Global Offshore Wind Farm Market Overview:
Offshore wind farm can be described as a strength plant that includes all the services wanted to seize the wind power, seriously change it into electrical energy and provide it to the important electrical energy network. Offshore wind farms are made up of a quantity of wind turbines. The wind farm is located in a region with enormously shallow water that is now not too some distance from the shoreline and the place the suggest wind pace is favorable. A wind turbine consists of three essential components: the tower, a nacelle or the generator house, and the rotor. The rotor consists of three blades related to a central hub on the nacelle. The 4 most oftentimes used offshore wind turbine foundations encompass monopile, gravity base, tripod, and jacket.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Decreasing Offshore Auction Prices, Increasing Water Depths of Projects and Increasing Turbine Capacity
Market Growth Drivers:
Increasing Investments in Renewable Sources of Energy and Favorable Government Policies
Challenges:
Significantly High Support Structure Cost, High Operating and Maintenance (O&M) Costs and High Electrical Infrastructure Costs
Restraints:
Public Concern on the Potential of Turbines to: Endanger Birds and Bats Because Noise Pollution Be Aesthetically Displeasing
Opportunities:
Renewable Energy Demand Will Continue To Increase, Owing To the Falling Technology Costs, Growing Need to Reduce CO2 Emissions and Growing Energy Consumption in Developing and Undeveloped Countries
Competitive Landscape:
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies.
Some of the key players profiled in the report are General Electric (United States), Siemens Gamesa (Spain), Shanghai Electric Wind Power Equipment Co. (China), ABB (Switzerland), Doosan Heavy Industries and Construction (South Korea), Hitachi (Japan), Nordex SE (Germany), Nexans (France), Ming Yang Smart Energy Group Co (China) and Envision (China). Additionally, following companies can also be profiled that are part of our coverage like Rockwell Automation (United States), Hyundai Motor Group (South Korea) and Schneider Electric (France). Analyst at AMA Research see Global Manufacturers to retain maximum share of Global Offshore Wind Farm market by 2028. Considering Market by Foundation, the sub-segment i.e. Monopile will boost the Offshore Wind Farm market. Considering Market by Component, the sub-segment i.e. Turbine will boost the Offshore Wind Farm market. Considering Market by Depth, the sub-segment i.e. Shallow Water will boost the Offshore Wind Farm market.
In 2021, GE Renewable Energy introduced that it has finalized the Turbine Supply and Service and Warranty contracts for the 1/3 and last phases of the Dogger Bank offshore wind farm. and In 2020, MHI Vestas Offshore Wind has been chosen as the favored wind turbine provider for the EolMed floating challenge and gotten smaller to provide three V164-10.0 MW turbine.
What Can be Explored with the Offshore Wind Farm Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Offshore Wind Farm Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Offshore Wind Farm
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Offshore Wind Farm market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Offshore Wind Farm market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Offshore Wind Farm Developer, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.