Floating Wind Power Market Size is estimated to grow at a CAGR of 56.5% during the forecast period

The global Floating Wind Power Market size is expected to grow remarkably during forecast period of 2024 to 2029, due to expanding industrialization, energy efficiency initiatives, stricter emissions regulations, demand from power generation, and retrofitting older systems. This information is published by Fortune Business Insights, in its latest report titled “ Floating Wind Power Market Size, Share & COVID-19 Impact Analysis, By Water Depth (Shallow Water, Transitional Water, and Deep Water), By Turbine Capacity (Up to 3 MW, 3 MW - 5 MW, and Above 5 MW), and Regional Forecast, 2022 – 2029"

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According to latest report published by Fortune Business Insights, The global floating wind power market size was valued at USD 0.29 billion in 2021. The market is projected to grow from USD 0.68 billion in 2022 to USD 15.64 billion by 2029, exhibiting a CAGR of 56.5% during the forecast period. 

Top Floating Wind Power Market Size Manufacturers covered in the Market Report include:

• Siemens Gamesa Renewable Energy S.A. (Spain)
• ABB (Switzerland)
• GE (U.S.)
• Ming Yang Smart Energy Group Co. (China)
• MHI Vestas Offshore Wind (Denmark)
• Senvion S.A (Germany)
• Adwen GmbH (Germany)
• Nordex SE (Germany)
• GoldWind (China)
• Envision Energy (China)
• Suzlon Energy Limited (India)
• Hitachi (Japan)

Recent Key Industry Development:

 

October 2020: Total purchased a 20 per cent stake in EolMed floating wind pilot project. It is located in the Mediterranean Sea, near Port-La-Nouvelle and off the coast of Gruissan in France. It will contain three MHI Vestas 10 MW turbines.
June 2020: Siemens Gamesa Renewable Energy bagged a new order to deliver 100 units of its SG 14-222 DD offshore wind turbines for 1.4 GW Sofia Offshore Wind Farm. It is located in the U.K. The project will be able to generate electricity to power more than 1.2 million households.

Floating Wind Power Market Report Scope [2024-2029]

Hostorical Data :2016-2018

Base Year: 2019

Report Title: Floating Wind Power Market Size, Share & COVID-19 Impact Analysis, By Water Depth (Shallow Water, Transitional Water, and Deep Water), By Turbine Capacity (Up to 3 MW, 3 MW - 5 MW, and Above 5 MW), and Regional Forecast, 2022 – 2029

Floating Wind Power Market CAGR: 56.5%

Report Coverage: Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends

Segments Covered:

• By Product
• By Application
• By Region

An Overview of the Impact of COVID-19 on this Market:

The outbreak of the COVID-19 pandemic has negatively impacted various business sectors across the world. Various impositions like lockdown, social distancing and ban on imports & exports have impacted the production and distribution of various goods and services, which were considered as non-essential by the governments. Many enterprises in the Floating Wind Power Market  were obliged to temporarily suspend operations due to the COVID-19 pandemic, in order to comply with new government rules aimed at preventing the disease’s spread. This pause in activities has a direct influence on the market’s revenue flow.

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Floating Wind Power Market Drivers:

Increasing Shift Toward Clean Energy Generation to Drive Growth

The most fundamental driver in the energy and power industry is the demand for energy. Population growth, urbanization, and economic development all contribute to increasing energy consumption. The industry must respond to meet this growing demand.

Environmental considerations are increasingly important. Concerns over climate change and air pollution are driving a shift towards cleaner and more sustainable energy sources such as renewables (solar, wind, hydro) and nuclear power.

Ensuring a stable and reliable energy supply is critical for a nation's security. This can lead to investments in domestic energy production and infrastructure.

Advances in energy storage technologies, such as batteries, are enabling the integration of intermittent renewable energy sources into the grid and increasing grid stability.The availability and accessibility of natural resources like coal, oil, gas, and minerals can significantly impact energy production and costs.

Global and Regional Market Analysis:

The market is analyzed across the U.S., the U.K., Germany, France, Spain, Sweden, Japan, China, Norway, and the rest of the world.

The Floating Wind Power Market study describes the market area, which is further segmented into sub-regions and countries/regions. This chapter of the report includes information on profit prospects in addition to market share in each country and sub-region. During the estimated time, this report includes the market share and growth rate of each region, country, and sub-region. In addition, the Floating Wind Power Market research report includes significant research data and proofs to be a useful resource record for managers, analysts, industry professionals, and other key individuals to have a ready-to-access and self-analyzed study to help grasp market patterns.

 North America (United States, Canada, and Mexico)
 Europe (Germany, France, UK, Russia, and Italy)
 Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
 South America (Brazil, Argentina, Colombia, etc.)
 The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

FREQUENTLY ASKED QUESTIONS:

• How much was the global Floating Wind Power Market worth in 2021?
• Who are the top players actively operating across the market?
• How much will the global market be worth by 2029?
• What are the key market drivers?
• Which application segment is the leading across the globe?
• At what compound annual growth rate (CAGR) is the global market projected to grow in the forecast period?

Major Points from Table of Contents

Global Floating Wind Power Market Research Report 2024-2029, by Manufacturers, Regions, Types and Applications

• Report Business Overview
  
  
  • Study Scope
  • Market Analysis by Type
  • Market by Application
  • Study Objectives
  • Years Considered
• Global Growth Trends
  
  
  • Global Floating Wind Power Market Perspective
  • Growth Trends by Region
  • Market Dynamics
  • Industry Trends
  • Market Drivers
  • Market Challenges
  • Market Restraints
• Competition Landscape by Key Players
  
  
  • Global Top Players by Revenue
  • Global Market Share by Company Type
  • Players Covered: Ranking by Revenue
  • Global Market Concentration Ratio
  • Global Market Concentration Ratio
  • Global Top 10 and Top 5 Companies by Revenue
  • Key Players Head office and Area Served
  • Key Players Product Solution and Service
  • Date of Enter into Market
  • Mergers and Acquisitions, Expansion Plans

• Floating Wind Power Market Breakdown Data by Type
  
  
  • Global Historic Market Size by Type
  • Global Forecasted Market Size by Type

• Floating Wind Power Market Breakdown Data by Application
        
  • Global Historic Market Size by Application
  • Global Forecasted Market Size by Application

• Appendix
  
  
  • Research Methodology
  • Methodology/Research Approach
  • Data Source
  • Author Details
  • Disclaimer

Continued….

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