Given the commercial success of the global wind power industry in tapping resources on land, why move offshore, where the deployment challenges are so much greater? Many of the best land-based wind resource sites located close to urban centers of demand have already been developed, with remaining sites facing higher costs due to less attractive wind resource regimes and long distance transmission costs. Furthermore, the world’s best wind resources are largely untapped since they are located offshore, typically in shallow waters close to urban population centers.
Europe has been operating wind turbines offshore for close to a decade. The United Kingdom is the current market leader in Europe, with Germany also coming on quite strong. However, Pike Research forecasts that China’s offshore wind market will pull even with Europe’s two largest players by the end of the forecast period, with the United States trailing behind. Key factors shaping offshore wind markets over the coming years include a move toward larger wind turbines, new innovations for less expensive operations and maintenance, a focus on high-voltage direct current (HVDC) transmission lines, and the need to secure new sources of financing.
This Pike Research report provides an in-depth analysis of global opportunities in the offshore wind power market, as well as an examination of key challenges facing the industry. It examines technology innovations that will influence the future direction of the market, and also features detailed profiles of key industry players, including a SWOT analysis for each. Market forecasts extend through 2017 and include projections for installed capacity, installation costs, and production revenue, segmented by region and country.
About Pike Research
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of these industry sectors.