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Offshore Hydropower Market: Soaring Demand for Cleaner Energy Drives Growth, Observes TMR 2024
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The increasing concerns about the depleting natural resources have shifted focus towards renewable sources of energy, which has had a major positive impact on the global market. The global market is expected to witness a massive demand due to energy storage advantages that are offered by pumped hydropower storage. Analysts predict that the demand for pumped storage is likely to be higher than impoundment plants and diversion plants.
Geographically, the global offshore hydropower market is segmented into North America, Eastern Europe, Western Europe, Asia Pacific, Latin America, and the Middle East and Africa. Of all these regions, the Asia Pacific is expected to dominate the global market in the coming years. In increasing demand energy in the emerging economies of China and India is expected to be a significant boost to Asia Pacific offshore hydropower market. Furthermore, the growing number of initiatives by the governments and private organizations about green technologies is also expected to favor the global market.
On the other side, the global offshore hydropower market faces some tough challenges. The negative impact of building large production facilities on the surrounding environment are expected to hamper the global market in the near future. Furthermore, the prerequisite of getting several permits to build large production units is a long-drawn process, which has tremendously hampered the overall market. Analysts anticipate that the high initial investment is also likely to threaten the global offshore hydropower market’s growth.
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Some of the leading players in the global offshore hydropower market are First Solar, Calpine Corp, China Yangtze Power, and Siemens among others. The research report profiles these players and provides a thorough understanding of their expansion plans for the near future. The analysts have used Porter’s five forces analysis to determine the nature of the competitive landscape and the intensity of the competitive rivalry. Furthermore, the publication also provides an insightful take on the business and marketing strategies and research and development plans for the forecast period.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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