Japan Floating Offshore Wind Power Market was valued at USD 0.5 Billion in 2022 and is projected to reach USD 1.9 Billion by 2030, growing at a CAGR of 18.3% from 2024 to 2030.
Japan is becoming a significant player in the floating offshore wind power market, a sector that has seen rapid advancements as part of the country’s ambitious renewable energy goals. With a vast coastline and favorable wind conditions, Japan is tapping into floating wind technology to harness offshore wind energy in deeper waters where traditional fixed-bottom turbines would not be feasible. In this evolving market, various industries, including energy providers and manufacturing sectors, are setting requirements that shape the direction of this technology.
The primary type of floating offshore wind technology utilized in Japan involves floating platforms that support wind turbines in deeper waters, far from shore. Unlike traditional turbines that are fixed to the ocean floor, floating turbines are anchored to the seabed via mooring lines. This method allows them to be placed in locations with high wind potential but insufficient depth for fixed turbines. As of recent reports, Japan is planning to install over 10 GW of floating offshore wind capacity by 2030, significantly increasing the sector’s size.
Industries involved in this market are especially interested in high-efficiency turbines that can operate in harsh marine environments. The demand for advanced materials like carbon fiber, which is used in the construction of floating platforms, is growing. Companies in the energy, construction, and materials sectors must collaborate to develop robust, lightweight structures to withstand oceanic conditions. There is also a significant demand for high-performance power electronics, which will be necessary for optimizing the electricity output from these turbines and integrating them into Japan’s power grid.
Another essential requirement from industries is the development of a reliable supply chain that can handle the large-scale deployment of floating turbines. Logistics and transportation systems are crucial for the timely delivery of massive turbine components to offshore locations. Furthermore, the market for services such as maintenance, repair, and operational monitoring is expected to expand as floating wind farms mature.
In addition to technological advancements, regulatory frameworks must evolve to facilitate the growth of floating offshore wind power. Japan’s government is actively supporting this by offering incentives and facilitating research into this promising energy source. As Japan strengthens its commitment to renewable energy, the floating offshore wind power market is likely to grow exponentially, with industries eagerly meeting the demand for sustainable and efficient power generation solutions.
The continued development of the floating offshore wind power market in Japan provides new opportunities for industries to innovate and collaborate on meeting energy needs. As the demand for sustainable energy grows, the integration of technologies and industries will be essential to ensuring Japan’s leadership in the renewable energy space.
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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
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. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. 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 Japan 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
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan 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. Japan Floating Offshore Wind Power Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Floating Offshore Wind Power Market, By Type
6. Japan Floating Offshore Wind Power Market, By Application
7. Japan Floating Offshore Wind Power Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan Floating Offshore Wind Power Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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