NEW YORK, Sept. 13, 2022 /PRNewswire/ — The Offshore Wind Turbine Market size is expected to grow by 54975MT during 2021-2026, at a CAGR of 24% during the forecast period, according to Technavio. The government support for wind energy projects, decline in LCOE for wind power generation, and rise in offshore installations will offer immense growth opportunities. However, competition from alternative sources of energy, the high failure rate of wind turbine components, and the high investments required for offshore projects will challenge the growth of the market participants.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request Free Sample Report.
Offshore Wind Turbine Market Segmentation
- Gravity Foundation
The monopoly segment’s market share of offshore wind turbines will expand significantly. Due to its stability and a greater number of ongoing and planned lower-depth offshore projects, the monopiles substructure sector dominates the offshore wind turbine industry. The tower is supported by monopiles either directly or indirectly through a transition piece in the relatively straightforward monopile support structure. Buy Sample Report.
Offshore Wind Turbine Market Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our offshore wind turbine market report covers the following areas:
- Offshore Wind Turbine Market size
- Offshore Wind Turbine Market trends
- Offshore Wind Turbine Market industry analysis
This study identifies the rise in offshore installations as one of the prime reasons driving the offshore wind turbine market growth during the next few years. Download Free Sample Report.
Offshore Wind Turbine Market Vendor Analysis
We provide a detailed analysis of around 25 vendors operating in the Offshore Wind Turbine Market, including some of the vendors such as vendors Backed with competitive intelligence and benchmarking, our research reports …