The Global market of Offshore Wind Energy is projected to display a robust growth represented by a CAGR of 25.74% during 2016–2021

Date: 4 May 2017

Over the recent years, the Global offshore wind energy market has been growing rapidly as the total installed capacity have been witnessing rapid growth . Globally, the growth in the offshore wind energy market is driven by increasing demand of clean energy, larger coastal regions, abundant resource of energy and low cost from the other energy generation technologies. 

According to Azoth Analytics research report, “GlobalOffshore Wind Energy Market – Analysis By Region, By Country: Opportunities andForecast (2016-2021)", global market is projected to display a robust growth represented by a CAGR of  25.74% during 2016 – 2021, chiefly driven by increasing demand of clean energy, governments regulatory frameworks and advancements in  new technologies. 

Offshore Wind Energy market is booming around the world as the demand of clean energy is increasing with the increase in CO2 emission in the atmosphere during energy generation from coal and nuclear plants . With the growing population and urbanization both in developed and developing countries, the energy usage is increasing, and in order to provide cost efficient energy , offshore wind energy plays a important role. The installation cost is high but the cost of energy once the farm is install is low then other energy generation technologies.

According to World Energy Outlook 2016, by International Energy Agency, the share of renewable energy to reach 37%, growth in the demand of natural gas to 50% and 150 millions of electric vehicles on road till 2040, has led to a tremendous growth in the smart meter market. 

Among the regions, Europe remains the largest market in terms of total install capacity , while Europe region is expected to be the fastest growing region, owing to the  highest installed capacity across the world . Key markets in U.K. ,Germany and China will continue to rise considering the government initiatives and  new technology advancements. 

The “GlobalOffshore Wind Energy Market – Analysis By Region, By Country: Opportunities andForecast (2016-2021)", has analysed the potential of Global offshore Wind Energy market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global offshore wind energy market. 

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