© 2016 Global Market Insights, Inc. USA. All Rights Reserved Global Offshore Wind Market to reach 60 GW by 2024: Global Market Insights Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  The global Offshore Wind Market share report provides numbers for applications and regional segments of the industry covering historical as well as forecast data for decision makers.Offshore Wind Market  Offshore Wind Market size will surpass 60 GW by Increasing measures to reduce the greenhouse gas emission along with growing electricity demand will significantly drive the global offshore wind market size. In 2016, the member countries of the European Union announced their plan to achieve 21% renewable energy targets by 2020 through concurrently reducing the GHG emission level to 26% from 1990 level.  Rising investment towards the development of clean energy sources from financial institutions including International Finance Corporation (IFC), Asian Development Bank (ADB) and the World Bank will upsurge the market share. The Government of UK has established the Offshore Wind Investment Organization (OWIO) to promote investments towards sustainable energy resource integration. The country has further acknowledged the green investment bank to raise and circulate funds across clean energy projects. Key Insights from Offshore Wind Market :

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  UK offshore wind market will witness strong growth subject to favorable government measures to support the development of sustainable technologies. Regulators have introduced Contracts for Difference to ensure long term stable revenues from electrical infrastructure projects across the country. The Reform further lays provisions to ascertain viable returns to investors along with encouraging investments through leveraging schemes.  High-end research initiatives to cater to the competitive energy industry through efficient and cost-effective technology will drive the market size. In 2017, German Federal Network Agency launched an offshore wind tender for 1.5 GW to lower the generation tariff. The government of Netherlands is also targeting to reduce the overall cost by 40% over the next decade. In 2017, Siemens and Statoil in collaboration have established a 30 MW floating wind farm across Norway under the “Hywind Scotland” project. Continued...

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Wires and cables in 2016 accounted for over 2% of the offshore wind market revenue share. Expanding microgrid networks favored by advancing distributed generation technology will embellish the business landscape. In 2016, Belgium’s Tideway awarded USD 14.1 million contract to Prysmian for supplying 33 kV inter array submarine cables for a 309 MW power project.  China market is set to expand to over 12 GW by Clean energy capacity addition target accompanied by exponentially rising energy demand will uplift the industry size. Increasing government aided funds coupled with asset and financial leveraging facilities towards development of sustainable energy projects will further stimulate the business outlook. In 2017, State Power Investment Corporation announced its plan to develop 800 MW wind farm across coast of Yancheng and Jiangsu.  Key players across the offshore wind market include Doosan Heavy Industries & Construction, Adwen, MHI vestas, Senvion, Sinovel Wind, and Siemens. Continued...

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Global Offshore Wind Market, By Region, 2016 (Cumulative Capex, USD Billion)

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Browse Full Market Research Report On Offshore Wind Request for a Sample of this Research

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  By Component Floating turbines are gaining significant momentum across the Asia Pacific & Europe offshore wind market due to reduced visual pollution by providing simultaneous accommodation to fishing and shipping lane. In 2016, Norwegian offshore oil and gas group developed world’s first 30 MW floating plant across Scotland’s Aberdeenshire coast with total investment of USD 199 million.  By Region Trends The U.S. offshore wind market was valued over USD 140 billion in Federal government initiatives to meet the clean energy capacity addition targets will positively influence the country’s industry landscape. The country has synchronized its first 30 MW project in 2016 across Block Island. Citi and GE Energy Financial Services provided tax equity financing to the deep-water wind farm.  Competitive Market Share Key participants in offshore wind market include Siemens, Adwen, Senvion, MHI vestas, Sinovel Wind, Doosan Heavy Industries & Construction 360° Analysis

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