Offshore Wind Energy Market to Surpass USD 57.2 Billion by 2022: Zion Market Research

New York, NY, Feb. 14, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Offshore Wind Energy Market (By Foundation Type: Monopile, Jacket, Tripod, and Floating; and By Water Depth: Shallow Water and Deep Water): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global offshore wind energy market was valued at USD 20.3 billion in 2016 and is expected to reach USD 57.2 billion in 2022, growing at a CAGR of 16.2% between 2017 and 2022.    

Wind power generation is the harnessing of kinetic energy from the wind and its conversion into electric energy. This is achieved through the utilization of wind turbines to generate electricity. Energy in the wind turns three propeller-like blades around a rotor. The rotor is connected to the main shaft, which spins the generator to produce electricity. Onshore wind energy has been utilized for many years however, offshore wind energy is a relatively newer phenomenon. 

Browse through 15 Tables & 44 Figures spread over 120 Pages and in-depth TOC on “Offshore Wind Energy Market (By Foundation Type: Monopile, Jacket, Tripod, and Floating; and By Water Depth: Shallow Water and Deep Water): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”.

Request Free Sample copy of Global Offshore Wind Energy Market Report @ https://www.zionmarketresearch.com/sample/offshore-wind-energy-market

A large number of offshore wind energy projects are under planning and construction phase. Advantages of offshore wind energy installations include an overall reduction in project capital expenditure and unhindered primary fuel (wind) required for energy generation since wind speeds are high at offshore than onshore.

Growing share of renewable energy is expected to drive the global offshore wind energy market. Increasing awareness about climate change and technological development are expected to further boost the market. However, high costs, risks, and supply chain bottlenecks related to offshore wind energy projects are expected to hamper the growth of the market.

Browse the full ” Offshore Wind Energy Market (By Foundation Type: Monopile, Jacket, Tripod, and Floating; and By Water Depth: Shallow Water and Deep Water): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022 ” report at  https://www.zionmarketresearch.com/report/offshore-wind-energy-market

Global wind energy market is segmented on the …

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