A floating wind turbine also known as offshore wind turbines is mounted on a floating structure which allows the turbines to produce electricity in water-depths where bottom mounted towers are not feasible. Placing wind farms out at sea could reduce visual-pollution, whereas providing better accommodation for fishing & shipping lanes. Furthermore, the wind is naturally more strong and consistent over the sea, because of the absence of topographic features that disrupts wind flow. The global demand for renewable energy is growing rapidly due to the climate change, and also due to limited oil resources.
The global floating wind turbines market is primarily driven by reduction in cost of wind energy, and growing demand for renewable energy along with increasing part of renewables in power generation. However, hard to build and high installation cost are the major hindrance for the market growth. Moreover, government support for wind energy projects in many countries is expected to generate numerous growth opportunities for the market in the forecast period.
The global floating wind turbines market is mainly classified on the basis of capacity, location, and geography. By capacity, the market comprises up to 1 MW, 1-3 MW, 3-5 MW, and 5 MW and above. By location, the floating wind turbines market is divided into shallow water, deep water, and ultra-deep water.
Based on geography, floating wind turbines market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
The key players operating in the market are Nordex SE, Enercon GmbH, Siemens AG, Gamesa Corporación Tecnológica, GE, Vestas Wind Systems A/S, Xinjiang Goldwin Science & Technologies Co. Ltd., Suzlon, Upwind Solutions, Inc., and Guodian United Power Technology Company Ltd., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Floating Wind Turbines Market with respect to major segments such as capacity, location, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Floating Wind Turbines Market has been included in the report
- Profile of the key players in the Global Floating Wind Turbines Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Floating Wind Turbines Market
- Up to 1 MW
- 1-3 MW
- 3-5 MW
- 5 MW and above
- Shallow Water
- Deep Water
- Ultra-Deep Water
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East