March 28, 2020

Offshore Wind Energy Market | Major Players are Clipper Wind power, MHI Vestas Wind Systems A/S, DONG Energy, VattenFall, E.on, GE Wind, Sinovel Wind Group Co. Ltd

According to a new market report published by Credence Research “Global Offshore Wind Energy Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the offshore wind energy market volume is expected to reach to 49,931.6 MW by 2025

Market Insights

Offshore wind energy (offshore wind power) is the conversion of wind’s kinetic energy into electrical energy. Uniform and high speeds of wind can be harnessed in offshore environment since it accounts to nil obstruction to wind force. Multiple windmills together constitute to a wind farm. These farms are constructed in the water bodies usually oceans to harvest the energy of wind and convert it into electrical energy.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/offshore-wind-energy-market

The offshore wind installations reduces the impact on real estate as in onshore installations. Moreover, wind speed is uniform and consistent in offshore installations, which increases the efficiency of electricity generation. Thus, the offshore wind energy is highly attractive and more promising in terms of power generation and grid connections.

Some of the restraining factors of offshore wind installations are wind turbines are exposed to high humidity and salt contents, which affects service life of components due to corrosion, oxidation and increased repair and maintenance costs. In general, the offshore installation costs are much higher than onshore.  The repair maintenance and overhauling operations are also high cost and time consuming as it requires expensive marine operations involvement and are comparatively dangerous. The offshore wind farms operate at high speeds compared to onshore wind farms, hence offshore turbines are more susceptible to high rate of wear and tear, maintenance and repair of moving parts.

In the early 2017, Denmark has come up with new recycling process of offshore wind turbine blades, made up of fiberglass. When the wind turbine is de-commissioned, the blades may fall off to the landfill area where it may take many years to decompose. The blades can now be recycled and applied as sound barriers of vehicular traffic along major roads.

The key players, developers, suppliers and service providers are Siemens-Gamesa, MHI Vestas Wind Systems A/S, DONG Energy, VattenFall, E.on, GE Wind, Sinovel Wind Group Co. Ltd., Nordex S.E, China Ming Yang Wind Power Group Ltd, Alstom, Senvion Ltd., Clipper Wind power, and DOOSAN Heavy Industry & Construction.

Key Trends:

  • Rising investor confidence in the offshore wind energy market. More financial institutions and Governmental agencies actively investing in the market for development of offshore wind farms.
  • Deployment of 8MW and above wind turbine in European and Chinese farms and its introduction in the respective countries for proposed offshore wind power projects

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58915

Market Segmentation

By Foundation Types

  • Monopile
  • Jacket
  • Tripod
  • Floating

By Water Depth

  • Shallow Water (Up to 29m deep)
  • Transitional Water (30-60m deep)
  • Deep Water (Above 60m deep)

By Geography

 • North America (U.S., Canada)

 • Europe (U.K., Germany, France, Spain, Italy, Rest of Europe)

 • Asia Pacific (Japan, China, India, Rest of Asia Pacific)

 • Rest of the World (Latin America, Middle East & Africa)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/58915

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