San Francisco, California, June 14, 2017: TMR Research explains the factors responsible for the growth and inhibition of the wind energy market for offshore farms, in “Offshore Wind Energy Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2017 – 2025.” Wind energy has been extensively research upon over the past few decades. It is considered to be a high potential field in the energy sector. Owing to the swiftly increasing demand for energy across the world, the depletion of nonrenewable energy sources, and the growing concern over rising pollution levels, countries are making longer strides towards the development of renewable energy sources, including wind energy.
The global offshore wind energy market, in particular, is currently benefitting from the massive potential that it holds compared to onshore wind energy generation. The foremost advantage of setting up offshore wind energy farms is the much faster and more consistent wind speeds that allow the farms to generate a considerably higher power output. The global offshore wind energy market is also finding favor among countries due to the land that can be saved by installing wind energy farms offshore instead of onshore. This also helps eliminate the issue of radio interference that can happen due to onshore wind energy farms.
A substantial amount of research and development has so far gone into the progression of wind energy generation sources and plans, fuelled by government and private investors alike. The basic principle is still the same: wind blowing on to the farm propels fans that turn turbines, successfully converting the kinetic energy in the wind to electrical energy.
From a regional perspective, coastal areas are likely to benefit the most from the global offshore wind energy market. In the U.S., for instance, close to half the nation’s housing population resides or immediately adjacent to the coasts. The supplementation of offshore wind energy to these regions could help resolve the massive and inevitable energy crunch faced by the region over the coming years. North America in general is the leading region within the global offshore wind energy market, in terms of demand, implementation, and research and development on offshore wind energy.
Other regions are not too far behind, however, as the energy crisis reaches a boiling point and the demand for the installation and development of renewable energy sources intensifies. Europe is a strong and serious contender in the overall renewable energy markets and is showing signs of high interest in offshore wind energy. From Asia Pacific, China is showing an especially high level of interest in the installation of offshore wind energy farms to supplement the national population and its increasing demand for energy.
The leading players in the global offshore wind energy market so far, have included Siemens AG, Vestas Wind Systems A/S, Senvion SE, Sinovel Wind Group Company, and Alstom.