Global Offshore Wind Energy Market Rides on Improvement in Total Installed Capacity and Capacity Additions


Published Date : May 02, 2017

ALBANY, New York, May 2, 2017 – The global offshore wind energy market is prophesied to rise at an aggressive rate on the back of the swiftly growing worldwide total installed capacity, according to a market research report added by MarketResearchReports.biz. The report is titled as “Global Offshore Wind Energy Market - Analysis By Region, By Country: Opportunities and Forecast (2016-2021) - By Region (North America, Europe, APAC, and ROW); By Country (US, Canada,  Germany, U.K., Sweden, Netherland, Belgium, Denmark,, China,  Japan, South Korea, and Brazil).”

Plentitude of energy resources, mammoth coastal regions, and an elevating demand for clean energy are some of the top factors anticipated to set the tone for the growth of the world offshore wind energy market. During the forecast years, the world offshore wind energy market could receive a telling impetus on account of the amplification of capacities and investments supported by promising regulatory frameworks and incentive mechanisms. Besides this, the demand in the world offshore wind energy market could be aggravated because of a range of advantages over onshore wind energy activities.

The development of the international offshore wind energy market could be impeded because of the upsurge in capital expenses arresting brisk addition of capacities. However, turbine costs, installation expenditures, cabling expenses, and other costs within the entire value chain of the international offshore wind energy market are predicted to be reduced. Howbeit, cost reduction may depend on expected capacity additions performed annually. As a result, the international offshore wind energy market could be required to engage in a perpetual competition against other forms of renewable energy technology including its onshore equivalent.

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With wind energy associations, monetary support offered by banks in Europe, and government subsidies in full flow, the international offshore wind energy market is envisaged to attract a staggering growth in North America. Government subsidies coupled with colossal investments by native firms are foretold to bode well for countries such as South Korea in Asia Pacific and Germany in Europe. The U.K., Belgium, and Denmark could be other nations fortifying the higher growth of the Europe offshore wind energy market. Whereas, the Netherlands and France could be the star countries helping Europe to attain a strong position in the offshore wind energy market with advancement in annual capacity additions.

China is foreseen to bolster the Asia Pacific offshore wind energy market with specific project targets set to achieve during the forecast period. Rest of the World and North America geographies are forecasted to be on the slower side of the offshore wind energy market.

Amongst key players that are expected to an oath to exceed expectations in the worldwide offshore wind energy market are Vestas, Suzlon, General Electric, Vattenfall, Siemens, Senvion, ABB Group, Nordex, Samsung Heavy Industries, and Dong Energy.

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