Offshore Wind Market is Expected to Grow at a CAGR of 16% from 2016 to 2023

Market Scenario
The Global Offshore Wind Market is expected to grow at a CAGR of 16% during the forecast period.

Offshore wind holds great potential in non-conventional electricity generation. The higher efficiency of the offshore wind farm is due to the steady offshore wind inputs as compared to land winds is resulting in the growth of offshore wind market. The main objective of offshore wind farm is to convert wind energy to electricity and propagate it as per requirement to the end user. These offshore wind farms are widely installed along continental shelves across oceans and seas.

Offshore wind market is classified based on their component as turbine, substructure, electrical infrastructure and others. The turbine component is expected to lead the offshore wind market. This is because it is comprised of the most vital components such as nacelle, rotor and blades, and tower, which support it to generate electricity. Also, the turbine accounts for the maximum share of capital investment needed to build an offshore farm.

Key Players
• Siemens AG (Germany),
• Vestas Wind Systems A/S (Denmark),
• General Electric Company (U.S),
• Senvion SA (Germany),
• Areva (France),
• Clipper Windpower, LLC (U.S),
• ABB Ltd. (Switzerland),
• Sinovel Wind (Group) Co., Ltd. (China),
• Doosan Heavy Industries & Construction (South Korea),
• Suzlon (India),
• A2SEA (Denmark)
• EEW-Group (Germany).

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Shallow water offshore wind market is expected to grow at the highest rate.
The shallow water offshore wind market is expected to hold a larger market size as compared to the other two prominent location segments of offshore wind market by. This is due to the proximity of the wind farm from the ground level to reach the site for daily maintenance and inspection. Also, the low capital cost of shallow water wind farm, as it costs less for infrastructure, low logistic charges and manpower charges is expected to grow the shallow water offshore wind market. All these factors will add to the growth of shallow water offshore wind market.

Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Offshore Wind Market Research Report- Forecast 2023”

Scope of the Report
This study provides an overview of the global offshore wind market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Offshore Wind market by its component type, by location and by region.
By Component Type
• Turbine
• Substructure
• Electrical Infrastructure
• Others
By Location
• Shallow Water (< 30m Depth)
• Transitional Water (30m – 60m Depth)
• Deep Water (> 60m Depth)
America By Regions
• North
• Asia Pacific
• Europe
• Rest of the World

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Table of Content

1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Offshore Wind Market, By Component
4.1 Introduction
4.2 Turbine
4.3 Substructure
4.4 Electrical Infrastructure
4.5 Others
5 Global Offshore Wind Market, By Location
Continue………….

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