5th June 2017
EP Desk

Transparency Market Research has released a new market report titled “Offshore Wind Energy Market, by Foundation Type (Monopile, Jacket, Tripod, Floating and Others) and by Country (China, Japan, South Korea, India and Rest of Asia Pacific) – Asia Pacific Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025.„

The Asia Pacific offshore wind energy market revenue was US$ 8,960.8 million in 2017 and is projected to reach $60,201.5 million by 2025 at a CAGR of 22.4% from 2017 to 2025, according to a new report.   

Wind power generation is the extraction of kinetic energy from the wind and its conversion into any useful type of energy such as thermal, mechanical, or electric energy.

Offshore wind power or offshore wind energy is the use of wind farms constructed offshore, usually on the continental shelf, to harvest wind energy to generate electricity.

Offshore wind energy’s counterpart, onshore wind has high land surface requirement, high noise generation, high cost incurred in project set up and the entire value chain (including turbine and its accessories cost, cabling cost, installation costs and others) of wind energy generation from assets based on land have led to shift of focus from onshore to offshore.