Off Shore Wind Turbine Global Market Report 2026

Offshore wind turbines are elevated structures equipped with large rotating blades strategically deployed in oceanic environments to harness wind energy for electricity generation. These turbines play a pivotal role in the business of sustainable energy production by converting the kinetic energy of offshore winds into electrical power.

Various foundation types support offshore wind turbines, with notable options such as monopile, jacket, tripod, and floating structures. Monopile foundations consist of substantial steel tubes, forming a crucial element in the offshore wind turbine infrastructure. These turbines exhibit diverse capacities, categorized as up to 3 MW, 3 MW to 5 MW, and above 5 MW, catering to different energy needs. Furthermore, offshore wind turbines are deployed at varying depths, including shallow water, transitional water, and deep water locations, presenting versatile solutions for distinct marine environments. The applications of these offshore wind turbines extend across industrial, commercial, and residential settings, illustrating their adaptability and relevance in diverse business contexts.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have influenced the offshore wind turbine market by increasing the cost of imported turbine components such as blades, towers, nacelles, and foundation structures. These impacts have been most pronounced in large scale offshore projects across Europe, Asia Pacific, and North America where cross border sourcing of specialized components is common. Higher tariffs have increased project capital costs and extended development timelines. At the same time, tariffs have encouraged local manufacturing, regional supply chain development, and domestic content requirements, supporting long term industry resilience.

The offshore wind turbine market research report is one of a series of new reports from The Business Research Company that provides offshore wind turbine market statistics, including off shore wind turbine industry global market size, regional shares, competitors with an off shore wind turbine market share, detailed offshore wind turbine market segments, market trends and opportunities, and any further data you may need to thrive in the off shore wind turbine industry. This off-shore wind turbine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The off shore wind turbine market size has grown rapidly in recent years. It will grow from $36.25 billion in 2025 to $41.86 billion in 2026 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to government renewable energy targets, declining offshore wind installation costs, increasing demand for clean electricity generation, limited availability of onshore wind sites, early investments in offshore wind infrastructure.

The off shore wind turbine market size is expected to see rapid growth in the next few years. It will grow to $73.42 billion in 2030 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to expansion of floating wind technology deployments, increasing electricity demand from coastal regions, supportive offshore wind auction policies, advancements in turbine efficiency and size, growth in offshore grid infrastructure investments. Major trends in the forecast period include deployment of larger capacity offshore wind turbines, growing adoption of floating wind turbine foundations, expansion of offshore wind farms in deep water locations, increasing use of modular turbine components for easier installation, rising focus on reducing offshore installation and maintenance costs.

The rising demand for renewable and sustainable energy is expected to propel the offshore wind turbine market. Renewable and sustainable energy refers to clean energy derived from naturally replenishing resources or processes, such as solar and wind. Demand for renewable and sustainable energy is growing because conventional energy sources, including fossil fuel combustion and nuclear power, release harmful pollutants into the air and water. In contrast, renewable energy sources such as solar and wind do not pollute the environment. Generating electricity through offshore wind turbines represents an efficient approach to supporting sustainable development. For instance, in December 2023, according to reports published by the Department for Energy Security and Net Zero, a UK-based government department, renewable electricity generation reached 30.1 TWh in Quarter 3 of 2023, a 6.8% increase from 2022. This growth was supported by the addition of 2.9 GW of new renewable capacity, driven largely by increases in solar PV and wind installations, raising renewables' share to 44.5% of total electricity generation. Therefore, the rising demand for renewable and sustainable energy is driving the growth of the offshore wind turbine market.

