Global Offshore Wind Energy Infrastructure Market Industry Trends, Opportunities, Estimation & Forecast, 2019-2027
The offshore wind infrastructure energy is being globally admired with an increase in the requirement of electricity coupled with increased customer shift towards the renewable energy. Governments are enforcing policies that are having higher energy efficiency, industrialization, and growth rate of urbanization. According to the International Energy Association (IEA), in 2017, overall grid-connected wind capacity is estimated for a 515 GW from which 497GW of onshore wind energy, and 18GW of offshore wind energy. The value of offshore wind energy generation is lesser in comparison to onshore wind energy infrastructure has increased its market pace of offshores offering by its greater speed and power generation capabilities. Due to these reasons, different vendors are entering this market by adopting strategic moves in offshore wind energy infrastructure market and it is estimated of market value of $24.76 billion in 2018. Additionally, the demand of offshore wind energy is estimated to have a considerable annual growth of CAGR of 16.4% during the forecast period.
Global Offshore Wind Energy Infrastructure Market was Valued at US$ AA Mn in 2018 and it is Expected to Grow at a CAGR of 15.1% During the Forecast Period.
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The Turbine Component Segment Is Expected To Witness Highest Growth in the Global Offshore Wind Energy Infrastructure Market across the Globe
The turbine component segment is expected to be more than US$ 22 Bn by 2027. Steady advancements in technology of offshore wind energy infrastructure product size with the latest blade designs, constitute of drive trains, offshore equipment with advanced turbine assembly are the prime factors are increasing the demand of product. The Offshore Wind Energy Infrastructure is estimated for a higher cost associated with the project, in order to attain standard performance of these plants when installed for offshore production operations. Moreover, there are research & development practices being under continuous progress, in addition to the current advancements in contribution of flexibility & efficiency in units that drive the growth of industry.
North America Is Expected To Dominate the Offshore Wind Energy Infrastructure Market during the Forecast Period
The North American market is anticipated for a healthy CAGR from 2019 to 2022. The U.S. started its offshore wind operations in 2016 with the government initiatives that have sanctioned different offshore wind projects of this region that would support in generating clean energy. However, offshore wind is anticipated for saving capital investments resulting in the decrease of greenhouse gases that are leading in pollution of nature. As per the Department of Energy (DOE), the U.S. has greater efficiency in the generation of 7,200 terawatt-hours (TWh) of power per year through the offshore wind.
The Offshore Wind Energy Infrastructure market is constituting numerous small-sized to medium-sized companies that are competing by large enterprises. The key players competing in the market have enhanced their geographical expansion during the forecast period. These organizations are entering into new markets by strategic moves including new ventures, collaborations, mergers & acquisitions are substantially increasing their customer base.
Prominent players operating in the global offshore wind energy infrastructure market are listed as follows: Nordex Acciona, Global Energy Services, Prysmian, Senvion, Furukawa Electric, , Enessere, , MHI-Vestas, Siemens Gamesa, Envision Energy, Wobben, Impsa, Clipper, Goldwind, Suzlon, WEG SA, Bergey, LM, General Cable, Nexans, , Southwire, Enercon, GE, Vestas, Sumitomo, Availon and RTS., LS Cable., Northern Power Systems United Power, Mingyang, Wobben, Impsa, Clipper.
Impact of COVID-19 on Economy, Industry and Company
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