Market Size – USD 36.20 billion in 2019, Market Growth - CAGR of 15.2%, Market Trends – Decreasing Offshore auction prices
VANCOUVER, BC, CANADA, January 5, 2022 /EINPresswire.com/ -- The global Offshore Wind Energy Market will be worth USD 106.10 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing trend of industrialization in developing economies. The rapid urbanization and the increasing demand for electricity in developing countries are expected to drive the offshore wind energy market demand.Offshore Wind Energy Market Research Report published by Emergen Research has been formulated by analysis of key business details and extensive geographical spread of the Offshore Wind Energy industry. The study offers comprehensive coverage of the qualitative and quantitative analysis of the Offshore Wind Energy market along with crucial statistical data about the Offshore Wind Energy market. The research study provides historical data from 2017 to 2018 and offers accurate forecast estimation until 2027. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
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Key Highlights From The Report
In February 2019, Vestas entered into a partnership with a local manufacturing service provider, Marand Precision Engineering, for Wind Turbine Assembly Facility in Geelong. The partnerships will help Vestas to expand its wind turbine assembly in the Victorian renewable energy sector.
The Fixed structure held the largest market share of 57.5% in the year 2019. Cost-effectiveness and ease of operation of the fixed structure have resulted in the segment's increasing demand.
Deep water (>60m Depth) is forecasted to grow with the fastest CAGR of 15.9% over the forecast period. The reductions in installations cost, improved engineering of turbines, and the development of turbines with floating substructures are expected to drive the segment's demand.
Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Vestas, General Electric Company, Adwen, Doosan Heavy Industries and Construction Co., Ltd, Siemens Gamesa Renewable Energy, S.A., Senvion SA, Sinovel Wind Group Co., ABB, Ltd., Nexans S.A., and Nordex SE, among others.
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Emergen Research has segmented the global Offshore Wind Energy Market on the basis of Installation, Location, Component, and region:
Installation Outlook (Revenue, USD Billion; 2017-2027)
Floating structure
Fixed Structure
Location Outlook (Revenue, USD Billion; 2017-2027)
Shallow Water (<30m depth)
Transitional Water (30m-60m Depth)
Deep Water (>60m Depth)
Component Outlook (Revenue, USD Billion; 2017-2027)
Substructure
Turbine
Electrical Infrastructure
Others
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Market Dynamics:
The report offers insightful information about the market dynamics of the Offshore Wind Energy market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Offshore Wind Energy market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Offshore Wind Energy market.
Radical Highlights of the Offshore Wind Energy Market Report:
Comprehensive overview of the Offshore Wind Energy market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Offshore Wind Energy market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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Emergen Research
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