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Report Description

Report Description

Forecast Period

2026-2030

Market Size (2024)

USD 4.27 Billion

Market Size (2030)

USD 13.29 Billion

CAGR (2025-2030)

20.65%

Fastest Growing Segment

Transitional Water (30 M To 60 M Depth)

Largest Market

North America

Market Overview

Global Floating Offshore Wind Power Market was valued at USD 4.27 Billion in 2024 and is expected to reach USD 13.29 Billion by 2030 with a CAGR of 20.65%. The Floating Offshore Wind Power Market refers to the segment of the renewable energy industry focused on the development, deployment, and operation of wind turbines mounted on floating structures, enabling the harnessing of wind energy in deep-water locations where traditional fixed-bottom foundations are not feasible. This market encompasses the entire value chain, including floating platform designers, turbine manufacturers, subsea cable and mooring system providers, energy developers, and service operators. Unlike fixed offshore wind turbines which are limited to shallow waters, floating offshore wind technology allows access to high-wind-potential areas in deeper seas—typically beyond 60 meters in depth—thus significantly expanding the geographic and resource potential for wind energy generation. The floating offshore wind sector is gaining momentum due to its ability to mitigate land constraints, reduce visual and noise impact concerns near coastlines, and tap into stronger and more consistent wind currents found farther from shore.

Key Market Drivers

Increasing Global Demand for Renewable Energy and Net-Zero Commitments

One of the most significant drivers of the Floating Offshore Wind Power Market is the growing global demand for renewable energy, underpinned by national and international commitments to achieve net-zero carbon emissions. As climate change concerns escalate, governments worldwide are implementing ambitious targets to reduce dependency on fossil fuels, with offshore wind emerging as a crucial pillar in the transition to clean energy. Floating wind technology, in particular, opens up access to deepwater sites previously unreachable by fixed-bottom turbines, greatly expanding the global wind energy resource potential. Countries with deep coastal waters, such as Japan, South Korea, Norway, the United States, and the United Kingdom, are especially well-positioned to benefit from floating offshore wind solutions. Many of these governments have introduced favorable regulatory frameworks, financial incentives, and auction schemes aimed at accelerating deployment.

In Europe, for instance, the European Commission has set a target of 300 GW of offshore wind capacity by 2050, with floating wind expected to play a major role in reaching that milestone. Similarly, in the United States, initiatives under the Biden administration, including the leasing of federal waters and infrastructure investment, are catalyzing growth. The scalability of floating offshore wind also supports large-scale utility projects that can feed into national grids, enabling countries to meet growing electricity demand while decarbonizing their energy mix. Furthermore, corporate power purchase agreements (PPAs) with large-scale renewable projects are gaining momentum, with companies seeking to align with environmental, social, and governance (ESG) goals. These developments are accelerating investments in floating offshore wind as a viable, long-term solution for utility-scale renewable energy generation. The convergence of environmental policy, market demand, and technology readiness is creating a strong foundation for sustained market growth. Global renewable energy capacity has been growing steadily, with total renewable power capacity reaching over 3,700 gigawatts (GW) by the end of 2023, a nearly 10% increase compared to the previous year. Renewables accounted for nearly 30% of the world’s electricity generation in 2023, with solar and wind contributing the largest shares among the new installations.

Technological Advancements in Floating Wind Platforms and Turbine Design

Rapid technological advancements in floating platform designs and turbine engineering are driving significant momentum in the floating offshore wind power market. Innovations in semi-submersible, spar-buoy, tension-leg, and barge-type floating structures are enabling safe and cost-effective deployment of wind turbines in deepwater locations, far from shorelines where wind resources are stronger and more consistent. These advances allow turbines to be positioned in waters exceeding 60 meters in depth, significantly increasing the number of viable offshore wind sites. Simultaneously, improvements in turbine design—including larger rotor diameters, higher capacity factors, and lighter materials—are enhancing power output and operational efficiency. For example, next-generation turbines in the 15–20 MW range are being developed and tested, offering the potential to increase electricity generation while reducing the levelized cost of energy (LCOE).

Digital technologies such as AI, IoT sensors, and predictive maintenance systems are also being integrated into floating wind platforms, enabling real-time performance monitoring, enhanced safety, and longer operational lifespans. Moreover, modular and standardized platform designs are facilitating scalable manufacturing, transportation, and assembly, thereby shortening project timelines and lowering costs. Several pilot and pre-commercial floating wind farms, such as Hywind Scotland by Equinor and Kincardine by Principle Power, have successfully demonstrated the commercial viability of floating wind. These projects are now informing the design and deployment of larger, utility-scale installations. With industry-wide efforts focused on innovation, cost reduction, and standardization, floating offshore wind technology is rapidly maturing, driving its competitiveness against traditional energy sources and solidifying its role in the global renewable energy landscape.

