The Worldwide Offshore Wind Turbine Industry is Expected to Reach $28+ Billion by 2025
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The offshore wind turbine market is expected to grow at a compound annual growth rate of 17.19% over the forecast period to reach a market size of US$28.612 billion in 2025 from US$11.044 billion in 2019. Offshore Wind Turbine are the pivotal infrastructure in the wind renewable market. The turbines harness the wind energy and transform into the electricity. As per the offering, the offshore wind turbine market provides a plethora of services such as material expertise, welding solutions, coatings and resurfacing, design modelling of the wind turbine facility, installing sensors for regular monitoring and conducting inspections to the sites.
The Worldwide Offshore Wind Turbine Industry is Expected to Reach $28+ Billion by 2025
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Global Offshore Wind Energy Market is estimated to account for 188 35 GW by end of 2027, Says Coherent Market Insights (CMI)
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Global Offshore Wind Energy Market is estimated to account for 188.35 GW by end of 2027, Says Coherent Market Insights (CMI)
March 12, 2021 09:45 ET | Source: CMI CMI Pune, INDIA
SEATTLE, March 12, 2021 (GLOBE NEWSWIRE) Offshore Wind Energy is one of the alternative energy sources that has been around for a while, but only in the last few years has it started to become very popular. Offshore Wind Energy reduces the countries dependence on foreign oil. It uses large amounts of power to move machinery and propel wind turbines to generate electricity. Offshore Wind Energy is generally used to produce electricity as well as to supply the energy needed for offshore operations such as drilling. It is produced by turbines which are mounted on the ocean floor, rather than on land. Moreover, it is a great alternative to wind-generated power, because it is much cleaner and produces less pollution