Offshore Wind Turbines Market Future Scope Analysis Report 2020-2030

𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐖𝐢𝐧𝐝 𝐓𝐮𝐫𝐛𝐢𝐧𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

In terms of value, the global offshore wind turbines market is expected to reach US$ 120 Bn by 2030, expanding at a CAGR of ~8% during the forecast period. Based on volume, the global offshore wind turbines market is estimated to reach 65,037 MW by 2030, expanding at a CAGR of ~8% during the forecast period.

𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰 -https://www.transparencymarketresearch.com/offshore-wind-turbines-market.html

Among foundation types, the monopile segment is anticipated to contract due to increase in average turbine size, which requires large foundations. In terms of location proximity, the shallow water segment held larger share of the global offshore wind turbines market in 2019. However, the trend for deeper waters (up to 60 meters) for proposed wind farms is projected to rise by 2030. The 5MW & above capacity segment is likely to account a major share of the global offshore wind turbines market by 2030 due to installations of large-sized turbines in Europe and Asia Pacific. The offshore wind turbines market in Asia Pacific is expected to expand at a substantial pace during the forecast period. The region installed 2.5 GW of offshore wind capacity in 2019; of this, China installed 2.4 GW capacity.

𝐌𝐚𝐣𝐨𝐫 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐨𝐟 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐖𝐢𝐧𝐝 𝐓𝐮𝐫𝐛𝐢𝐧𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Lucrative incentive mechanism with favorable regulatory frameworks for offshore wind power generation is propelling the demand for offshore wind turbines across the globe. Essential support incentive schemes and regulatory frameworks are driving the global offshore wind turbines market. Incentives are anticipated to be provided until the offshore wind power generation technology develops significantly. The offshore wind turbines market is likely to remain largely dependent on policy-based incentive schemes provided to offshore wind power generation projects in order to ensure capacity addition unless considerable reduction in cost is achieved in these projects.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞 -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=8785

Rapid advancements in offshore wind technologies and addition of large capacity offshore wind turbines are increasingly becoming a possibility with rise in the pace of advancement of offshore wind technology in Europe, the U.S., and China. This advancement of technology is anticipated to reduce the levelized cost of electricity from offshore wind in the near future. This, in turn, is likely to propel the demand for offshore wind turbines across the globe.

𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐎𝐟𝐟𝐞𝐫𝐬 𝐋𝐮𝐜𝐫𝐚𝐭𝐢𝐯𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐭𝐨 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐖𝐢𝐧𝐝 𝐓𝐮𝐫𝐛𝐢𝐧𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Asia Pacific dominated the global offshore wind turbines market in 2019, owing to significant demand for renewable fuel generation in the region. The wind power sector has been dominated by China and Southeast Asia (particularly Thailand and Vietnam). These countries are projected to play a key role in the growth of installations of offshore wind turbines. Rise in penetration of offshore wind turbines in major countries such as China is also projected to boost the offshore wind turbines market in Asia Pacific during the forecast period.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=8785

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐖𝐢𝐧𝐝 𝐓𝐮𝐫𝐛𝐢𝐧𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

In June 2020, Lloyd's Register Group Limited announced that it had won a contract to provide consultancy design services for control rooms at the 88-MW Hywind Tampen floating wind farm in the Norwegian North Sea. As part of the Human-Machine Interface (HMI) engineering services contract, Lloyd's Register Group Limited will help with the integration into the existing onshore wind control room for Hywind Tampen, which would be located together with an existing control room for Valemon, an unmanned offshore installation in the North Sea. In June 2020, DEME, a dredging company, announced that the first of 58 Siemens Gamesa turbines had been installed at the 487-MW SeaMade cluster of offshore wind projects off the coast of Belgium .The Belgian firm is tasked with the installation of monopile foundations, subsea cables, and two offshore substations for wind farms.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐨𝐧 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞 𝐨𝐟 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐖𝐢𝐧𝐝 𝐓𝐮𝐫𝐛𝐢𝐧𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

Dynamics of the global offshore wind turbines market are dependent on long-term contracts, goodwill of companies, and product portfolio. Internationally organized players and manufacturers with integrated operations possess competitive advantages due to the expertise in turbine manufacturing and power supply.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=8785

Major players operating in the global offshore wind turbines market are Enercon GmbH, Siemens Gamesa Renewable Energy, S.A., General Electric, Nordex S.E., Xinjiang Goldwind Science & Technology Co., Ltd., Vestas, Scheidt & Bachmann GmbH, Suzlon Energy Limited, Guodian United Power Technology Company Ltd, and Ørsted A/S.

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭

Rohit Bhisey
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