The Floating Offshore Wind Power Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Floating Offshore Wind Power Market?
The market size of the floating offshore wind power sector has experienced rapid growth in the past years. It is projected to expand from $1.21 billion in 2024 to $1.50 billion in 2025, with a compound annual growth rate (CAGR) of 23.4%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Floating Offshore Wind Power Industry?
In 2029, the floating offshore wind power global market is projected to reach $3.43 billion with a compound annual growth rate (CAGR) of 23.0%.
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What are the Key Growth Drivers Fueling the Floating Offshore Wind Power Market?
The key drivers in the floating offshore wind power market are:
• Growing demand for clean energy
• Advancements in floating platform stability and efficiency
• Increasing private and public investments in offshore wind farms
• Supportive regulatory frameworks for offshore wind development
Global Market Segmentation: Identifying Major Floating Offshore Wind Power Industry Segments
The floating offshore wind power market covered in this report is segmented –
1) By Component: Mooring Systems, Platforms, Subsea Cables, Turbines
2) By Technology: Floating Wind Turbine, Hydrodynamic Floating Structure, Other Technologies
3) By Water Depth: Shallow Water, Transitional Water, Deep Water
4) By Turbine Capacity: Up To 3 MW, 3 MW – 5 MW, Above 5 MW
5) By Application: Hydrogen Production, Off-Grid Power Generation, Utility-Scale Power Generation
Subsegments:
1) By Mooring Systems: Tension Leg Mooring, Catenary Mooring, Semi-Taut Mooring, Single Point Mooring, Spread Mooring, Dynamic Positioning Mooring
2) By Platforms: Spar-Buoy Platform, Semi-Submersible Platform, Tension Leg Platform (TLP), Barge Platform, Hybrid Floating Platform
3) By Subsea Cables: Inter-Array Cables, Export Cables, Dynamic Cables, HVAC (High Voltage Alternating Current) Cables, HVDC (High Voltage Direct Current) Cables
4) By Turbines: Horizontal-Axis Wind Turbines (HAWT), Vertical-Axis Wind Turbines (VAWT), Direct Drive Turbines, Gearbox-Based Turbines, Variable Speed Turbines
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What are the emerging Trends Shaping the Future of the Floating Offshore Wind Power Market?
The key trends in the floating offshore wind power market are:
• The integration of AI and IoT for wind farm optimization is an emerging trend.
• There is a clear trend towards the development of larger, more efficient floating turbines.
• The use of hybrid renewable energy systems is on the rise.
• Collaborations between energy firms and tech providers are increasing, as is the exploration of deeper and challenging waters for floating wind projects.
Who Are the Top Competitors & Leading Players in the Floating Offshore Wind Power Market?
Major players in the floating offshore wind power market are:
• Equinor ASA
• Iberdrola S.A.
• RWE
• Vestas Wind Systems A/S
• Doosan Corporation
• Siemens Gamesa
• Ørsted A/S
• Nexans SA
• TechnipFMC plc
• Nordex SE
• SBM Offshore
• MODEC Inc.
• Ming yang Smart Energy Group
• DNV AS
• Hitachi ABB
• Naval Energies
• Ocean Winds
• BW Ideol
• Gazelle Wind Power Limited
• Principle Power
Regional Dominance: Which Area Leads the Global Template Market?
Europe was the largest region in the floating offshore wind power market in 2024
