Offshore Wind Market Worldwide Industry Analysis – P&S Intelligence
Offshore wind power is generated from wind farms constructed in the ocean on the continental shelf. These wind farms are installed in the ocean for energy harvesting purpose. Offshore medium offers greater wind speed as compared to offshore medium. As a result of greater wind speed, electricity generation capacity is higher for these farms as compared onshore setting. Under the scope of this study, offshore wind technology has been covered. The offshore wind market has been segmented on the basis of architecture, component, location, and region.
The global offshore wind market is driven by factors such as growing demand for renewable energy across different industries, and government supports across different countries promoting the use renewable energy such as wind, hydro, and solar. For example, in September 2017, U.K government has created renewable support auction to provide monetary benefits to low-carbon power schemes. Such government support has decreased the per unit consumption cost of wind energy, which in turn fueling its demand among consumers. In order to fulfill this surplus demand, developers are expanding offshore wind infrastructure. This has acted as supply side growth driver for the offshore wind market.
Currently, penetration of distributed energy systems is minimum in the offshore wind market owing lack of availability of supportive technology and high cost barriers. However, distributed wind energy offers benefits such as uninterrupted power supply, offsetting large loads locating nearby, and cost optimization during service lifecycle. In coming years, by developing distributed the offshore wind market wind farms will provide similar kind of benefits to customers.
Some of the major players operating in the global offshore wind market are Enercon GmbH, Siemens AG, General Electric Company, Nordex SE, Vestas Wind Systems A/S, Suzlon Group, Sinovel Wind Group Co., Ltd., Adwen, Doosan Heavy Industries and Construction Co., Ltd, and Senvion S.A.