Offshore wind farm support vessel market to reach $3 Billion by 2020, report says

The offshore wind turbine and foundation installation vessel market is expected to register substantial growth between 2014 and 2020, according to a new market research report by Reportstack.

The UK government has announced tenders for 32.2 Gigawatts (GW) of offshore wind power, scheduled for completion by 2020, and the US envisions the production of around 54 GW of electricity from offshore wind, a target to be achieved by 2030. China produced 428.6 Megawatts (MW) from offshore wind in 2013 and under its 12th Five-Year Plan (2011-2015) announced targets of 5 GW by 2015 and 30 GW by 2020. Other European countries such as Germany, Denmark and Belgium also have offshore projects under construction.

The complete report on “Offshore Vessels and Cables Market – Market Size, Competitive Landscape and Key Country Analysis to 2020” is available at http://www.reportstack.com/product/185990/offshore-vessels-and-cables-market-market-size-competitive-landscape-and-key-country-analysis-to-2020.html

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