The study offers market size forecasts for each country, the country's preferences and its challenges, and strategic information on what OEMs should invest in and develop.
This study outlines the general outlook for the offshore wind turbine market until 2025; analysis segments, how government plans and regulations drive the market, how geopolitical chaos restrain growth, how competitive intensity is dynamic and is both disrupted and driven by technology, including the transformative Mega Trends across the Asia-Pacific, and the country-level market trend.
The research concludes that the biggest challenge to the market is the lack of commissioning projects in a timely manner. Asia-Pacific can lose projects valued hundreds of billions of dollars, regardless of the market drivers, trends, government plans, or market demands. Executing and commissioning projects have become a far more valuable aspect than mere planning and proposing projects.
The research has identified the following market drivers and restraints:
Government regulations and national project plans driving offshore wind turbine installations
Growing power demand pushing for offshore wind power supply
Adoption of power purchase agreements (PPAs) influencing power producers to choose renewable energy
Price drop in wind turbine prices powering demand
Low affordability and lack of strong supply chain slowing down market adoption
Slow adoption of clean energy resources in developing countries hindering offshore wind market growth
COVID-19 causing project installation delays
Key Topics Covered:
1. Strategic Imperatives
Why is it Increasingly Difficult to Grow?
The Strategic Imperative
Impact of the Top 3 Strategic Imperatives on the Offshore Wind Turbine Market
Growth Opportunities Fueling the Growth Pipeline Engine