OFFSHORE WIND MARKET IS POISED TO GROW OVER USD 49,741.0 MILLION . offshore wind market_PDF. | Page 2

Offshore wind market Research Report- Forecast to 2023
1 Summary
Offshore wind energy farms are constructed offshore on continental shelf to harvest wind energy to
generate electricity. As offshore winds are comparatively of higher current as compared to land winds, a
higher amount of electricity can be generated through these installations.
Offshore winds are steady and have faster speeds resulting in higher & reliable energy generation. The
growth in this sector can be attributed to the increasing demand for clean and reliable energy in order to
reduce the global carbon emissions and to maintain ecological balance by generating electricity through
renewable resources. However, high initiating capital cost of the projects with high maintenance cost and
logistics issues, can hinder the offshore wind market. Also, high tidal winds and bad weather conditions
making it difficult to access the offshore wind farms even for problem rectification and preventive
maintenance will restrain the global offshore wind market.
Key Players:
The key players of global offshore wind market are Siemens AG (Germany), Vestas Wind Systems A/S
(Denmark), General Electric Company (U.S), Senvion SA (Germany), Areva (France), Clipper
Windpower, LLC (U.S), ABB Ltd. (Switzerland), Sinovel Wind (Group) Co., Ltd. (China), Doosan Heavy
Industries & Construction (South Korea), Suzlon (India), A2SEA (Denmark) and EEW-Group (Germany).
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