PUBLISHER: The Business Research Company | PRODUCT CODE: 2133612
PUBLISHER: The Business Research Company | PRODUCT CODE: 2133612
Floating offshore wind refers to wind turbines installed on floating platforms, enabling their deployment in deeper waters where traditional fixed-bottom turbines are not practical. The technology is designed to harness wind energy in areas with stronger wind speeds, expanding the potential for offshore wind power generation beyond shallow coastal regions.
The primary components of floating offshore wind systems include turbines, floating structures, subsea cables, and other elements. A turbine is a rotary mechanical device that captures energy from fluid flow and converts it into useful work. These systems are deployed across various water locations, including shallow water, deep water, and transitional water, and are utilized for applications such as commercial power generation, research and development, and other uses.
Tariffs are influencing the floating offshore wind market by increasing production costs for steel, turbines, and subsea cable components while affecting supply chains. Regions such as Europe, Asia-Pacific, and North America, which rely on imported advanced wind technologies, are most affected. While tariffs have delayed some project deployments, they are also encouraging domestic manufacturing, investment in lightweight and locally sourced materials, and innovation in floating platform design, supporting long-term market growth.
The floating offshore wind market research report is one of a series of new reports from The Business Research Company that provides floating offshore wind market statistics, including floating offshore wind industry global market size, regional shares, competitors with a floating offshore wind market share, detailed floating offshore wind market segments, market trends and opportunities, and any further data you may need to thrive in the floating offshore wind industry. This floating offshore wind 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 offshore wind market size has grown exponentially in recent years. It will grow from $2.12 billion in 2025 to $3.09 billion in 2026 at a compound annual growth rate (CAGR) of 45.6%. The growth during the historic period can be attributed to increasing investments in offshore wind energy, limitations of shallow-water fixed-bottom turbines, government incentives supporting renewable energy, technological advancements in wind turbine design, and growing global electricity demand.
The floating offshore wind market size is expected to see exponential growth in the next few years. It will grow to $13.05 billion in 2030 at a compound annual growth rate (CAGR) of 43.3%. The growth during the forecast period can be attributed to the expansion of deep-water wind farm projects, increasing focus on carbon neutrality, advancements in floating platform technology, integration with smart grids and energy storage, and supportive government policies and subsidies. Major trends in the forecast period include development of high-capacity floating wind turbines, adoption of semi-submersible and spar-buoy platforms, integration of advanced mooring and ballast systems, deployment of subsea power and fiber optic cables, and expansion of floating offshore wind farms for commercial power generation.
Increasing demand for renewable energy is expected to propel the growth of the floating offshore wind market going forward. Renewable energy refers to energy produced from naturally replenishing resources, including sunlight, wind, rain, tides, waves, and geothermal heat. The growing demand for renewable energy is driven by the need to reduce carbon emissions by replacing fossil fuels such as coal, oil, and natural gas, which are major sources of greenhouse gases (GHGs), including carbon dioxide (CO2). Floating offshore wind contributes to renewable energy generation by harnessing wind power in deeper ocean waters, where conventional fixed turbines cannot be installed, substantially expanding the potential for clean energy generation in regions with strong and consistent wind resources. For instance, in February 2024, according to a report published by the Energy Information Administration, a US-based government agency, solar capacity was expected to increase by 30% (31 GW) in 2024, while U.S. wind capacity was projected to grow by 5% annually, adding 6 GW in 2023 and 7 GW in 2024. Therefore, the increasing demand for renewable energy is driving the floating offshore wind market.
Major companies operating in the floating offshore wind market are concentrating on technological advancements, including floating offshore wind technology, to improve efficiency, scalability, and cost-effectiveness. Floating offshore wind technology is a method of generating electricity from wind energy using turbines installed on floating structures that are anchored to the seabed. For instance, in March 2025, Saipem S.p.A., an Italy-based oilfield services company, launched Star1, a semi-submersible floating wind foundation designed to support next-generation offshore turbines exceeding 20 MW. The technology incorporates a steel semi-submersible design with three arms to improve stability, optimize mooring loads, and accommodate turbines exceeding 20 MW. It is ready for FEED and deployment in Sicily's 7 Seas Med project, which is expected to generate 800 GWh per year, and Sardinia's Ichnusa Wind Power project, expected to generate 1.6 TWh per year.
In July 2024, Archer Limited, a Norway-based oilfield services company, acquired Moreld Ocean Wind (MOW) for an undisclosed amount. Through this acquisition, Archer aims to expand its energy services portfolio and support its energy customers' energy-transition objectives by entering the growing floating offshore wind market and capitalizing on its development opportunities. Moreld Ocean Wind (MOW) is a Norway-based provider of floating offshore wind solutions.
Major companies operating in the floating offshore wind market are Equinor ASA, Hitachi Ltd., Iberdrola S.A., Mitsubishi Heavy Industries, ABB Limited, Orsted A/S, Prysmian S.p.A., Shanghai Electric Group Company Limited, Siemens Gamesa Renewable Energy S.A., Goldwind Science & Technology Co Ltd., Guangdong Mingyang Smart Energy Group Co Ltd., General Electric Renewable Energy, Aker Solutions ASA, Vattenfall AB, Envision Energy Limited, Principle Power Inc., Naval Energies SAS, Doosan Heavy Industries & Construction Company Limited, BW Ideol AS, Global Energy Group Limited
Europe was the largest region in the floating offshore wind market in 2025. The regions covered in the floating offshore wind 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 offshore wind market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The floating offshore wind market consists of revenues earned by entities by providing services such as design and engineering services, manufacturing, fabrication, installation, and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The floating offshore wind market also includes sales of floating foundations, mooring systems, substations, installation vessels and equipment, and maintenance and inspection tools. 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 Offshore Wind 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 offshore wind 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.
Where is the largest and fastest growing market for floating offshore wind ? 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 offshore wind 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.
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