Off-Shore Wind Turbine Market Trend Analysis and Future Growth Prospects to 2025

Market Summary The offshore wind turbine market is projected to witness significant growth, increasing from USD 29,418.9 million in 2017 to USD 58,729.7 million in 2025, with a compound annual growth rate (CAGR) of 7.7%.

The market's development is driven by several factors, including rising oil prices, a shift towards renewable energy sources, and particularly the offshore wind energy sector, which benefits from existing infrastructure supported by offshore oil and gas plants. As a result, major players in the oil and gas industry recognize the immense potential in transitioning to offshore wind energy, leveraging their existing infrastructure and skill set to boost the turbine market.

Building sustainable infrastructure for offshore power generation, especially on the ocean floor, is crucial. Given the experience of the oil and gas industry in this area, more oil giants are investing in offshore wind production. Companies like Shell and Stat oil are diversifying their reach by entering this new market. Additionally, companies providing services for offshore fossil fuel platforms are witnessing the emergence of a new market.

Get a sample copy of the offshore wind turbine market report: https://www.reportsanddata.com/download-free-sample/1031

Key Report Coverage:

  • Consumption statistics of offshore wind turbines by region and country from 2015 to 2025, with historic data from 2015 to 2017 and forecasts from 2018 to 2025
  • Estimation of installations, production capacity, shipment data, and analysis of consumption trends
  • Analysis of interest rates and government subsidies for wind-generated distributed energy
  • Demand and supply gap analysis
  • Consumption of wind-generated electricity by region
  • Outlook on regional residential, commercial, and industrial sectors
  • Government spending on infrastructure and renewable energy development
  • Inter-nation trade analysis
  • Wind energy scope, commission rate, and future demand forecasting for Asia Pacific and Europe
  • Cost analysis of wind energy generation, distribution, transmission, and energy exchange forecast
  • Economics of scale for offshore wind turbine production
  • Offshore oil rig counts
  • Product complexity analysis and ratings
  • Salient trends in the offshore wind market

Notable Trends:

  • Offshore wind energy generation investment is currently highest in North Europe, with China also making progress in the intertidal coastal zone
  • The Asian market is expected to experience significant growth, with China's capacity reaching competitive levels by 2030 in terms of installations and output capacity
  • Statoil plans to build the world's first floating wind farm near Scotland and construct an offshore wind lease near New York with the potential to generate over 1 GW of power
  • The United States is currently lagging behind in global market share, but the entry of oil and gas companies and supply chain companies will lead to increased wind power generation, cost reduction, and job creation
  • Onshore wind energy is closer to reaching maturity in terms of commercial use compared to offshore wind energy, despite higher costs. However, there is potential for cost reduction in turbines, long-term maintenance, and operational expenses.
  • Offshore wind power generation installation costs are nearly double those of onshore, which poses limitations to its growth
  • The preferred size for offshore commercial scale power generation turbines is 5 MW, with companies like Vestas and Siemens developing 6 MW and 7 MW turbines
  • Out of the top 15 offshore wind turbine manufacturers, eight are based in China, with Chinese manufacturer Goldwind becoming the world's largest supplier, surpassing Vestas
  • GE and Siemens are producing direct drive generator offshore wind turbines, which incorporate advanced technology and have lower maintenance costs, positioning them as the future of offshore wind turbine technology
  • Floating turbines have gained popularity due to lower installation and production costs
  • Direct drive generators are an accelerating product trend in the market, eliminating the need for gearboxes and reducing the number of moving components compared to geared drive trains

Explore Trending Reports:

epoxy-primer-market: https://www.reportsanddata.com/report-detail/epoxy-primer-market

hydrofluoric-acid-market: https://www.reportsanddata.com/report-detail/hydrofluoric-acid-market

water-based-adhesive-market: https://www.reportsanddata.com/report-detail/water-based-adhesive-market

roof-coatings-market: https://www.reportsanddata.com/report-detail/roof-coatings-market

polyurethane-pu-films-market: https://www.reportsanddata.com/report-detail/polyurethane-pu-films-market

energy-efficient-glass-market: https://www.reportsanddata.com/report-detail/energy-efficient-glass-market

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/1031

Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.

About Reports and Data    

Reports and Data 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 analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data 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.

Contact:

John W, Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs

Comments

Post a Comment

Popular posts from this blog

Benzyl Alcohol Market Size Worth USD 397.6 Billion 2032| CAGR of 5.8%

According to a recent report by Reports and Data, the global benzyl alcohol market is expected to reach a size of USD 397.6 Billion by 2032 with a revenue CAGR of 5.8% during the forecast period. The increasing demand for benzyl alcohol for skin medication and its adoption in paints and coatings are some of the key drivers of market revenue growth. Benzyl alcohol is used in a wide range of applications, including inks and polishes, as it eliminates unpleasant odors and provides a mild scent. It is also used to improve the texture and consistency of products, which has increased its demand. Furthermore, benzyl alcohol is a degreasing agent and a bonding agent, which is driving the growth of the market. The adoption of benzyl alcohol in paints and coatings is also expected to contribute to revenue growth. Benzyl Alcohol Market: Notable Innovation There have been no recent notable innovations specifically in the benzyl alcohol market. However, some companies are focusing on developin
Read more

Wax Market Size Worth USD 10.75 Billion 2032| A CAGR of 5%

Market Overview: The global wax market had a value of USD 10.75 Billion in 2022 and is projected to reach USD 16.68 Billion by 2032, with a forecasted revenue Compound Annual Growth Rate (CAGR) of 5% during the forecast period. One of the significant contributors to the growth of the wax market is the packaging industry. Wax is employed as a coating on packaging materials to enhance their quality and durability. Increased demand for packaged food and beverages, consumer goods, and pharmaceuticals has led to higher utilization of wax in packaging, driving market revenue growth. The candle sector is another crucial factor boosting revenue growth in the wax market. Various types of wax, such as paraffin, beeswax, and soy wax, are used in candle production. The demand for wax in the candle industry has risen due to increased interest in decorative and scented candles for occasions like festivals, weddings, and birthdays. Moreover, the market has seen an uptick in the demand for natura
Read more

Pressure Sensitive Adhesives Market Size to Surpass USD 72.58 billion by 2032

Market Overview: The global pressure-sensitive adhesives market reached a size of USD 13.20 Billion in 2022, and it is projected to experience a revenue compound annual growth rate (CAGR) of 5.1% throughout the forecast period. The rising popularity of pressure-sensitive adhesives is attributed to their simplicity of application and cost-effectiveness compared to conventional attachment systems, driving the market revenue growth. Pressure-sensitive adhesives, also known as self-adhesive or self-stick adhesives, are a significant category of adhesive tapes. They are thin and flexible substances with single or double-sided coatings that adhere firmly to most clean, dry surfaces without requiring heat, solvent, or water. This ease of application is a key factor contributing to the market's growth. Get a sample copy of the Pressure Sensitive Adhesives Market report, visit: https://www.reportsanddata.com/download-free-sample/1629 Market Dynamics: Drivers: Emergence of pres
Read more