 Expanding Deepwater Wind Resource Potential and Energy Security Objectives

Another powerful driver of the Floating Offshore Wind Power Market is the ability to harness untapped wind resources in deepwater regions, which is increasingly viewed as a strategic asset for enhancing national energy security. Unlike fixed-bottom offshore wind, which is limited to shallow waters typically less than 60 meters deep, floating wind systems can be deployed far offshore in much deeper locations, unlocking vast energy potential in previously inaccessible areas. This geographic flexibility is particularly valuable for island nations and countries with narrow continental shelves, such as Japan, the Philippines, and much of the U.S. West Coast, where traditional offshore wind solutions are not feasible. Floating wind farms also face fewer constraints related to visual impact, fishing zones, and shipping routes, making permitting and public acceptance less challenging. From an energy security perspective, floating offshore wind reduces dependency on imported fossil fuels and enhances grid stability through diversified, domestically generated renewable energy.

This is particularly critical amid global energy supply disruptions, price volatility, and geopolitical tensions. By investing in floating wind infrastructure, nations can strengthen their energy independence while contributing to decarbonization goals. Additionally, floating offshore wind can be strategically co-located with hydrogen production facilities, allowing countries to develop integrated clean energy hubs for green hydrogen export, particularly in regions with high wind intensity and limited land space. Ports and coastal industrial zones are also expected to benefit from supply chain development, shipbuilding, maintenance services, and job creation tied to floating wind deployment. As governments and industries increasingly prioritize secure, sustainable, and locally generated energy, floating offshore wind is emerging as a key solution to meet long-term power needs while enhancing economic resilience and environmental performance. Deepwater (floating) offshore wind technology opens access to over 80% of global offshore wind resources, which are located in waters deeper than 60 meters—areas previously inaccessible with fixed-bottom turbines. The global technical potential for deepwater wind exceeds 15,000 gigawatts (GW), enough to meet the world's electricity demand several times over, according to estimates from the International Energy Agency (IEA).


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Key Market Challenges

High Capital Expenditure and Cost Uncertainty

One of the most significant challenges facing the floating offshore wind power market is the exceptionally high capital expenditure (CAPEX) associated with project development, construction, and deployment. Unlike fixed-bottom offshore wind farms that are often located in relatively shallow waters, floating wind installations are situated in deeper seas, which necessitates complex engineering, advanced mooring systems, and floating substructures capable of withstanding harsh marine environments.

These technical requirements result in substantially higher costs for materials, logistics, and installation. Additionally, the technology is still in a nascent phase compared to fixed-bottom offshore wind, which means that economies of scale and widespread cost optimization have yet to be realized. The high upfront investment required can be a barrier for new market entrants, especially in regions where government subsidies or incentives are limited or inconsistent. Compounding this issue is the long payback period, as floating wind farms may take several years before they become economically viable, deterring private investors who seek quicker returns. Furthermore, the lack of standardized floating platform designs contributes to cost uncertainty. Multiple prototypes—such as spar-buoy, semi-submersible, and tension leg platforms—are still being tested, each with distinct structural and economic implications.

This lack of uniformity not only escalates engineering and manufacturing costs but also makes it harder for developers to predict project budgets accurately. In addition, fluctuating material costs, especially for steel and specialized cables, pose risks to financial forecasting and contract negotiation. Grid connection and transmission infrastructure further add to the financial burden, as floating wind farms are typically located far from shore, requiring significant investment in undersea cables and substations. In emerging markets, underdeveloped port infrastructure and a shortage of vessels equipped to handle floating platforms can increase logistics and transportation costs.

Insurance premiums are also notably higher due to the perceived operational risks and limited track record of floating wind installations. As the industry seeks to transition from pilot projects to commercial-scale operations, these capital and cost-related challenges must be mitigated through coordinated efforts, including government policy support, public-private partnerships, and continued R&D to streamline design and reduce cost components.

Regulatory Complexity and Permitting Delays

Another pressing challenge in the floating offshore wind power market is the complexity of regulatory frameworks and the protracted permitting processes that hinder timely project development. Floating wind farms often require multiple layers of approvals and coordination between various governmental and regulatory bodies, which can significantly delay project timelines. Unlike land-based or even fixed-bottom offshore wind projects, floating wind farms operate in deeper and often more contested marine zones that may overlap with fisheries, maritime transport routes, military zones, and marine protected areas.

