Offshore Wind Energy Market 2017 To 2025: Share, Growth, Trends and Forecast By Credence Research
offshore wind energy market is projected to witness robust growth owing to increasing investment in offshore wind energy projects. Rising energy demand and growing concerns over the emission of greenhouse gases is influencing the governments to promote the adoption renewable energy source such as wind and solar. Increasing investment in the offshore wind projects especially in Europe is anticipated to fuel the growth of offshore wind energy market.
offshore wind energy market is projected to witness robust growth owing to increasing investment in offshore wind energy projects. Rising energy demand and growing concerns over the emission of greenhouse gases is influencing the governments to promote the adoption renewable energy source such as wind and solar. Increasing investment in the offshore wind projects especially in Europe is anticipated to fuel the growth of offshore wind energy market.
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<strong>Offshore</strong> <strong>Wind</strong> <strong>Energy</strong> <strong>Market</strong> <strong>2017</strong> <strong>To</strong> <strong>2025</strong>: <strong>Share</strong>, <strong>Growth</strong>, <strong>Trends</strong> <strong>and</strong> <strong>Forecast</strong> <strong>By</strong><br />
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The latest market report published by <strong>Credence</strong> <strong>Research</strong>, Inc. “Europe <strong>Offshore</strong> <strong>Wind</strong> <strong>Energy</strong> <strong>Market</strong>, <strong>By</strong><br />
Geography- <strong>Growth</strong>, Future Prospects <strong>and</strong> Competitive Analysis, 2016 - 2024,” the Europe offshore wind<br />
energy market was 13.4 GW in 2016, <strong>and</strong> is expected to reach 29.8 GW by 2024, exp<strong>and</strong>ing at a CAGR of<br />
12.0% from 2016 to 2024.<br />
Browse the full Europe <strong>Offshore</strong> <strong>Wind</strong> <strong>Energy</strong> <strong>Market</strong> - <strong>Growth</strong>, Future Prospects <strong>and</strong> Competitive Analysis,<br />
2016 – 2024 report at http://www.credenceresearch.com/report/europe-offshore-wind-energy-market<br />
<strong>Market</strong> Insights<br />
Europe offshore wind energy market is projected to witness robust growth owing to increasing investment in<br />
offshore wind energy projects. Rising energy dem<strong>and</strong> <strong>and</strong> growing concerns over the emission of greenhouse<br />
gases is influencing the governments to promote the adoption renewable energy source such as wind <strong>and</strong><br />
solar. Increasing investment in the offshore wind projects especially in Europe is anticipated to fuel the growth<br />
of offshore wind energy market. However, high cost of installation, delayed regulatory approvals <strong>and</strong> stringent<br />
labour laws are factors expected to restraint the growth of Europe offshore wind energy market during the<br />
forecast period (2016-2024).<br />
U.K. was the largest market for offshore wind energy in 2015 among all European countries. Increasing<br />
investment in offshore wind energy projects from private sector coupled with favorable government policies<br />
such as <strong>Energy</strong> Act, 2013 <strong>and</strong> establishment of <strong>Offshore</strong> <strong>Wind</strong> Cost Reduction Task Force to achieve levelised<br />
costs of offshore wind to £100 per MW/h by 2020 represent high growth for the offshore wind energy market<br />
during the forecast period (2016-2024).<br />
Germany is projected to be the fastest growing segment among all European countries during the forecast<br />
period. High number of approved <strong>and</strong> pipeline projects coupled with increasing investment from private<br />
sector in offshore wind energy is anticipated to fuel the growth of offshore wind energy in the region. The<br />
country is anticipated to witness addition of 4.5 GW capacity of installation offshore wind energy from under<br />
construction projects in next five years. Further, approval of new projects <strong>and</strong> pipeline projects is projected to<br />
exp<strong>and</strong> the installation capacity to 9.4 GW by 2020. The country also holds second largest market share on<br />
terms of installation capacity in Europe. The country is projected to gain significant market share by 2023.<br />
Other regions such as Denmark <strong>and</strong> Netherl<strong>and</strong>s are also anticipated to witness high growth during the<br />
forecast period (2016-2024).<br />
Considering the competition, the Europe offshore wind energy market is expected to witness a significant rise<br />
in investment in research <strong>and</strong> development with the focus to reduce installation cost of offshore wind<br />
installations. Further, market has witnessed strategic mergers <strong>and</strong> collaborations among Europe offshore wind<br />
energy regional <strong>and</strong> global players. Such growth strategies are focused on increasing their market penetration<br />
in consuming economies.<br />
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