Innovation in Turbine Capacity and Regulations to Impel the APAC Offshore Wind Turbine Market Until 2025

Innovation in Turbine Capacity and Regulations to Impel the APAC Offshore Wind Turbine Market Until 2025

  • December 2020 •
  • 62 pages •
  • Report ID: 6003984 •
  • Format: PDF
The study outlines the general outlook for the offshore wind turbine market until 2025. The analyzes segments, how government plans and regulations drive the market, how geopolitical chaos restrain growth, how competitive intensity is dynamic and is both disrupted and driven by technology, including the transformative Mega Trends across the Asia-Pacific, and the country-level market trend.

The study offers market size forecasts for each country, the country’s preferences and its challenges, and strategic information on what OEMs should invest in and develop. The research has identified the following market drivers and restraints.

Market Drivers:1.Government regulations and national project plans driving offshore wind turbine installations2.

Growing power demand pushing for offshore wind power supply3. Adoption of power purchase agreements (PPAs) influencing power producers to choose renewable energy4. Price drop in wind turbine prices powering demandMarket Restraints:1. Low affordability and lack of strong supply chain slowing down market adoption2. Slow adoption of clean energy resources in developing countries hindering offshore wind market growth3. COVID-19 causing project installation delaysThe research concludes that the biggest challenge to the market is the lack of commissioning projects in a timely manner. Asia-Pacific can lose projects valued hundreds of billions of dollars, regardless of the market drivers, trends, government plans, or market demands. Executing and commissioning projects have become a far more valuable aspect than mere planning and proposing projects.