As a result, developers must conduct extensive environmental and socio-economic impact assessments, navigate conflicting stakeholder interests, and adhere to a wide array of local, national, and international regulations. In some jurisdictions, the lack of a dedicated permitting process for floating wind projects further complicates matters, as existing frameworks are often tailored to fixed-bottom technologies and do not adequately address the unique characteristics of floating structures. Moreover, regulatory bodies may lack the technical expertise or resources needed to evaluate novel floating technologies effectively, leading to prolonged review cycles and uncertainty in decision-making. Public opposition can also contribute to delays, particularly when local communities or interest groups raise concerns about visual impact, disruption to marine ecosystems, or the long-term environmental footprint of floating wind installations.

Legal challenges and appeals can stall projects even after initial approvals have been granted. In cross-border projects, such as those located in international waters or involving shared grid infrastructure, coordination between different countries' regulatory authorities adds another layer of complexity. The absence of harmonized standards and best practices across regions further exacerbates these issues, making it difficult for developers to replicate successful models in new markets. Regulatory uncertainty can also impact financing, as investors may be reluctant to commit funds to projects with ambiguous or shifting compliance requirements.

To overcome these hurdles, there is a need for streamlined permitting processes, the development of clear and consistent regulatory frameworks specific to floating wind technology, and enhanced inter-agency collaboration. Policymakers must also engage proactively with industry stakeholders and local communities to build trust, address concerns early in the planning stages, and create a more predictable and supportive regulatory environment conducive to long-term investment.

Key Market Trends

Increasing Investments and Government Support for Floating Wind Projects

The floating offshore wind power market is experiencing robust growth fueled by a surge in government initiatives and private investments aimed at accelerating the energy transition. Governments in regions such as Europe, Asia-Pacific, and North America are increasingly recognizing floating wind as a critical solution for achieving net-zero targets, particularly in areas with deep waters where fixed-bottom turbines are unfeasible. For instance, the European Union has set a target of 60 GW of offshore wind capacity by 2030, with a significant portion expected to come from floating installations. Countries like the United Kingdom, France, Norway, and Japan are spearheading demonstration projects and offering financial incentives, including Contracts for Difference (CfDs), feed-in tariffs, and research funding to encourage innovation and commercial deployment.

These policies are complemented by strategic partnerships between public and private sectors, such as Equinor’s collaboration with the Norwegian government on Hywind Tampen or the U.S. Department of Energy’s support for the California offshore leasing program. Simultaneously, private investors and multinational energy firms are increasing capital flow into floating wind startups and infrastructure development.

Venture capital and corporate funding for floating offshore technology developers, such as Principle Power and BW Ideol, have reached new highs. Investment is also expanding to include port infrastructure upgrades and supply chain localization to support large-scale floating wind deployment. Furthermore, joint ventures and consortia involving oil & gas giants transitioning toward renewables, such as TotalEnergies, Shell, and BP, highlight the growing strategic interest in the sector. The combination of favorable government policies, financial backing, and industry collaboration is creating a conducive environment for floating wind innovation and commercialization, ultimately driving rapid market expansion.

Technological Advancements in Turbine and Floating Platform Design

A key trend shaping the floating offshore wind power market is the rapid advancement in turbine technology and floating platform design, which is significantly improving the commercial viability of floating wind solutions. As demand grows for renewable energy deployment in deepwater locations, engineering innovations are addressing previous limitations in scalability, stability, and cost. One major development is the creation of next-generation floating platform structures such as semi-submersibles, tension-leg platforms, and spar buoys that can accommodate larger turbines and withstand harsh marine conditions. Companies like Principle Power (with its WindFloat technology) and Stiesdal Offshore (with its TetraSpar concept) are leading this innovation wave, offering modular, scalable, and lower-cost floating foundations that simplify transportation and installation.

Moreover, turbine manufacturers such as Siemens Gamesa, GE Renewable Energy, and Vestas are designing larger and more efficient wind turbines—some exceeding 15 MW capacity—with improved blade aerodynamics and digital monitoring systems to enhance energy output and reduce maintenance needs. Coupled with digital twin technology, AI-powered predictive maintenance, and real-time monitoring platforms, these advancements are significantly lowering the levelized cost of electricity (LCOE) from floating wind. Additionally, the integration of hybrid systems that combine floating wind with energy storage solutions or green hydrogen production is emerging as a potential game-changer, enabling stable and dispatchable renewable energy supply. The continued innovation in floating wind technology is reducing technical risks and increasing investor confidence, making the market more attractive for large-scale deployment.

