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Offshore Wind Energy Market Forecast to Reach $42 Billon by 2025
Ongoing Saturation of Sites Close to the Shore, Along With Growing Demand for High Operational Capacity Utilization Factor (CUF) for Offshore Projects Is Projected to Drive Industry Growth.
BriefingWire.com, 12/23/2020 -
The Offshore Wind Energy Market is forecast to reach $42billion by 2025, growing at a CAGR of 13.6% from 2020 to 2025. The offshore wind energy market is estimated to witness substantial growth over the forecast period primarily due to the growing demand for clean energy and rising focus on reducing carbon emissions. Offshore wind energy generation process is a renewable form of producing energy by taking advantage of the power of the wind that is produced on the high seas, where it moves at a much higher and more consistent speed than it does on land, due to absence of multiple barriers. Ongoing saturation of sites close to the shore, al ....

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