Global Offshore Wind O&M Services Market Overview:
Offshore winds are often stronger and more constant than on land winds. Because offshore wind turbines are located near coastal areas, there is less demand for additional overland transmission lines. Because wind potential energy is proportional to the cube of wind speed, a small increase in wind speed results in much more electricity. A turbine installed at a site with an average wind speed of 16 miles per hour (mph), for example, will generate more than 50% more electricity than a turbine installed at a site with an average wind speed of 14 mph.
- Increasing Investments In Renewable Energy
- High Expensive And Difficult To Build And Maintain
- Favorable Government Incentives To Increasing Installation Of Wind Power
- Rapidly Expansion Of Offshore Wind Industry In Develop Regions
- Creating Noise Pollution In The Surrounding Areas
- Environmental Issues
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Siemens Gamesa (Spain), Vestas (Denmark), General Electric (United States), ABB (Switzerland), Doosan Heavy Industries and Construction (South Korea), Hitachi (Japan), Nordex SE (Germany), EEW Group (Germany), Nexans (France) and DEME (Belgium). Additionally, following companies can also be profiled that are part of our coverage like Hyundai Motor Group (South Korea), Schneider Electric (France) and Sinovel (China). Analyst at AMA Research see United States Players to retain maximum share of Global Offshore Wind O&M Services market by 2026. Considering Market by Category, the sub-segment i.e. Turbine will boost the Offshore Wind O&M Services market.
Latest Market Insights:
On 8 July 2021 Purus Marine, a maritime holding company that owns environmentally-advanced vessels and infrastructure equipment, announced an agreement to acquire a large offshore wind service operation vessel (“SOV”). The SOV is currently under construction and will deliver directly into a multi-year time charter with a leading European renewable energy company, beginning early 2022. The SOV is a hybrid-electric vessel that offers best-in-class environmental performance and is “zero emissions ready” with future larger battery/charging and fuel cell options. A leading Norwegian ship manager and owner will provide technical and commercial services for the SOV.
On 11 May 2021 GE Renewable Energy and Toshiba Energy Systems and Solutions Corporation announced that they have signed a strategic partnership agreement to localize critical phases of the manufacturing process of GE’s Haliade-X offshore wind turbine and to support its commercialization in the country., On 16 January 2019 Siemens Gamesa Renewable Energy (SGRE), the world’s leader in the offshore industry, launched the SG 10.0-193 DD, the company’s first 10+ MW offshore wind turbine. Based on the experience of its previous generations, the newest wind turbine in the SGRE offshore product portfolio builds on proven technology for maximum energy yield at all wind speeds. It offers the same reliability while improving profitability and reducing risk for customers. and On 30 September 2021 Spanish companies Navantia and Eolos Floating Lidar Solutions have signed an agreement to develop maintenance systems for the offshore wind industry using unmanned marine autonomous vehicles.
What Can be Explored with the Offshore Wind O&M Services Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Offshore Wind O&M Services Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Offshore Wind O&M Services
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Offshore Wind O&M Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Offshore Wind O&M Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Offshore Wind O&M Services Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Offshore Wind O&M Services Market?
The Offshore Wind O&M Services market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Offshore Wind O&M Services Market?
Top performing companies in the Global Offshore Wind O&M Services market are Siemens Gamesa (Spain), Vestas (Denmark), General Electric (United States), ABB (Switzerland), Doosan Heavy Industries and Construction (South Korea), Hitachi (Japan), Nordex SE (Germany), EEW Group (Germany), Nexans (France) and DEME (Belgium), to name a few.
3. What trending factors would impact Offshore Wind O&M Services Market growth most?
"Adoption Of Emerging Technology, Data Analytic And Artificial Intelligence Is Effective In Maintenance Of Wind Power" is seen as one of major influencing trends for Offshore Wind O&M Services Market during projected period 2020-2026.