Expansion into Emerging Deepwater Markets and Global Deployment

The floating offshore wind power market is witnessing a global expansion, moving beyond early adopter countries into emerging deepwater regions with significant wind resources. While Europe remains the epicenter of innovation and deployment—with key projects in the UK, France, Norway, and Portugal—the technology is now gaining traction in Asia-Pacific and the Americas. In Asia-Pacific, countries like Japan and South Korea are investing heavily in floating offshore wind due to their limited shallow-water resources and high coastal energy demand. Japan has launched multiple demonstration projects and intends to install 10 GW of offshore wind capacity by 2030, including floating installations. South Korea has unveiled the ambitious Ulsan floating wind project, expected to become one of the largest globally. Meanwhile, in China, state-owned enterprises are partnering with foreign technology firms to deploy pilot floating farms, signaling long-term strategic interest.

In North America, the U.S. Department of the Interior has identified floating wind as essential for its offshore wind roadmap, with plans to lease over 4.5 GW of capacity off the coasts of California and Oregon. Latin America is also entering the scene, with Brazil evaluating its potential for floating wind development in its deep continental shelves. This global push is fueled by favorable policy frameworks, expanding leasing activity, and growing awareness of floating wind’s role in decarbonizing island grids, oil and gas platforms, and remote communities. The ongoing global deployment not only diversifies the floating wind market geographically but also builds a broader knowledge base, enhances cross-border collaboration, and accelerates economies of scale—all of which contribute to faster technology maturation and lower project costs worldwide.

Segmental Insights

Water Depth Insights

The Shallow Water (Less Than 30 M Depth) segment held the largest Market share in 2024. A significant market driver for the Floating Offshore Wind Power Market in shallow water (less than 30 meters depth) is the growing need to overcome spatial constraints associated with fixed-bottom wind technology and capitalize on nearshore wind resources while minimizing environmental and visual impacts. Although fixed-bottom turbines have traditionally dominated shallow water installations due to their structural simplicity and cost-efficiency, several challenges—such as seabed conditions, restricted port proximity, and community opposition due to visibility—are prompting developers to explore floating alternatives, even in depths traditionally considered suitable for bottom-fixed foundations. Floating wind turbines offer enhanced flexibility in site selection, allowing developers to situate projects farther offshore, even within shallow depths, thus reducing conflicts with fishing zones, shipping lanes, and coastal aesthetics.

This flexibility is particularly advantageous in countries with congested coastlines or environmental preservation areas, where nearshore development is either restricted or politically sensitive. Additionally, in some shallow water regions, complex seabed geology—such as soft sediments, rocky substrates, or high seismic activity—can make the installation of fixed-bottom foundations technically challenging or economically unfeasible, thereby increasing the appeal of floating structures. Floating wind solutions eliminate the need for heavy seabed anchoring and pile driving, thereby reducing ecological disruption and accelerating project timelines. Moreover, the maturity of floating platform technologies, including semi-submersible and barge-type designs, enables effective deployment in depths as low as 25 to 30 meters while maintaining system stability and energy efficiency. These innovations are supported by standardized modular platforms that are towable from onshore assembly yards, thus reducing offshore construction costs. Furthermore, floating turbines in shallow waters benefit from shorter transmission distances to onshore substations, resulting in lower cable costs and power losses. This combination of logistical, technical, and environmental benefits is attracting increased investments and public policy support.

Governments and regulatory bodies are beginning to include floating projects in shallow water zones as part of their strategic offshore wind roadmaps, offering incentives and streamlined permitting processes. For instance, early-stage floating projects in southern Europe and parts of Asia are being planned in near-coastal waters under 30 meters deep due to these advantages. The integration of floating platforms in shallow waters also enables hybrid developments that combine floating wind with aquaculture or wave energy, unlocking new revenue streams and enhancing overall site utilization. As a result, the demand for flexible, environmentally considerate, and spatially efficient energy infrastructure is propelling the adoption of floating offshore wind technologies in shallow waters—contributing to the diversification and resilience of global offshore wind portfolios. This trend is expected to accelerate as floating wind achieves further cost reductions, standardization, and supply chain scalability, solidifying its role not only in deep-sea deployment but also as a strategic complement to fixed-bottom solutions in shallower regions.


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Regional Insights

Largest Region 

North America region held the largest market share in 2024. A key market driver for the Floating Offshore Wind Power Market in the North America region is the increasing governmental and regulatory support aimed at accelerating the transition to clean energy, particularly through unlocking deepwater offshore wind potential. The United States, with its vast coastal regions and strong wind resources, has recognized floating offshore wind as a strategic solution to decarbonize its energy mix while overcoming the limitations of fixed-bottom turbines in deeper waters. The Biden Administration’s target of deploying 15 GW of floating offshore wind by 2035, announced in 2022, serves as a major catalyst, supported by comprehensive federal action plans and investment incentives.

