Floating Wind Power Global Market Report 2026

Floating wind power involves generating electricity with wind turbines mounted on floating platforms anchored to the seabed in deep waters, where traditional fixed-bottom turbines cannot be used. These floating platforms are engineered to remain stable despite wave motion, enabling turbines to harness wind energy from regions with stronger and more consistent winds. Floating wind power offers the potential to significantly expand offshore wind energy capacity by tapping into deeper ocean areas with abundant wind resources.

The main types of foundations in the floating wind power market are spar-buoy foundations, tension-leg platform (TLP) foundations, and semi-submersible foundations. A spar-buoy foundation features a long, cylindrical structure (the spar) that extends deep into the water, providing stability through ballast and buoyancy. Turbines are available in various capacities, including up to 3 MW, between 3 MW and 5 MW, and above 5 MW. These turbines are deployed at different water depths, including shallow, transitional, and deep waters.

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 are impacting the floating wind power market by increasing costs of imported steel structures, mooring systems, subsea cables, turbines, and offshore installation equipment. Europe and Asia-Pacific are most affected due to cross-border sourcing of specialized offshore components, while North America faces higher capital costs for pilot projects. These tariffs are raising development expenses and delaying project deployment. However, they are also promoting domestic fabrication of offshore structures, regional supply chain localization, and long-term industrial capability building.

The floating wind power market research report is one of a series of new reports from The Business Research Company that provides floating wind power market statistics, including floating wind power industry global market size, regional shares, competitors with a floating wind power market share, detailed floating wind power market segments, market trends and opportunities, and any further data you may need to thrive in the floating wind power industry. This floating wind power 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 floating wind power market size has grown exponentially in recent years. It will grow from $6.6 billion in 2025 to $8.87 billion in 2026 at a compound annual growth rate (CAGR) of 34.4%. The growth in the historic period can be attributed to limitations of fixed-bottom offshore wind sites, early offshore wind pilot projects, advancements in offshore engineering, increasing demand for renewable offshore power, government support for offshore wind.

The floating wind power market size is expected to see exponential growth in the next few years. It will grow to $28.67 billion in 2030 at a compound annual growth rate (CAGR) of 34.1%. The growth in the forecast period can be attributed to increasing investments in deepwater offshore wind farms, rising demand for large-scale clean energy generation, technological advancements in floating foundations, expansion of offshore transmission infrastructure, growing commercialization of floating wind technology. Major trends in the forecast period include advancement of floating turbine platform designs, increasing deployment in deepwater locations, growing use of large-capacity offshore turbines, expansion of mooring and anchoring technologies, enhanced focus on offshore grid integration.

The rising demand for renewable energy is anticipated to drive the growth of the floating wind power market in the future. Renewable energy is sourced from natural phenomena that are replenished on a human timescale, including sunlight, wind, rain, tides, waves, and geothermal heat. These sources-solar, wind, hydro, geothermal, and biomass-provide sustainable and eco-friendly alternatives to fossil fuels. Floating wind power contributes to renewable energy by facilitating electricity generation in deep offshore waters, where stronger winds can produce higher energy output, thus broadening the scope for clean, sustainable energy globally. For example, the International Energy Agency (IEA) reported in 2023 that global annual renewable capacity additions increased by nearly 50% to about 510 gigawatts (GW), representing the fastest growth in two decades. By 2028, the global renewable capacity is projected to reach 7,300 GW. Hence, the growing demand for renewable energy is propelling the floating wind power market.

Key players in the floating wind power market are advancing the development of floating wind turbine platforms to capture offshore wind energy in deeper waters where traditional fixed-bottom turbines are impractical. These platforms, equipped with two rotors on a single floating structure, enhance energy capture and stability in offshore conditions. For instance, Mingyang Smart Energy, a China-based renewable energy firm, unveiled the Ocean X in July 2024. This platform features the largest twin-rotor floating wind turbine setup, with two MySE8.3-180 hybrid drive turbines, each with a capacity of 8.3 MW, resulting in a total capacity of 16.6 MW. It achieves a lower levelized cost of energy (LCOE) through improved aerodynamic performance and reduced material use. The platform also includes advanced anti-typhoon technology, making it suitable for severe maritime conditions. These innovations are expected to boost the efficiency and deployment of offshore wind projects, delivering significant energy output and cost advantages.

