PUNE, India, November 23, 2022 (GLOBE NEWSWIRE) — The global floating size of the wind power market is expected to grow from US$0.68 billion in 2022 to US$15.64 billion by 2029, at a CAGR of 56.5% over the forecast period of 2022-2029. This information is provided by Fortune Business Insights in its report titled “Floating Wind Power Market, 2022-2029.”
According to our analysts, strong demand for floating wind turbines will complement the spread of advanced technologies and turnkey solutions. Of particular note, the green energy target bodes well for the industry as end-users have shown an increasing preference for floating offshore wind farms. In addition, investments in the commercialization of floating wind farms could encourage leading companies to increase their portfolios.
Request a sample copy of the research report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/floating-wind-power-market-101488
Report Highlights:
| report coverage | details |
| forecast period | 2022-2029 |
| Forecast period 2022 to 2029 CAGR | 56.5% |
| Value prognosis 2029 | $15.64 billion |
| base year | 2021 |
| Market size in 2021 | $0.29 billion |
| Historical data for | 2018-2020 |
| number of pages | 196 |
| segments covered | water depth, turbine capacity, land |
| growth accelerator | Increasing shift towards clean energy generation to drive growth |
| Increasing investment in sustainable energy development to fuel growth |
Effects of COVID-19
The drop in energy demand prompted governments to introduce robust policies
The ripple effect seen due to the COVID-19 pandemic hampered the market growth prospects. The coronavirus in particular led to a global slump in demand for electricity. According to the IEA, electricity demand is likely to fall by 5% in 2020. Meanwhile, robust government policies amid lockdown measures could drive a shift toward low-carbon power sources. Major countries have committed funds to clean energy amid the COVID-19 outbreak. Renewable energies could…
[ad_2]
Source story
