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Offshore Wind Market Share

ID: MRFR//2383-CR | 111 Pages | Author: Anshula Mandaokar| October 2020

As we witness economic growth, there's a pressing need to cut down on harmful emissions that contribute to climate change. While solar power and onshore wind have become more affordable and seen an increase in capacity, offshore wind stands out as a particularly reliable energy source, even though it currently has just 14 gigawatts of installed capacity.

The world is increasingly concerned about the connection between the Earth's rising average temperatures and the higher concentrations of human-made Greenhouse Gases (GHGs). This concern has led to long-term policies aimed at combating climate change. Among the various options for cleaner energy, offshore wind holds a strong position due to several factors. Firstly, there are large untapped wind resources in the open sea, and these projects can be developed on a large scale.

Offshore wind has an advantage because the winds over the open sea are stronger and more consistent, allowing for the production of more wind power compared to onshore locations. Additionally, offshore wind farms address the challenge of limited land availability for renewable energy projects. They also help save significant amounts of water by avoiding the massive evaporation that occurs during the cooling process at traditional power plants.

As onshore sites become more scarce, and the demand for electricity continues to rise, offshore wind becomes an increasingly attractive option. Governments and businesses are recognizing the benefits of this technology, and efforts are being made to reduce greenhouse gas emissions. These measures, combined with the growing need for electricity, are expected to significantly boost the size of the global offshore wind market.

In essence, as we strive for economic growth, it's crucial to adopt sustainable practices and reduce our impact on the environment. Offshore wind, with its potential for large-scale projects and abundant resources, emerges as a reliable solution. Not only does it provide a cleaner source of energy, but it also addresses challenges associated with land scarcity and water usage. As the world focuses on curbing emissions and meeting the rising demand for electricity, offshore wind is positioned to play a key role in shaping a greener and more sustainable energy future.

As we witness economic growth, there's a pressing need to cut down on harmful emissions that contribute to climate change. While solar power and onshore wind have become more affordable and seen an increase in capacity, offshore wind stands out as a particularly reliable energy source, even though it currently has just 14 gigawatts of installed capacity.

The world is increasingly concerned about the connection between the Earth's rising average temperatures and the higher concentrations of human-made Greenhouse Gases (GHGs). This concern has led to long-term policies aimed at combating climate change. Among the various options for cleaner energy, offshore wind holds a strong position due to several factors. Firstly, there are large untapped wind resources in the open sea, and these projects can be developed on a large scale.

Offshore wind has an advantage because the winds over the open sea are stronger and more consistent, allowing for the production of more wind power compared to onshore locations. Additionally, offshore wind farms address the challenge of limited land availability for renewable energy projects. They also help save significant amounts of water by avoiding the massive evaporation that occurs during the cooling process at traditional power plants.

As onshore sites become more scarce, and the demand for electricity continues to rise, offshore wind becomes an increasingly attractive option. Governments and businesses are recognizing the benefits of this technology, and efforts are being made to reduce greenhouse gas emissions. These measures, combined with the growing need for electricity, are expected to significantly boost the size of the global offshore wind market.

In essence, as we strive for economic growth, it's crucial to adopt sustainable practices and reduce our impact on the environment. Offshore wind, with its potential for large-scale projects and abundant resources, emerges as a reliable solution. Not only does it provide a cleaner source of energy, but it also addresses challenges associated with land scarcity and water usage. As the world focuses on curbing emissions and meeting the rising demand for electricity, offshore wind is positioned to play a key role in shaping a greener and more sustainable energy future.

Covered Aspects:

Report Attribute/Metric Details
Base Year For Estimation 2021
Historical Data 2018 & 2020
Forecast Period 2022-2030
Growth Rate 21.0% (2022-2030)
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