Offshore Wind Turbines Market 2017 Trends, Research, Analysis and Review Forecast 2025
Wind energy has been harnessed by the oldest of civilizations. Today, the wind energy sector has evolved to generate electricity, through wind turbines taking off a major load from conventional sources of energy. Wind turbines use the power of natural wind to generate electricity.
Wind energy has been harnessed by the oldest of civilizations. Today, the wind energy sector has evolved to generate electricity, through wind turbines taking off a major load from conventional sources of energy. Wind turbines use the power of natural wind to generate electricity.
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<strong>Offshore</strong> <strong>Wind</strong> <strong>Turbines</strong> <strong>Market</strong> - Global<br />
Industry <strong>Analysis</strong>, Size, Share, Growth, <strong>Trends</strong>,<br />
<strong>and</strong> <strong>Forecast</strong> <strong>2017</strong> - <strong>2025</strong><br />
Global <strong>Offshore</strong> <strong>Wind</strong> <strong>Turbines</strong> <strong>Market</strong>: Snapshot<br />
<strong>Wind</strong> energy has been harnessed by the oldest of civilizations. Today, the wind<br />
energy sector has evolved to generate electricity, through wind turbines taking off a<br />
major load from conventional sources of energy. <strong>Wind</strong> turbines use the power of<br />
natural wind to generate electricity. The technology is still in its nascent stage. It<br />
must overcome technical, economic <strong>and</strong> political challenges for commercial <strong>and</strong><br />
large-scale deployment. Several developing countries have opened up a plethora of<br />
opportunities for the global offshore wind turbines market as the pressure of<br />
keeping the carbon emissions low is mounting each day. According to the research<br />
report, the global offshore wind turbines market is projected to be worth<br />
US$58,729.7 mn by the end of <strong>2025</strong> from US$29,418.9 mn in 2016. During the<br />
forecast period of <strong>2017</strong> <strong>and</strong> <strong>2025</strong>, analysts estimate that the global market will<br />
surge at a CAGR of 7.7%.<br />
View Report @ http://www.transparencymarketresearch.com/offshorewind-turbines-market.html<br />
Floating <strong>Offshore</strong> <strong>Wind</strong> <strong>Turbines</strong> See Higher Adoption due to Advantages<br />
over Traditional <strong>Turbines</strong><br />
As shallow- <strong>and</strong> deep-water spots being explored harness the potential for power<br />
generation from wind, they are likely to augment the growth of the floating wind<br />
turbines segment over the forecast period. <strong>Offshore</strong> floating turbines are<br />
advantageous over fixed structures in terms of the total cost incurred in installation<br />
<strong>and</strong> production. These wind turbines come with a floating platform to support the<br />
entire turbine structure. On the other h<strong>and</strong>, traditional offshore plants need fixing of<br />
foundations to the seafloor <strong>and</strong> bolting of massive turbines on them, which can<br />
hamper the ecology as well.<br />
Several new, offshore, floating wind turbine projects are in the prototype phase for<br />
testing of their operational feasibility, particularly in India, China, South Korea, the<br />
Pacific Isl<strong>and</strong>s, <strong>and</strong> Japan. A floating platform <strong>and</strong> its turbine are entirely<br />
manufactured onshore. They are then towed out <strong>and</strong> tethered to the seafloor.<br />
Another advantage of the floating platform is that they can be identical in shape,<br />
which reduces the cost of customization.
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Asia Pacific <strong>and</strong> Europe to Remain Nip <strong>and</strong> Tuck in Global <strong>Offshore</strong> <strong>Wind</strong><br />
<strong>Turbines</strong> <strong>Market</strong><br />
From a geographic point of view, Europe <strong>and</strong> Asia Pacific are expected to provide<br />
significant growth potential for the offshore wind turbines market during the<br />
forecast period. Europe dominated the global offshore wind turbines market in 2016,<br />
with vast expansion in offshore wind power generation. <strong>Wind</strong> is one of the leading<br />
sources of the renewable energy mix in the region. <strong>Offshore</strong> wind energy is gaining<br />
market share at a rapid pace in the renewable energy mix because of the<br />
advantages that it possesses over onshore wind energy.<br />
Various countries across the globe have established electricity generation targets<br />
from renewable energy. Developing economies such as India are now focusing on<br />
renewable sources of energy for power generation. India has set targets of<br />
electricity generations by wind energy <strong>and</strong> solar energy. Exploration of offshore sites<br />
is being carried out in order to enhance profitability of power generation from wind.<br />
Unlike onshore sites, offshore sites generally have uninterrupted winds throughout<br />
the year.<br />
Some of the key players operating in the global offshore wind turbines market are<br />
Enercon GmbH, Siemens <strong>Wind</strong> Power, Gamesa Corporacion Technologica S.A.,<br />
Guodian United Power Technology Company Ltd, Nordex S.E., Vestas <strong>Wind</strong> Systems<br />
A/S, Upwind Solutions Inc., Suzlon Group, Xinjiang Goldwind Science & Technologies<br />
Co. Ltd, <strong>and</strong> GE <strong>Wind</strong> Energy.<br />
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