<p>The global market is witnessing a significant growth due to rising energy demand coupled with increasing share of renewables in the power generation mix, energy efficiency mandates demanding carbon emission reduction, and government incentives supporting renewable energy deployment.</p> <p>Among the three water depth location for offshore wind turbines, shallow water is expected to hold the largest share during the forecast period. The development of shallow water is generally cost effective due to better weather conditions, whereas, installing wind turbines in deep water becomes expensive due to high maintenance cost. However, offshore wind turbines are getting installed in all three water locations depending on the region, turbine capacity, and wind speed. Shallow water condition mostly prevails in the European countries due to favorable weather conditions. The major players that provide turbines which can be installed in shallow water&nbsp;includes&nbsp;Siemens AG (<span class="xn-location">Germany</span>) and MHI Vestas (<span class="xn-location">Denmark</span>) among others.</p>