A new report by business research firm Global Market Insights has said the UK North Sea and Germany are currently leading the world in offshore wind energy.
According to the research firm, the global offshore wind market is set to top £53 billion by 2024.
The UK market share in the sector is considered to be around £7.1bn.
Two thirds of the world’s offshore wind projects have been installed off the UK and Germany.
However, the report added that despite the UK and Germany’s current top spot, China and the US will soon catch up.
Ankit Gupta, research manager for energy and power at Global Market Insights, said: “In the current scenario, wind energy is considered among the mature energy sources, since its first deployment in Denmark.
“The Global Wind Energy Council in 2016 claimed that the unconventional energy system will be led by wind. Subject to the fact, offshore wind industry has been gaining momentum, as to contribute majorly in achieving renewable energy targets across the globe.”
Orsted’s Hornsea Project One is considered to currently be the largest UK development under construction.
174 turbines are to be installed at the project, which is expected to become operational in 2020.
The energy company estimates the windfarm will be able to power over a million UK homes.
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