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Offshore wind energy market 2016- 2023. Business Articles | August 25 Alvaro Morata Jersey , 2016
Offshore Wind Energy Market Size, Industry Analysis Report, Regional Outlook, Application Development, Price Trend Alexandre Pato Jersey , Competitive Market Share & Forecast, 2016 – 2023
Offshore wind energy market size is anticipated to exceed USD 130 billion by 2023. Rising number of wind farms is expected to drive the market growth over the forecast period.
Europe offshore wind energy market is expected to dominate the global industry. The surge in the region can be attributed to increasing government policies. The European Union is expected to have set the electricity generation targets such as 35% from the renewable and 12% from wind sources. The region is anticipated to install 40 GW of wing energy generation system over forth coming years. As of 2013, the region was estimated to produce 5 GW of this energy. In addition, the industry is likely to add up 4.5 GW of production units annually over the next seven years.
Asia pacific offshore wind energy market size is anticipated to witness significant growth from 2016 to 2023. The region is expected to add up 1.5 GW of additional capacities annually and is estimated to be valued over USD 5 billion by 2023. Major region involved for the setup include China, Japan Customized Chelsea Jersey , Taiwan and South Korea. Industry development is also expected to drive offshore wind turbine market size.
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Rising investments accompanied by technological innovations are expected to escalate cost competitiveness along with construction activities. This in turn is likely to drive industry growth over the forecast period. Flourishing construction of turbines is projected to move farms away from shore in order to resolve limited space issues near coastlines as well as to deal with constrictive environmental laws. The projects away from cost are likely to encourage high efficient turbine manufacturing and also facilities in building bigger energy farms. This in turn might lead to turbines getting bigger as well as more powerful which is ultimately expected to fuel the project output capacity.
Bigger turbines are anticipated to be more efficient in operation. The capital expenditure involved in construction is likely to drop down by 6% over the forecast period. In addition, maintenance as well as operational costs is anticipated to descend by 14%. However capacity factor is expected to increase by 12% over the several upcoming years.
Proliferating installation of turbines is anticipated to increase the need for sighting new offshore wind sights in ever-deeper water areas. This in turn is likely to raise logistical issues for turbine installation and might hamper the industry growth. Further, new water vessels are being designed in order to set up offshore turbine systems effectively and efficiently.
The report "Hybrid Power Solutions Market by System Type (Solar-Diesel, Wind-Diesel, Solar-Wind-Diesel) Cheap Chelsea Jersey , Power Rating (Upto 10 kW, 11 kW鈥?00 kW, and Above 100 kW), End-User (Residential, Commercial Willy Caballero Chelsea Jersey , Telecom), and Region - Global Forecast to 2021", The hybrid power solutions market is expected to grow from an estimated USD 466.5 Million in 2016 to USD 689.5 Million by 2021, registering a CAGR of 8.1% from 2016 to 2021. The global market is witnessing significant growth due to growth in hybrid power generation in off-grid sites, reliable power generation with minimized fuel Willian Chelsea Jersey , reduced operation and maintenance cost, and reduction in carbon emission.
Browse 68 Market Data Tables and 47 Figures spread through 131 Pages and in-depth TOC on"Hybrid Power Solutions Market - Global Forecast to 2021"
Solar-diesel segment is expected to hold the largest share of the hybrid power solutions market, by system type, during the forecast period
The solar-diesel segment led the overall hybrid power solutions market in 2015. Solar-diesel systems are applicable in all types of end-users: residential, commercial Victor Moses Chelsea Jersey , and industries like telecom, mining, and oil & gas among others. Increased applications of off-grid renewable power systems is driving the market of solar-diesel hybrid power solutions, which are being proposed at a large scale in Asia-Pacific and Africa.
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Commercial end-users are expected to hold the largest market share of the hybrid power solutions market, by end-users Tiemoue Bakayoko Chelsea Jersey , during the forecast period
The commercial segment is expected to hold the largest share in the hybrid power solutions market during the forecast period. Commercial sector include hotels, resorts, schools, or hospitals located at islands or off-grid areas, which do not have grid power supply and are highly dependent on diesel generators for their power requirements. Dependence on diesel and fuel availability is a concern factor which may affect power supply in crucial moments: this creates huge opportunity for implementing hybrid power solutions in commercial sector.
The Middle East & Africa is the largest market for hybrid power solutions
In this report Thibaut Courtois Chelsea Jersey , the hybrid power solutions market has been analyzed with respect to four regions, namely, the Americas, Europe, Asia-Pacific Ruben Loftus-Cheek Chelsea Jersey , and the Middle East & Africa. The Middle East & Africa is estimated to be the largest market for hybrid power solutions till 2021. African countries have lowest electrification rate in the world, which provides a huge opportunity to implement hybrid power solutions at large scale.
Major Market Developments
鈥?In November 2016, Flexenclosure launched maintenance free hybrid power system eSite x10 for telecom industry.
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