This article provides notice of a report from Market Transparency Research.
Offshore wind energy is witnessing an increased level of adoption chiefly owing to its several benefits as compared to the existing onshore wind energy. Land acquisition and high noise generation in and around onshore wind farms are two reasons affecting the onshore wind energy generation. Feasibility of land is another key concern in present scenario since it depends on environmental conditions. With a number of man-made structures coming up in various parts of the world which act as an obstruction to the otherwise freely flow of wind, onshore wind farms will face a lot of ire in the near future. Most areas for onshore wind farms are near exhaustion.
Offshore and onshore wind farms harvest wind energy to produce electricity. They are one of the more promising green energy technology segments in the Asia Pacific region. The presence of a large number of high-potential offshore sites in the region, encouraging governments and regulations, and rising foreign investment are all helping drive the market at a significant pace. While the market is a relatively un-untouched aspect of wind energy generation in Asia Pacific, the region, often referred to as the next power and economy hub, is expected to emerge as one of the key investment locations for offshore wind energy in the near future.
The vendor landscape of the Asia Pacific offshore wind energy market is fragmented, with local and regional players accounting for nearly 45% and the top three vendors collectively holding only about 31% of the overall market in 2016, observes Transparency Market Research in a recent report. Most key segments of the market, including project management and development services, the supply of wind farm equipment and components, installation and commissioning, and operations and maintenance services are led by domestic and regional companies.
In the segment of wind-farm components and equipment suppliers, for instance, local and regional companies Goldwind, Ming Yang, XEMC, and Sinovel dominate the market owing to their cost-effective products and capability to undertake aggressive research and development activities in the field of high-capacity turbines. However, foreign offshore wind turbine manufacturers are considered superior in terms of technological expertise. Thus, foreign players could capitalize on the technological advantage to make their mark and pacify the blow dealt by low price products and an intensifying cost competition. Single user license: $5,795
From the latest report: http://bit.ly/2rY6KS5
Filed Under: News, Offshore wind, Policy
