Global Offshore Wind Energy Market is estimated to account for 188.35 GW by end of 2027, Says Coherent Market Insights (CMI)
March 12, 2021 09:45 ET | Source: CMI CMI Pune, INDIA
SEATTLE, March 12, 2021 (GLOBE NEWSWIRE) Offshore Wind Energy is one of the alternative energy sources that has been around for a while, but only in the last few years has it started to become very popular. Offshore Wind Energy reduces the countries dependence on foreign oil. It uses large amounts of power to move machinery and propel wind turbines to generate electricity. Offshore Wind Energy is generally used to produce electricity as well as to supply the energy needed for offshore operations such as drilling. It is produced by turbines which are mounted on the ocean floor, rather than on land. Moreover, it is a great alternative to wind-generated power, because it is much cleaner and produces less pollution
by Type (Gas Turbine Generator, Steam Turbine Generator, and Water Turbine Generator), Cooling System (Air-Cooled, Water-Cooled, and Hydrogen-Cooled), and End-User (Coal Power Plants, Gas Power Plants, Nuclear Power Plants, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 . As per the report, the global turbo generator industry was pegged at $10.4 billion in 2019, and is anticipated to reach $12.6 billion by 2027, growing at a CAGR of 3.1% from 2020 to 2027.
Major determinants of the market growth
Rise in need of continuous & stable power supply, rapid growth in gas power plants, and rapid urbanization & industrialization drive the growth of the global turbo generator market. However, implementation of strict government regulations toward environmental pollution and rapid development in the renewable energy sector hamper the growth. On the contrary, surge in investment in electrification of remote & rural areas is expected to create lucrative opportunit
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Global floating wind turbine market size to record 32.5% CAGR through 2027
The research report on ‘global floating wind turbine market’ consists of vital data regarding the growth stimulants, limitations & challenges, and other expansion prospects which are shaping the business dynamics over the period of 2020-2027.
Selbyville, Delaware, Feb. 08, 2021 (GLOBE NEWSWIRE) According to reliable estimations, global
floating wind turbine market had reached a valuation of USD 3.2 billion in the year 2019 and is expected to showcase a y-o-y growth rate of 32.5% between 2020 and 2027. This rapid expansion can be attributed to shifting preferences towards adopting renewable sources of energy, and surging investment for green energy development.