Offshore Wind Market share research by applications and regions for 2017-2024

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Offshore Wind Market - Global Industry Analysis
and Forecast 2017 2024 Global Market Insights
Inc.
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Industry Overview

• Offshore Wind industry analysis is covered in
  this latest research report that aims to help
  those taking daily business decisions by
  providing market trends information, competitive
  landscape scenario, forecasts and more.
• The recent launch of two offshore wind farms by
  Dong Energy is an instance demonstrating the
  expansion of global Offshore Wind Market. This
  Denmark based energy company has announced the
  inauguration of Gode Wind 1 and 2 offshore wind
  farms, located 45 km off the German coast, with a
  combined capacity of 582 MW. With most of the
  regional governments regulatory organizations
  undertaking numerous initiatives to adopting
  renewable energy, offshore wind industry is
  estimated to surpass a capacity of 60 GW by 2024,
  having held a valuation of USD 60 billion in in
  2016.
• Europe has been one of the most outgoing
  participants of global offshore wind market. The
  numerous efforts taken by the regional government
  bodies have a key role to play in the development
  of this market. In addition, the continent is
  home to numerous energy companies that have been
  increasingly investing in RD activities to come
  up high grade technology for developing
  sustainable energy.

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• APAC and European belts. This is essentially due
  to the need to simultaneously accommodate
  shipping and fishing activities and reduce visual
  pollution. The first floating turbine encompassed
  a capacity of 30 MW and was developed by the
  Norwegian offshore oil and gas group in 2016. A
  total of USD 199 million was spent on this plant,
  which is located across the Aberdeenshire coast
  of Scotland. A significant rise in such
  investments will suitably augment Europe offshore
  wind market.
• Germany is another region is Europe that has been
  contributing significantly to offshore wind
  industry, in addition to numerous other renewable
  energy initiatives. The German government has
  mandated stringent targets for increasing turbine
  capacities to generate renewable energy on a
  large scale. In addition, recently, the German
  government, in tandem with the governments of
  Belgium and Denmark, has planned to cumulatively
  add an offshore capacity of 60 GW by 2027.
• The regulatory bodies in Netherlands have been
  increasingly striving toward promoting clean and
  affordable energy. On these grounds, the nation
  has come up with the National Energy Agreement,
  under which an additional 4.5 GW of offshore
  capacity is slated to be added by 2023. Recently
  in 2017, the nation integrated its largest
  offshore farm in the North Sea that is designed
  to manufacture 2.6 TWh of clean energy on an
  annual basis.

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• Research and development activities are being
  prioritized by companies in order to innovate
  high grade wind based technologies and impel
  offshore wind market. For instance, in 2017, an
  offshore wind tender of 1.5 GW capacity was
  launched by the German Federal Network Agency
  with an aim to reduce the generation tariff. The
  Netherlands government also aims to reduce the
  generation costs by 40 over the next ten years.
  In fact, recently in 2017, Statoil and Siemens
  had collaborated under the Hywind Scotland
  project to come up with a floating wind farm in
  Norway. The farm encompasses a capacity of 30 MW
  and is expected to heavily influence the overall
  offshore wind industry.
• The past decade has witnessed a bifold growth
  rate for global offshore wind market. The
  deployment of stringent government norms to curb
  carbon emissions and implement clean energy
  schemes will impel this market over the years to
  come. Reputed biggies such as Senvion, MHI
  Vestas, Sinovel Wind, Siemens, Doosan Heavy
  Industries Construction, and Adwen have been
  adopting organic strategies to sustain their
  position in the escalating offshore wind
  industry.

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Global Offshore Wind Market, By Region, 2016
(Cumulative Capex, USD Billion)

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