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Fatpos Global

Offshore Wind Turbines Market Market Size & Share Trends & Forecast to 2030- Industry Analysis by Regions Type and Applications Market Size Share Industry Overview and Forecast 2020-2030

September 8th, 2021 10:50 AM

Global Offshore Wind Turbines Market to surpass USD 81.73 billion by 2030 from USD 26.24 billion in 2020 at a CAGR of 21.7% in the coming years, i.e., 2021-30. Offshore wind energy is the technology that allows wind turbines near the oceans and lakes to generate electricity from the wind. Offshore wind power has various advantages, including renewable energy generation. Power is produced at greater speeds onshore than onshore, which has a good impact on market development

Increasing the emissions of the atmosphere and offering policy incentives and tax rebates for the installation of wind towers contribute to the growth of the Offshore Wind Tower. Also, governments across different countries are also designed to stimulate a beneficial structure for their policies and regulatory system to promote renewable energy generation globally

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• Market size & share analysis
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• Market growth drivers and restraints
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 Key Players

  • General Electric
  • Trinity Structural Towers, Inc.
  • ENERCON GmbH
  • WINDAR Renovables
  • Vestas Wind Systems A/S
  • Shanghai Taisheng Wind Power Equipment Co. Ltd.
  • Suzlon Energy Limited
  • CS Wind Corporation
  • Siemens AG
  • Other Prominent Players

Global Offshore Wind Turbines: Segments

Turbine segment to grow with the highest CAGR during 2020-30

Global Offshore Wind Turbines market is segmented by component into Turbine, Substructure, Electrical Infrastructure, Others. Turbines accounted for the largest portion of the global market’s revenue. In addition, manufacturers of wind turbines are concentrating on developing novel and standardized products with cheap installation costs, resulting in an increase in market demand for wind turbines.

Utility segment to grow with the highest CAGR during 2020-30

Global Offshore Wind Turbines market is divided by application into Utility and Non-Utility. Over the forecast period, the utility segment is projected to expand at the fastest pace. Utility wind turbines are mounted on massive, multi-turbine wind farms connecting to the transmission system of the country. Large-scale wind infrastructure projects require various property, buildings, and other approvals, as well as effective administration of ties with the various stakeholders involved in the process.

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Offshore Wind Turbine Market : Market Dynamics

Drivers

Rising carbon emissions and use of renewable resources

Carbon emissions in the atmosphere are rising and are one of the main anthropological causes of climate change. The key explanation for this carbon pollution is the combustion or decomposition or combustion of fossil fuels such as oil, coal, and gas. A variety of significant proposals are being required to minimize emissions, such as energy conservation at residence or on the job, the use of public transport, and renewable resources such as solar, wind, hydro, tidal, geothermal, and biomass, hence accelerating the growth of Offshore Wind Energy.

Restraint

Limited area of application and high maintenance cost

Wind turbines largely depend upon the wind velocity and therefore cannot be installed at a place where the wind speed is not high enough thus the market growth is limited by the area of application. Moreover, high setup and maintenance cost will further limit the market growth.

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Global Offshore Wind Turbines is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

    Global Offshore Wind Turbines report also contains analysis on:

    Offshore Wind Turbines Segments:

    • By Component
      • Turbine
      • Substructure
      • Electrical Infrastructure
      • Others
    • By Application
      • Utility
      • Non-Utility

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About us

Fatpos Global is a consulting and research firm focused on market research, business services, and sourcing. We are trusted advisors to senior executives of leading enterprises, providers, and investors. Our firm helps clients improve operational and financial performance through a hands-on process that supports them in making well informed decisions that deliver high-impact results and achieve sustained value. Our insight and guidance empowers clients to improve organizational efficiency, effectiveness, agility and responsiveness.

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