Offshore Wind Turbine Market To Surpass US$50 Billion By 2030

(MENAFN- EIN Presswire) Global offshore wind turbine market is anticipated to reach US$50.176 billion in 2030 from US$29.144 billion in 2025, reflecting robust growth.

The offshore wind turbine market is witnessing transformative growth driven by innovation, strategic expansion and increasing adoption of renewable energy solutions.” - AnalystNOIDA, INDIA, January 10, 2025 /EINPresswire / -- The offshore wind turbine market is anticipated to grow at a CAGR of 11.48% reaching a market size of US$50.176 billion in 2030 from US$29.144 billion in 2025, reflecting robust growth in offshore wind technology.
Offshore wind turbines harness wind energy using large blades by capturing the energy from the wind to generate electricity . These turbines are much larger, almost 5 times larger than onshore wind turbines. The electricity generated by the turbines is typically transmitted to the shore through undersea cables.
The increased research and development in offshore wind turbines and related technology is helping to increase efficiency and thus reducing the cost. Also, growing demand for renewable energy is anticipated to boost the offshore wind turbine market expansion as there is a rising trend of greenhouse gas emissions. Therefore, the world's attention is turning more to the provision of sustainable energy, which has not been in the existing cyclic trends. In this respect, governments and electric utility companies that wish to end their dependency on fossil fuels find offshore wind turbines a suitable economic option since they provide clean and renewable energy. The global energy scenario, therefore, is undergoing a radical transformation.
The offshore wind turbine market is witnessing transformative growth driven by innovation, strategic expansion, and increasing adoption of renewable energy solutions. The market is driven by projects that enhance efficiency, scalability, and sustainability in offshore wind energy. One such example is the launch of a project on a pilot basis using a floating wind turbine by TotalEnergies in August 2024. This is a first-of-its-kind initiative to tackle decarbonisation by situating a 3 MW floating wind turbine, 220 km off the east coast of Scotland, 2 km west of the Culzean platform. By the end of 2025, this turbine should be fully operational, providing about 20% of Culzean's power needs and lowering its greenhouse gas emissions. Ocergy's modular, lightweight, semi-submersible floater hull will support the turbine, enabling quick assembly and cost savings and shaping the offshore wind turbine market.
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The offshore wind turbine market by type is segmented into monopile, tripod, jacketed, and floating. A Monopile Foundation is perhaps the simplest and most effective method of installing offshore wind turbines as it consists of a lone steel pile directly implanted into the ocean floor and is used widely due to low costs, reliability, and ease of construction. They are also very applicable for offshore wind projects since they are quite uncomplicated to produce and deploy. On the other hand, a tripod refers to a type of foundation structure, consisting of three large, heavy steel legs, in deep waters where monopiles are not feasible. Floating turbines are made on a floating structure rather than a fixed foundation like monopiles and tripods and are ideal for places in the deep sea where others are not feasible. During the forecast period, monopile foundations will dominate the market share while floating turbines will be an emerging segment.
The offshore wind turbine market by capacity is segmented into less than 5 MW and above 5 MW. Less than 5 MW are smaller turbines and are generally used in the sea where water is shallower and low penetration is needed. While above 5 MW are larger turbines ranging from 6 MW to 15MW and are used where deep penetration is needed, During the forecast period, the“Above 5MW” will continue dominating the market as it is widely demanded for its cost-efficiency.
Based on geography, Asia-Pacific would be the fastest-growing market in the offshore wind turbine market. Countries of Asia-Pacific are increasingly focusing on renewable clean energy production and thus, they are prioritizing offshore wind systems. The focus on achieving clean energy targets through increasing research & development along with collaboration with European countries for technology transfer is driving the market growth.
The report includes the major players operating in the global facial care market: Siemens Gamesa Renewable Energy, MHI Vestas, Sea Wind, Shanghai Electric, 4C Offshore, Goldwind, Envision, GE Renewable Energy, XEMC, Nordex SE, Hitachi Ltd, Orsted, L&T Hydrocarbon Engineering, and EnBW.
The market analytics report segments the offshore wind turbine market as follows:
.By Type
oMonopile
oTripod
oJacketed
oFloating
.By Capacity
oLess than 5 MW
oAbove 5 MW
.By Geography
.North America
oUSA
oCanada
oMexico
.South America
oBrazil
oArgentina
oOthers
.Europe
oGermany
oFrance
oUnited Kingdom
oSpain
oOthers
.Middle East and Africa
oSaudi Arabia
oUAE
oIsrael
oOthers
.Asia Pacific
oChina
oJapan
oIndia
oSouth Korea
oIndonesia
oTaiwan
oOthers

Companies Profiled:
.Siemens Gamesa Renewable Energy
.MHI Vestas
.Sea Wind
.Shanghai Electric
.4C Offshore
.Goldwind
.Envision
.GE Renewable Energy
.XEMC
.Nordex SE
.Hitachi Ltd
.Orsted
.L&T Hydrocarbon Engineering
.EnBW

Harsh Sharma
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
email us here

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