Global Offshore Wind Turbines Market: Growing Awareness Regarding Preservation of Natural Resources to Create Demand, says TMR

With more countries utilizing offshore wind potential, the global offshore wind turbines market is expected to grow at a significant pace, states a report by Transparency Market Research (TMR). The study is titled, “Offshore Wind Turbines Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” The report covers key drivers, restraints, trends, and opportunities in the market. It discusses important segments and sub-segments of the global offshore wind turbines market and mentions the leading and declining segments. The report also assesses the competitive landscape of the market and includes recent developments by key players in the market, strategies adopted by them, and their business and financial overview.

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Offshore wind is now expected to become one of the largest renewable power market segments by 2023 and this is driving the offshore wind turbines market. It is expected that the UK, China, and Germany will contribute significantly towards the growth of the market, owing to the growing number of projects that are currently in the planning or building phases. As fossil fuels are depleting, it has become inadvertent for governments and industries to look for alternative sources of energy. This has spurred the adoption of offshore wind energy as energy source by many countries, thus aiding the growth of the market.

Another reason behind the shift from conventional fuels to offshore wind is the fact that conventional or fossil fuels have adverse effects on the environment and human health. Thus, government and environmental regulations are in favor of investing in renewable energy. This is another important factor driving the global offshore wind turbines market. Government support has thus enabled countries such as India, France, the U.S., Germany, and the U.K. to invest heavily on wind energy, subsequently boosting the demand for offshore wind turbines. In addition to this, an overall rise in the demand for electricity especially in developing nations of Asia Pacific will drive the market in the future. Rapid industrialization and infrastructure development spur the need for electricity and will in turn create a heightened demand for alternative source of energy.

The report segments the global offshore wind turbines market on the basis of foundation type into tripod piled, steel jacket, tripod suction caisson, monopole, floating wind turbines, and gravity base foundation. Some of the key players operating in the offshore wind turbines market are Gamesa, Vestas, Siemens AG, Goldwind Science & Technology Co., Ltd., Sinovel Wind Group Co.,Ltd, General Electric, Suzlon Group, and Nordex SE. The report includes key information regarding the mergers, collaborations, partnerships, and acquisitions among players.