Press release
Offshore Wind Market worth $56800 Million by 2026
Offshore wind is a crucial pillar in energy mix together with onshore wind for regions such as Europe, Asia Pacific, and North America to achieve their goals pertaining to climate neutrality. Offshore wind turbines are increasingly being installed in Asia pacific and European region and are showing robust growth. Increasing global investments in renewable energy are likely to drive the offshore wind market.
The global offshore wind market was valued at USD 31800 million in 2022 and projected to reach USD 56800 million by 2026, at a CAGR of 12.3% during the forecast period.
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The emergence of offshore wind farms started with the necessity to reduce greenhouse gas emissions and increase the share of renewable energy in the total energy mix. With the globally increasing consumption of electricity, new technologies are expected to influence the production, transmission, distribution, and use of electricity. Conventional sources of electricity lead to climatic changes, environmental pollution, and other issues. Thus, the offshore wind market is gaining momentum, and there exists a lot of untapped potential in this market.
The turbines segment is expected to grow at the highest CAGR from 2021 to 2026.
The turbine segment accounted for the largest share of the offshore wind market, by component, in 2020. The turbine segment of Offshore Wind Market is further classified into three modules-nacelle, rotors and blades, and tower. Rotors and blades are most stressed part of the turbine and are responsible for catching the wind.
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Europe is expected to be the largest region in the offshore wind market
Europe accounted for the largest share of 57% of the offshore wind market amongst all regions in 2020. The European market is further segmented into UK, Germany, Denmark, Belgium, Netherlands, Sweden, Finland, Ireland, and Rest of Europe. The European region is home to several major offshore wind companies such as Siemens (Germany), Nordex SE (Germany), Vestas (Denmark), ABB (Switzerland) and many more. European region has been a pioneer in offshore wind technology and offshore wind farm development. The countries in the EU are primarily focusing on upgrading their aging electrical infrastructure, and governments of these countries are promoting power generation through renewable energy sources and are building networks, from generation to end-users, to allow for efficient power and energy trading.
The leading players in the Offshore Wind Market include General Electric (US), Vestas (Denmark), Siemens Gamesa (Spain), Goldwind (China), Shanghai Electric Wind Power Equipment Co. (China).
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Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
The global offshore wind market was valued at USD 31800 million in 2022 and projected to reach USD 56800 million by 2026, at a CAGR of 12.3% during the forecast period.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=253452593
The emergence of offshore wind farms started with the necessity to reduce greenhouse gas emissions and increase the share of renewable energy in the total energy mix. With the globally increasing consumption of electricity, new technologies are expected to influence the production, transmission, distribution, and use of electricity. Conventional sources of electricity lead to climatic changes, environmental pollution, and other issues. Thus, the offshore wind market is gaining momentum, and there exists a lot of untapped potential in this market.
The turbines segment is expected to grow at the highest CAGR from 2021 to 2026.
The turbine segment accounted for the largest share of the offshore wind market, by component, in 2020. The turbine segment of Offshore Wind Market is further classified into three modules-nacelle, rotors and blades, and tower. Rotors and blades are most stressed part of the turbine and are responsible for catching the wind.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=253452593
Europe is expected to be the largest region in the offshore wind market
Europe accounted for the largest share of 57% of the offshore wind market amongst all regions in 2020. The European market is further segmented into UK, Germany, Denmark, Belgium, Netherlands, Sweden, Finland, Ireland, and Rest of Europe. The European region is home to several major offshore wind companies such as Siemens (Germany), Nordex SE (Germany), Vestas (Denmark), ABB (Switzerland) and many more. European region has been a pioneer in offshore wind technology and offshore wind farm development. The countries in the EU are primarily focusing on upgrading their aging electrical infrastructure, and governments of these countries are promoting power generation through renewable energy sources and are building networks, from generation to end-users, to allow for efficient power and energy trading.
The leading players in the Offshore Wind Market include General Electric (US), Vestas (Denmark), Siemens Gamesa (Spain), Goldwind (China), Shanghai Electric Wind Power Equipment Co. (China).
Content Source: https://www.marketsandmarkets.com/PressReleases/offshore-wind.asp
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
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