Portland, OR, Jan. 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global floating wind turbine market generated $3.2 billion in 2019, and is projected to reach $30.6 billion by 2027, growing at a CAGR of 32.5% from 2020 to 2027.
Rise in demand for renewable power sources, reduced carbon emission and higher capacity factor than other wind turbines drive the growth of the global floating wind turbine market. However, high installation and high maintenance costs hamper the market growth. On the contrary, developments in wind turbine structure would open new opportunities for the market players in the future.
Download Sample PDF (255 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/7963
Covid-19 scenario-
- During the first phase of the lockdown, the limited availability of spares and manpower for maintenance negatively affected the market of the floating wind turbine. Moreover, cancellation of orders and delays in the project impacted the market.
- However, there is an increase in demand for remote monitoring of projected due to rapid implementation of digitization. This is expected to help the market get back on track.
The global floating wind turbine market is segmented on the basis of foundation, depth, deep water, and region. Based on foundation, the semi-submersible foundation segment is projected to manifest the highest CAGR of 33.9% during the forecast period. However, the spar-buoy foundation segment held the largest share in 2019, accounting for more than half of the market.
Get detailed COVID-19 impact analysis on the Floating Wind Turbine Market Request Here
Based on depth, the shallow water segment is projected to portray the highest CAGR of 33.3% from 2020 to 2027. However, the deep water segment held the lion’s share in 2019, contributing to around three-fifths of the market.
The global floating wind turbine market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe dominated in 2019, accounting for more than three-fifths of the market. However, the market across Asia-Pacific is expected to register the highest CAGR of 33.9% during the forecast period.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/7963
The global floating wind turbine market report includes an in-depth analysis of the major market players such as Siemens Gamesa Renewable, MHI Vestas Offshore Wind, Senvion SA, ABB group, GE Renewable Energy, and NORDEX SE.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
Wind Turbine Shaft Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Wind energy foundation market - Global Opportunity Analysis and Industry Forecast, 2020-2027
Wind Turbine Foundation Market - Global Opportunity Analysis and Industry Forecast, 2019-2026
Floating Power Plant Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Hydro Turbine Market: Global Opportunity Analysis and Industry Forecast 2020–2027
Wind Electric Power Generation Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn