Floating Offshore Wind Power Market Revenue was valued at USD 13.4 Billion in 2024 and is estimated to reach USD 29.2 Billion by 2033, growing at a CAGR of 9.3% from 2026 to 2033.
The global floating offshore wind power market was valued at approximately USD 3.8 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 22.5% from 2023 to 2030. This growth is attributed to increasing demand for clean energy, along with advancements in offshore wind technology and favorable government policies promoting renewable energy. Europe dominated the market in 2022, accounting for over 60% of the global market share, driven by countries such as the United Kingdom, France, and Norway, which are investing heavily in floating wind farm projects. North America and the Asia Pacific regions are expected to witness substantial growth over the forecast period, with Asia Pacific, in particular, showing high potential due to the regions large coastal areas and commitment to sustainable energy solutions.
In terms of regional opportunities, the Asia Pacific region is anticipated to exhibit the highest growth rate during the forecast period, primarily driven by increasing offshore wind power investments in countries like Japan and South Korea. North America, particularly the U.S. and Canada, is also emerging as a key player in the floating offshore wind market, with several government backed initiatives aimed at enhancing renewable energy capacity. The market in the Middle East and Africa is expected to remain relatively small in the short term but holds long term potential with evolving policies and an increased focus on renewable energy. The rising adoption of floating wind turbines in deep water locations, along with innovations in installation and maintenance techniques, is expected to open new growth avenues in these regions.
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Equinor
MHI Vestas Offshore Wind
Naval Energies
Principle Power
Mingyang Smart Energy Group
BW Ideol
Iberdrola
Doosan
General Electric
Hitachi ABB
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Floating Offshore Wind Power Market
Floating Wind Turbine
Hydrodynamic Floating Structure
Other Technologies
Floating Platforms
Wind Turbine Systems
Electrical Systems
Shallow Water
Deep Water
Utilities
Independent Power Producers (IPPs)
Government and Public Organizations
Offshore Power Generation
Power Supply for Remote Areas
Energy Storage Systems
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Floating Offshore Wind Power Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Floating Offshore Wind Power Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Floating Offshore Wind Power Market, By Type
6. Global Floating Offshore Wind Power Market, By Application
7. Global Floating Offshore Wind Power Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Floating Offshore Wind Power Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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