Offshore Wind Energy Market Research Report 2020-2027
Offshore wind energy refers to the utilization of wind farms constructed on water bodies (usually oceans) to produce electricity through wind energy harvesting. It generates higher amounts of electricity than onshore wind power, owing to the availability of higher wind speeds offshore. The global offshore wind energy market is predicted to reach a whopping USD 106.10 billion by 2027, demonstrating a tremendous CAGR of 15.2%.
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The Offshore wind energy market report is an investigative study encompassing industry insights along with crucial market data such as facts and figures, technological and product advancements, and analysis of key segments. The important data is gathered through rigorous primary and secondary research and the information is further validated and verified by industry experts and professionals. The report offers a panoramic view of the industry with a special focus on global and regional segments.
The key driving forces for the global offshore wind energy market growth include the burgeoning demand for electricity, surging adoption of renewable energy sources, such as solar and wind energies, the introduction of technologically upgraded offshore wind turbines, the growing use of floating wind turbines, increasing utilization of the AI technology, robotics, IoT, machine learning, and data analytics in the wind energy sector to help mitigate system failure risks, higher R&D investments, the greater supply of wind resources than onshore wind energy, and accelerated industrialization are the factors triggering the growth of this market to a significant extent. Moreover, governments are coming up with favorable regulatory policies to foster the adoption of sustainable energy sources and, therefore, cut down on greenhouse gas emissions, which creates ample market growth prospects.
Europe stands out as the frontrunner in the global offshore wind energy. The regional market growth is reinforced by the fast-paced urbanization across the developing APAC countries, snowballing demand for electricity, rising government focus on sustainable energy generation, and the presence of several leading market players in the region, including Siemens Gamesa Renewable Energy, Vestas, and Nexans.
Key Features of the Report:
- Holistic view of the Offshore wind energy market and key segments
- Examination and identification of the growth prospects, market drivers and trends, and potential opportunities
- Assessment and analysis of the micro and macro-economic factors
- Competitive landscape benchmarking
- Extensive regional analysis
- Product types and application spectrum segmentation and analysis
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