind Segment Market Analysis (by Type)
7 Offshore Wind Segment Market Analysis (by Application)
8 Offshore Wind Major Manufacturers Analysis
8.1 Adwen
8.1.1 Adwen Offshore Wind Production Sites and Area Served
8.1.2 Adwen Product Introduction, Application and Specification
8.1.3 Adwen Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.1.4 Main Business and Markets Served
8.2 Ming Yang Smart Energy
8.2.1 Ming Yang Smart Energy Offshore Wind Production Sites and Area Served
8.2.2 Ming Yang Smart Energy Product Introduction, Application and Specification
8.2.3 Ming Yang Smart Energy Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.2.4 Main Business and Markets Served
8.3 Doosan Heavy Industries
8.3.1 Doosan Heavy Industries Offshore Wind Production Sites and Area Served
8.3.2 Doosan Heavy Industries Product Introduction, Application and Specification
8.3.3 Doosan Heavy Industries Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.3.4 Main Business and Markets Served
8.4 General Electric
8.4.1 General Electric Offshore Wind Production Sites and Area Served
8.4.2 General Electric Product Introduction, Application and Specification
8.4.3 General Electric Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.4.4 Main Business and Markets Served
8.5 Mhi Vestas Offshore Wind
8.5.1 Mhi Vestas Offshore Wind Offshore Wind Production Sites and Area Served
8.5.2 Mhi Vestas Offshore Wind Product Introduction, Application and Specification
8.5.3 Mhi Vestas Offshore Wind Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.5.4 Main Business and Markets Served
8.6 Senvion
8.6.1 Senvion Offshore Wind Production Sites and Area Served
8.6.2 Senvion Product Introduction, Application and Specification
8.6.3 Senvion Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.6.4 Main Business and Markets Served
8.7 Siemens
8.7.1 Siemens Offshore Wind Production Sites and Area Served
8.7.2 Siemens Product Introduction, Application and Specification
8.7.3 Siemens Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.7.4 Main Business and Markets Served
8.8 Sinovel Wind
8.8.1 Sinovel Wind Offshore Wind Production Sites and Area Served
8.8.2 Sinovel Wind Product Introduction, Application and Specification
8.8.3 Sinovel Wind Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.8.4 Main Business and Markets Served
8.9 ABB
8.9.1 ABB Offshore Wind Production Sites and Area Served
8.9.2 ABB Product Introduction, Application and Specification
8.9.3 ABB Offshore Wind Production, Revenue, Ex-factory Price and Gross Margin (2014-2019)
8.9.4 Main Business and Markets Served

9 Development Trend of Analysis of Offshore Wind Market
10.1 Marketing Channel
11 Market Dynamics
12 Conclusion
13 Appendix

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Norah Trent
WISEGUY RESEARCH CONSULTANTS PVT LTD
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