This Marine Wind Turbine market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Marine Wind Turbine market.
Global Marine Wind Turbine Market: Introduction
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.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Increasing demand for clean and renewable source of energy is expected to be the key factor driving the demand for the global marine wind turbine market. Increasing wind power capacity due to introduction of powerful as well as efficient turbines is also expected to propel the demand for energy generation through marine wind turbines. Increasing government support to encourage investment in new projects for energy generation through wind turbines is projected to fuel the demand and growth of the global marine wind turbine market across the globe.
Though marine wind turbines are quite a valuable source of renewable energy, but there are certain consequences and impacts on marine ecosystem caused by the operations of marine wind turbines. Working of wind turbines produces loud sounds, which may cause hearing damage or may disorient marine animals. Increasing global concern towards marine life is expected to be a restraining factor for the global marine wind turbine market. Another restraining factor affecting the demand for marine wind turbine is its limited geographical reach. The marine wind turbines are installed on the basis of various factors such as wind intensity geographical suitability, etc.
Manufacturers are significantly investing on the research and development sector for obtaining higher efficiency in energy generation. Floating wind turbines used for deeper waters and silent wind marine wind turbines is offering maximum safety with minimum noise emission, which is an ongoing trend in the marine wind turbine market.
Global Marine Wind Turbine Market: Segmentation
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.
Global Marine Wind Turbine Market: Key Participants
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 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.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.
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On the basis of base, the global marine wind turbine can be segmented as:
- Monopile base
- Tripod base
On the basis of axis, the global marine wind turbine can be segmented as:
- Vertical axis wind turbine
- Horizontal axis wind turbine
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 report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
- 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
Frequently Asked Questions
What research methodology is used to develop the Marine Wind Turbine Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Marine Wind Turbine Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Marine Wind Turbine Market report?
In addition to up-to-date market figures and customized of the Marine Wind Turbine Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.