Global Offshore Wind Power Market 2015-2019
About Offshore Wind Power
Offshore wind power is the generation of electricity from wind by constructing wind farms in water bodies. It is estimated to be one of the cheapest and cleanest forms of electricity generation. Offshore wind turbines are larger in size and have greater wind speed compared with onshore wind turbines. Offshore wind power offers various advantages compared with onshore wind power.
TechNavio's analysts forecast the Global Offshore Wind Power market to grow at a CAGR of 17.5 percent (by Revenue) over the period 2014-2019.
Covered in this Report
TechNavio's report, the Global Offshore Wind Power Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Offshore Wind Power forecast and its growth prospects in the coming years. The report also includes the segmentation on the basis of Foundation Type and Geography. The report also includes a discussion of the key vendors operating in this market. Key Regions
TechNavio Announces the Publication of its Research Report – Global Offshore Wind Power Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global Offshore Wind Power Market: GE Energy, Senvion SE, Siemens, Sinovel Wind Group and Vestas A/S.
Other Prominent Vendors in the market are: Alstom, Areva, Clipper Windpower, Doosan Heavy Industries & Construction, Gamesa Technology, GE Energy, Goldwind Science & Technology, Hyosung Power and Industrial Systems Performance Group, Hyundai Heavy Industries, Mitsubishi Heavy Industries, Nordex, Samsung Heavy Industries, Sinovel Wind Group, STX Windpower and XEMC‐Darwind.
Commenting on the report, an analyst from TechNavio’s team said: “The increased fiscal benefit provided by the installation of offshore wind power is a major trend in the market. One of the major fiscal benefits that offshore wind power investors and turbine manufacturers can avail is the FiT, which is a policy designed by several governments to encourage investment in technology related to renewable energy generation.”
According to the report, increased environmental concerns are one of the key drivers of this market. The relatively environmentally friendly nature of offshore wind power will positively impact the growth of this market. Offshore wind power generation leaves a remarkably small carbon footprint. Carbon emissions associated with offshore wind power operations are zero. Emissions are emitted in the manufacturing processes related to various offshore wind power components.
Further, the report states that one of the challenges confronting the market is the need for huge investments in offshore wind power. The cost of financing an offshore wind farm is high when compared to other renewable power sources.
GE Energy, Senvion SE, Siemens , Sinovel Wind Group, Vestas, Alstom , Areva SA, Clipper Windpower , Doosan Heavy Industries & Construction , Gamesa Technology , Goldwind Science & Technology , Hyosung Power and Industrial Systems Performance Group, Hyundai HeavyIndustries , Mitsubishi Heavy Industries , Nordex SE, Samsung Heavy Industries , Sinovel Wind Group , STX Windpower , XEMC‐Darwind