The offshore wind market is projected to reach USD 56.8 billion by 2026 from an estimated USD 31.8 billion in 2021, at a CAGR of 12.3% during the forecast period.
Based on the components of offshore wind systems, the wind turbine market is estimated to be the fastest-growing market from 2019 to 2026. The segment includes nacelle, rotor blades, and tower. The development of the renewable market in Asia Pacific and North America is expected to drive the offshore wind industry significantly.
Read our report on The Future of Offshore Wind for 2022 and beyond
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