Offshore Wind Market Register a Hugh Growth In Energy Industry by 2025 With Top Leaders Siemens AG, General Electric, ABB, Ltd., EEW Group, Nexans, and A2SEA A/S
Global Offshore Wind Market โ InsightsOffshore 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.
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๐๐ค๐ข๐ ๐ค๐ ๐ฉ๐๐ ๐ข๐๐๐ค๐ง ๐ฅ๐ก๐๐ฎ๐๐ง๐จ ๐๐ฃ ๐ฉ๐๐ ๐๐ก๐ค๐๐๐ก ๐ค๐๐๐จ๐๐ค๐ง๐ ๐ฌ๐๐ฃ๐ ๐ข๐๐ง๐ ๐๐ฉ ๐๐ง๐ ๐๐๐ ๐๐๐จ๐ฉ๐๐จ, ๐๐๐๐ข๐๐ฃ๐จ ๐ผ๐, ๐๐๐ฃ๐๐ง๐๐ก ๐๐ก๐๐๐ฉ๐ง๐๐, ๐ผ๐ฝ๐ฝ, ๐๐ฉ๐., ๐๐๐ ๐๐ง๐ค๐ช๐ฅ, ๐๐๐ญ๐๐ฃ๐จ, ๐๐ฃ๐ ๐ผ2๐๐๐ผ ๐ผ/๐.
Key factors influencing growth in offshore wind market are high investments in renewable sources of energy and favorable government policies. For instance, the National Ocean Industries Association was U.Sโs first offshore wind farm in 2017. Moreover, increasing concern toward the non-renewable source of energy such as fossil fuel, awareness for their harmful effects of greenhouse gases such as carbon dioxide, and rising demand for electricity will help in increasing the growth of offshore wind market.
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In 2016, Europe was the leading region in the offshore wind market with a market share of 56.99% and is expected to reach US$ 39.39 billion by 2025 with a CAGR of 12.9%. The main reason for the expansion of offshore wind market in Europe is owing to its favorable weather for the offshore wind market. According to Global Wind Energy Council (GWEC), 2016, out of all the offshore wind installations, around 88% were located in costal waters of 10 European economies and remaining installations (around 12%) was located in China, Japan, Taiwan, South Korea, and the U.S.
๐๐ฎ๐ซ๐จ๐ฉ๐ ๐ฅ๐๐ ๐ญ๐ก๐ ๐จ๐๐๐ฌ๐ก๐จ๐ซ๐ ๐ฐ๐ข๐ง๐ ๐ฆ๐๐ซ๐ค๐๐ญ, ๐ฐ๐ก๐ข๐๐ก ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐ฅ๐๐๐ ๐ญ๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ ๐๐ง๐ ๐ฏ๐๐ฅ๐ฎ๐๐ ๐๐ญ ๐๐$ ๐๐.๐๐ ๐๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐. ๐๐ก๐ ๐ซ๐๐ ๐ข๐จ๐ง ๐ข๐ฌ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐๐ ๐ญ๐จ ๐ฐ๐ข๐ญ๐ง๐๐ฌ๐ฌ ๐ ๐๐๐๐ ๐จ๐ ๐๐.๐% ๐ข๐ง ๐ญ๐๐ซ๐ฆ๐ฌ ๐จ๐ ๐ซ๐๐ฏ๐๐ง๐ฎ๐ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐ ๐๐๐๐ - ๐๐๐๐.
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