The global Offshore Wind Energy Market will be worth USD 106.10 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing trend of industrialization in developing economies. The rapid urbanization and the increasing demand for electricity in developing countries are expected to drive the offshore wind energy market demand.
The emergence of technologically advanced platforms powered by Artificial Intelligence, robotics, machine learning, data analytics, and the Internet of things, Big data, the cloud help maintain wind energy and monitor the turbine’s energy level statistics. The technologies also help the turbines in reserving more energy for no wind situations and reduce the risks of damage by giving prior information about system failures.
The report provides detailed insights into Offshore Wind Energy market revenue trends, industry trends, consumer trends, market size, market share, market revenue growth drivers, and forecast, along with ranging impact of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in Offshore Wind Energy market size over the forecast period, 2020–2028. The report includes profiles of major Offshore Wind Energy players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Also included are details regarding top Offshore Wind Energy market players, manufacturers, and vendors and the various strategies being deployed in the market and objectives for these strategies.
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Global Offshore Wind Energy market revenue growth is primarily driven by rising focus by major companies on product portfolio expansion, entry into new and untapped domestic and international markets, rising investments my top Offshore Wind Energy market players, manufacturers, and vendors in strategic agreements and contracts, and rapidly increasing competition in the Offshore Wind Energy market.
In addition, rapidly rising demand and deployment in respective sectors/industries in major and developing countries is supporting growth in terms of Offshore Wind Energy market share contribution of these countries. In addition, Offshore Wind Energy market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries.
Key Highlights From The Report
- In February 2019, Vestas entered into a partnership with a local manufacturing service provider, Marand Precision Engineering, for Wind Turbine Assembly Facility in Geelong. The partnerships will help Vestas to expand its wind turbine assembly in the Victorian renewable energy sector.
- The Fixed structure held the largest market share of 57.5% in the year 2019. Cost-effectiveness and ease of operation of the fixed structure have resulted in the segment’s increasing demand.
- Deep water (>60m Depth) is forecasted to grow with the fastest CAGR of 15.9% over the forecast period. The reductions in installations cost, improved engineering of turbines, and the development of turbines with floating substructures are expected to drive the segment’s demand.
Top key vendors in Offshore Wind Energy Market include are:
Vestas, General Electric Company, Adwen, Doosan Heavy Industries and Offshore Wind Energy Co., Ltd, Siemens Gamesa Renewable Energy, S.A., Senvion SA, Sinovel Wind Group Co., ABB, Ltd.
On the basis of the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate for each application, including
- Electrical Infrastructure
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In terms of Offshore Wind Energy market share and revenue contribution to the global Offshore Wind Energy market, North America is expected to maintain its dominance over other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting rapid increase in Offshore Wind Energy market share.
The market intelligence report on the Offshore Wind Energy Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
Region wise performance of the Offshore Wind Energy industry
North America Offshore Wind Energy market revenue growth was relatively higher than that of other regional markets in 2020. North America Offshore Wind Energy market revenue is expected to continue to remain dominant over the forecast period, supported by robust presence of top market players, manufacturers, and vendors, and favorable government policies and norms in countries in the region.
Asia Pacific Offshore Wind Energy market revenue registered fastest growth rate in 2020, and this trend is expected to continue over the forecast period. Asia Pacific Offshore Wind Energy market revenue growth is driven by significant market revenue contribution from China, India, and South Korea. China is a robust hub for top Offshore Wind Energy market players, manufacturers, and vendors, as well as easy access to raw materials and workforce at more economical costs that that of other regional markets.
Europe Offshore Wind Energy market revenue is expected to continue to remain steady over the forecast period, attributed to changing trends in various market and robust focus on research and development initiatives by top market players, manufacturers, and vendors to expand global footprint and drive revenues and profits.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
We can customize our reports for our customers, for instance, we can add or remove manufacturers, applications or product types, whatever you need in the report. Ask for it by contacting us@ https://www.emergenresearch.com/request-for-customization/276
The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Offshore Wind Energy industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Offshore Wind Energy market across different regions?
- Who are the major driving forces expected to decide the fate of the Offshore Wind Energy industry worldwide?
- Who are the prominent market players making a mark in the Offshore Wind Energy market with their winning strategies?
- Which Offshore Wind Energy industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Offshore Wind Energy market?
Table of Content
Chapter 1. Methodology & Sources
1.1. Offshore Wind Energy Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Offshore Wind Energy Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Offshore Wind Energy Market Segmentation & Impact Analysis
4.1. Offshore Wind Energy Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Offshore Wind Energy Market indicators analysis
4.2.2. Offshore Wind Energy Market drivers analysis
188.8.131.52. Rapid urbanization and industrialization
184.108.40.206. Stringent government regulations regarding carbon emissions
220.127.116.11. Increasing prevalence of respiratory diseases
18.104.22.168. Rising need to enhance indoor air quality
4.2.3. Offshore Wind Energy Market restraints analysis
22.214.171.124. High cost associated with the maintenance of Offshore Wind Energy products
126.96.36.199. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. Offshore Wind Energy Market Revenue Share By Manufacturers
10.2. Mergers & Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.3. Asia Pacific
10.5.1.4. Middle East & Africa
10.5.1.5. Latin America
10.5.2.1. North America
10.5.2.3. Asia Pacific
10.5.2.4. Middle East & Africa
10.5.2.5. Latin America
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Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
Facebook | LinkdIn | Twitter | Blogs