DUBLIN--(BUSINESS WIRE)--Dublin - Research and Markets (http://www.researchandmarkets.com/research/n9rqhd/vessels_cables_an) has announced the addition of GlobalData's new report "Vessels, Cables and Foundations in the Offshore Wind Market - Global Market Size, Cost Analysis, Market Share and Demand-Supply Scenario to 2020" to their offering.
Growth of Offshore Wind Market Spins Out to Related Markets
The global wind energy market witnessed huge growth during 2010-2011, as total wind power capacity around the world grew by 20.6%, according to a new report by energy intelligence provider GlobalData.
The new report suggests that the growth of major wind power markets in the US, Germany, Spain, India, Italy and France is expected to slow down during the coming years, but emerging markets within Asia-Pacific and South and Central America are expected to easily fill this void.
In the near future, the offshore wind power market is expected to boom, with mega wind power projects due to become operational. Offshore wind power development is mainly concentrated in Europe, which accounts for over 3.2 gigawatts (GW) of offshore wind power capacity. While offshore wind power only accounts for 1.5% of the total wind market at the moment, with large scale commercial offshore wind farms currently in the planning and construction phases, capacity is expected to reach 52.1 GW in 2020, representing 7.1% of the total market.
Related markets are also benefiting from the growing popularity of offshore wind power. For example, offshore wind turbine installation vessel revenue increased from an estimated $21.4m in 2006 to $161.2m in 2010, and is predicted to reach $2,156.5m by 2020. Vessels are crucial for the installation of large offshore wind foundations and turbines. Around 12 new second generation vessels are expected to be in European seas in 2012 and 2013 to cater to the growing offshore wind power installations.
Key Topics Covered:
1 List of Tables and Figures
2 Introduction
3 Offshore Wind Market, Global
4 Offshore Wind Vessels Market, Global
5 Offshore Wind Cables Market
6 Offshore Wind Foundation Market, Global
7 Appendix
For more information visit http://www.researchandmarkets.com/research/n9rqhd/vessels_cables_an
Source: GlobalData