The global offshore wind market is on track to become a $170.3 billion industry by 2020, as government policies and technological advances spur development of more offshore wind farms, according to a report from consultants Roland Berger. Europe is projected to remain the leading market, while Asia Pacific and North America are expected to make significant gains, the report showed. Canada, the U.S. and Mexico are projected to have 500 megawatts of offshore wind capacity additions annually, the report stated.

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