The report "Offshore Wind Market by Component (Turbine, Substructure, and Electrical Infrastructure), Turbine Module, Substructure Type, Location (Shallow Water, Transitional Water, and Deep Water), and Region - Global Forecast to 2022", is expected to grow from an estimated USD 27.02 Billion in 2017 to USD 55.11 Billion by 2022, registering a CAGR of 15.32% from 2017 to 2022. The global market is witnessing a significant growth due to rising energy demand coupled with increasing share of renewables in the power generation mix, energy efficiency mandates demanding carbon emission reduction, and government incentives supporting renewable energy deployment.

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Target Audience:

Wind turbine manufacturers
Wind farm owners, operators, and developers
Substructure manufacturers
Electric utilities
Electrical infrastructure providers
Installation and logistics service providers
Cable manufacturers
Government agencies
Investors and financial community professionals
Transmission & distribution system operators
The 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.

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The report segments the offshore wind market on the basis of component such as turbine, substructure, and others (logistics and transportation, and assembly and installation).

Premium Insights

· Offshore Wind Market, By Component

· Offshore Wind Market, By Substructure

· The North American Market is Expected to Foresee Investments in the Renewable Energy

The leading players in the offshore wind market, namely, Siemens AG (Germany), ABB, Ltd. (Switzerland), MHI Vestas (Denmark), General Electric (U.S.), EEW Group (Germany), A2Sea (Denmark), and Nexans (France).

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