Jan 29 2015
Research and Markets has announced the addition of the "Global Offshore Wind Power Market 2015-2019" report to their offering.
Offshore wind power is the generation of electricity from wind by constructing wind farms in water bodies. It is estimated to be one of the cheapest and cleanest forms of electricity generation. Offshore wind turbines are larger in size and have greater wind speed compared with onshore wind turbines. Offshore wind power offers various advantages compared with onshore wind power.
The analysts forecast the Global Offshore Wind Power market to grow at a CAGR of 17.5 percent (by Revenue) over the period 2014-2019.
The report, the Global Offshore Wind Power Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Offshore Wind Power forecast and its growth prospects in the coming years. The report also includes the segmentation on the basis of Foundation Type and Geography. The report also includes a discussion of the key vendors operating in this market.
The increased fiscal benefit provided by the installation of offshore wind power is a major trend in the market. One of the major fiscal benefits that offshore wind power investors and turbine manufacturers can avail is the FiT, which is a policy designed by several governments to encourage investment in technology related to renewable energy generation.
According to the report, increased environmental concerns are one of the key drivers of this market. The relatively environmentally friendly nature of offshore wind power will positively impact the growth of this market. Offshore wind power generation leaves a remarkably small carbon footprint. Carbon emissions associated with offshore wind power operations are zero. Emissions are emitted in the manufacturing processes related to various offshore wind power components.
Further, the report states that one of the challenges confronting the market is the need for huge investments in offshore wind power. The cost of financing an offshore wind farm is high when compared to other renewable power sources.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.