The Department of the Interior, through the Bureau of Ocean Energy Management (BOEM), has initiated lease auctions specifically for floating offshore wind projects, such as those held off the coasts of California and Oregon, signaling a long-term commitment to developing this market. The Pacific Coast, in particular, represents a high-potential zone due to its deep waters, consistent wind speeds, and proximity to energy-hungry states like California. Moreover, the Inflation Reduction Act (IRA) of 2022 has introduced significant tax credits for renewable energy projects, including floating offshore wind, enhancing the financial feasibility of these capital-intensive developments. These incentives include the Investment Tax Credit (ITC) and Production Tax Credit (PTC), with added bonuses for projects meeting domestic content and labor standards, further aligning federal clean energy goals with workforce development. Additionally, several U.S. states, including California, Oregon, and Maine, have unveiled their own offshore wind deployment goals and supply chain initiatives, supporting localized development and job creation.

Parallel to policy momentum, public-private partnerships are increasing, with companies like Equinor, Shell, TotalEnergies, and Ocean Winds forming joint ventures and consortia with local utilities and developers to build floating wind projects and related infrastructure. The U.S. is also investing in port and transmission infrastructure upgrades to facilitate the assembly, launch, and grid integration of floating turbines. Research institutions and national laboratories are contributing through innovation hubs and pilot testing, such as the California Energy Commission's support for pre-commercial demonstration projects. Technological progress in floating platform design, digital monitoring, and turbine efficiency—largely led by European developers but increasingly adopted in North America—is further reducing cost barriers and operational risks. Overall, the confluence of strong government backing, favorable policy and fiscal frameworks, cross-sector partnerships, and technological readiness is creating a highly supportive environment for the growth of the floating offshore wind power market in North America. This momentum positions the region as a key emerging player in the global floating wind industry, with the potential to significantly expand renewable capacity, drive economic growth, and support long-term climate goals.

Emerging region:

South America is the emerging region in Floating Offshore Wind Power Market. A key market driver for the Floating Offshore Wind Power Market in the emerging South American region is the growing demand for clean, reliable energy amid favorable wind resources and deepwater coastlines that make traditional fixed-bottom offshore turbines impractical. Countries like Brazil, Chile, and Colombia are actively exploring floating offshore wind as a strategic solution to meet national decarbonization goals and diversify their energy mix. Brazil, in particular, stands out with its extensive Atlantic coastline, high wind speeds, and deep continental shelf, making it an ideal candidate for floating wind deployment. The Brazilian government has shown proactive interest by streamlining offshore wind regulatory frameworks and granting preliminary licenses to major energy companies, including Equinor, Shell, and Petrobras, for feasibility assessments of floating wind projects totaling several gigawatts.

These developments are underpinned by Brazil's push to achieve net-zero emissions by 2050 and reduce reliance on hydropower, which has been affected by droughts in recent years. Similarly, Chile’s decarbonization roadmap includes exploring floating wind to complement its strong solar capacity and support future hydrogen production, especially in coastal and remote industrial zones. Moreover, international partnerships and technology transfers are facilitating knowledge exchange and accelerating the market’s growth in the region. European firms with proven expertise in floating platforms are forming joint ventures with local developers, enabling capacity-building and infrastructure readiness.

The region’s interest in floating offshore wind is also driven by the opportunity to leverage existing oil and gas infrastructure for grid connections, logistics, and workforce transitions, further reducing the cost and complexity of initial deployments. The convergence of policy support, private investment, and technological suitability positions South America as an emerging hotspot for floating wind development, with pilot projects expected to transition to large-scale commercialization in the coming decade. This growing commitment to floating offshore wind reflects the broader regional shift toward sustainable energy independence and economic development through renewable innovation.

