Off-Shore Wind - Global Strategic Business Report

The global market for Off-Shore Wind was estimated at US$38.9 Billion in 2024 and is projected to reach US$95.0 Billion by 2030, growing at a CAGR of 16.0% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. The report includes the most recent global tariff developments and how they impact the Off-Shore Wind market.

Global Off-Shore Wind Market - Key Trends & Drivers Summarized

Offshore wind energy is rapidly emerging as a frontrunner in the renewable energy sector, showing significant potential to outpace its onshore counterpart in various aspects. This shift is fueled by several key factors that highlight the inherent advantages and growing appeal of offshore wind farms. Offshore wind farms benefit from higher and more consistent wind speeds compared to onshore locations. The absence of land-based obstacles (such as buildings or mountains) at sea reduces wind turbulence, allowing wind turbines to operate more efficiently and generate more electricity. This advantage translates into higher energy yields and potentially lower costs per megawatt-hour of electricity produced. It is therefore little surprise that offshore wind farms have been attracting significant attention in recent years, with the associated innovations outpacing the developments made in the onshore sector. While offshore wind farms are located in the sea and get powered by wind blowing from the land towards the sea, onshore wind farms are located on the land and utilize wind blowing from the sea towards the land.

The technological advancements in offshore wind energy have been remarkable, driving down costs and increasing the efficiency and capacity of wind turbines. Innovations such as floating wind turbines are opening up new possibilities for deeper waters where traditional fixed-bottom turbines are not feasible. The integration of advanced materials, improved blade designs, and more efficient grid connections has also contributed to the sector`s growth. Additionally, offshore wind farms benefit from economies of scale, as larger projects can be developed to harness significant amounts of energy. Governments worldwide are recognizing the potential of offshore wind and are offering substantial policy support, including subsidies, favorable regulatory frameworks, and long-term planning incentives. These measures are critical in accelerating the deployment of offshore wind and achieving national and international renewable energy targets.

The growth in the offshore wind market is driven by several factors. The increasing demand for clean and sustainable energy from both governments and consumers is pushing for greater investment in offshore wind projects. The commitment to reduce carbon emissions and transition to a low-carbon economy is another significant driver, with many countries setting ambitious renewable energy targets that include substantial contributions from offshore wind. Advances in turbine technology have led to more efficient and reliable systems, reducing the cost of energy production and making offshore wind more competitive with traditional energy sources. Furthermore, the development of robust supply chains and the expansion of port infrastructure are facilitating the construction and maintenance of offshore wind farms. Financial innovations, such as green bonds and new investment models, are also attracting capital to the sector. Lastly, public awareness and support for renewable energy continue to grow, further bolstering the market for offshore wind.

SCOPE OF STUDY:

The report analyzes the Off-Shore Wind market in terms of units by the following Segments, and Geographic Regions/Countries:

• Segments: Component (Turbine Component, Substructure Component, Electrical Infrastructure Component, Other Components); Location (Shallow Water Location, Transitional Water Location, Deep Water Location)
• Geographic Regions/Countries: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Turbine Component segment, which is expected to reach US$46.3 Billion by 2030 with a CAGR of a 17.0%. The Substructure Component segment is also set to grow at 16.4% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, valued at $6.5 Billion in 2024, and China, forecasted to grow at an impressive 17.6% CAGR to reach $14.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Off-Shore Wind Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Off-Shore Wind Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Off-Shore Wind Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of players such as ABB Ltd., Doosan Enerbility Co., Ltd., E.ON SE, EEW GROUP, Engie SA and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 60 companies featured in this Off-Shore Wind market report include:

• ABB Ltd.
• Doosan Enerbility Co., Ltd.
• E.ON SE
• EEW GROUP
• Engie SA
• General Electric
• Ørsted A/S
• Shanghai Electric Wind Power Group Co., Ltd.
• Siemens Gamesa Renewable Energy SA
• Vestas Wind Systems A/S
• Xinjiang Goldwind Science & Technology Co., Ltd.

This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis. Key updates include:

• Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
• Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
• Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
• Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
• Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
• Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
• Complimentary Update: Buyers receive a free July 2025 update with finalized tariff impacts, new trade agreement effects, revised projections, and expanded country-level coverage.