Offshore Wind Market 2018-2025 |Key Players MHI Vestas, Siemens AG, General Electric

Offshore wind provides the electrical energy on the continental shelf to harvest the wind energy. Wind speed is generally stronger and steady at the offshores than on the land. Offshore wind turbines are also located near to coastal areas eliminating the need for new overland transmission lines. Slight increase in speed of wind can generate a significantly greater amount of electricity, as the potential energy of wind is directly proportional to the cube of wind speed. For instance, the turbine at a site with average wind speed 16 miles per hour (mph) would produce more than around 50% electricity than 14 mph average speed of the same turbine.

Download PDF Brochure : https://www.coherentmarketinsights.com/insight/request-pdf/978

Increasing investments in renewable sources of energy and favorable government policies are the major drivers for the growth of offshore wind market. For instance, in the U.S, The National Ocean Industries Association have established the U.S’s first offshore wind farm in 2017. Furthermore, rising demand for electricity and increasing concerns toward the energy of the non-renewable source such as fossil fuel and awareness for their harmful effects of greenhouse gases such as carbon dioxide is propelling the growth of offshore wind market.

Among the three location by the depth of offshore wind turbines, shallow water offshore wind turbines dominated the market, due to cost effectiveness and easy maintenance. Due to favorable weather conditions in Europe, shallow water wind turbines are majorly installed in the region. On the basis of components, turbines components are the major contributor to the growth of offshore wind market. Different components of turbines such as, tower, rotator, blade, and nacelle have the highest share of the capital cost. Larger the turbine, more energy it produces when it rotates.

Major Players in the Global Barite Market:

Some of the major players in the global offshore wind market are MHI Vestas, Siemens AG, General Electric, ABB, Ltd., EEW Group, Nexans, and A2SEA A/S.

Talk to Analyst : https://www.coherentmarketinsights.com/insight/talk-to-analyst/978

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.