Offshore Wind Turbine Market Share
Segmentation Analysis:
Insights by Rating
The > 10 ≤ 12 MW segment is projected to grow by 18% between 2024 to 2033. In places with strong and constant winds, offshore wind turbines with capacity of 10 to 12 MW are intended to gather more wind energy. They produce more energy per turbine thanks to their greater rotor diameters and improved capacity. Due to their increased efficiency and lower installation and maintenance costs, larger turbines can result in a lower levelized cost of energy (LCOE). Offshore wind energy may become more competitive with other electricity sources as a result. The ability to maximise energy production at a specific site with larger turbines makes offshore wind projects more competitive overall in terms of energy production and potential profitability.
Insights by Installation
The Fixed segment is expected the dominate the market over the forecast period 2024 to 2033. Although fixed installations have traditionally been the preferred option for offshore wind farms, the industry has been looking into other technologies including floating offshore wind and hybrid solutions to access deeper oceans or areas with challenging bottom conditions. Offshore wind turbines with fixed installations are a proven technology with years of operational experience. Around the world, this technology has been effectively implemented in several areas, most notably in Europe.
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Competitive Landscape:
Major players in the market
- ABB
- DEME
- Doosan Heavy Industries and Construction
- EEW Group
- Envision
- General Electric
- Goldwind
- Hitachi
- Ming Yang Smart Energy Group Co.
- Nexans
- Nordex SE
- Rockwell Automation
- Shanghai Electric
- Siemens Gamesa
- Vestas
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