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Offshore Wind Market Expected to Reach $99.87 billion by 2026 - Siemens, ABB, General Electric, Adwen, Eew, A2 SEA, Sinovel Wind Group, Nordex, Senvion, Nexans, MHI Vestas Offshore Wind, Ming Yang Smart Energy

09-05-2019 03:52 PM CET | Energy & Environment

Press release from: Premium Market Insights

Offshore Wind Market

Offshore Wind Market

According to Publisher, the Global Offshore Wind Market is accounted for $26.25 billion in 2017 and is expected to reach $99.87 billion by 2026 growing at a CAGR of 16.0% during the forecast period. Rising share of renewable in the power generation mix and government incentives following renewable energy deployment are some of the factors propelling the market growth. However, high capital cost and maintenance and logistics issues are hindering the market growth.

Offshore wind power is generated from wind farms constructed in the ocean on the continental shelf. These wind farms are installed in the ocean for energy harvesting purpose. Offshore medium offers greater wind speed as compared to offshore medium.

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Some of the key players profiled in the Offshore Wind Market include Siemens AG, ABB, Ltd., General Electric Company, Adwen, Eew Group, A2 SEA, Sinovel Wind Group Co., Nordex SE, Senvion SA, Nexans S.A. , MHI Vestas Offshore Wind A/S and Ming Yang Smart Energy Group Co.

Locations Covered:
- Deep Water (> 60m Depth)
- Transitional Water (30m - 60m Depth)
- Shallow Water (< 30m Depth)

Components Covered:
- Electrical Infrastructure
- Substructure
- Turbine
- Other Components

Classifications Covered:
- Type I
- Type II
- Type III

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