Recent Developments

  • In December 2024, The French government awarded two 250 MW floating wind sites in the Mediterranean Sea under the AO6 tender. A consortium led by Ocean Winds secured the Narbonaise site, over 25 km off the coast between Agde and Port-la-Nouvelle. EDF and Maple Power were granted the second site in the Golfe de Fos, also located more than 25 km offshore.
  • In November 2024, Mainstream Renewable Power, a global leader in wind and solar energy and majority-owned by Aker Horizons ASA, announced that its joint venture with Ocean Winds, KF Wind, secured a Transmission Service Agreement (TSA) with Korea Electric Power Corporation (KEPCO). This agreement facilitates the integration of 1,125 MW of clean energy from KF Wind’s floating offshore wind project off the coast of Ulsan into Korea’s national grid. Upon full operation, the Ulsan floating offshore wind cluster, including KF Wind, is expected to deliver approximately 6 GW, establishing it as the world’s largest floating offshore wind area and a pivotal contributor to Korea’s carbon neutrality goals.
  • In November 2024, Swedish offshore wind specialist Hexicon progressed its acquisition of the 1.1 GW MunmuBaram floating offshore wind project by obtaining approval from Korea’s Electricity Regulatory Commission to transfer two of the three required business licenses. The MunmuBaram project forms a crucial segment of a broader initiative to develop the world’s largest floating offshore wind power complex in the East Sea, off Ulsan’s coast, with a planned capacity of 6.2 GW—equivalent to the output of six nuclear reactors. The project, located 70 km from the coastline, has attracted approximately USD 29 billion in investments from domestic and international stakeholders and will be operated through five special-purpose entities, including MunmuBaram.
  • In November 2023, Prysmian Group completed the pre-termination stage of the dynamic cable system for the Provence Grand Large floating wind farm off the French coast. Slated for completion by year-end, the 24 MW facility comprises three 8.4 MW turbines and will supply clean electricity to over 40,000 households. Operating in 100-meter-deep waters, the project supports Prysmian’s expansion within the floating offshore wind industry.
  • In November 2023, The Salamander project—jointly developed by Simply Blue Group, Ørsted, and Subsea7—launched a metocean campaign off Northeast Scotland. Floating LiDAR and wave buoys were deployed to gather 12 months of meteorological and oceanographic data for the proposed wind farm, located 35 km off Peterhead. Conducted by Fugro, the campaign supports the design, operational planning, and maintenance of the project, which aims to provide renewable energy to 100,000 Scottish households.

Key Market Players

  • Equinor ASA
  • Ørsted A/S
  • Principle Power Inc.
  • Hexicon AB
  • Saitec Offshore Technologies
  • Floating Power Plant A/S
  • GE Renewable Energy
  • Siemens Gamesa Renewable Energy S.A.
  • Aker Solutions ASA
  • TotalEnergies SE

By Water Depth

By Turbine Capacity

By Region

  • Shallow Water (Less Than 30 M Depth)
  • Transitional Water (30 M To 60 M Depth)
  • Deep Water (Higher Than 60 M Depth)
  • Up to 3 MW
  • 3 MW - 5 MW
  • Above 5 MW
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Report Scope:

In this report, the Global Floating Offshore Wind Power Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Floating Offshore Wind Power Market, By Water Depth:

o   Shallow Water (Less Than 30 M Depth)

o   Transitional Water (30 M To 60 M Depth)

o   Deep Water (Higher Than 60 M Depth)

  • Floating Offshore Wind Power Market, By Turbine Capacity:

o   Up to 3 MW

o   3 MW - 5 MW

o   Above 5 MW  

  • Floating Offshore Wind Power Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Floating Offshore Wind Power Market.

Available Customizations:

Global Floating Offshore Wind Power Market report with the given Market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional Market players (up to five).

Global Floating Offshore Wind Power Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

Table of content

1.    Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1.   Markets Covered

1.2.2.   Years Considered for Study

1.3. Key Market Segmentations

2.    Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Formulation of the Scope

2.4. Assumptions and Limitations

2.5. Sources of Research

2.5.1.   Secondary Research

2.5.2.   Primary Research

2.6. Approach for the Market Study

2.6.1.   The Bottom-Up Approach

2.6.2.   The Top-Down Approach

2.7. Methodology Followed for Calculation of Market Size & Market Shares

2.8. Forecasting Methodology

2.8.1.   Data Triangulation & Validation

3.    Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, and Trends

4.    Voice of Customer

5.    Global Floating Offshore Wind Power Market Outlook

5.1. Market Size & Forecast

5.1.1.   By Value

5.2. Market Share & Forecast

5.2.1.   By Water Depth (Shallow Water (Less Than 30 M Depth), Transitional Water (30 M To 60 M Depth), and Deep Water (Higher Than 60 M Depth))

