Offshore Wind Market Latest Innovations, Drivers And Industry Key Events By 2030
Offshore Wind Market Insights:
During the anticipated period (2022-2030), the Offshore
Wind Market is anticipated to expand at a CAGR of
21%, with a market share of USD 114.0 billion.
The
sector is primarily driven by increasing the generation of energy from
renewable sources. During the projected period, the increase in investment in
clean energy development is anticipated to fuel the growth of the worldwide
market. In order to reach a total capacity of 20 gigawatts before the end of
the century, Germany pledged to organise auctions for the development of
offshore wind turbines to add more than 5 gigawatts. 332.1 billion USD were
invested globally in the development of renewable energy, above the previous
five-year average of 300 billion USD. Furthermore, the improved emission
reduction rates brought on by the expansion of the economy represent a
tremendous potential for the worldwide industry. Government policies and
regulatory frameworks support the worldwide market, and they are anticipated to
fuel market expansion throughout the projected period.
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CAGR |
21%
CAGR (2022-2030) |
Base
Year |
2021 |
Forecast
Period |
2022-2030 |
Historical
Data |
2019
& 2020 |
Forecast
Units |
Value
(USD Billion) |
Report
Coverage |
Revenue
Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments
Covered |
Components
and Location |
Geographies
Covered |
North
America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Regional
analysis:
The
offshore wind market has been divided into three regions: North America,
Europe, and Asia Pacific, according to the research. The region of Europe is
anticipated to hold a sizeable portion of the worldwide market, followed by
North America. A number of encouraging actions have been done to assist wind
energy projects since lowering carbon emissions is a vital aspect in the
expansion of the worldwide market. The cost per megawatt-hour for wind farms
has decreased by 50% over the past several years, which has helped the
worldwide industry expand. According to the market projection, North America
will account for the second-largest market share.
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Offshore
wind farms are built on ocean surfaces to capture wind energy and produce
power. Inshore water regions, such as fjords, protected coastal areas, and
lakes, are employed in offshore wind power to capture wind energy and produce
electricity. The primary driver of the expansion of the worldwide market is the
increase in the percentage of renewable energy.
Market
segmentation:
Location,
region, and component are used to segment the market. The projection term is
likely to see a respectable increase in the worldwide offshore wind industry.
Using
Application: The market is divided into the following categories: tower,
turbines, electrical infrastructure, nacelle, and blades.
By
the end-user: The market is divided into three categories based on the forms of
propulsion: shallow water, transitional water, and deep water.
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Key
players:
General Electric from the United States, Siemens Gamesa Renewable Energy, SA from Germany, MHI Vestas Offshore Wind from Denmark, Senvion SA from Luxembourg, Doosan Heavy Industries & Construction from South Korea, Suzlon Energy Limited from India, Dong Energy A/S from Denmark, EEW GROUP from Germany, ENERCON GmbH from Germany, Goldwind Wind Energy GmbH from China, ABB from Switzerland, Engie from France, and rsted A/S from Denmark are some of (Denmark).
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