Published by Coherent Market Insights
Posted on October 4, 2021
4 min readLast updated: January 31, 2026
The Offshore Wind Energy market is poised for growth from 2020 to 2027, driven by increased demand for renewable energy and technological advancements.
Offshore wind energy is the technology used to generate electricity by wind using wind turbines constructed near the coastline of oceans and lakes. Offshore wind energy offers various advantages such as generation of energy from renewable sources. The energy is generated at higher speed on offshore as compared to onshore, which positively impacts the market growth.
The offshore wind energy market is driven by increasing demand for renewable sources in power generation. Increasing energy consumption and rise in environmental concerns regarding depletion of natural resources are major factors increasing demand for renewable sources in power generation. For instance, according to the Electronic Industries Alliance (EIA) organization, the total world energy consumption is expected to increase from 575 quadrillion British thermal units (Btu) in 2015, to 736 quadrillion Btu in 2040, which is an increase of 28%. Therefore, increasing energy consumption is propelling demand for renewable sources in power generation, in turn positively influencing growth of the offshore wind energy market.
A detailed report on Global Offshore Wind Energy providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027. The research study offers complete analysis of critical aspects of the global Offshore Wind Energy , including competition, segmentation, geographical progress, manufacturing cost analysis, and price structure. We have provided CAGR, value, volume, sales, production, revenue, and other estimations for the global as well as regional markets.
Top Key Players in Offshore Wind Energy market: MHI Vestas Offshore Wind, Siemens Gamesa Renewable Energy, S.A., J.J Cole Collections, Sinovel Wind Group Co., Ltd, Erndtebrücker Eisenwerk Gmbh & Co. Kg, Northland Power Inc., ABB Ltd., Ming Yang Smart Energy Group Limited, Adwen GmBH, General Electric Company, A2SEA A/S, Nexans and others
Regional Analysis For Offshore Wind Energy Market:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Offshore Wind Energy market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
North America is expected to witness lucrative market growth over the forecast period in the global offshore wind energy market. The growth is attributed to increasing demand for wind energy and rising investment in the wind energy sector in North America. The U.S. and Canada are major contributing economies in the wind energy sector. According to the U.S Department of Energy, around US$ 50 billion would be saved from the global damage of greenhouse gases by introducing offshore wind projects in the U.S.
Furthermore, the high presence of key players in North America is driving growth of the offshore wind energy market in this region. For instance, the turbine manufacturers such as Bergey Wind Power and Kelso Energy LTD is focused on updating its turbines with advanced technologies such as onboard sensors and advanced rotor with features of injection and compression moulding.
Significant Highlights of the Report:
The key questions answered in this report:
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The post Offshore Wind Energy market Anticipated To Grow At A Significant Pace By 2020 To 2027 appeared first on Gatorledger.
The article discusses the growth of the Offshore Wind Energy market from 2020 to 2027.
Offshore wind energy is important due to its efficiency and role in meeting renewable energy demands.
North America and Europe are leading regions in offshore wind energy market growth.
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