Offshore Wind Energy Farms Market Expected To Witness Significant Growth In Europe And Asia Pacific Regions – Credence Research
According to a new market research report published by Credence Research “Offshore Wind Energy Farms Market (By Component– Turbines, Support Structure, Electrical Infrastructure and Assembly, Transportation and Installation) – Growth, Future Prospects, Competitive Analysis and Forecast 2017 – 2025”, the global offshore wind energy farms market is expected to significant growth on account of penetration in Asian countries including China, Japan, South Korea and India, among others.
The complete report is available at http://www.credenceresearch.com/report/offshore-wind-energy-farms-market
Market Insights
Global offshore wind energy farms market is expected to witness strong growth on account of ongoing investments towards offshore wind energy in the European region. Europe houses almost 90% of the overall offshore wind energy generation capacity in the world. Leading adopters of offshore wind energy in the region include UK, Germany, Denmark, Belgium, Netherlands and Sweden, among others. These markets are expected to experience continued demand for various wind energy components such as turbines, support structures and transmission cabling. Moreover, the region offers immense growth opportunities for various services associated with offshore wind energy such as consulting and project development. Some of the other key growth markets in the overall offshore wind energy farm market include China, Japan, South Korea and India, among others. With increasing penetration of offshore energy in various economies, the overall offshore wind energy farms market is poised to grow at a significant rate during the forecast period from 2017 to 2025.
Competitive Insights:
The global offshore wind energy farms market is fairly consolidated with few of the leading providers of various components such as turbines, transmission cabling and other consulting and management service providers. Some of the leading providers involved in the offshore wind energy industry included Siemens Wind Power GmbH & Co.KG, DONG Energy A/S, Vestas Wind Systems A/S, GE Renewable Energy, ADWEN Offshore, S.L., Senvion S.A., Samsung Heavy Industries Co. Ltd., Suzlon Energy Limited, Nordex SE and Sinovel Wind Group Co., Ltd. With growing demand and increasing market penetration, the competition in the overall offshore wind energy market is expected to remain moderate providing ample growth opportunities for majority of the providers.
Key Trends:
- Europe holds the largest share in the overall offshore wind energy farms market with Asia Pacific to register the highest growth during the forecast period
- Around 3,000 MW of capacity installed in 2015 itself
- Average capacity of wind turbines installed during 2016 was about 5 MW
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