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Offshore Wind Energy Market Trends

Report ID: GMI229
Published Date: Aug 2024
Report Format: PDF

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Offshore Wind Energy Market Trends

Ongoing government subsidies, tax incentives, and other forms of support to promote offshore wind energy will influence the business statistics. For instance, the European Green Deal and various national renewable energy targets are driving the market growth. Increasing investment from private companies and financial institutions will contribute to the business scenario. In addition, international collaboration and regional cooperation can enhance the development of offshore wind energy through shared resources and best practices, strengthening the product demand.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of offshore wind energy crossed USD 73.70 billion in 2023 and is predicted to depict over 17.5% gains through 2032, fueled by strong investments in renewable energy sources and favorable regulatory policies.

The > 0 to <30 m depth segment is poised to rise more than 9% by 2032, driven by favorable regulatory policies and strong government investments.

The APAC market share is poised to increase by more than 12% by 2032, owing to rapid infrastructure expansion initiatives and rising demand for electricity.

Key participants operating in the industry include ENERCON GmbH, Bergey Windpower Co., JDR Cable Systems Ltd., Clipper Windpower, NKT A/S, Vattenfall AB, Northland Power, Inc., among others.