New York, May 23, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Offshore Wind Power Market Report 2022-2032” – https://www.reportlinker.com/p06280208/?utm_source=GNW
The Offshore Wind Power Market Report 2022-2032: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Cost Reduction in the Offshore Wind Set-Up is Helping in Market Growth
The importance of cost reduction cannot be overstated. Wind turbines and installation account for over one-third of offshore wind project lifetime costs, while OPEX accounts for approximately 30%. Offshore wind LCOE has fallen well below what industry experts could have projected due to improving manufacturing, installation, and O&M efficiency, as well as growing turbine size and economies of scale. Over the previous five years, cost reduction options for offshore wind have been grossly overestimated. Fixed-bottom offshore LCOE is expected to drop from 35 to 49 percent between 2035 and 2050, according to experts polled, while floating offshore wind is expected to drop from 17 to 40 percent between 2035 and 2050. Innovation in turbine technology, as well as improvements in cost of capital, project design life, total capacity factors, and OPEX optimization, will drive this reduction.
Norway Has Announced Plans to Significantly Increase Offshore Wind Energy Output by 2040
Norway has announced plans to significantly increase offshore wind energy output by 2040, with the goal of transforming the country from an oil and gas exporter to a renewable energy producer. The administration, which has been chastised by environmentalists for continuing to assist the oil and gas industry, has set a goal of developing 30 gigawatts (GW) of offshore wind power by 2040. Following substantial demand from energy companies, Norway has designated two locations in the North Sea to accommodate up to 4.5 gigawatts (GW) of floating and bottom-fixed wind turbine capacity. Equinor, Shell, British Petroleum (BP), Denmark’s Orsted, and Italy’s Eni are among the utilities, oil and gas businesses, and engineering firms that have lined up to develop offshore power projects in Norway.
What Are These Questions You Should Ask Before Buying A Market Research Report?
• How is the offshore wind power market evolving?
• What is driving and restraining the offshore wind power market?
• How will each offshore wind submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2032?
• How will the market shares for each offshore wind submarket develop from 2022 to 2032?
• What will be the main driver for the overall market from 2022 to 2032?
• Will leading offshore wind power markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
• How will the market shares of the national markets change by 2032 and which geographical region will lead the market in 2032?
• Who are the leading players and what are their prospects over the forecast period?
• What are the offshore wind projects for these leading companies?
• How will the industry evolve during the period between 2020 and 2032? What are the implication of offshore wind projects taking place now and over the next 10 years?
• Is there a greater need for product commercialisation to further scale the offshore wind power market?
• Where is the offshore wind power market heading? And how can you ensure you are at the forefront of the market?
• What can be the best investment options for new product and service lines?
• What are the key prospects for moving companies into a new growth path? C-suite?
You need to discover how this will impact the offshore wind power market today, and over the next 10 years:
• Our 264-page report provides 131 tables and 129 charts/graphs exclusively to you.
• The report highlights key lucrative areas in the industry so you can target them – NOW.
• Contains in-depth analyse of global, regional and national sales and growth
• Highlights for you the key successful trends, changes and revenue projections made by your competitors
This report tells you TODAY how the offshore wind power market will develop in the next 10 years, and in-line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2032 and other analyses reveal the commercial prospects
• In addition to revenue forecasting to 2032, our new study provides you with recent results, growth rates, and market shares.
• You find original analyses, with business outlooks and developments.
• Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising offshore wind prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, V, L, W and U are discussed in this report.
Segments Covered in this report
Market Segment by
• Market Value (USD Billion)
• Market Cumulative Installations (GW)
Market Segment by Location
• Shallow Water Installation
• Transitional Water Installation
• Deep Water Installation
Market Segment by Technology
• Horizontal-Axis Wind Turbines (HAWTs)
• Vertical-Axis Wind Turbine (VAWT)
• Diffuser-Augmented Wind Turbine (DAWT)
• Vortex Bladeless Technology
• Other Technology
Market Segment by Components
• Electrical Infrastructure
• Other Components
Market Segment by Type
• Bottom Fixed
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for 4 regional and 20 leading national markets:
• Rest of Europe
• South Korea
• Rest of Asia Pacific
The report also includes profiles and for some of the leading companies in the Offshore Wind Power Market, 2022 to 2032, with a focus on this segment of these companies’ operations.
Leading companies and the potential for market growth
• ABB Ltd.
• DEME Group
• Doosan Heavy Industries & Construction Co Ltd
• General Electric Company
• Hitachi, Ltd.
• Ming Yang Smart Energy Group Limited
• Nexans SA
• Nordex SE
• Rockwell Automation, Inc.
• Shanghai Electric Wind Power Equipment Co.
• Siemens Gamesa Renewable Energy SA
• Sinovel Wind Group Co., Ltd
• Vestas Wind Systems A/S
• Xinjiang Goldwind Science & Technology Co Ltd
Overall world revenue for Offshore Wind Power Market, 2022 to 2032 in terms of value the market will surpass US$35.99 billion in 2022, our work calculates. We predict strong revenue growth through to 2032. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How the Offshore Wind Power Market, 2022 to 2032 Market report helps you?
In summary, our 264-page report provides you with the following knowledge:
• Revenue forecasts to 2032 for Offshore Wind Power Market, 2022 to 2032 Market, with forecasts for market value, cumulative installations, location, technology components, type, each forecasted at a global and regional level– discover the industry’s prospects, finding the most lucrative places for investments and revenues
• Revenue forecasts to 2032 for 4 regional and 20 key national markets – See forecasts for the Offshore Wind Power Market, 2022 to 2032 market in Americas, Europe, Asia-Pacific. Also forecasted is the market in the US, Canada, Germany, France, UK, China, Japan, and Taiwan among other prominent economies.
• Prospects for established firms and those seeking to enter the market– including company profiles for 15 of the major companies involved in the Offshore Wind Power Market, 2022 to 2032 Market.
Read the full report: https://www.reportlinker.com/p06280208/?utm_source=GNW
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