Latest Breaking News On - Offshore wind equipment market - Page 1 : comparemela.com

Share this article Share this article ResearchAndMarkets.com s offering. The global offshore wind market is expected to record a value of US$51.75 billion in 2024, increasing at a CAGR of 14.21%, for the duration spanning 2020-2024. The factors such as rising penetration of offshore wind power, growing electricity demand, improvement in capacity factor, rising renewable energy consumption and an escalating number of offshore wind farms would drive the growth of the market. However, the market growth would be challenged by foundations and transition piece challenges, development hurdles and environmental issues. A few notable trends may include decline in installation cost, increasing R&D spending on energy sector and the evolution of offshore wind turbines.

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