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Floating Windmills Market
A floating windmill is an offshore wind turbine set up on a buoyant structure that allows the turbine to produce electricity in depths below water where fixed-foundation turbines are not convenient. In countries with limited shallow water regions floating windmills have the potential to significantly increase the sea area available for offshore wind farms.
Floating windmills generate electricity which can be transmitted to nearby lands or used for artificial upwelling in fisheries, for supplying water desalination projects, and other offshore applications. Floating windmills can be relocated to any location on the sea without additional expenses. Floating foundations generally offer environmental benefits compared with fixed-bottom designs.
Either from spar-buoy platform, semi-submersible platform and tension leg platform can be used for mounting the floating windmills. Participation from policy makers, investors, researchers and industry is vital to the success of floating windmills market.
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Offshore wind technology has been identified as one of the leading technology options to decarbonize the energy system. They allow access to deep-water sites. In water deeper than 50 meters, they offer access to large areas having strong wind resource. For countries with a narrow submarine banks, floating wind turbine foundations offer the opportunity for large-scale offshore wind energy production.
Additionally, floating turbine foundations usually offer environmental benefits compared with fixed-bottom designs on account of less-intrusive activity on the ocean floor during installation. Owing to these reasons the implementation of offshore wind turbines is escalating, subsequently driving the surging demand for floating windmills.
Considering the uncertainty in the market, the factors restraining the floating windmills market are, the time needed to establish profitability is long and large capital costs requirement. However, the floating turbine foundations has the prospect of framing a much larger global market than fixed-bottom offshore turbines, due to the vast area of deep water with suitable wind resources. As a consequence some of the industries are set to implement floating turbines for their in-house energy generation.
Some countries of the developing economies such as UK, USA, etc. are focusing on establishing renewable, low-carbon, secure sources for energy generation. Floating wind turbines are gaining market share at a rapid pace in the renewable energy sector because of the advantages over onshore wind energy.
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Europe market anticipated to have dominant share in global floating windmills market by virtue of notable progress in offshore wind technological innovation and market cost reduction. However, some of the substantial markets, such as the United States and Japan, have few shallow-water sites desirable for offshore wind energy development. Floating windmills could be game changers in this regard.
Asian countries like China, Japan, India, Taiwan, Vietnam, South Korea, are expected to have substantial growth in market for coastal project development and have taken steps to stimulate domestic offshore wind industries driving the growth in floating windmills market. Asian supply chains could bestow a counterweight to European suppliers and increase competition within the industry. Asia-Pacific countries are likely to have prominent market share in global floating windmills market, owing to development in potential and planned capacity for offshore wind power.
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Some of the key participants in the global floating windmills market are:
The research report presents a comprehensive assessment of the Floating windmills market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to the Floating windmills market segments such as geographies, valve type, and vehicle type.
