The global offshore wind energy market is projected to demonstrate healthy growth in the coming few years. The rising focus on renewable energy around the world will drive the wind energy sector significantly. Furthermore, many countries are planning to add to their wind power production capacity, while other countries are planning to establish new wind farms. The growing opportunities in the global offshore wind energy market are attracting major investments from domestic and international firms.
Moreover, these opportunities in the global offshore wind energy market are also projected to generate several job opportunities. Broadly, the global offshore wind energy market is segmented on the basis of region. The key regions evaluated in the global offshore wind energy market are North America, Europe, Asia Pacific, and Rest of the World (RoW).
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The research study on the global offshore wind energy market delivers a comprehensive analysis of the major deals in the industry along with their impact on the industry in the coming few years. Some of the key deals analyzed in the global offshore wind energy market report are: Joint venture between Vestas and Mitsubishi, joint venture between Areva and Gamesa, and Siemens’ acquisition of A2SEA.
Overview of the Global Wind Energy Market
The global offshore wind energy market benefits from the numerous advantages it holds over its onshore counterpart. Furthermore, the favorable incentive mechanism and regulatory framework is fuelling investment and accelerating capacity additions in the global offshore wind energy market. Another key market driver of the global offshore wind energy market is the rising utilization of project financing in offshore wind energy projects.
Propelled by these factors, the global installed capacity in the offshore wind energy market is projected to expand at a healthy CAGR of 25.0% during the forecast period from 2014 to 2022. In 2013, the installed capacity of the global offshore wind energy market was noted at 7,045.4 MW and by 2022, it is projected to be 52,120.9 MW.
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Presently, Germany is a strong contender in the global offshore wind energy market and accounts for 30% of European offshore wind farms. Location is a key advantage for Germany’s growth in the European offshore wind energy market. After Europe, Asia Pacific is the largest market for offshore wind energy. China in Asia Pacific is the only nation that has a separate target allotment in terms of offshore wind energy installations.
Even though the global offshore wind energy market will expand substantially in the coming few years, it will be challenged by a few factors. The presence of bottlenecks in the supply chain will constrain brisk project development activities in the offshore sector. Moreover, the global offshore wind energy market will be challenged by the high capital costs associated with projects.
Companies mentioned in the research report
The key companies in the global offshore wind energy market operate at a domestic and global level. Some of the key players operating in this market are China Ming Yang Wind Power, Nordex, Suzlon, Dong Energy, Sinovel Win, GE Wind Energy, Gamesa, Vestas, and Siemens. Players in the global offshore wind energy market will benefit from the opportunity of new offshore projects that use floating wind turbines.
Major regions analyzed under this research report are: Europe North America Asia Pacific Rest of the World
This report gives you access to decisive data such as: Market growth drivers Factors limiting market growth Current market trends Market structure Market projections for the coming years
Key highlights of this report Overview of key market forces propelling and restraining market growth Up-to-date analyses of market trends and technological improvements Pin-point analyses of market competition dynamics to offer you a competitive edge An analysis of strategies of major competitors An array of graphics and SWOT analysis of major industry segments Detailed analyses of industry trends A well-defined technological growth map with an impact-analysis Offers a clear understanding of the competitive landscape and key product segments
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