Global wind power market is set to reach 40 GW with 28% CAGR to 2020 according to the “Offshore Wind Turbines and Foundations – Global Market Size, Market Share, Regulations and Key Country Analysis to 2020” report available from MarketResearch.com.
The report analyzes offshore installed capacity, power generation, average wind turbine sizes, average installation prices and annual investment by turbine and foundations, both globally and for seven key countries. With more countries utilizing offshore wind potential, the global offshore wind power market is expected to increase more than fivefold from 7.1 GW in 2013 to 39.9 GW by 2020, representing a Compound Annual Growth Rate (CAGR) of 28%. This report analyzes the global offshore wind turbine and foundations market, as well as the offshore wind markets in the UK, Germany, Denmark, Belgium, China, South Korea and the US.
This latest report states that the global offshore wind energy space registered substantial growth between 2006 and 2013, rising from 0.9 GW in 2006 to 7.1 GW in 2013, at a higher CAGR of 33.9%. Of this, 1.6 GW came online in 2013, driven mainly by the UK, Germany, Denmark and Belgium. The annual investment in global offshore wind turbines, foundations and balance of plant was worth an estimated $8 billion in 2013. The offshore market is expected to become one of the biggest renewable power markets during the forecast period of 2014 to 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.
Offshore wind is now expected to become one of the largest renewable power market segments by 2020. The UK, Germany and China will contribute significantly towards this, thanks to a number of projects currently in the planning and construction stages. The report also includes market shares by turbine manufacturers, active and upcoming offshore projects and major regulations for each country. The report also examines the offshore global foundations market, which includes installed capacity by foundation type and competitive analysis of key global offshore foundation manufacturers. An analysis of the market drivers and restraints is provided for the global offshore wind power market.
A copy of the $3,995 report is available from Market Research: http://www.rnrmarketresearch.com/contacts/purchase?rname=206161 .
Filed Under: News, Offshore wind