Offshore Wind Energy Market: Turbine Segment to Showcase 17% Growth by 2024
Category: #technology  By Ronak Bora  Date: 2020-01-15
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Offshore Wind Energy Market: Turbine Segment to Showcase 17% Growth by 2024

Offshore wind energy market from turbine is anticipated to expand over 17% by 2024. These units account for a large portion of the total project cost which play a pivotal towards plant performance and feasibility. In addition, continuous developments in turbine size for offshore installations, new blade designs, emerging turbine assembly concepts and innovative drive trains are some of the key factors strengthening the product demand.

The U.S. offshore wind energy market is anticipated to expand at over 1 GW by 2024. Discovery of new potential sites coupled with significant investment to scale up offshore supply chain will drive the industry landscape.

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Europe’s offshore wind energy market will witness growth on account of favorable government regulations, decarbonization reforms and energy security initiatives. Increasing investments by leading companies to explore the offshore potential will further drive the industry landscape.

0 – 30 m water depth, offshore wind energy market is anticipated to grow over 14% by 2024. Increasing usage of monopile and tripod type foundations in the shallow water regions along with superior transmission and grid connectivity opportunities will enhance the construction of offshore farms in 0 - 30m water depth sections.

Fixed installation, in 2017 accounted for majority of the offshore wind energy industry share owing to improvement in seabed characterization and advanced project design software. In addition, implementation of LiDAR technology will help in reduction of turbine installation costs, which in turn will further complement the business outlook.

< 100 kW offshore wind energy market is predicted to surpass annual installation of 500 MW by 2024. Continuous development of co-generation units to support energy and heat utilization across small commercial, industrial and off-grid networks will boost the product adoption. Ongoing technological advancements for improvement of re generation units to sustain low energy requirements will further stimulate the product penetration.

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Notable industry players across the offshore wind energy market include Enercon, Vestas, GE, Nordex Acciona, Siemens Gamesa, Senvion, MHI-Vestas, Goldwind, United Power, Envision Energy, Suzlon, Mingyang, Wobben, WEG SA, Impsa, Clipper, Bergey, LM, Enessere, Northern Power Systems, RTS, Global Energy Services, Availon, Prysmian, General Cable, Furukawa Electric, Southwire, Nexans, LS Cable, and Sumitomo.

Some Points From Table Of Content: -

Chapter 4.  Offshore Wind Energy Market, By Component

4.1. Offshore wind energy industry share by component, 2017 & 2024

4.2. Turbine

4.2.1.   Market estimates and forecast, 2013-2024

4.2.2.   Market estimates and forecast, by region, 2013 – 2024

4.2.3.   Rating

4.2.3.3.  < 100 kW

4.2.3.4.  100 kW to 250 kW

4.2.3.5.  > 250 kW to 500 kW

4.2.3.6.  > 500 kW to 1 MW

4.2.3.7.  1 MW to 2 MW

4.2.3.8.  > 2 MW

4.2.4.   Installation

4.2.4.3.  Floating

4.2.4.3.3.   Axis

4.2.4.3.3.3.   Horizontal (HAWTs)

4.2.4.3.3.3.3.   Up-wind

4.2.4.3.3.3.4.   Down-wind

4.2.4.3.3.4.   Vertical (VAWTs)

4.2.4.3.4.   Structure

4.2.4.3.4.3.   Rotor module

4.2.4.3.4.4.   Nacelle module

4.2.4.3.4.5.   Tower module

4.2.4.4.  Fixed

4.2.4.4.3.   Axis

4.2.4.4.3.3.   Horizontal (HAWTs)

4.2.4.4.3.3.3.   Up-wind

4.2.4.4.3.3.4.   Down-wind

4.2.4.4.3.4.   Vertical (VAWTs)

4.2.4.4.4.   Structure

4.2.4.4.4.3.   Rotor module

4.2.4.4.4.4.   Nacelle module

4.2.4.4.4.5.   Tower module

4.3. Support structure

4.3.3.   Substructure (Steel)

4.3.4.   Foundation

4.3.4.3.  Monopile

4.3.4.4.  Jacket

4.3.5.   Others

4.4. Electrical infrastructure

4.4.1.   Market estimates and forecast, 2013-2024

4.4.2.   Market estimates and forecast, by region, 2013 – 2024

4.4.3.   Wires & cables

4.4.4.   Substation

4.4.5.   Others

4.5. Others

Chapter 5.  Offshore Wind Energy Industry, By Depth

5.1. Offshore wind energy industry share by depth, 2017 & 2024

5.2. 0 - 30 m

5.2.1.   Market estimates and forecast, 2013-2024

5.2.2.   Market estimates and forecast, by region, 2013 – 2024

5.3. 30 - 50 m

5.3.1.   Market estimates and forecast, 2013-2024

5.3.2.   Market estimates and forecast, by region, 2013 – 2024

5.4. > 50 m

5.4.1.   Market estimates and forecast, 2013-2024

5.4.2.   Market estimates and forecast, by region, 2013 – 2024

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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