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Offshore Wind Power Market Opportunity Analysis And Industry Forecast By 2025

Offshore wind power is a kind of wind farm, which is constructed off the shore and in the continental shelf. These offshore wind farms are used to generate electricity from wind energy. Three types of offshore wind turbines are available, shallow water, transitional water, and deep water. The major difference between these three types of wind turbines is the depth of water they are kept in. The shallow wind turbine is kept at a depth of less than 30 meters, the transitional wind turbines are kept at a depth of 3060 meters, and the deep water turbines are kept at a depth of 60 meter and more.

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The efficiency of offshore wind farms in generating electricity is high as compared to onshore wind farms, which has led to the increase in the number of offshore wind power projects in major parts of the world such as in the northern Europe offshore wind farms. However, high cost of offshore wind power production as compared to onshore wind power production and large investment required in the early stage of the projects restrain the market growth. Continuous development and innovation in the efficiency of the wind turbines and wind farms are expected to provide growth opportunities for the market.

The offshore wind power market is segmented on the basis of type, capacity, and geography. Based on type, the market is divided into shallow water, transitional water, and deep water. By capacity, it is categorized into up to 1 MW, 13 MW, 35 MW, and 5 MW and above. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major player analyzed in this report are General Electric International, Inc, UpWind Solutions, Inc., Senvion S.A., Sinovel Wind Group Co., Ltd, ENERCON GmbH, Siemens Wind Power GmbH & Co.KG, Nordex SE, Suzlon Energy Limited, Vestas Wind Systems A/S, and SIEMENS GAMESA RENEWABLE ENERGY, S.A.

Key Benefits

  • The study provides an in-depth analysis of the offshore wind power market, with current trends and future estimations to elucidate the investment pockets.
  • Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
  • The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.
  • Extensive analysis of different segments facilitates to understand various products of the market.
  • Key players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.

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