Offshore Wind Cable Market 2019| Insights and Forecast Research Report 2025

Global Market Insights recently introduced report on Offshore Wind Cable Market report is an in-depth study providing complete analysis of the industry for the period 2018 to 2024. It provides complete overview of the industry considering all the major industry trends, market dynamics and competitive scenario.

On-going offshore wind infrastructure investments across Europe:

Europe offshore wind cable market will observe significant gains on account of the enormous existence of offshore wind farms in the region. Government approaches to utilize the total offshore potential along with strict environmental codes to limit carbon footprint will significantly boost the regional offshore wind cable market size. Currently, Europe has 105 offshore wind farms having a total capacity of 18.5 GW spread across 11 countries of the region.

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Growing preferences for clean energy generation owing to the depleting fossil fuel reserves is anticipated to drive offshore wind cable market growth. As per GWEC, the global offshore wind installed capacity raised by 0.5% during 2017-2018. The fiscal term witnessed an increase of 5 GW up surging the total installed capacity to 23 GW.

Additionally, the declining component prices from government subsidies to promote clean offshore energy generation will enhance the industry outlook. The offshore wind cable market is slated to grow exponentially pertaining to some the key influencers stated underneath.

Land availability and favorable climatic factors:

The land availability for onshore wind projects is less as compared to offshore wind projects. In addition, human intervention across onshore wind farms is also more that has been favoring growth of offshore wind projects. Limitations of land availability and increasing human interventions across onshore wind farm across the globe are expected to support offshore wind cable business scenario over forecast timeframe.

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Moreover, the offshore wind farms provide numerous advantages over onshore sites. Wind speeds greatly influence the power generation process, even a slight increase in wind speed significantly amplifies the power generation. For instance, a wind turbine spun by 15 mph wind can yield almost double the energy produced from a turbine operating at 12 mph wind speed. The wind speeds at offshore locations are much higher and more constant as compared to the wind speeds of the onshore locations. These climatic factors are expected to lead toward increasing deployment of offshore winds farms, further boosting the offshore wind cable industry outlook.

On-going offshore wind infrastructure investments across Europe:

Europe offshore wind cable market will observe significant gains on account of the enormous existence of offshore wind farms in the region. Government approaches to utilize the total offshore potential along with strict environmental codes to limit carbon footprint will significantly boost the regional offshore wind cable market size. Currently, Europe has 105 offshore wind farms having a total capacity of 18.5 GW spread across 11 countries of the region.

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The UK alone hosts a massive offshore energy generating capacity of 8 gigawatts. The offshore wind farms lining the British coastlines complements UK’s growing energy needs. The strategic government-industry collaborations are likely to fulfil 30% of electricity needs in UK from offshore wind energy projects by 2030. The new offshore Sector Deal laid foundations to provide this huge boost to offshore wind capacity of the country.

Furthermore, UK recently announced the world’s biggest offshore wind farm project Hornsea-One, spread across a huge area of approximately 407 square kilometers located off the Yorkshire coastline.

The project is currently partially operational with 50 of its 174 turbines spinning. Once the deployment is over by 2020, Hornsea-One will have a generating capacity of 1.2 gigawatt breaking all records of any existing offshore wind farm.

Partial Table of Contents (ToC) of the report:

Chapter 4 Offshore Wind Cable Market, By Technology

4.1 Offshore wind cable market share by technology, 2018 & 2025

4.2 Inter-array

4.2.1 Global market from Inter-array, 2014 – 2025

4.2.2 Global market from Inter-array, by region, 2014 – 2025

4.2.3 11kV to 36kV

4.2.3.1 Global market from 11kV to 36kV, 2014 – 2025

4.2.3.2 Global market from 11kV to 36kV, by region, 2014 – 2025

4.2.4 37kV to 66kV

4.2.4.1 Global market from 37kV to 66kV, 2014 – 2025

4.2.4.2 Global market from 37kV to 66kV, by region, 2014 – 2025

4.3 Export

4.3.1 Global market from Export, 2014 – 2025

4.3.2 Global market from Export, by region, 2014 – 2025

Chapter 5 Offshore Wind Cable Market, By Conductor Material

5.1 Offshore wind cable market share by conductor material, 2018 & 2025

5.2 Aluminum

5.2.1 Global market from Aluminum, 2014 – 2025

5.2.2 Global market from Aluminum, by region, 2014 – 2025

5.3 Copper

5.3.1 Global market from Copper, 2014 – 2025

5.3.2 Global market from Copper, by region, 2014 – 2025

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Growing GHGs emission concerns:

The rapidly increasing energy demand has been resulting in high growth in energy-related greenhouse gas emissions. According to IEA, in 2018, CO2from energy-related project increased by 1.7% owing to the increased energy demand across the globe. The power sector accounted for almost two-thirds of emissions growth pertaining to the fossil fuels used in energy generation. Particularly, the increasing energy demand from major countries including China, India, and the United States accounted for 85% of the net increase in emissions.

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