Offshore Wind Market - Global Forecast 2025-2032

The offshore wind market is rapidly transforming global energy sourcing strategies, positioning itself as an increasingly essential solution for organizations prioritizing sustainable and diversified power generation. Industry leadership is now bringing offshore wind to the forefront of risk management and growth initiatives.

Market Snapshot: Offshore Wind Market Growth

The offshore wind market reached a total value of USD 45.96 billion in 2024 and is projected to grow to USD 50.62 billion by 2025, maintaining a robust compound annual growth rate (CAGR) of 10.11%. The longer-term forecast anticipates the sector attaining USD 99.36 billion by 2032. This significant expansion is underpinned by collective climate action, strengthened government policies, and steady technological advancement across the wind energy landscape. Adoption of large-scale projects and the development of resilient supply chains enable competitors in both established and emerging markets to enhance their strategic positioning. Executive teams are deploying innovative business models to navigate evolving regulations and scale their operations efficiently.

Scope & Segmentation

This report provides a detailed breakdown of the offshore wind sector’s supply chain, designed to equip senior decision-makers with the insight needed for effective resource allocation and strategic direction. Segmentation encompasses key aspects and technologies shaping the market:

• Turbine Types: Encompasses both fixed and floating turbine systems, enabling flexible deployment in diverse marine conditions and access to a wider range of viable locations.
• Substation Types: Highlights HVAC and HVDC options, with a focus on advanced converter solutions that facilitate seamless integration into modern power grids.
• Foundation Types: Covers gravity base, jacket, monopile, and suction bucket foundations, supporting adaptable installation across various seabed environments and regulatory contexts.
• Power Capacity: Assesses turbines from sub-3 MW up to models exceeding 10 MW, providing valuable benchmarks for capacity planning and portfolio development.
• Contract Models: Reviews structures such as Build Own Operate, Build Own Operate Transfer, and Engineering Procurement Construction, clarifying risk distribution and partnership opportunities for project owners.
• Installation Vessel Types: Outlines the use of floating cranes, heavy lift vessels, and jack-up vessels, ensuring operational efficiency for complex offshore construction.
• Project Stages: Analyzes the lifecycle from preconstruction through operational phases, offering support throughout all key project milestones.
• Regions: Delivers in-depth insights for the Americas, Europe, Middle East & Africa, and Asia-Pacific, with additional coverage of high-growth markets including China, India, and Japan.
• Leading Companies Profiled: Direct benchmarking includes key industry players such as Ørsted A/S, RWE Aktiengesellschaft, Equinor ASA, Iberdrola S.A., SSE plc, EnBW Energie Baden-Württemberg AG, Vattenfall AB, Shell plc, TotalEnergies SE, and BP p.l.c.

Key Takeaways

• Innovative turbine design and digital asset platforms facilitate entry into previously inaccessible marine zones, supporting flexible and scalable growth initiatives for energy portfolios.
• Collaboration between sectors and enhanced public-private partnerships are critical in building resilient supply networks, maintaining supply continuity amid changes in global trade patterns.
• Engineering advances in offshore foundations enable installations in deepwater and complex site conditions, giving operators the ability to adapt to diverse market and regulatory environments.
• Utilizing real-time asset management technologies increases operational efficiency, extends equipment life, and supports proactive maintenance strategies, helping to mitigate disruption risk.
• Variation in project delivery pace and approach stems from differences in regulatory landscape and workforce expertise, directly influencing deployment strategies across various international markets.

Tariff Impact: Navigating U.S. Regulatory Changes

Upcoming U.S. tariffs for 2025 are shifting supply chain strategies as industry participants invest more in nearshoring and elevate domestic manufacturing capabilities. Strengthened local partnerships and dedicated compliance efforts are contributing to a more stable project pipeline in the United States. Globally, major operators are refining business models to remain competitive under evolving regulatory and trade conditions within the offshore wind energy market.

Methodology & Data Sources

Comprehensive findings are based on direct interviews with key developers, equipment manufacturers, and regulatory authorities, as well as on-site validation. This research is further supported by vetted government documents, industry white papers, and proprietary databases. Every insight is subject to expert review to ensure both accuracy and strategic value for executive decision-making.

Why This Report Matters

• Enables effective segmentation by technology, vessel, and foundation, helping leaders optimize supplier selection and align capital allocation with diverse regional and global opportunities.
• Delivers clear guidance on regulatory and tariff shifts, enhancing executive teams’ ability to manage risk and ensure compliance in a complex policy landscape.
• Equips decision-makers with the latest intelligence on technology and operational developments, enabling agile investment and partnership choices aligned with global offshore wind trends.

Conclusion

The integration of advanced technologies and strategic alliances will keep shaping the evolution of the offshore wind sector. This report empowers senior leaders to adapt effectively to regulatory changes and identify emerging prospects for long-term growth.

Additional Product Information:

• Purchase of this report includes 1 year online access with quarterly updates.
• This report can be updated on request. Please contact our Customer Experience team using the Ask a Question widget on our website.