Offshore Wind Market to Reach $55 Billion by 2022 - Key Players are Siemens, ABB, A2Sea, Nexans, EEW Group & General Electric - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Offshore Wind Market by Component (Turbine, Substructure, and Electrical Infrastructure), Turbine Module, Substructure Type, Location (Shallow Water, Transitional Water, and Deep Water), and Region - Global Forecast to 2022" report to their offering.

The offshore wind market is projected to reach USD 55.11 billion by 2022, at a CAGR of 15.32% from 2017 to 2022. The offshore wind market has been rapidly growing, especially in Europe as it contributed the European Union (EU) to meet its renewable energy targets for 2020.

The global demand for electric power is increasing due to various factors such as urbanization, increased industrialization, and economic development among others. Rising energy demand and energy efficiency mandates drive the demand for the offshore wind market. The offshore wind market is gaining acceptance due to its high capacity factor which makes it an important renewable resource to help in the reduction of CO2 emissions. Moreover, countries like China and the U.S. are also focusing on emission reduction.

With regard to the substructure segment, monopiles are expected to constitute the largest market from 2017 to 2022. This type of substructure is mostly the preferred foundation type in the shallow water location. It is mostly used for its simplicity, both in terms of installation and fabrication. Monopiles have been recently upgraded to be used in greater water depths and, thus, it is expected to maintain its position and cover the largest market during the forecast period.

Companies Mentioned

  • A2 Sea
  • ABB, Ltd.
  • Adwen
  • Doosan Heavy Industries and Construction Co., Ltd
  • Eew Group
  • General Electric Company
  • MHI Vestas Offshore Wind A/S
  • Ming Yang Smart Energy Group Co.
  • Nexans S.A.
  • Senvion SA
  • Siemens AG
  • Sinovel Wind Group Co.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Offshore Wind Market, By Component

7 Offshore Wind Market, By Location

8 Offshore Wind Market, By Region

9 Competitive Landscape

10 Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/fqbldh/offshore_wind

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Wind Power, Turbines

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Wind Power, Turbines