Offshore Wind Market to Reach $55 Billion by 2022 – Key Players are Siemens, ABB, A2Sea, Nexans, EEW Group & General Electric – Research and Markets

DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “Offshore
Wind Market by Component (Turbine, Substructure, and Electrical
Infrastructure), Turbine Module, Substructure Type, Location (Shallow
Water, Transitional Water, and Deep Water), and Region – Global Forecast
to 2022” report to their offering.

The offshore wind market is projected to reach USD 55.11 billion by
2022, at a CAGR of 15.32% from 2017 to 2022. The offshore wind market
has been rapidly growing, especially in Europe as it contributed the
European Union (EU) to meet its renewable energy targets for 2020.

The global demand for electric power is increasing due to various
factors such as urbanization, increased industrialization, and economic
development among others. Rising energy demand and energy efficiency
mandates drive the demand for the offshore wind market. The offshore
wind market is gaining acceptance due to its high capacity factor which
makes it an important renewable resource to help in the reduction of CO2
emissions. Moreover, countries like China and the U.S. are also focusing
on emission reduction.

With regard to the substructure segment, monopiles are expected to
constitute the largest market from 2017 to 2022. This type of
substructure is mostly the preferred foundation type in the shallow
water location. It is mostly used for its simplicity, both in terms of
installation and fabrication. Monopiles have been recently upgraded to
be used in greater water depths and, thus, it is expected to maintain
its position and cover the largest market during the forecast period.

Companies Mentioned

• A2 Sea
• ABB, Ltd.
• Adwen
• Doosan Heavy Industries and Construction Co., Ltd
• Eew Group
• General Electric Company
• MHI Vestas Offshore Wind A/S
• Ming Yang Smart Energy Group Co.
• Nexans S.A.
• Senvion SA
• Siemens AG
• Sinovel Wind Group Co.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Offshore Wind Market, By Component

7 Offshore Wind Market, By Location

8 Offshore Wind Market, By Region

9 Competitive Landscape

10 Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/fqbldh/offshore_wind

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Related
Topics: Wind
Power, Turbines