Offshore Wind Power Market– Global Opportunities and Forecast, 2020-2027
Offshore wind power is the usage of wind farms constructed in water bodies, to convert wind energy into electricity. Offshore wind speed is faster than that on land, hence even a small increase in wind speed yields a larger energy production. Offshore wind energy has multiple advantages similar to land-based wind farms as they do not consume water, provide renewable energy, create jobs, and do not emit environmental pollutants or greenhouse gases. It also overcomes economic, technical, and political challenges for commercial and large-scale deployment. Multiple developing countries have opened up opportunities for offshore wind power market due to the rising emphasis on reducing carbon emission.
The major factors propelling the growth of the Offshore Wind Power market include the increasing government initiatives to reduce carbon footprint, growing energy demand coupled with the rising share of renewable energy in the power generation mix, and is highly cost-efficient as compared to the traditional turbines. Historically, the cost of offshore wind power was higher than that of onshore wind generation as the designs of offshore wind turbines were technically challenging, facing both aerodynamic and hydrodynamic loads. However, along with passing years, multiple changes have been made in turbine design. Through technical innovation, turbine equipment manufacturers have been able to reduce the turbine cost and managed to decrease the total mass. Therefore, continuous growth in the capacity of the off-shore wind power turbines, design improvements, and upscaling of wind turbine is catalyzing the growth of the Offshore Wind Power market globally.
Request for Sample Report – https://www.gmiresearch.com/report/offshore-wind-power-market/sample-request
The major players in the market include Siemens AG, ABB Ltd, Nexans SA, EEW Group, General Electric Co, Sinovel Wind Group Co. Ltd, Dong Energy A/S, Vestas Wind Systems A/S, Equinor Energy AS, and MHI Vestas Offshore Wind among others.
The Global Offshore Wind Power market has been segmented based on Component, Location, and Key Region. Based on Component, the market is segmented into Turbine, Substructure, Electrical Infrastructure, and Others. Based on Location, the market is segmented into Shallow Water, Transitional Water, and Deep Water.
Request for Customization – https://www.gmiresearch.com/report/offshore-wind-power-market/request-for-customization
Key questions answered in this research report:
- At what pace is the global Offshore Wind Power market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in the global Offshore Wind Power market? What will be the impact of drivers and restraints in the future?
- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Offshore Wind Power market?
- What are the various components of the global Offshore Wind Power market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
For Additional Insights, Click to Access Complete Report – https://www.gmiresearch.com/report/offshore-wind-power-market/
About GMI Research
GMI Research is a market research and consulting firm which provides research-based solutions to business executives and investment professionals so that they can make right business & investment decisions faster based on real facts. We help business leaders through independent fact-based insight, ensuring their business achieve success by beating the competition. GMI Research’s leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our client’s business problems and add significant value to long lasting relationship.
The company provides syndicated research report, customized research, sales enablement research, data analytics and KPO (knowledge process outsourcing) service for Electronics & Semiconductors, Information Communication and Technology, Energy & Power, Healthcare, Automotive, Transportation & Logistics and Chemical industries. Our analysts and consultants who are passionate about research and consulting are recruited from renowned local and global universities and have worked with the leading local and international organizations.
Contact Us
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: +353 1 442 8820
Address:Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate
City: Dublin
State: Dublin
Country: Ireland
Website: www.gmiresearch.com