TransparencyMarket Research (TMR) in a report has stated that the Asia Pacific offshore wind energy market isfragmented as in nature. While the market exhibits the presence of severalregional and international players, the leading market share was held by merelythree companies. According to TMR, the three leading companies accounted for31% of global offshore wind energy market in 2016. Almost every sector withinthe market exhibits considerable representation from both regional andinternational players. Some of these sectors are operations and maintenanceservices, installation and commissioning, supply of wind farm components andequipment, and project development and management services.
In order tostrengthen their foothold, regional and local players alike invest in researchand development activities. This is also intended to build high-capacityturbines and cost-effective products. It is important to note in this regardthat foreign companies are considered excellent in terms of technologicaladvancements. The prominent players in this market include Goldwind ScienceTechnology Co., Ltd., GE Wind Energy, Suzlon Group, Dong Energy A/S, VestasWind Systems A/S, Nordex S.E., Gamesa Corporacion Technologica S.A., SiemensWind Power, China Ming Yang Wind Power Group Ltd., and Sinowel Wind Group Co.,Ltd.
This reportby Transparency Market Research has estimated that in 2017 the value of theAsia Pacific offshore wind power market was valued at US$8,960.8 mn in 2017 andis estimated to reach up to US$60,201.5 mn by 2025, with a health CAGR of 22.4%over the forecast period 2017-2025.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=23876
ChinaDominates Market Due to Presence of Prominent Players
Amongfoundation types such as tripod, jacket, floating, monopole, and others, theothers segment had a dominant share of 44.7% in the Asia Pacific offshore windenergy market in 2016. This others segment includes foundation types such asground mounted foundations and high risk pile cap (HRPC). This report statesthat, geographically, China owns the leading share in the total market owing tothe presence of some of the region’s leading players and large number ofpreviously installed and planned offshore wind energy plants.
More Trending Reports
Favorable Environment Factors MakeOffshore wind energy Preferable than Onshore wind energy
Offshorewind energy provides more benefits than existing onshore wind energy, which isexpected to boost this market. Furthermore, factors such as high noisegeneration around onshore wind farms and complications related to landacquisitions are motivating industrial giants to adopt offshore wind energyover onshore wind energy. Moreover, feasibility of land, which is affected bythe environmental conditions of land to construct onshore wind farms arechanneling the market of onshore wind energy to offshore wind energy. Thesetrends are expected to fuel the market for offshore energy for the forecastperiod.
Request Covid19 analysis on thismarket
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=23876
Research and Development Activitiesto Overcome High-Cost and High Maintenance Complications
Thetechnology for offshore wind turbine solutions is at nascent stage. Planningand set-up phase of offshore wind farms need higher investment than onshorefarms. These incurred costs can affect this market adversely. Furthermore,complex grid structures are required for transmission and storage ofelectricity produced, this lead to higher cost of generation and distributionof power which may act as a restraint for the market growth. Additionally, othergreen energy markets such as onshore wind energy and solar energy act as directcompetitors for this market, which may limit this market.
Nevertheless,the technology is still being developed and new solutions which will causeeffective and efficient power generation from offshore wind farms are beingexplored. These continuous research and development activities are expected tosustain the overall market.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=23876<ype=S
AboutUs
TransparencyMarket Research (TMR) is a market intelligence company, providing globalbusiness information reports and services. Our exclusive blend of quantitativeforecasting and trends analysis provides forward-looking insight for thousandsof decision makers. TMR’s experienced team of analysts, researchers, andconsultants, use proprietary data sources and various tools and techniques togather, and analyze information. Our business offerings represent the latestand the most reliable information indispensable for businesses to sustain acompetitive edge.
Each TMRsyndicated research report covers a different sector - such as pharmaceuticals,chemicals, energy, food & beverages, semiconductors, med-devices, consumergoods and technology. These reports provide in-depth analysis and deepsegmentation to possible micro levels. With wider scope and stratified researchmethodology, TMR’s syndicated reports strive to provide clients to serve theiroverall research requirement.
US Office Contact
90 StateStreet, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
