+1-888-308-5802     
News Contact Us

North America Offshore Wind Energy Market share to amass significant gains by 2026

Author : Ronak Bora | Published Date : 2021-01-07 

The North American continent is witnessing massive challenges pertaining to clean and sustainable energy. In this scenario, tapping offshore wind energy concept is anticipated to offer a potential thrust to North America offshore wind energy market progression over the timeframe of 2020 to 2026.

The growth across this market predominantly comes from the introduction of stringent mandates and regulations laid down by the central as well state governments in wake of the increasing carbon emission levels in conjugation with rising number of offshore wind projects in the region. Not to mention, enhanced technological advancements in turbine assembly concepts have also propelled the business dynamics over the years, enabling North America offshore wind energy market to amass tremendous gains in the near future.

Request a sample of this research report @

https://graphicalmarketresearch.com/request/1271/sample

Below mentioned are some of the pivotal trends that are poised to transform the overall market outlook in the years to follow:

Escalated need for turbine components to generate offshore wind power

Components have a crucial role to play when considering the installation of offshore wind power projects. As per numerous reports, a component which is generally deemed to be a pivotal requirement for realizing such projects is the turbine assembly. In this case, it is noteworthy to mention that North America offshore wind energy market from turbine component sector would amass phenomenal gains, on the grounds of rising investments toward the development of advanced drive trains and new blade designs across the developed economies of the continent.

Deployment of advanced turbine assembly concepts paired with a prolific rise in research and development activities aimed at increasing the flexibility and efficiency of these units would also favor the business growth in the upcoming years.

Elaborating further, one of the most efficient turbine ratings which is being extensively used across a huge band of projects is >2 MW. Turbines rated at this efficiency are capable of producing relatively lower emissions, while boasting of compact equipment size and minimal moving parts- such parameters are estimated to enhance the product adoption across various economies of North America.

Increased floating installation

Offshore wind energy market size from floating installation is poised to grow on accounts of increasing investments toward offshore exploration and development activities, in line with ongoing efforts toward augmenting deep-water technologies.

Request for customization this report @

https://graphicalmarketresearch.com/request/1271/customize-this-report

What has been stimulating the market growth across this segment is the feasibility of installation vessels and standardization across foundation designs. Needless to mention, expanding demand for captivation of ultra-high speed wind resource potential would further elevate the product adoption.

Supportive government reforms amended across the United States

Diversified into vivid economies, North America offshore wind energy market is set to accrue potential gains from the United States, courtesy- introduction of favorable legislative regulations paired with stringent renewable energy targets by the central as well as state governments. Stating an incidence for the same, the Massachusetts state government, had in mid-2016, passed a mandate obligating state utilities to procure nearly 1600 megawatts of offshore wind power by the end of 2027. Besides, the state also passed a new legislation, similar to the one earlier rolled out, in 2018, increasing the target to 3200 megawatts by the end of 2035.

What more has augmented the use of offshore wind energy turbines across the States is rising awareness pertaining to environmental impact of traditional energy generation practices and reduced power generation costs.

The aforementioned trends are expected to undeniably impel the business statistics by the end of 2026, offering positive growth prospects to the North America offshore wind energy industry.

Browse key industry insights along with Full TOC @ 

https://graphicalmarketresearch.com/industry-insights/1271/asia-pacific-gene-editing-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

Related News

North America intelligent vending machine market to Dominate Worldwide by 2026

Published Date: 2021-01-16         Author: Ronak Bora

With leading enterprises including Walmart, Nespresso, CVS, and their ilk piloting intelligent vending machines at multiple and diverse venues, the North American customers have been reaping the benefits of this smart technology. Backed by the rapid approval for coffee vending machines and tea vendi... Read More

North America healthcare information technology market to gain traction by 2024

Published Date: 2021-01-16         Author: Ronak Bora

Although the chaos resulting from the COVID-19 pandemic has been a bolt from the blue, the healthcare information technology (IT) market has been making the most of the opportunities arising from the adversity. The market for healthcare IT in North America is a fertile ground for significant growth,... Read More

North America healthcare 3D printing market to record surpass USD 850 million by 2024

Published Date: 2021-01-16         Author: Ronak Bora

Considered as one of the most modern niche verticals of medical device manufacturing sector, the North America healthcare 3D printing market has gained significant prominence in recent years with the advent of innovative technologies. The transformational shift from conventional manufacturing proces... Read More

© 2021 Fractovia. All Rights Reserved