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Offshore Wind Power Market Data Current and Future Trends, Industry Size, Share, Revenue, Business Growth Forecast to 2026

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The MarketWatch News Department was not involved in the creation of this content.

Jan 18, 2021 (The Expresswire) —
The overall offshore wind power market installed capacity is expected to grow from 23 GW in 2018 to 94 GW by 2026 at a CAGR of 19.2% during the forecast period. Renewable energy is gaining traction across the world, which is expected to encourage growth in the global offshore wind power market. This information was shared by Fortune Business Insights in a report, titled “Offshore Wind Power Market Size, Share and Global Trend by Installation (Fixed Structure, Floating Structure) Capacity (Up to 1 MW, 1 MW to 5 MW, above 5 MW) Application (Shallow Water, Deepwater) and Geography Forecast till 2025.” Germany, Denmark, China, and the U.S. are some of the leading nations in the renewable energy sector. These countries are expected to witness rising investments in offshore wind power projects.

To Gain More Insights into the Offshore Wind Power Market Analysis, Browse Summary of the Research Report –https://www.fortunebusinessinsights.com/industry-reports/offshore-wind-power-market-100148

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

The report on the offshore wind power market contains:

  • Future insights into the market

  • In-depth study of the regions

  • Product and brand strategies

  • Factors enabling market growth

  • Competitive landscape

  • COVID-19 impact

“Senvion S.A. Partnered with Renexia to Expand its Product Portfolio”

In March 2019, Royal Dutch Shell signed an agreement with Eneco and Van Oord to start two offshore wind farm projects with a capacity of 750 MW. Companies are planning to adopt different strategies to strengthen their market share and stay ahead of the competition. For instance, Senvion S.A. joined hands with Renexia in March 2019. The objective was to install an offshore wind farm in the Italian Mediterranean Sea.

List of the leading players operating in the global offshore wind power market:

  • MHI Vestas Offshore Wind

  • Siemens Gamesa Renewable Energy S.A.

  • Adwen

  • Suzlon Energy Limited

  • ABB Ltd.

  • Hitachi Ltd.

  • Senvion S.A.

  • Ming Yang Smart Energy Group Co.

  • General Electric

  • Nordex SE

  • Envision Energy

  • Goldwind

“Demand for 1MW to 5MW Capacity is Expected to Rise”

Offshore wind power is used in different capacities. Among these, 1MW to 5MW capacity is expected to cover a major share in the global market. This is followed by up to 1MW capacity segment. The demand for offshore wind turbines is likely to increase in deep water and shallow water. Shallow water is expected to account for a major share in the global market. Installing wind tower especially in lower depth water is easy and helps to reduce capital expenditure.

Request a Sample Copy for more detailed Offshore Wind Power Market Overview –https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/offshore-wind-power-market-100148

“Increasing Investments in Offshore Wind Projects to Promote Growth in Europe”

Europe is expected to lead the global offshore wind power market with an increasing number of investments in offshore wind projects. Furthermore, the region is likely to hold a major share in the global market owing to favorable government initiatives. Other factors likely to drive the market are energy security initiatives and decarbonization reforms in Europe. The market in the Asia Pacific is anticipated to grow at a considerable rate owing to the overall economic growth. In addition to this, massive wind power potential in countries such as Indonesia, China, and Australia are expected to register growth opportunities by 2025.

Other regions such as Latin America, North America, and the Middle East and Africa are likely to remain strong in the forecast years.

The report answers the following questions:

  • What are the recent offshore wind power market trends and developments?

  • How will the market be affected by changing consumer behavior?

  • Which strategies are being adopted by key players to enhance their market footprint?

  • Which region will remain in the dominant position in terms of revenue?

  • How many niche segments are present in the market?

“Need to Reduce Carbon Emissions Bodes Well for the Market”

“The growth of the market is attributable to rising demand for clean energy across the globe,” said a lead analyst at Fortune Business Insights. “This will further lead to a reduction of carbon emissions and rising demand for generating electricity, which is expected to drive the market,” he added. Governments across the world are planning to take possible initiatives in order to fulfill the rising demand for electricity. This, coupled with a lower installation cost of wind power, is expected to boost the offshore wind power market. This, in turn, is anticipated to augment demand for offshore wind turbines in the coming years.

The demand for sustainable offshore energy can encourage companies to establish offshore wind power plants. The introduction of offshore wind turbines helps to generate electricity, which as a result is expected to evolve the offshore wind power market. The advancements in offshore wind technologies are also anticipated to be a potential growth enabler in the market. These advancements include advanced rotors and onboard sensors in offshore wind turbines.

“Mounting Costs Associated with Establishing Power Plants to Restrict Growth”

The huge capital cost involved in operating a power plant may inhibit the growth of the offshore wind power market. The onshore wind power installation involves less cost than offshore installation. The presence of alternatives is encouraging companies to focus on other forms of green energy such as biogas, solar, CHP, and others.

Speak to our Analyst for any Queries about Offshore Wind Power Market Research Report –https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/offshore-wind-power-market-100148

Major Table of Contents:

  1. Introduction

    • Research Scope

    • Market Segmentation

    • Research Methodology

    • Definitions and Assumptions

  2. Executive Summary

  3. Market Dynamics

    • Market Drivers

    • Market Restraints

    • Market Opportunities

  4. Key Insights

    • Key Emerging Trends For Major Countries

    • Latest Technological Advancement

    • Regulatory Landscape

    • Porters Five Forces Analysis

    • Cost Comparison Analysis By Different Component of Wind Turbine

  5. Global Offshore Wind Power Market Analysis (MW), Insights and Forecast, 2015-2026

    • Key Findings

    • Market Analysis, Insights and Forecast By Installations

      • Fixed Structure

      • Floating Structure

    • Market Analysis, Insights and Forecast By Capacity

      • Up to 3MW

      • MW to5 MW

      • Above 5MW

    • Market Analysis, Insights and Forecast By Water Depth
    • Market Analysis, Insights and Forecast By Region

      • S.

      • K.

      • Germany

      • France

      • Spain

      • Sweden

      • Denmark

      • Netherlands

      • Ireland

      • Belgium

      • China

      • Japan

      • South Korea

      • Vietnam

      • Rest of the World

  1. S. Offshore Wind Power Market Analysis (MW), Insights and Forecast, 2015-2026

    • Key Findings

    • Market Analysis, Insights and Forecast By Installations

TOC Continued…….!

Purchase Full Report for Exclusive Offshore Wind Power Market Growth Forecast –https://www.fortunebusinessinsights.com/checkout-page/100148

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About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact:

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Email:[email protected]
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Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Offshore Wind Power Market Data Current and Future Trends, Industry Size, Share, Revenue, Business Growth Forecast to 2026

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