Floating Wind Power Market Size, Share, Growth Analysis Report and Forecast Trends (2026-2035)

Key Trends in the Market

Floating wind turbines are installed over floating structures and stabilised by moorings and anchors. The way the structure's design distributes masses and weights makes up the floating wind farm. The concrete, steel, or hybrid foundation that provides buoyancy and stability for the installed wind turbine is known as a floating offshore wind platform (FOWP).

• The ambitious goals of various governments to reduce carbon emissions and achieve carbon neutrality are aiding the floating wind power market growth. The increasing power consumption by consumers and the rising investments by governments of several countries in the renewable energy sector are fostering the adoption of renewable energy sources such as solar and wind, supporting the market expansion.

• As floating turbines and platforms can be constructed and installed on land and then towed to the offshore installation site, several advantages, such as the possibility of minimal environmental impact and ease of manufacture and installation are provided, boosting the market growth.

• Rapid advancements such as aerodynamic upgrades, development of enhanced stability systems, and scaling up of floating wind farms are helping in enhancing the efficiency, stability, and scalability of turbines, which drives the market demand.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Floating Wind Power Market Segmentation

Market Share by Turbine Capacity

As per the floating wind power market analysis, the 3 MW–5 MW segment holds a significant share of the market in terms of turbine capacity. The average capacity of recently constructed wind turbines in the United States in 2022 stood at 3.2 megawatts (MW), marking an increase of 7% from 2021 and 350% from 1998–1999. The percentage of turbines of 3.5 MW or greater increased in 2021–2022, as did the number of turbines installed in the 2.75–3.5 MW range. Lower costs are ultimately achieved because fewer turbines are required to produce the same quantity of energy across a wind farm when the capacity of the turbines is higher.

Market Share by Region

North America holds a significant floating wind power market share due to massive government investments, construction of floating wind power projects such as the US east coast floating wind farm, floating wind farms on the west coast, and the provision of incentives to households utilising renewable energy sources. With bold plans to add 15 GW of floating wind power by 2035 and 110 GW of offshore wind by 2050, the United States is laying the groundwork to significantly boost its green economy, supporting the market expansion in North America and bolstering the overall floating wind power market demand.

Competitive Landscape

Other key players in the floating wind power market include Vestas Wind Systems A/S, Equinor ASA, Doosan Enerbility Co. Ltd., Goldwind Science & Technology Co., Ltd., Marubeni Corporation, Flowocean AB, and OW OFFSHORE S.L., among others.

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United States Wind Power Market