In June 2025, Aurora Energy Services Ltd., a UK-based energy services company, acquired Encomara for an undisclosed amount. Through this acquisition, Aurora seeks to enhance its floating wind power capabilities by integrating Encomara's proprietary SQUID quick-connect mooring and electrical connection system, which helps reduce installation time, costs, and operational risks for floating offshore wind turbines. Encomara Ltd. is a UK-based engineering company specializing in floating wind deployment systems and subsea engineering solutions that support the development, installation, and operation of floating offshore wind projects.

Major companies operating in the floating wind power market are TotalEnergies SE, Mitsubishi Corporation, Engie SA, Hitachi Ltd., General Electric Company, Siemens Energy AG, Hyundai Engineering & Construction Co.Ltd., Shanghai Electric Wind Power Equipment Co., Vestas Wind Systems A/S, Goldwind Science & Technology Co. Ltd., Nordex SE, DEME Group, Taiyuan Heavy Industry Co. Ltd., Suzlon Energy Limited, Envision Group, Sinovel Wind Group Co. Ltd., EEW Group, Ming Yang Wind Power Group Limited, Doosan Group, BW Ideol AS, Flowocean AB

Europe was the largest region in the floating wind power market in 2025. The regions covered in the floating wind power market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

The floating wind power market consists of revenues earned by entities by providing services such as feasibility studies and site assessment, design and engineering, and permitting and regulatory compliance. The market value includes the value of related goods sold by the service provider or included within the service offering. The floating wind power market also includes sales of spar-buoy or semi-submersible structures, offshore wind turbines, mooring and anchoring systems, underwater cabling, and floating substations. 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.

Floating Wind Power 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 floating wind power 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 floating wind power ? 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 floating wind power 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: Spar-Buoy Foundation; Tension-Leg Platform (TLP) Foundation; Semi-Submersible Foundation; Other Foundations
• 2) By Turbine Capacity: Up To 3 MW; 3 MW - 5 MW; Above 5 MW
• 3) By Water Depth: Shallow Water; Transitional Water; Deep Water
• Subsegments:
• 1) By Spar-Buoy Foundation: Deep Water Spar Buoy Systems; Concrete Spar Buoy Foundations; Floating Turbines With Spar Buoy Anchoring; Hybrid Spar-Buoy Solutions; Lightweight Spar Buoy Designs
• 2) By Tension-Leg Platform (TLP) Foundation: Concrete TLP Foundations; Floating TLP For Deepwater Applications; Anchor-Based TLP Systems; Hybrid TLP Solutions With Concrete And Steel; TLP With Mooring Systems For Wind Turbines
• 3) By Semi-Submersible Foundation: Concrete Semi-Submersible Platforms; Steel Semi-Submersible Designs; Subsea Buoyancy-Based Semi-Submersible Platforms; Flexible Semi-Submersible Designs; Hybrid Semi-Submersible Platforms For Shallow And Deep Waters
• 4) By Other Foundations: Concrete Gravity-Based Foundations; Hybrid Floating Foundations; Submerged Buoy And Pontoon Systems; Mooring And Anchoring Solutions For Floating Wind; Innovative Foundation Designs For Harsh Marine Environments
• Companies Mentioned: TotalEnergies SE; Mitsubishi Corporation; Engie SA; Hitachi Ltd.; General Electric Company; Siemens Energy AG; Hyundai Engineering & Construction Co.Ltd.; Shanghai Electric Wind Power Equipment Co.; Vestas Wind Systems A/S; Goldwind Science & Technology Co. Ltd.; Nordex SE; DEME Group; Taiyuan Heavy Industry Co. Ltd.; Suzlon Energy Limited; Envision Group; Sinovel Wind Group Co. Ltd.; EEW Group; Ming Yang Wind Power Group Limited; Doosan Group; BW Ideol AS; Flowocean AB
• 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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