Offshore Wind Energy Market Share, 2018-2023
The electrical infrastructure and foundations for an offshore wind farm accounts for about XX% of the costs, which is more than three times the corresponding costs for an onshore wind farm. Based on the current scenario of the offshore wind energy, it is safe to say that offshore wind is a capital-intensive investment, which is an important challenge in the wind industry.
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Market Overview:
The offshore wind energy market with respect to the installed capacity across different regions namely-North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW). The chapter also focuses on the key growth enablers based on a detailed push and pull force analysis. The segment further analyzes the ongoing trends in the industry in the various regions by probing into the past and present governmental regulations, and the macro and micro economic factors.
The offshore wind energy market in terms of installed capacity is dominated by Europe: the country has XX% of global installed capacity at the end of 2017.
The Europe offshore wind energy market in terms of installed capacity was XX MW in 2017 which is projected to reach a total of XX MW by 2023. The market is strongly driven by the increasing number of investments in the country by the government in the offshore wind energy segment. For instance, by 2030 82 turbines which are equivalent to 1,927MW are the upcoming offshore wind turbine projects in the region. An additional number of 11 projects off the coasts of Germany and the U.K. are being in the pipeline projects in the region. Europe’s total power generation takes place with the help of 4,149 grid connected wind turbines which are spread across 94 wind farms present in XX countries across the region.
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