Which Is Base Year Calculated In The Offshore Wind Energy Industry Report?

Global Offshore Wind Energy Market Research Report initially provides a basic overview of the industry that covers definition, applications and technology, post which the report explores into the international players in the market. The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the market.

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Offshore wind energy is the technology used to generate electricity by wind using wind turbines constructed near the coastline of oceans and lakes. Offshore wind energy offers various advantages such as generation of energy from renewable sources. The energy is generated at higher speed on offshore as compared to onshore, which positively impacts the market growth.

Furthermore, according to the Department for Business, Energy & Industrial Strategy, electricity generated in Q1 of 2018, in the U.K. had a share of 30.1% of renewables, which was around 27% in Q1 2017. In Q1 2018, around 53.2% increase was observed in offshore wind electricity generation. Thus, increasing offshore wind energy generation is expected to fuel the market growth in the near future.

North America is expected to witness lucrative market growth over the forecast period in the global offshore wind energy market. The growth is attributed to increasing demand for wind energy and rising investment in the wind energy sector in North America. The U.S. and Canada are major contributing economies in the wind energy sector. According to the U.S Department of Energy, around US$ 50 billion would be saved from the global damage of greenhouse gases by introducing offshore wind projects in the U.S.

Furthermore, the high presence of key players in North America is driving growth of the offshore wind energy market in this region. For instance, the turbine manufacturers such as Bergey Wind Power and Kelso Energy LTD is focused on updating its turbines with advanced technologies such as onboard sensors and advanced rotor with features of injection and compression moulding.

Asia Pacific is expected to hold the significant market share over the projected period in the market. In addition to this, the region pegged for 2.12 GW in 2018 during the projected period in the global offshore wind turbine market.

Major players in the market are focusing on adopting key strategies such as partnerships & collaborations in the global offshore wind energy market. For instance, in April 2018, MHI Vestas Offshore Wind announced its collaboration with Ramboll, company that produced the industry’s first encapsulated foundation load software tool. The collaboration helped the company to develop software tool allowing foundation designers to perform integrated load analyses independently in closed-system, version of the full turbine model used for detailed foundation load simulations.

Key players operating in the global offshore wind energy market include MHI Vestas Offshore Wind, Siemens Gamesa Renewable Energy, S.A., J.J Cole Collections, Sinovel Wind Group Co., Ltd, Erndtebrücker Eisenwerk Gmbh & Co. Kg, Northland Power Inc., ABB Ltd., Ming Yang Smart Energy Group Limited, Adwen GmBH, General Electric Company, A2SEA A/S, Nexans, and others.

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[Note: *The PDF Brochure Includes

1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]

Important Information that can be extracted from the Report:

♦ Assessment of the COVID-19 impact on the growth of the Offshore Wind Energy Market

♦ Successful market entry strategies formulated by emerging market players

♦ Pricing and marketing strategies adopted by established market players

♦ Country-wise assessment of the Offshore Wind Energy Market in key regions

♦ Year-on-Year growth of each market segment over the forecast period 2027

 

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In Addition, The Years Considered For The Study Are As Follows:

Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026

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