OFFSHORE WIND MARKET IS POISED TO GROW OVER USD 49,741.0 MILLION . offshore wind market_PDF. | Page 3

Offshore wind market Research Report- Forecast to 2023
2 Market Overview: -
Offshore Winds are steady and have faster speeds resulting in higher & reliable energy generation. The
growth in this sector is due to the increasing demand for clean and reliable energy to reduce the global
carbon emissions, and to maintain ecological balance by generating electricity through renewable
resources. However, high initial capital cost of projects with high maintenance cost and logistics issues,
can hinder the offshore wind market. The high tidal winds & bad weather conditions making offshore wind
farms difficult for access in the event of problem rectification and preventive maintenance, will restrain the
global offshore wind market.
Global offshore wind market has very broad market in coming recent years. MRFR analysts have predicted
that offshore wind industry is about to grow at a rapid pace. Moreover, the economic growth with emissions
reduction have given the growth, a momentum. The global offshore wind market is poised to grow over
USD 49,741.0 million by 2023 at an estimated CAGR of 11.12% through the forecast period..
Scope of the Report
This study provides an overview of the global offshore wind market, tracking two market segments
across four geographic regions. The report studies key players, providing a five-year annual trend
analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC)
and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities
for the next five years for each region. The scope of the study segments the global Offshore Wind market
by its component type, by location and by region.
By Component Type
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Turbine
Substructure
Electrical Infrastructure
Others
By Location
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Shallow Water (< 30m Depth)
Transitional Water (30m – 60m Depth)
Deep Water (> 60m Depth)
Market Research Analysis
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