RCCN WeChat QrCode
Mobile WebSiteThe latest report released by the international market research agency Technavio shows that the global floating offshore wind power market will increase by 296.35 MW in 2020-2024, of which 80% will come from the growth of the European market.
Increased government support for floating wind power regulations is one of the main reasons for the growth of the floating wind power market in the next five years. The use of alternative energy sources such as wind energy, solar photovoltaics, and hydroelectric power generation is critical to the promotion of emission-free technologies. Globally, many governments have begun to provide funding for floating offshore wind energy demonstration projects. In particular, France, Norway, Portugal, Japan and the United States have supported offshore floating wind power projects through various industry cooperation and financing mechanisms, which will drive the growth of the global floating wind turbine market during the forecast period.
It is expected that during the forecast period, the compound annual growth rate of the floating wind turbine market will exceed 47%. However, according to the yearly analysis, it is expected that the market's growth momentum will slow down.
One of the main market trends expected to attract attention in the market is the increase in wind energy consumption. As people pay more and more attention to the use of renewable energy, the demand for wind turbine installations will increase significantly in the next few years.
Throughout the forecast period, Europe will become the world's largest floating offshore wind power regional market. As more and more floating wind turbine projects are established in several developed economies including the United Kingdom, France and Norway, the demand for floating wind turbines in the region will continue to grow.
From the perspective of the type of wind turbine, the model with rod buoys as the base will occupy the largest market share of floating wind turbines during the forecast period. However, the semi-submersible market segment will occupy the fastest growth rate in the market.
