Offshore Wind Market to grow with a high CAGR of 15.32% by 2022
The offshore wind market is expected to grow from an estimated USD 27,019.1 million in 2017 to USD 55,109.6 million by 2022, at a CAGR of 15.32% from 2017 to 2022.
The offshore wind market has been rapidly growing, especially in Europe as it contributed the European Union (EU) to meet its renewable energy targets for 2020. The market in Europe was estimated to be the largest market for offshore...
Electrical Digital Twin Market to Witness A Massive Growth of 15.4% by 2024
The global electrical digital twin market
is projected to reach USD 1,642 million by 2024 from an estimated USD 804
million in 2019, at a CAGR of 15.4%. This growth can be attributed to the
improved accuracy and efficiency in power sector operations, streamlined
integration of renewable energy technologies, and reduced unplanned downtime
and maintenance cost.
The asset performance
management is...
Rising Energy Demand Coupled with Increasing Share of Renewable Energy in the Power Generation Mix is driving the Offshore Wind Market
The global offshore wind market is projected to grow at a CAGR of 15.32% from 2017 to 2022. The growth of the offshore wind market is driven by increasing share of renewable energy in power generation, energy efficiency mandates demanding carbon emission reduction, and government incentives supporting renewable energy deployment. The global demand for electric power is increasing due to various factors...