Offshore wind cable market report

Offshore Wind Cable Market

The offshore wind cable market is expected to grow at a CAGR of close to 17 during 2017-2021, according to Technavio.

“The growth in the wind energy industry due to rising environmental concerns, increased demand for power, favorable government regulations, and the need to reduce dependence on fossil fuels will lead to the growth of the offshore wind cable market worldwide,” said Thanikachalam Chandrasekaran, a lead analyst at Technavio for power research.

Facts that are contributing to the growth of the global offshore wind cable market include growing offshore renewable energy installations, innovations in the wind industry and the introduction of vessels designed for offshore wind cable laying.