Offshore wind power market: 53% of progress will come from Europe, monopile phase will likely be essential for income era

NEW YORK, August 9, 2022 /PRNewswire/ — The offshore wind market the dimensions ought to improve by $20.06 billion from 2019 to 2024. The report predicts that the market will develop at a 18% CAGR. 53% of market progress will come from Europe in the course of the forecast interval. Germany, Belgiumand the UK are the principle offshore wind markets in Europe. The market progress on this area will likely be quicker than the market progress in North America, APAC and South America areas. The rise in investments will facilitate the expansion of the offshore wind energy market by Europe over the forecast interval.

Technavio has announced its latest market research report titled Offshore Wind Energy Market by Type and Geography - Forecast and Analysis 2020-2024

Technavio has introduced its newest market analysis report titled Offshore Wind Power Market by Sort and Geography – Forecast and Evaluation 2020-2024

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Offshore Wind Power Market: Segmentation Evaluation

The market analysis report segments the offshore wind power market into Sort (monopiles, jackets, and others) and Geography (EuropeACPA, North America, South Americaand MEA).

  • Income Producing Phase – Progress in offshore wind market share by monopile phase will likely be essential for income era. Owing to the benefits of monopile constructions, technological developments and fast deployment of monopile constructions throughout the globe owing to the presence of outstanding distributors with requisite technological experience, the worldwide offshore wind energy market is predicted to develop considerably over the forecast interval.

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Offshore Wind Power Market: Main driver

  • The principle driver of progress within the offshore wind market is the rise in world power demand.

  • This progress in electrical energy demand is pushed by rising economies comparable to India and China. The world inhabitants is predicted to extend considerably in the course of the forecast interval. Thus, with the expansion in inhabitants and consequent improve in financial actions, the demand for electrical energy is predicted to extend considerably over the forecast interval. Elements such because the electrification of the warmth and transport sectors, the expansion within the variety of electronically related units and the digitization of recent economies have inspired the electrification of world power techniques. Rising power demand coupled with authorities initiatives to extend the adoption of fresh power applied sciences is predicted to enhance the expansion of the worldwide offshore wind energy market over the forecast interval.

Offshore wind market: main challenges

  • Competitors from different power sources will likely be a serious problem for the offshore wind energy market in the course of the forecast interval.

  • Regardless of the fast progress within the adoption of renewable power sources comparable to offshore wind energy era, the usage of fossil fuels comparable to oil, coal and pure fuel nonetheless symbolize a major share of the worldwide power combine. . Many international locations want to make use of fossil fuels over renewable power sources because of the abundance of fossil fuels. The price of establishing a renewable power farm to generate electrical energy is significantly excessive and the era of electrical energy from renewable power sources just isn’t corresponding to that of fossil fuels. Subsequently, the choice for non-renewable power sources is excessive available in the market. Energy era utilizing coal (standard and clear coal applied sciences) and pure fuel accounts for a big share of the worldwide power combine, which is predicted to hamper the expansion of the worldwide offshore wind energy market.

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The aggressive state of affairs predicted within the Offshore wind market report analyzes, evaluates and positions corporations primarily based on varied efficiency indicators. Among the elements considered for this evaluation embody the monetary efficiency of corporations over the previous few years, progress methods, product improvements, new product launches, investments, market share progress, and so on. your small business objectives with our Offshore Wind Energy Market Forecast Report – Buy now!

Associated experiences:

  • The marine battery market the share ought to improve to succeed in $604.14 million from 2021 to 2026, and the expansion momentum of the market will speed up at a CAGR of 18.19%.

  • The lUS lead acid battery market the share ought to improve to succeed in $939.46 million from 2021 to 2026, and the expansion momentum of the market will speed up at a CAGR of two.82%.

Scope of the offshore wind power market

Report cowl

Particulars

Web page quantity

120

12 months of reference

2019

Forecast interval

2020-2024

Progress momentum and CAGR

Speed up at a CAGR of 18%

Market Progress 2020-2024

$20.06 billion

Market construction

Fragmented

Annual progress (%)

13.76

Regional evaluation

Europe, APAC, North America, South America and MEA

Profitable market contribution

Europe at 53%

Principal shopper international locations

United Kingdom, Germany, Belgium, United States and Japan

Aggressive panorama

Main corporations, aggressive methods, scope of shopper engagement

Profiled corporations

Doosan Heavy Industries & Building Co. Ltd., Erndtebr├╝cker Eisenwerk GmbH & Co. KG, Normal Electrical Co., Hyundai Heavy Industries Co. Ltd., MHI Vestas Offshore Wind AS, Nexans SA, Nordex SE, Senvion SA, Siemens Gamesa Renewable Power SA and Sinovel Wind Group Co. Ltd.

Market dynamics

Mum or dad market evaluation, market progress drivers and limitations, evaluation of quick rising and gradual rising segments, affect of COVID 19 and future shopper dynamics, and evaluation of market situations for the forecast interval.

Personalization space

If our report doesn’t embody the info you’re in search of, you may contact our analysts and customise the segments.

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Contents

Abstract

Market panorama

  • Market ecosystem

  • Market traits

  • Worth chain evaluation

Market sizing

5 forces evaluation

Market segmentation by kind

  • Market segments

  • Comparability by kind

  • Monopile – Market measurement and forecast 2019-2024

  • Jacket – Market measurement and forecast 2019-2024

  • Others – Market measurement and forecast 2019-2024

  • Market Alternative by Sort

Buyer panorama

Geographic panorama

  • Geographic segmentation

  • Geographic comparability

  • Europe – Market measurement and forecast 2019-2024

  • APAC – Market measurement and forecast 2019-2024

  • North America – Market measurement and forecast 2019-2024

  • South America – Market measurement and forecast 2019-2024

  • MEA – Market measurement and forecast 2019-2024

  • Principal main international locations

  • Market Alternative by Geography

  • Market elements

  • Market challenges

  • Market traits

Provider Panorama

  • Provider Panorama

  • Panorama disturbance

  • Aggressive state of affairs

Vendor evaluation

  • Suppliers Coated

  • Positioning on the provider market

  • Doosan Heavy Industries & Building Co.Ltd.

  • Erndtebr├╝cker Eisenwerk GmbH & Co. KG

  • Normal Electrical energy Firm.

  • Hyundai Heavy Industries Co. Ltd.

  • MHI Vestas Offshore Wind AS

  • Nexans S.A.

  • Nordex SE

  • Senvion SA

  • Siemens Gamesa Renewable Power SA

  • Sinovel Wind Group Co.Ltd.

Annex

About Technavio

Technavio is a worldwide chief in know-how analysis and consulting. Their analysis and evaluation focuses on rising market traits and gives actionable insights to assist corporations establish market alternatives and develop efficient methods to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 experiences and counts, spanning 800 applied sciences, spanning 50 international locations. Their buyer base consists of enterprises of all sizes, together with greater than 100 Fortune 500 corporations. This rising buyer base depends on Technavio’s complete protection, in-depth analysis, and actionable market intelligence to establish alternatives in current markets and potentials and assess their aggressive positions in altering market eventualities.

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Technavio (PRNewsfoto/Technavio)

Technavio (PRNewsfoto/Technavio)

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