Possible increase in Asia-Pacific clean energy market

Published onJanuary 16, 2020

Technological advancements such as increased-capacity wind turbines, floating wind turbines and 3D printing have brought down the overall cost of offshore wind power and opened new offshore locations that were previously inaccessible. These improvements are accelerating the adoption of wind power and driving the global offshore wind turbines market toward monumental growth. The scaling up of investments in the renewable energy sector through national, regional and international climate change-related policies has had an enormous effect on the offshore wind turbine market. A recent analysis by Frost & Sullivan predicts that the sector will grow at a CAGR of 22.5% between 2018 and 2025, with revenues slated to rise from $7.4 billion to $30.5 billion.

Source: https://www.scitecheuropa.eu/possible-increase-in-asia-pacific-clean-energy-market/99134/