Floating Wind Power Market Size
Market Outlook:
Floating Wind Power Market size is forecast to grow from USD 3.82 billion to USD 128.23 billion between 2025 and 2034, marking a CAGR of more than 42.1%. The expected industry revenue in 2025 is USD 5.27 billion.
Base Year Value (2024)
USD 3.82 billion
19-24
x.x %
25-34
x.x %
CAGR (2025-2034)
42.1%
19-24
x.x %
25-34
x.x %
Forecast Year Value (2034)
USD 128.23 billion
19-24
x.x %
25-34
x.x %
Historical Data Period
2019-2024
Largest Region
Europe
Forecast Period
2025-2034
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Market Dynamics:
Growth Drivers & Opportunity: The increasing demand for renewable energy sources and the need to decarbonize the power sector are driving the growth of the floating wind power market. Floating wind power offers the potential to harness wind energy in deeper waters where fixed-bottom turbines are not feasible, thus expanding the geographical reach of offshore wind energy projects. Additionally, technological advancements and cost reductions in floating wind power technology are further fueling market growth. IndustryReport Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Water Depth, Turbine Capacity |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | General Electric, Vestas, Siemens Gamesa, Goldwind, Shanghai Electric Wind Power Equipment Co., ABB, Doosan Heavy Industries and Construction, Hitachi, Nordex SE, EEW, Nexans, DEME, Ming Yang Smart Energy Group Co, China), Envision, Rockwell Automation, Hyundai Motor Group, Schneider Electric, Zhejiang Windey Co.(China), Taiyuan Heavy Industry Co., Sinovel(China) |
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