Offshore Wind Market 2018 Professional Survey Report by
Industry Experts
The report "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", is expected to grow from an
estimated USD 27.02 Billion in 2017 to USD 55.11 Billion by 2022, registering a CAGR of 15.32%
from 2017 to 2022. The global market is witnessing a significant growth due to rising energy
demand coupled with increasing share of renewables in the power generation mix, energy
efficiency mandates demanding carbon emission reduction, and government incentives
supporting renewable energy deployment.
Browse 65 market data tables and 64 figures spread through 147 pages and in-depth TOC
on "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"
https://www.marketsandmarkets.com/Market-Reports/offshore-wind-market-253452593.html
Early buyers will receive 10% customization on reports.
Shallow water- the largest offshore wind market by location
Among the three water depth location for offshore wind turbines, shallow water is expected to
hold the largest share during the forecast period. The development of shallow water is generally
cost effective due to better weather conditions, whereas, installing wind turbines in deep water
becomes expensive due to high maintenance cost. However, offshore wind turbines are getting
installed in all three water locations depending on the region, turbine capacity, and wind speed.
Shallow water condition mostly prevails in the European countries due to favorable weather
conditions. The major players that provide turbines which can be installed in shall ow water
includes Siemens AG (Germany) and MHI Vestas (Denmark) among others.
The turbine component is expected to be the largest segment for the offshore wind market
The turbines accounts for the maximum cost of the total offshore wind project. It is the most
important component of an offshore wind farm. The three components such as nacelle, rotor, and
tower comprises the largest share of the capital cost, whereas, the substructure represents