The global offshore wind-energy market is expected to grow at an annual rate of 12.1 percent, with industry revenue to increase from $33.52 billion in 2021 to $89.76 billion by 2030.
According to a new report published by Polaris Market Research, offshore farms generate more electricity in terms of capacity and are also less controversial than onshore wind farms. Offshore wind energy offers various advantages, such as generating renewable energy, eliminating greenhouse-gas emissions, and providing a domestic-energy source. Offshore wind power can be used in a variety of inshore water areas such as fjords, lakes, and sheltered coastal areas.
According to the report, the driving factors of the offshore wind-energy market include rising investments in the renewable-power sector by the government, as well as a number of multinational companies taking initiatives to reduce their carbon emissions to support a greener planet and sustainability.
Moreover, the rising nee