The UK subsea sector has seen revenue from offshore wind work grow to £1.3bn currently from £770m in 2014, according to industry body Subsea UK.
The sector is expecting further growth from renewables with about one quarter of large companies anticipating growth of more than 20%, the organisation said in its latest review of business activity.
The growth in renewables comes despite an overall fall in revenue for the subsea industry to £7.5bn today from £8.9bn in 2014.
The fall is the result of the downturn in the oil and gas industry, Subsea UK said.
The sector still supports around 45,000 jobs in the UK, despite the downturn, compared with 53,000 three years ago.
Subsea UK chief executive Neil Gordon said: “The subsea sector appears to have weathered the storm by increasing exports and diversifying, particularly into offshore wind, where the skills and technology are eminently transferable.”
Image: reNEWS
