Global Offshore Hydropower Market Overview:
A technology that uses hydroelectric power to tap the oceans massive energy reserve is called the Offshore Hydropower. It uses tidal currents or the power of waves to generate electricity from seawater. The increasing focus towards the greenhouse emissions has increased the demand for the ecofriendly power generation methods. As offshore hydropower does not require any extra construction such as a dam or reservoir; it is anticipated to be the most favored technology for power generation in coming years.
As per latest study released by AMA Research, the Global Offshore Hydropower market is expected to see growth rate of 5.3%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Growing Installation of Offshore Hydropower Plants
Market Growth Drivers:
Increasing Demand for Clean Energy and Rising Investments
Challenges:
Large Number of Permits Requirement for Construction
Restraints:
Effect on Environment and Wild Life and High Cost of Installation
Opportunities:
Advantages of Offshore Pumped Hydropower Storage and Growing Worldwide Demand for Distributed Electricity
Competitive Landscape:
In Offshore Hydropower Market, it has been observed that most of the companies are upgrading or introducing innovative products/services. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.
Some of the key players profiled in the report are Iberdrola (Spain), First Solar, Inc. (United States), Bronzeoak Philippines, Inc. (Philippines), Vattenfall (Sweden), Calpine Corporation (United States), NextEra Energy, Inc. (United States), Siemens AG (Germany), Alstom SA (France), China Yangtze Power Co., Ltd. (China), RusHydro (Russia), LDK Solar Co. Ltd. (China), Suzlon Energy Ltd. (India), E.ON UK (United Kingdom) and HydroChina International Engineering Co., Ltd.(China). Analyst at AMA Research see United States, United Kingdom, and Chinese Manufacturers to retain maximum share of Global Offshore Hydropower market by 2030. Considering Market by Power Capacity, the sub-segment i.e. Upto 30 KW will boost the Offshore Hydropower market.
Latest Market Insights:
On December 12, 2023, Oceanwind and Simply Blue Energy announced a joint venture to develop a 1GW floating offshore wind farm in the Celtic Sea, off the coast of Wales. This partnership aims to leverage Oceanwind's experience in project development and Simply Blue's expertise in marine renewable energy.
On October 26, 2023, Minesto launched its "Deep Green" tidal energy system, designed for operation in deeper waters with stronger currents. This technology has the potential to unlock vast untapped resources for tidal energy generation.
What Can be Explored with the Offshore Hydropower Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Offshore Hydropower Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Offshore Hydropower
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Offshore Hydropower 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 Hydropower 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 Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Offshore Hydropower Providers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries.
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.