Market Research Report
Offshore Wind Turbines - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||942424|
|Published||Content info||184 Pages
Delivery time: 2-3 business days
|Offshore Wind Turbines - Global Market Outlook (2019-2027)|
|Published: June 1, 2020||Content info: 184 Pages||
According to Stratistics MRC, the Global Offshore Wind Turbines Market is accounted for $37,841.09 million in 2019 and is expected to reach $82,303.13 million by 2027 growing at a CAGR of 10.2% during the forecast period. Some of the key factors propelling the market growth are introduction of climate change policies, efforts to reduce the use of fossil fuels, and investments in renewable energy sector. However, adoption of alternative clean energy souces is the restraining factor for the growth of the market.
Offshore wind turbines are set up in water bodies and are used for harvesting wind energy by. Due to the higher velocities of wind in offshore locations, these wind turbines ensure greater power delivery than their onshore counterparts.
By foundation type, the floating foundation segment is expected to grow at a significant market share during the forecast period because it can be installed and maintained at a relatively lower cost. On the basis of geography, Europe is anticipated to hold considerable market share during the forecast period due to the favourable government initiatives in the region.
Some of the key players in Offshore Wind Turbines Market include GE Wind Energy, Siemens Wind Power, Hitachi Ltd, Upwind Solutions Inc, Guodian United Power Technology Company Ltd, Vestas Wind Systems A/S, Senvion SA, Suzlon Group, Nordex S.E., Gamesa Corporacion Technologica SA, Envision Energy Limited, Enercon GmbH, and Xinjiang Goldwind Science & Technologies Co Ltd.
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