Floating Wind Turbine Market to reach $30.6 billion by 2027, Challenges & Solutions | Siemens Gamesa Renewable, MHI Vestas Offshore Wind

June 17 18:46 2021
Floating Wind Turbine Market to reach $30.6 billion by 2027, Challenges & Solutions | Siemens Gamesa Renewable, MHI Vestas Offshore Wind

Floating Wind Turbine Market
“Floating Wind Turbine Market by Foundation and Depth: Opportunity Analysis and Industry Forecast, 2020–2027”, The global floating wind turbine market size was valued at $3.2 billion in 2019, and is projected to reach $30.6 billion by 2027, growing at a CAGR of 32.5% from 2020 to 2027.

Floating Wind Turbine Market by Foundation (Spar-buoy Foundation, Tension-leg platform (TLP) Foundation, Semi-submersible Foundation, and Others), Depth (Shallow Water (less than 60 m Depth) and Deep Water (higher than 60 m Depth)): Opportunity Analysis and Industry Forecast, 2020-2027  , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Floating Wind Turbine  market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Floating Wind Turbine  market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis

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 “Floating Wind Turbine Market by Foundation and Depth: Opportunity Analysis and Industry Forecast, 2020–2027”, The global floating wind turbine market size was valued at $3.2 billion in 2019, and is projected to reach $30.6 billion by 2027, growing at a CAGR of 32.5% from 2020 to 2027. Floating wind turbine, a type of offshore wind turbine, is supported by a floating foundation where most of the mass is underwater. The mounted structure allows the wind turbine to generate electricity in water depth where fixed foundation is not applicable. Floating wind turbine is effective in narrow continental shelf which has average depth of 200-250 meter.

 

Growing concern from government across the globe regarding renewable power source is anticipated to boost the floating wind turbine market growth. In addition, around 80% of the offshore wind resources are located in waters of more than 60 meter depth, where fixed off shore turbine is not effective. As the floating structure can harness wind resources even at deep water level, it is more effective in narrow continental shelf region with sea water depth more than 200 meter. In addition, floating wind turbine can decrease the cost of energy production more than that of fixed wind turbine in case of long term business. For instance, the present levelized cost of energy (LCOE) for wind turbine in Europe is around $220-$245 which is expected to reach $50-$73 by 2030.

Based on foundation, the spar-buoy segment garnered highest market share, owing to its simple design which can be easily fabricated. In addition, spar-buoy involves few number of welds unlike other designs.

Based on depth, the deep water (>60 meter) segment emerged as the market leader. The installation of deep water turbine offers large area with no constraint of water depth which helps in selecting the best site for wind power plant.

Europe accounted for significant market share, owing to favorable government measures to promote renewable power sources for industrial and commercial applications.

Major players have adopted product launch, business expansion, and acquisition to sustain the intense market competition. The key players profiled in the report include Siemens Gamesa Renewable, MHI Vestas Offshore Wind, Senvion SA, ABB group, GE Renewable Energy, and NORDEX SE.

 

COVID-19 scenario analysis:

Nation wise lockdown has severely impacted the wind turbine manufacturing in countries like China, Germany. Large number of manufacturing plants across these countries were operating with limited production capacity for last 6-8 months which negatively impacted the floating wind turbine market growth

Additionally, reduced manpower for planned maintenance became a major issue for industry players. As social distancing norms were imposed during the pandemic, it largely reduced active manpower in manufacturing sites

Furthermore, disruption in supply chain led to various project delays and cancellation of orders which further affected the key markets for both blade production and wind turbine installations.

However, implementation of digitization may aid in remote monitoring for project execution; thus, limiting the labor force as much as possible.

Key findings of the study

 

Semi-submersible Foundation is projected to grow at the highest CAGR of approximately 33.9%, in terms of revenue, during the forecast period.

By depth, the shallow water segment is anticipated to grow with a CAGR of 33.3%, in terms of revenue, during the forecast period.

The Europe dominated the floating wind turbine market with more than 60% revenue shares in 2019.

 

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Geographical Breakdown: The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery path of Covid 19 for all regions, key developed countries and major emerging markets.

 

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.

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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis

 

  • Market size and growth rate during forecast period.
  • Key factors driving the Market.
  • Key market trends cracking up the growth of the Market.
  • Challenges to market growth.
  • Key vendors of Market.
  • Detailed SWOT analysis.
  • Opportunities and threats faces by the existing vendors in Global Market.
  • Trending factors influencing the market in the geographical regions.
  • Strategic initiatives focusing the leading vendors.
  • PEST analysis of the market in the five major regions.
  • What should be entry strategies, countermeasures to economic impact, and marketing channels?
  • What are market dynamics?
  • What are challenges and opportunities?
  • What is economic impact on market?
  • What is market chain analysis by upstream raw materials and downstream industry?
  • What is industry considering capacity, production and production value? What will be the estimation of cost and profit? What will be market share, supply and consumption? What about import and export?
  • What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
  • What were capacity, production value, cost and profit?
  • Who are the global key players in this industry? What are their company profile, their product information, and contact information?
  • Which manufacturing technology is used, what are their company profile, their product information, and contact information?

 

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Key Points Covered in Floating Wind Turbine  Market Report:

Chapter 1 COVID-19 Outbreak-Global Floating Wind Turbine   Market Business Overview
Chapter 2 Major Breakdown by Type
Chapter 3 Major Application Wise Breakdown (Revenue & Volume)
Chapter 4 Manufacture Market Breakdown
Chapter 5 Sales & Estimates Market Study
Chapter 6 Key Manufacturers Production and Sales Market Comparison Breakdown
…………………..
Chapter 8 Manufacturers, Deals and Closings Market Evaluation & Aggressiveness
Chapter 9 Key Companies Breakdown by Overall Market Size & Revenue by Type
………………..
Chapter 11 Business / Industry Chain (Value & Supply Chain Analysis)
Chapter 12 Conclusions & Appendix

……..and view more in complete table of Contents

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