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Offshore Wind Energy Market Size to Cross $11,334 thousand by 2023

04-20-2020 06:44 PM CET | Energy & Environment

Press release from: Allied Market Research

Offshore Wind Energy Market Size to Cross $11,334 thousand

According to a new report published by Allied Market Research, titled, "Offshore Wind Energy Market: Global Opportunity Analysis and Industry Forecast, 2017-2023," the offshore wind energy market was valued at $2,727 thousand in 2016, and is projected to reach at $11,334 thousand by 2023, growing at a CAGR of 19.4% from 2017 to 2023.

Rise in the demand for electricity and preference toward the use of renewable sources of electricity present numerous opportunities for market expansion. Moreover, increase in investments by governments and usage of offshore wind energy as substitutes to reduce greenhouse emissions are further anticipated to boost the overall growth of the market.

Download Sample Report (PDF):https://www.alliedmarketresearch.com/request-sample/2215

Offshore wind energy is one of the most effective and robust sources of energy, which helps in the reduction of CO2 emissions and thus replace fossil fuels. Similar to land-based wind technologies, offshore wind makes use of wind turbines to generate electricity, which is delivered to the shore through an export cable. The main advantage of installing offshore wind energy is the consistent and stronger winds, which blow offshore allowing the use of larger horizontal turbine blades.

Top Major Market Players-
The major companies profiled in the report include Siemens Wind Power, Vestas Wind Systems A/S, Goldwind Science and Technology Co. Ltd., Gamesa Corporacion Technologica SA, GE Wind Energy, Sinovel Wind Group Co. Ltd., Dong Energy A/S, Suzlon Group, Nordex SE, and China Ming Yang Wind Power Group Limited.

Inquire for Purchase Report:https://www.alliedmarketresearch.com/purchase-enquiry/2215

Key Findings of the Offshore Wind Energy Market:
o North America is anticipated to grow at the highest CAGR during the analysis period.
o Europe is projected to maintain its lead position from 2017 to 2023, growing at a CAGR of 14.1%, in terms of capacity.
o UK accounted for almost one-third of the global market in 2016.
o China occupied around one-ninth share of the global offshore wind energy market in 2016.

In 2015, Europe accounted for the maximum share of the global market, in terms of volume, and is expected to continue this trend, owing to increase in urbanization, specifically in Denmark, Belgium, and the Netherlands. Moreover, rise in urban population with increased per capita disposable income and growth in overall demand for renewable energy sources drive growth of the European market.

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About Us:
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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