Selbyville, Delaware, United States, October 7 2020 (Wiredrelease) Global Market Insights, Inc –:The offshore wind energy market will witness substantial growth over the forecast timeframe owing to the growing demand for clean energy and increasing focus on reducing carbon emissions and promoting environmental conservation. Offshore wind energy generation is a clean, renewable form of harvesting energy by taking advantage of the power of the wind that is produced on the high seas, where it moves at a much higher and more consistent speed than it does on land, because of the absence of barriers. In order to take advantage of this resource, very large structures called wind turbines are installed offshore and placed on the seabed, equipped with the modern technical innovations.
There are several benefits of offshore wind energy, including the fact that, unlike sunlight, it can be harvested round the clock. Additionally, in comparison to onshore wind, wind resources are significantly more abundant offshore. The acoustic and visual impact of offshore farms is also exceptionally small, and as they are located offshore, they can span larger areas.
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On account of this, offshore wind farms generally have numerous hundred MW of installed capacity. Further, with the ease of maritime transport, it had been possible for the offshore wind turbines industry to create larger unit sizes and capacities in comparison to onshore wind turbines. There are also no physical limitations like buildings or hills that usually block the wind flow onshore. The above-mentioned factors will foster the growth of offshore wind energy.
The offshore wind energy market is bifurcated in terms of component, depth, and regional landscape.
From a regional frame of reference, the offshore wind energy market is divided into APAC, Europe, North America, and Rest of World. Among these, positive outlook toward the wind energy technologies along with increasing land acquisition cost will fuel the deployment of offshore wind energy projects across the Rest of World segment.
With initiatives for new offshore wind energy projects underway, the offshore wind energy market is likely to witness new growth opportunities over the coming years. Citing an instance, recently on 7th March, Ibama, the environmental regulator of Brazil conducted the first public hearing for discussing the impact of an offshore wind power project. The wind farm, proposed by Italy’s BI Energia, will have a capacity of 576 MW.
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In July 2019, the largest wind farm project began construction Saudi Arabia. The wind farm will further have an installed capacity of nearly 400 MW and would effectively reduce the region’s carbon emissions by up to 880,000 tons each year. The commercial operations of the project are expected to start in the Q1 of 2022.
Table of Contents (ToC) of the report:
Chapter 3 Offshore Wind Energy Market Insights
3.1 Industry segmentation
3.2 Industry ecosystem analysis
3.2.1 Vendor matrix
3.3 Innovation & sustainability
3.3.1 Prysmian Group
3.3.2 Enercon
3.3.3 General Electric
3.3.4 Nordex Acciona
3.3.5 Nexans
3.3.6 Furukawa Electric
3.3.7 Goldwind
3.3.8 NKT
3.3.9 JDR Cable Systems Ltd.
3.4 Regulatory landscape
3.4.1 U.S.
3.4.1.1 Renewable Electricity Production Tax Credit (PTC)
3.4.1.1.1 Renewable Electricity Production Tax Credit (PTC) rebate amount
3.4.1.2 Renewable Portfolio Standard (RPS)
3.4.2 Europe
3.4.2.1 European Union member states 2020 wind energy capacity targets (MW)
3.4.2.2 France multi-annual energy program renewable targets
3.4.3 UK
3.4.4 Germany
3.4.5 China
3.4.5.1 National offshore wind power development layout under the 13th Five-Year Plan by 2020 (in million kilowatts)
3.4.5.2 Feed-In Tariff (FIT) levels for wind energy (USD/kwh)
3.5 Global energy investment scenario (2019)
3.5.1 Major asset finance deals in renewable energy, 2019
3.6 New renewable energy investment, by economy
3.7 Major offshore wind energy project landscape
3.7.1 U.S.
3.7.2 Germany
3.7.3 UK
3.7.4 Italy
3.7.5 Netherlands
3.7.6 France
3.7.7 Denmark
3.7.8 Belgium
3.7.9 Japan
3.7.10 China
3.7.11 South Korea
3.7.12 Taiwan
3.8 Offshore wind technical potential outlook
3.8.1 Brazil
3.8.2 India
3.8.3 Morocco
3.8.4 Philippines
3.8.5 South Africa
3.8.6 Sri Lanka
3.8.7 Turkey
3.8.8 Vietnam
3.8.9 U.S.
3.9 Key customer requirements
3.10 Entry barrier
3.11 Price trend analysis
3.11.1 Installation
3.11.2 Turbine
3.11.3 Regional
3.12 Comparative analysis
3.13 Industry impact forces
3.13.1 Growth drivers
3.13.1.1 Favorable regulatory policies
3.13.1.2 Huge untapped and unexplored energy potential
3.13.1.3 Growing adoption of clean energy sources
3.13.1.4 Increasing demand for electricity
3.13.2 Industry pitfall & challenges
3.13.2.1 High capital cost
3.13.2.2 Availability of auxiliary electricity generation sources
3.14 Growth potential analysis
3.15 Porter’s analysis
3.15.1 Bargaining power of suppliers
3.15.2 Bargaining power of buyers
3.15.3 Threat of new entrants
3.15.4 Threat of substitutes
3.16 Competitive landscape, 2019
3.16.1 Strategy dashboard
3.16.1.1 Prysmian Group
3.16.1.2 Northland Power Inc.
3.16.1.3 Siemens AG
3.16.1.4 MHI Vestas Offshore Wind
3.16.1.5 General Electric
3.16.1.6 Prysmian Group
3.16.1.7 Nexans
3.16.1.8 NKT
3.16.1.9 JDR Cable
3.16.2 Company market share, 2019
3.16.2.1 Europe wind turbine manufacturers, 2019
3.16.2.2 Europe Wind farm developers/owners, 2019
3.16.2.3 Europe Inter-Array & Export Cable, 2019
3.16.2.4 Global market player asset portfolio in the offshore wind industry, 2019
3.16.3 Technology landscape
3.16.3.1 HAWT & VAWT
3.17 PESTEL analysis
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