DUBLIN--(BUSINESS WIRE)--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 has been added to ResearchAndMarkets.com's offering.
The global offshore wind market is projected to grow at a CAGR of 15.32% from 2017 to 2022, to reach a market size of USD 55.11 Billion by 2022. This growth is attributed to the increasing demand for clean energy in order to cut down carbon emissions and protect the environment by generating electricity through renewable resources. Offshore wind energy form an integral part of these clean energy resources and also has a higher capacity factor compared to onshore wind.
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.
- A2 Sea
- ABB, Ltd.
- 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:
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 https://www.researchandmarkets.com/research/8s9nkf/global_offshore?w=4