The global offshore wind energy market is anticipated to grow at a CAGR of around 14.6% during the forecast period. A variety of factors such as growing awareness towards green energy, diversified wind energy application, and so on are significantly contributing to the growth of the offshore wind energy market. The market is growing rapidly as offshore winds are much steadier than on land implicating a more reliable source of energy. Offshore wind farms are providing renewable energy without consumption of water and not emitting environmental pollutants or any harmful gases. The future growth of an offshore wind energy market is predicted to increase due to the rising technological advancement and innovation of offshore wind farms and government incentives across the globe. However, some factors are limiting the growth of the market such as technological and economic challenges, lack of energy storage and transportation facility and unpredictable water calamity such as storms. Moreover, the government supportive initiatives and investment related to wind energy generation further projected to create a significant opportunity in the market.
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The global offshore wind energy market is segmented based on the turbine of the foundation, depth of turbine and application. Based on the component market is segmented into the turbine, electrical structure, support structure, and others. On the basis of the depth of the turbine, the market is segmented into shallow, transitional, and deep water. Further on the basis of application, the market is segmented into the commercial, industrial, household.
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The global offshore wind energy market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. Europe projected to dominate the global offshore wind energy market. Contracts for difference were implemented by the UK government to ensure reliable long-term returns from electrical infrastructure ventures, lowering barriers to entry for industry participants. Moreover, government initiatives
Global Offshore Wind Energy Market – Segmentation
by Component
Turbine
Electrical Structure
Support Structure
Others
by Depth of Turbine
Shallow
Transitional
Deep Water
by Application
Commercial
Industrial
Household
Global Offshore Wind Energy Market – Segmentation by Region
North America
United States
Canada
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Company Profiles
ABB Ltd.
Asociacion Empresarial Eolica
Damen Shipyards?Group
Orsted Wind Power North America LLC
Doosan Heavy Industries & Construction
EDF Renewables, Inc.
Envision Energy USA Ltd.
General Electric Co.
Goldwind Science & Technology Co., Ltd.
Hitachi, Ltd.
London Aaray Ltd.
Mingyang Smart Energy Group Co., Ltd.
Nordex SE
Sinovel Wind Group Co. Ltd.
Siemens AG
Navingo B.V.
Vestas Wind System A/S,
XEMC Darwind BV
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