Product Code: ETC104387 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
The Indonesia marine wind turbine market is growing at a rapid rate due to the country?s strategic location and abundant natural resources. Indonesia has many offshore islands, archipelagos, and shallow waters that are ideal for developing marine wind power projects. The government of Indonesia has taken various initiatives to promote renewable energy sources including wind energy in order to reduce dependence on fossil fuels and meet its commitment towards emission reduction targets set by the Paris Agreement. Additionally, favorable regulatory policies adopted by the government have also encouraged investments in the marine winds sector.
With increasing awareness about sustainable development across all countries, demand for clean power generation is expected to increase. This is likely to boost investment opportunities in offshore wind turbine projects in Indonesia as developers explore new sites for harnessing alternative forms of energy from various untapped resources such as tidal or wave energy along with offshore turbine installations. Moreover, technological advancements are enabling cost-effective installation of turbines with better efficiency which will further drive up demand over the forecast period 2025-2031.. Furthermore, rising number of operational floating platforms will aid growth prospects during this time frame as well.
The main drivers for the Indonesia Marine Wind Turbine Market include supportive government policies encouraging adoption of renewable sources like wind power; improved technology resulting into efficient power generation through these turbines; high investments coming into green projects from foreign investors keen on exploring more sustainable options; potential locations suitable for installing off shore turbines identified near some major cities ;and lastly attractive returns generated from these systems over their lifetime owing to low running costs compared to traditional methods. All these factors combine together would help create a conducive environment resulting in higher uptake of marine based turbines going forward.
The outbreak of the COVID-19 pandemic has had a major impact on the Indonesia marine wind turbine market. The global economic slowdown, reduced investments in renewable energy projects, and lack of access to capital have all contributed to the decline in demand for marine wind turbines in Indonesia. Additionally, travel restrictions imposed by various governments have hindered international collaboration and business exchanges between companies within this industry.
Despite some recent progress made towards offshore wind power development such as establishing new regulations and policies related to renewable energy sources, there are still several challenges that impede further development of the Indonesia marine wind turbine market. These include limited infrastructure capacity, high installation costs due to lengthy approval processes from government agencies, obstacles posed by complicated environmental regulations and requirements from local communities affected by these developments.
Some key players operating in the Indonesia Marine Wind Turbine Market include PT Vestas Wind Systems A/S (Vestas), Siemens Gamesa Renewable Energy SA (SGRE), Nordex SE (Nordex Group), Senvion GmbH (Senvion) and Bergey Windpower Co., Ltd among others.