Wind energy is a clean, renewable, and widely distributed source of energy. Marine wind turbines harness the wind energy and convert it into electricity. Marine wind energy can help in reducing air pollution and greenhouse gas emission to a significant extent. Marine wind turbines are nowadays equipped on boats and ferries in order to charge the battery. The working principle for marine wind turbine is similar to that of land-based wind turbines. The turbines are fitted with generators that convert mechanical power of blades of wind turbine into electrical energy. Marine wind turbines generate more energy per hour as compared to land wind turbines owing to the factors such as larger size of the turbines and higher wind speeds. Increasing concern towards depletion of fossil fuels coupled with growing demand for renewable sources of energy is expected to drive the demand for marine wind turbines during the forecast period. Hence, the global market for marine wind turbine is expected to witness significant growth in the coming years.
Global Marine Wind Turbine Market: Regional Outlook
Currently, offshore wind power installations are mainly concentrated across Europe. The region is expected to stand for a large share in the offshore energy generation through wind turbine. The U.K. operates with the leading installed offshore wind capacity in Europe accounting for around 40.8% installation in 2016. Limited number of offshore wind farms in the U.S. is expected to create significant opportunities for the marine wind turbine market during the forecast period. However, in Asia Pacific, the countries such as China, Japan, South Korea, India, and Taiwan have approved many projects, which are under development and are expected to come up in the future, which in turns is estimated to bring significant growth opportunities in the region during the forecast period. Increasing demand for renewable source of energy is expected to drive the demand and growth of the marine wind turbine market in the countries of Latin America and the Middle East and Africa.
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Global Marine Wind Turbine Market: Key Participants
Examples of some of the market participants identified across the value chain of the global marine wind turbine market are:
- TPI Composites
- Eco Power Shop
- Leading Edge
- Marlec (Rutland)
- Vestas Wind Systems A/S
- Nordex SE
- Norway-based SWAY
- StatOil Hydro
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Marine Wind Turbine Market: Segmentation
On the basis of base, the global marine wind turbine can be segmented as:
- Monopile base
- Tripod base
- Others
On the basis of axis, the global marine wind turbine can be segmented as:
- Vertical axis wind turbine
- Horizontal axis wind turbine
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint