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Asia Pacific Offshore Wind Energy Market: Foreign Players Need to Capitalize on Technological Advancements to Survive Intense Cost-competitiveness, says TMR

05-31-2017 09:45 AM CET | Energy & Environment

Press release from: Transparency Market Research

Asia Pacific Offshore Wind Energy Market: Foreign Players Need

The vendor landscape of the Asia Pacific offshore wind energy market is markedly fragmented, with local and regional players accounting for nearly 45% and the top three vendors collectively holding only about 31% of the overall market in 2016, observes Transparency Market Research in a recent report. Almost all key segments of the market, including project management and development services, supply of windfarm equipment and components, installation and commissioning, and operations and maintenance services are led by domestic and regional companies.

Obtain Report Details @: http://www.transparencymarketresearch.com/asia-pacific-offshore-wind-energy-market.html

In the segment of windfarm components and equipment suppliers, for instance, local and regional companies Goldwind, Ming Yang, XEMC, and Sinovel dominate the market owing to their cost-effective products and capability to undertake aggressive research and development activities in the field of high-capacity turbines. However, foreign offshore wind turbine manufacturers are considered superior in terms of technological expertise. Thus, foreign players could capitalize on the technological advantage to make their mark and pacify the blow dealt by low price products and an intensifying cost competition.

According to the report, the Asia Pacific offshore wind energy market was pegged at US$8,960.8 mn in 2017 and is projected to reach US$60,201.5 mn by 2025 at a CAGR of 22.4% from 2017 to 2025.

Adoption of Ground Mounted and High Risk Pile Cap Foundations Gathers Strength

In terms of type of foundation, the others segment accounted for a dominant 44.9% of the Asia Pacific offshore wind energy market in 2016. The segment is expected to retain dominance, chiefly owing to the increased usage of high risk pile cap (HRPC) and ground mounted foundations. In terms of geography, the market in China dominates, owing largely due to the several already installed as well as planned offshore wind energy plants and the presence of a large number of some of the region’s leading players in the offshore wind energy market.

Make an Enquiry @: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=23876

Vast Benefits of Offshore Wind Power Technology over Onshore Wind Power to Fuel Adoption

Offshore wind energy is witnessing an increased level of adoption chiefly owing to its several benefits as compared to the existing onshore wind energy. Land acquisition, high noise generation in and around onshore wind farms are some of the few major reasons which is affecting the onshore wind energy generation. Feasibility of land is another key concern in present scenario since it depends on environmental conditions. With a number of man-made structures coming up in various parts of the world which acts as obstruction to the otherwise freely flow of wind, onshore wind farms will face a lot of ire in the near future. Most of the onshore wind farm area are near exhaustion.

High Installation Costs Could Hinder Growth Prospects

Since the technology for offshore wind turbine set-up is relatively new, high cost would thus be incurred for its planning and set-up phase. These high costs will directly affect the electricity production with high cost of generation and distribution. Complex grid structures are required for storage and transmission of electricity thus produced. Also, the competency factor for offshore wind energy is high since its existing onshore counterpart is an already proven technology. Other sources like solar, tidal, biomass also find inclusions in commercial energy generation. Thus in this competitive environment, the electricity tariffs generally are levelled on higher scale and are associated with higher costs, which could hamper the overall adoption of the technology in the region to a large extent.

Nevertheless, with significantly more capital being infused to harness the offshore wind technology, deeper sites are being studied. Exploration of offshore sites is being carried out in order to enhance profitability of power generation from wind.

This analysis of the Asia Pacific offshore wind energy market is based on a recent report published by Transparency Market Research, titled “Offshore Wind Energy Market (Foundation Type - Monopile, Jacket, Tripod, and Floating) - Asia Pacific Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”

Asia Pacific Offshore Wind Energy Market: by Foundation Type Segmentation

Monopile
Jacket
Tripod
Floating
Others (which includes key stone twisted jackets)

Asia Pacific Offshore Wind Energy Market: by Country

China
Japan
South Korea
India
Rest of Asia Pacific

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends 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. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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