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Offshore Wind Power - Global Capacity, Equipment Market Share, Technological Roadmap, Cost Analysis and Regulatory Framework to 2020

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Description

“Offshore Wind Power - Global Capacity, Equipment Market Share, Technological Roadmap, Cost Analysis and Regulatory Framework to 2020” is the latest report from GlobalData, the industry analysis specialists that offer comprehensive information and understanding of the Global Offshore Wind Power market.

The research provides an understanding of the key drivers, restraints, trends and opportunities in the global offshore wind market. It also provides historical and forecast data to 2020 for installed capacity, power generation, carbon saved and number of homes powered. The report details the turbine market share and product information of major turbine manufacturers in the global offshore wind market. The report analyses offshore wind initiatives with policy framework in major countries such as the UK, Germany, Denmark, Netherlands, Sweden, Norway, the US, Canada and China.

The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s Team of industry experts.

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Global Energy Industry

The population of the world has been increasing at a rapid pace in the last few decades and this has lead to an increase in demand for a number of resources like water, food and energy. The population of the world doubled from 3.2 billion in 1962 to 6.4 billion in 2005 and is forecast to reach 9.2 billion in 2050. Natural resources such as coal, oil and gas are fast depleting and the fear of climate change is putting pressure on the energy sector to move away from non-renewable sources for producing energy and concentrate on renewable sources to meet energy demands.

For further details, please click or add the below link to your browser:

http://www.globaldata.com/reportstore/Report.aspx?ID=Offshore-Wind-Power-Market-Analysis-to-2020-Global-Capacity-Equipment-Market-Share-Technological-Roadmap-Cost-Analysis-and-Regulatory-Framework&ReportType=Industry_Report&coreindustry=Industry_Report&Title=Alternative_Energy

The energy industry is facing challenging times, meeting energy demands in the face of depleting natural resources while simultaneously reducing carbon emissions. This is coupled with the slow pace of technological innovation in renewable energy and the political instability of oil and gas producing nations.

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The total world energy consumption stood at 9,323 Mtoe in 2001 and it rose to 11,484 Mtoe in 2009.

Wind Power

Wind has a huge potential to act as an energy resource. Wind power is the conversion of the energy present in wind into a useful form of energy by using turbines, mills and pumps. As of 2009, the total global installed capacity for wind energy is 160 GW and it is expected to grow in the future. Wind energy is an attractive source of energy as it is clean, plentiful, and renewable and produces no greenhouse gases.

Offshore wind power is being increasingly explored across the world for its high yield due to stronger and more consistent winds compared to onshore wind power and the scope to construct massive GW-scale projects. Currently, offshore wind energy installations form a small part of the overall wind power market worldwide. However, huge potential exists for the offshore wind to become one of the major sources of energy in the future.

There is a huge potential of offshore wind power in the North Sea, the East coast of the US, and in the East China Sea. As wind power is the most sustainable and cheapest of the renewable sources of energy, it is expected to grow significantly in future.

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Government Support and Funding from Industry Associations

Various governments have announced policies to encourage organizations to establish offshore wind farms. Along with huge tax concessions, governments are introducing new tariff regulations in order to compensate for the huge investments. The UK government is offering 1.5 Renewable Obligation Certificates (ROC) per MWh of power generated by offshore wind power compared to 1 ROC per MWh of power produced from onshore wind power. The German government has announced a sprinter bonus to encourage faster development of offshore wind projects in the region.

UK leading the race

The UK and Denmark are leading the race compared to other countries in the world in the field of offshore wind energy. A major number of active wind farms are operational in these regions and the countries have identified a number of sites along their coasts which are favorable for offshore wind power. These countries have allocated budgets and set targets to encourage using renewable sources for energy production and are making efforts in that direction.

Investments by wind companies

Wind companies across the world are investing millions of dollars into research and development activities of offshore wind turbines, vessels and so on. Turbine

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manufacturers are developing turbines which can sustain the rough weather conditions at sea and which are also of high capacity. Shipping companies are developing vessels which are suitable for the development of offshore wind turbine installations and are expecting a revolution similar to that caused by the oil and gas industry a few years ago.

For further details, please click or add the below link to your browser:

http://www.globaldata.com/reportstore/Report.aspx?ID=Offshore-Wind-Power-Market-Analysis-to-2020-Global-Capacity-Equipment-Market-Share-Technological-Roadmap-Cost-Analysis-and-Regulatory-Framework&ReportType=Industry_Report&coreindustry=Industry_Report&Title=Alternative_Energy

Visit our report store: http://www.globaldata.com

For more details contact:

pressreleases@globaldata.com

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