5.2.2.   By Turbine Capacity (Up to 3 MW, 3 MW - 5 MW, and Above 5 MW)

5.2.3.   By Region

5.3. By Company (2024)

5.4. Market Map

6.    North America Floating Offshore Wind Power Market Outlook

6.1. Market Size & Forecast          

6.1.1.   By Value

6.2. Market Share & Forecast

6.2.1.   By Water Depth

6.2.2.   By Turbine Capacity

6.2.3.   By Country

6.3. North America: Country Analysis

6.3.1.   United States Floating Offshore Wind Power Market Outlook

6.3.1.1.               Market Size & Forecast

6.3.1.1.1.          By Value

6.3.1.2.               Market Share & Forecast

6.3.1.2.1.          By Water Depth

6.3.1.2.2.          By Turbine Capacity

6.3.2.   Canada Floating Offshore Wind Power Market Outlook

6.3.2.1.               Market Size & Forecast

6.3.2.1.1.          By Value

6.3.2.2.               Market Share & Forecast

6.3.2.2.1.          By Water Depth

6.3.2.2.2.          By Turbine Capacity

6.3.3.   Mexico Floating Offshore Wind Power Market Outlook

6.3.3.1.               Market Size & Forecast

6.3.3.1.1.          By Value

6.3.3.2.               Market Share & Forecast

6.3.3.2.1.          By Water Depth

6.3.3.2.2.          By Turbine Capacity

7.    Europe Floating Offshore Wind Power Market Outlook

7.1. Market Size & Forecast          

7.1.1.   By Value

7.2. Market Share & Forecast

7.2.1.   By Water Depth

7.2.2.   By Turbine Capacity

7.2.3.   By Country

7.3. Europe: Country Analysis

7.3.1.   Germany Floating Offshore Wind Power Market Outlook

7.3.1.1.               Market Size & Forecast

7.3.1.1.1.          By Value

7.3.1.2.               Market Share & Forecast

7.3.1.2.1.          By Water Depth

7.3.1.2.2.          By Turbine Capacity

7.3.2.   United Kingdom Floating Offshore Wind Power Market Outlook

7.3.2.1.               Market Size & Forecast

7.3.2.1.1.          By Value

7.3.2.2.               Market Share & Forecast

7.3.2.2.1.          By Water Depth

7.3.2.2.2.          By Turbine Capacity

7.3.3.   Italy Floating Offshore Wind Power Market Outlook

7.3.3.1.               Market Size & Forecast

7.3.3.1.1.          By Value

7.3.3.2.               Market Share & Forecast

7.3.3.2.1.          By Water Depth

7.3.3.2.2.          By Turbine Capacity

7.3.4.   France Floating Offshore Wind Power Market Outlook

7.3.4.1.               Market Size & Forecast

7.3.4.1.1.          By Value

7.3.4.2.               Market Share & Forecast

7.3.4.2.1.          By Water Depth

7.3.4.2.2.          By Turbine Capacity

7.3.5.   Spain Floating Offshore Wind Power Market Outlook

7.3.5.1.               Market Size & Forecast

7.3.5.1.1.          By Value

7.3.5.2.               Market Share & Forecast

7.3.5.2.1.          By Water Depth

7.3.5.2.2.          By Turbine Capacity

8.    Asia-Pacific Floating Offshore Wind Power Market Outlook

8.1. Market Size & Forecast          

8.1.1.   By Value

8.2. Market Share & Forecast

8.2.1.   By Water Depth

8.2.2.   By Turbine Capacity

8.2.3.   By Country

8.3. Asia-Pacific: Country Analysis

8.3.1.   China Floating Offshore Wind Power Market Outlook

8.3.1.1.               Market Size & Forecast

8.3.1.1.1.          By Value

8.3.1.2.               Market Share & Forecast

8.3.1.2.1.          By Water Depth

8.3.1.2.2.          By Turbine Capacity

8.3.2.   India Floating Offshore Wind Power Market Outlook

8.3.2.1.               Market Size & Forecast

8.3.2.1.1.          By Value

8.3.2.2.               Market Share & Forecast

8.3.2.2.1.          By Water Depth

8.3.2.2.2.          By Turbine Capacity

8.3.3.   Japan Floating Offshore Wind Power Market Outlook

8.3.3.1.               Market Size & Forecast

8.3.3.1.1.          By Value

8.3.3.2.               Market Share & Forecast

8.3.3.2.1.          By Water Depth

8.3.3.2.2.          By Turbine Capacity

8.3.4.   South Korea Floating Offshore Wind Power Market Outlook

8.3.4.1.               Market Size & Forecast

8.3.4.1.1.          By Value

8.3.4.2.               Market Share & Forecast

8.3.4.2.1.          By Water Depth

8.3.4.2.2.          By Turbine Capacity

8.3.5.   Australia Floating Offshore Wind Power Market Outlook

8.3.5.1.               Market Size & Forecast

8.3.5.1.1.          By Value

8.3.5.2.               Market Share & Forecast

8.3.5.2.1.          By Water Depth

8.3.5.2.2.          By Turbine Capacity

9.    South America Floating Offshore Wind Power Market Outlook

9.1. Market Size & Forecast          

9.1.1.   By Value

9.2. Market Share & Forecast

9.2.1.   By Water Depth

9.2.2.   By Turbine Capacity

9.2.3.   By Country

9.3. South America: Country Analysis

