Global $69.38 Bn Offshore Wind Power Markets to 2025
April 28, 2021 05:38 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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The Global Offshore Wind Power Market is estimated to be USD 38.76 Bn in 2020 and is expected to reach USD 69.38 Bn by 2025, growing at a CAGR of 12.35%.
Market Dynamics
This growth is attributed to the increasing demand for clean energy in order to cut down carbon emissions and protect the environment by generating electricity through renewable resources. Offshore wind energy form an integral part of these clean energy resources and also has a higher capacity factor compared to onshore wind.
Operator
Good morning, and welcome to the AES Corporation Q1 2021 Financial Review Conference Call. [Operator Instructions]
I d now like to turn the conference over to Ahmed Pasha, Chief Treasurer and Vice President of Investor Relations. Thank you, and over to you.
Ahmed Pasha
Treasurer & Vice President, Investor Relations
Thank you, operator. Good morning, and welcome to our first quarter 2021 financial review call. Our press release, presentation and related financial information are available on our website at aes.com. Today, we will be making forward-looking statements during the call. There are many factors that may cause future results to differ materially from these statements, which are discussed in our most recent 10-K and 10-Q filed with the SEC. Reconciliations between GAAP and non-GAAP financial measures can also be found on our website along with the presentation. Joining me this morning are Andres Gluski, our President and Chief Executive Officer; Gustavo Pimen