Prominent companies within the market are strategically focused on the development of innovative solutions, exemplified by the introduction of floating offshore wind farms, to offer reliable services to their customers. A floating offshore wind farm is characterized by an assemblage of wind turbines affixed to floating platforms rather than fixed foundations, allowing them to operate effectively in deep waters. A noteworthy example is the achievement by Equinor ASA, a Norway-based multinational energy company, which inaugurated the world's largest floating offshore wind farm in August 2023. This 11-turbine facility, based on Equinor's Hywind concept, boasts an impressive 88 MW capacity, effectively covering 35% of the electricity needs for five platforms. Executed over a five-year span, the project incurred an investment of approximately NOK 7.4 billion, with 60% of the amount directed towards Norwegian suppliers, contributing to the growth of green jobs and technology development. Notably, when compared to the Hywind Scotland project, Hywind Tampen achieved a 35% reduction in investment cost per installed MW, showcasing the economic efficiency and advancements in floating offshore wind technology.

In July 2024, Orsted, a US-based company focused on renewable energy solutions, particularly offshore wind farms, announced the acquisition of Eversource Energy's 50% stake in the Sunrise Wind project, a 924 MW offshore wind farm, for USD 152 million. This acquisition grants Orsted full ownership of the project, which is set to provide renewable energy to nearly 600,000 homes. The Sunrise Wind project is located in the US and represents a significant step in Orsted's commitment to expanding its renewable energy portfolio.

Major companies operating in the off shore wind turbine market are ABB Ltd., Orsted A/S, Shanghai Electric Group Co Ltd., Vestas Wind Technology India Private Limited, Vestas Wind Systems A/S, MHI Vestas Offshore Wind A/S, General Electric Renewable Energy LLC, Siemens Gamesa Renewable Energy S.A., Nordex Acciona Windpower S.A., Tata Power Company Limited, Xinjiang Goldwind Science Technology Co Ltd., Goldwind Science & Technology Co Ltd., MingYang Smart Energy Co Ltd., Eneco Group NV, Northland Power Inc., Senvion S.A., ReNew Energy Global plc, Suzlon Energy Limited, Adani Green Energy Limited, Envision Energy Limited, Sinovel Wind Group Co Ltd., Copenhagen Infrastructure Partners, Adwen Offshore Wind Power SAS, XEMC Windpower Co Ltd., Jiangsu Aeolos Wind Energy Corporation, CSIC Haizhuang Windpower Equipment Co Ltd.

Western Europe was the largest region in the global offshore wind turbine market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the off shore wind turbine market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the off shore wind turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The offshore wind turbines market consists of sales of fixed foundation and floating foundation offshore wind turbines. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Off Shore Wind Turbine Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses off shore wind turbine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for off shore wind turbine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The off shore wind turbine market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Foundation Type: Monopile; Jacket; Tripod; Floating
• 2) By Capacity: Up To 3 Megawatt (MW); 3 MW To 5 MW; Above 5MW
• 3) By Depth: Shallow Water; Transitional Water; Deep Water
• 4) By Application: Industrial; Commercial
• Subsegments:
• 1) By Monopile: Single Monopile Foundations; Grouted Monopile Foundations
• 2) By Jacket: Standard Jacket Foundations; Suction Caisson Jackets
• 3) By Tripod: Three-Legged Tripod Foundations; Reinforced Tripod Designs
• 4) By Floating: Spar-Buoy Foundations; Tension Leg Platforms (TLPs); Semi-Submersible Foundations
• Companies Mentioned: ABB Ltd.; Orsted A/S; Shanghai Electric Group Co Ltd.; Vestas Wind Technology India Private Limited; Vestas Wind Systems A/S; MHI Vestas Offshore Wind A/S; General Electric Renewable Energy LLC; Siemens Gamesa Renewable Energy S.A.; Nordex Acciona Windpower S.A.; Tata Power Company Limited; Xinjiang Goldwind Science Technology Co Ltd.; Goldwind Science & Technology Co Ltd.; MingYang Smart Energy Co Ltd.; Eneco Group NV; Northland Power Inc.; Senvion S.A.; ReNew Energy Global plc; Suzlon Energy Limited; Adani Green Energy Limited; Envision Energy Limited; Sinovel Wind Group Co Ltd.; Copenhagen Infrastructure Partners; Adwen Offshore Wind Power SAS; XEMC Windpower Co Ltd.; Jiangsu Aeolos Wind Energy Corporation; CSIC Haizhuang Windpower Equipment Co Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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