9.3.1.   Brazil Floating Offshore Wind Power Market Outlook

9.3.1.1.               Market Size & Forecast

9.3.1.1.1.          By Value

9.3.1.2.               Market Share & Forecast

9.3.1.2.1.          By Water Depth

9.3.1.2.2.          By Turbine Capacity

9.3.2.   Argentina Floating Offshore Wind Power Market Outlook

9.3.2.1.               Market Size & Forecast

9.3.2.1.1.          By Value

9.3.2.2.               Market Share & Forecast

9.3.2.2.1.          By Water Depth

9.3.2.2.2.          By Turbine Capacity

9.3.3.   Colombia Floating Offshore Wind Power Market Outlook

9.3.3.1.               Market Size & Forecast

9.3.3.1.1.          By Value

9.3.3.2.               Market Share & Forecast

9.3.3.2.1.          By Water Depth

9.3.3.2.2.          By Turbine Capacity

10. Middle East and Africa Floating Offshore Wind Power Market Outlook

10.1.    Market Size & Forecast      

10.1.1.                By Value

10.2.    Market Share & Forecast

10.2.1.                By Water Depth

10.2.2.                By Turbine Capacity

10.2.3.                By Country

10.3.    Middle East and Africa: Country Analysis

10.3.1.                South Africa Floating Offshore Wind Power Market Outlook

10.3.1.1.            Market Size & Forecast

10.3.1.1.1.       By Value

10.3.1.2.            Market Share & Forecast

10.3.1.2.1.       By Water Depth

10.3.1.2.2.       By Turbine Capacity

10.3.2.                Saudi Arabia Floating Offshore Wind Power Market Outlook

10.3.2.1.            Market Size & Forecast

10.3.2.1.1.       By Value

10.3.2.2.            Market Share & Forecast

10.3.2.2.1.       By Water Depth

10.3.2.2.2.       By Turbine Capacity

10.3.3.                UAE Floating Offshore Wind Power Market Outlook

10.3.3.1.            Market Size & Forecast

10.3.3.1.1.       By Value

10.3.3.2.            Market Share & Forecast

10.3.3.2.1.       By Water Depth

10.3.3.2.2.       By Turbine Capacity

10.3.4.                Kuwait Floating Offshore Wind Power Market Outlook

10.3.4.1.            Market Size & Forecast

10.3.4.1.1.       By Value

10.3.4.2.            Market Share & Forecast

10.3.4.2.1.       By Water Depth

10.3.4.2.2.       By Turbine Capacity

10.3.5.                Turkey Floating Offshore Wind Power Market Outlook

10.3.5.1.            Market Size & Forecast

10.3.5.1.1.       By Value

10.3.5.2.            Market Share & Forecast

10.3.5.2.1.       By Water Depth

10.3.5.2.2.       By Turbine Capacity

11. Market Dynamics

11.1.    Drivers

11.2.    Challenges

12. Market Trends & Developments

12.1.    Merger & Acquisition (If Any)

12.2.    Product Launches (If Any)

12.3.    Recent Developments

13. Company Profiles

13.1.    Equinor ASA

13.1.1.                Business Overview

13.1.2.                Key Revenue and Financials 

13.1.3.                Recent Developments

13.1.4.                Key Personnel/Key Contact Person

13.1.5.                Key Product/Services Offered

13.2.    Ørsted A/S

13.3.    Principle Power Inc.

13.4.    Hexicon AB

13.5.    Saitec Offshore Technologies

13.6.    Floating Power Plant A/S

13.7.    GE Renewable Energy

13.8.    Siemens Gamesa Renewable Energy S.A.

13.9.    Aker Solutions ASA

13.10.  TotalEnergies SE

14. Strategic Recommendations

15. About Us & Disclaimer

 

Figures and Tables

Frequently asked questions

Frequently asked questions

The Market size of the Global Floating Offshore Wind Power Market was USD 4.27 billion in 2024.

In 2024, Shallow Water (Less Than 30 M Depth) dominated the market. The shallow water segment (less than 30 meters depth) in the Floating Offshore Wind Power Market is driven by easier installation and lower costs compared to deepwater projects. This accessibility accelerates deployment timelines, attracts investments, and supports early-stage market growth in coastal regions with suitable shallow seabeds.

The Floating Offshore Wind Power Market faces challenges including high initial capital costs, complex installation and maintenance in deepwater environments, limited infrastructure and supply chain readiness, regulatory uncertainties, and technological risks related to platform stability and grid integration. These factors slow large-scale deployment and increase project risks.

Rising global demand for clean energy and government commitments to carbon reduction are driving rapid growth in the floating offshore wind power market. Advancements in floating platform technology enable deployment in deep waters, unlocking vast untapped wind resources and supporting large-scale renewable energy integration.

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