Global Floating Wind Turbine Market Analysis

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Global Floating Wind Turbine Market Analysis

  • OIL, GAS & ENERGY
  • Mar 2025
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Over the next ten years, it is anticipated that the offshore wind business would increase from 17 to 90 GW, making up 15% of the worldwide wind sector. In order to increase the level cost of energy (LCOE) of offshore wind farms and make offshore wind energy more affordable for our clients, GE, for instance, has committed more than $400 million in creating the most powerful offshore wind turbine. The increase in investments hastens the market's overall expansion. Furthermore, it is predicted that offshore wind farms will unquestionably be crucial in enabling the expansion of installed infrastructure in the future for a renewables-based age. In this context, the site selection process and, consequently, the operational guidelines for these wind energy-driven projects should be taken into account by an adequate regulatory framework. These factors will help the market gain momentum significantly over the forecast period.

Filled Map Analysis

Frequently Asked Questions

The major factors driving the growth of the Floating Wind Turbine market are acceleration of Sustainable and Eco-Friendly Electricity Source and Increased Benefits of Wind Energy.
The primary challenges include dearth of technical expertise and high capital and maintenance costs.
Japan is expected to dominate the floating wind turbine market in the Asia-Pacific region. This dominance is driven by Japan's strategic focus on expanding its renewable energy capacity and reducing its reliance on fossil fuels. The country has significant offshore wind resources, and its government is investing heavily in developing floating wind turbine technology to harness these resources.
Asia-Pacific dominates the floating wind turbine market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the large consumer base. The market's increased growth with the rapid demand for renewable energy sources within the region in the forecast period of 2025 to 2032.
India is expected to witness the highest CAGR in the floating wind turbine market. This growth is driven by the country's expanding focus on renewable energy, particularly offshore wind projects. India’s increasing investments in clean energy infrastructure, coupled with a strong push for sustainable energy solutions, are key factors driving the adoption of floating wind turbines