A report on Offshore Wind Market was added by Kenneth Research which covers the market size and growth over a span of 8 years, i.e., over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Offshore Wind Market Products.
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As per the statistics recorded by the U.S. Energy Information Administration, the investments in solar PV and wind energy increased by about 15% from 2010 to 2018 in the United States. This increased expenditure in the industry is predicted to be observed as a result of rising corporate procurement in the region and in this sector.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
In this report, the Global Offshore Wind market was valued at USD 22.85 Billion in 2015, and is projected to reach USD 72.18 billion by 2025, growing at a CAGR of 12% over the forecast period.
“Offshore Wind Market “, published by Xpodence Research, provides extensive insight and analysis of the Offshore Wind Market over the next eight years (2015-2025) and acts as a vital point of reference for operators or suppliers.
The continuous growth is attributed to the growing demand for clean energy for protecting the environment and decrease the carbon emissions by generating power from renewable resources. Offshore wind energy forms an integral part of clean energy resources and possess higher capacity factor in comparison to onshore wind. Offshore wind technology includes inshore water areas as well including creeks, lakes, and sheltered coastal areas, utilizing conventional fixed bottom turbine technologies and deep water areas utilize floating turbines.
Shifting preference of consumers, growing demand for conventional sources of energy and rise in demand for electricity consumption are major drivers of the global offshore wind market. However, less investments and high initial costs tends to hinder the growth over the forecast period. Although, increasing R&D activities in cheaper products has anticipated paving new opportunities for offshore wind market.
The report includes –
Segmentation: Based on component segment, the report includes the revenue, growth rate, and market share, of each type,
• Turbine
• Substructure
• Electrical Infrastructure
On the basis of capacity, the market has been segmented further, and displays growth rate and market share over the forecast period;
• Upto 1 MW
• 1-3 MW
• 3-5 MW
• 5 MW and Above
Based on location, the market has been bifurcated into:
• Shallow Water
• Transitional Water
• Deep Water
Geographic Segmentation: This report split global market into North America, Europe, Asia Pacific, the Middle East and Africa and Latin America, with revenue (Billion USD), market share and growth rate of Offshore Wind for these regions, from 2015 to 2025 (forecast)
• North America: U.S., Rest of North America
• Europe: Germany, France, UK, rest of Europe
• Asia Pacific: China, Japan, India and Rest of Asia Pacific
• Middle East & Africa: GCC, North Africa, South Africa and Rest of MEA
• Latin America: Brazil and Rest of Latin America
Key players: Overview of market leaders in offshore wind market by top manufacturers/players, with revenue (Billion USD) and market share for each manufacturer/player. The top players including Enercon GmbH, Xinjiang Goldwind Science & Technologies Co. Ltd, Gamesa Corporacion Technologica S.A., Siemens Wind Power, Guodian United Power Technology Company Ltd, Vestas Wind Systems A/S, Nordex S.E., Upwind Solutions Inc., Suzlon Group, and GE Wind Energy.e adoption of wireless payment terminal, promoting cashless transactions in emerging economies, rising application of MasterCard, Euro Pay, & Visa cards, and wireless technology emergence in mobile handsets and wearable also drives the market. Non-compliance to PCI Data Security Standards (DSS) raises the possibility of card data breaches, results adverse impact on customer trust and representatives’ reputation. Though, solutions such as Omnishield Assure have been developed for card information protection via point-to-point encryption. The solution consequently reduces the burden and minimizes the risk of financial breach.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Offshore Wind Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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