Offshore Wind Turbines and Foundations - Global Market Size, Market Share, Regulations and Key Country Analysis to 2020, New Report Launched

Global Offshore Wind Power Market to Register Steady Growth during Forecast Period

The global offshore wind energy market registered substantial growth between 2006 and 2013. Offshore wind energy installed capacity increased at a Compound Annual Growth Rate (CAGR) of 33.9%, from 0.9 Gigawatts (GW) in 2006 to 7.1 GW in 2013, of which 1.6 GW came online in 2013. This was driven by major offshore wind power markets, namely the UK, Germany, Denmark and Belgium.

The offshore market is expected to become one of the biggest renewable power market segments during the forecast period (2014–2020). The UK, Germany and China will be major offshore wind power drivers, with a number of projects currently in the planning and construction stages. With an increasing number of countries exploiting offshore wind potential during the forecast period, offshore wind power is expected to increase from 7.1 GW in 2013 to 39.9 GW in 2020 at a CAGR of 28%.

UK Emerges as Largest Offshore Wind Power Market in 2013

The UK was the global leader in the offshore wind power market in 2013 with a cumulative installed capacity share of 52.1%, supported by aggressive targets, policy support and a shift towards a greener energy base.

The UK offshore wind power market is expected to continue its growth momentum between 2014 and 2020. The country’s growing concern over climate change and the security of the energy system will provide enough impetus for the renewable industry, especially the offshore wind industry, to continue its growth trajectory. Offshore wind generation has a critical role to play in delivering the UK’s renewable energy targets and ensuring supply security. The last decade has seen offshore wind progress from an immature technology into a proven technology, which is expected to be a significant contributor to the achievement of the UK’s renewable targets. Against this backdrop, offshore wind power installations in the UK will increase during the forecast period. Cumulative offshore wind power installations are expected to increase from 4.3 GW in 2014 to 11 GW in 2020.

Offshore Wind Power Market Share to Continue to Grow during Forecast Period

Global cumulative wind installed capacity in 2013 amounted to 320 GW, of which 38% is located in Europe, making it the largest market for wind power. Of this global total, 97.8% is installed onshore and 2.2% is installed offshore. The offshore wind market is expected to become one of the biggest segments of the wind power market during the forecast period. It is increasingly being explored across the world for its high yield, due to stronger and more consistent winds compared to onshore and the scope that this provides for the construction of large GW-scale projects. The UK, Germany, the Netherlands, Denmark and Belgium are major global offshore wind power markets, with a number of projects currently in the planning and construction stages. With an increasing number of countries exploiting offshore wind potential between 2014 and 2020, the share of offshore wind in the global wind power market is expected to have reached 6.1% by 2020.

Siemens Dominates Offshore Wind Turbine Manufacturing in Cumulative Installations

Most of the turbines installed in offshore wind farms up to 2013 were made by Siemens. The company was the largest offshore wind turbine supplier, accounting for 56.49% of cumulative installed capacity, followed by Vestas Wind Systems with 20.19%. Other manufacturers, such as BARD Engineering, Senvion, Sinovel Wind Group, Xinjiang Goldwind Science & Technology and GE Power & Water, account for smaller shares of the total number of offshore wind turbine installations.

Spanning over 199 pages, “Offshore Wind Turbines and Foundations - Global Market Size, Market Share, Regulations and Key Country Analysis to 2020” report covering the Global Wind Power Market, Global Offshore Wind Power Market, Offshore Wind Foundation Market, Global, Offshore Wind Power Market, UK, Offshore Wind Power Market, Germany, Offshore Wind Power Market, Denmark, Offshore Wind Power Market, Belgium,  Offshore Wind Power Market, China, Offshore Wind Power Market, South Korea, Offshore Wind Power Market, US, Appendix.

Know More About This Report: http://mrr.cm/ZXP