Authored By: Sarah
16 Aug 2021

Floating Wind Turbine: Top Drivers that will Enable COVID-19 Recovery

Synopsis of Growth Drivers with Market Forecast 2021-2025

Technavio’s Floating Wind Turbine Market is set to grow by $ 993.58 mn, and the market will decelerate at a CAGR of about 34.35% till 2025. This research report identifies and analyses the growth drivers that will boost market growth. It also provides a thorough understanding of all the segments, trends and challenges that are likely to have an impact on the future prospects fo the market in focus.


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Floating Wind Turbine Market: Key Market Drivers

One of the key factors that will drive growth is Favorable government regulations for floating wind. This research report provides a comprehensive analysis of this and all the other factors that will boost growth during the forecast period. In addition to market drivers, our research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario. Our analysis is designed to empower clients with actionable insights that will help them leverage growth opportunities and formulate winning strategies to drive their business further.

Top Drivers for Floating Wind Turbine Market Size to Grow by $ 993.58 mn During 2021-2025

Floating Wind Turbine Market: Segments and Geographical Regions

This report provides a detailed analysis of the market by Market Landscape (Semi-submersible, Spar-buoy, and Others) and Geography (Europe and ROW). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Request our Free Sample Report 

Floating Wind Turbine Market: Vendor Analysis

The market is concentrated due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Doosan Heavy Industries and Construction Co. Ltd., Eaton Corporation Plc, Equinor ASA, General Electric Co., Hitachi Ltd., Mingyang Smart Energy Group Co. Ltd., Naval Energies, Principle Power Inc., Siemens AG, and Vestas Wind System AS are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is decelerate at a CAGR of about 34.35%.
     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 993.58 mn through 2021-2025.
     
  3. What is a key factor driving this market?
    Favorable government regulations for floating wind will drive market growth over the forecast period.
     
  4. What are the key regions covered in this market research report?
    Europe and ROW are the key regions featured in this research report.
     
  5. Which is the leading geographic region for this market:
    57% growth will originate from Europe
     
  6. Who are the leading market vendors?
    The leading vendors in this market are Doosan Heavy Industries and Construction Co. Ltd., Eaton Corporation Plc, Equinor ASA, General Electric Co., Hitachi Ltd., Mingyang Smart Energy Group Co. Ltd., Naval Energies, Principle Power Inc., Siemens AG, and Vestas Wind System AS
     
  7. What are the market segments covered in this report?
    The market is segmented by Market Landscape (Semi-submersible, Spar-buoy, and Others) and Geography (Europe and ROW)

Floating Wind Turbine Market Size to Grow by 582 MW through 2020-2024

The floating wind turbine market is expected to grow by 582 MW, decelerating at a CAGR of almost 58% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. View Free Sample Report

Floating Wind Turbine Market: Segmentation by Geography

This report provides a detailed analysis of the market by Geography (Europe and ROW) and Other 1 (Spar-buoy, Semi-submersible, and Others). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges which are likely to influence market growth during the forecast period. These insights are expected to equip clients with reliable information based upon which they can design a growth strategy for their business and area of operations.

Top Drivers for Floating Wind Turbine Market Size to Grow by $ 993.58 mn During 2021-2025

Floating Wind Turbine Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Doosan Corp., Equinor ASA, General Electric Co., Hitachi Ltd., MHI Vestas Offshore Wind AS, Mingyang Smart Energy Group Co. Ltd., Naval Energies, Principle Power Inc., Senvion SA, and Siemens AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

Floating Wind Turbine Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024

Technavio has been monitoring the floating wind turbine market and it is expected to grow by 582 MW, decelerating at a CAGR of almost 58% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Floating Wind Turbine Market: Key Trends to impact market growth

The rise in offshore installations is one of the key floating wind turbine market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.

Floating Wind Turbine Market: Top Drivers to Boost Demand

The favorable government regulations for floating wind is one of the primary factors driving the growth of the floating wind turbine market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business

Top Drivers for Floating Wind Turbine Market Size to Grow by $ 993.58 mn During 2021-2025

Vendor Analysis: Doosan Corp., Equinor ASA and General Electric Co. are key growth contributors

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Doosan Corp., Equinor ASA, General Electric Co., Hitachi Ltd., MHI Vestas Offshore Wind AS, Mingyang Smart Energy Group Co. Ltd., Naval Energies, Principle Power Inc., Senvion SA, and Siemens AG are some of the major market participants.

For more insights on this market: Download a Free Sample Report

Floating Wind Turbine Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive floating wind turbine market growth during the next five years
  • Precise estimation of the floating wind turbine market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the floating wind turbine market industry across Europe and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of floating wind turbine market vendors

Technavio has been monitoring the Global Floating Wind Turbine Market and it is expected to grow by 582 MW decelerating at a CAGR of about 58% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report

Top Drivers for Floating Wind Turbine Market Size to Grow by $ 993.58 mn During 2021-2025

Floating Wind Turbine Market: Favorable Government Regulations for Floating Wind Power to Drive Growth

Many governments have granted funds for floating offshore wind demonstration projects. Governments from several countries, especially France, Norway, Portugal, Japan, and the US, have also supported floating offshore wind projects through various industry collaborations and funding mechanisms, which will drive the market for floating wind turbines during the forecast period.

Floating wind turbines are a renewable source of energy which caters to the global goal of reducing GHG emissions. Global leaders seek to rely on renewable energy sources as a form of sustainable growth. Thus, the increase in clean energy initiatives are likely to lead to an increase in harnessing renewable sources to produce energy which augurs well for the market in focus. 

Floating Wind Turbine Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Doosan Corp., Equinor ASA, General Electric Co., Hitachi Ltd., MHI Vestas Offshore Wind AS, Mingyang Smart Energy Group Co. Ltd., Naval Energies, Principle Power Inc., Senvion SA, and Siemens AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. 

Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

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