The global offshore wind energy market size reached USD 14.6 Billion in 2024. Looking forward, the market is projected to reach USD 41.7 Billion by 2033, exhibiting a growth rate (CAGR) of 12.38% during 2025-2033.
Offshore wind energy relies on wind turbines located in ocean waters to generate electricity, which is transmitted via cables to the mainland grid. It is a cost-effective, abundant, and clean source of energy. It can provide reliable and affordable renewable power near coastal energy load centers wherein there is a scarcity of sites for large-scale renewable energy development. It helps reduce greenhouse gas (GHG) emissions, increase energy security and diversity, create jobs, and promote sustainable development. At present, there is a rise in the adoption of renewable sources of energy production and consumption across the globe, which is catalyzing the demand for offshore wind energy.
2. What is the expected growth rate of the global offshore wind energy market during 2025-2033?
3. What are the key factors driving the global offshore wind energy market?
4. What has been the impact of COVID-19 on the global offshore wind energy market?
5. What is the breakup of the global offshore wind energy market based on the component?
6. What is the breakup of the global offshore wind energy market based on the capacity?
7. What is the breakup of the global offshore wind energy market based on the location?
8. What are the key regions in the global offshore wind energy market?
9. Who are the key players/companies in the global offshore wind energy market?
Offshore wind energy relies on wind turbines located in ocean waters to generate electricity, which is transmitted via cables to the mainland grid. It is a cost-effective, abundant, and clean source of energy. It can provide reliable and affordable renewable power near coastal energy load centers wherein there is a scarcity of sites for large-scale renewable energy development. It helps reduce greenhouse gas (GHG) emissions, increase energy security and diversity, create jobs, and promote sustainable development. At present, there is a rise in the adoption of renewable sources of energy production and consumption across the globe, which is catalyzing the demand for offshore wind energy.
Offshore Wind Energy Market Trends:
There is presently a considerable increase in the number of offshore wind farms worldwide. This, in confluence with the burgeoning energy sector, represents one of the key factors impelling the growth of the market. Moreover, onshore wind energy is nowadays near the development limit in several countries on account of the visual and noise impact constraints that make it increasingly challenging to find appropriate sites. Besides this, physical blockages from buildings and landscapes like hills or mountains can also cause inconsistencies in production, and consequently, onshore wind cannot fails in generating energy year-round. However, recent developments in offshore wind energy are reducing visual impacts, minimizing turbulence, and lowering noise constraints. It is also more productive than land-based wind energy due to higher and more consistent wind speeds, which is impelling the market growth. Furthermore, the construction of offshore wind turbine plants is more feasible as large offshore turbines can be transported using barges or ships. This, coupled with increasing investments in upcoming offshore wind power projects by governing authorities, is driving the market.Market Segmentation:
This report provides an analysis of the key trends in each sub-segment of the global offshore wind energy market report, along with forecasts at the global, regional and country level from 2025-2033. The report categorizes the market based on component, foundation type, capacity and location.Breakup by Component:
- Turbine
- Substructure
- Electrical Infrastructure
- Others
Breakup by Foundation Type:
- Fixed Foundation
- Floating Foundation
Breakup by Capacity:
- Less Than 5 MW
- Greater than or Equal to 5 MW
Breakup by Location:
- Shallow Water
- Transitional Water
- Deep Water
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being E.ON SE, Électricité de France S.A., Equinor ASA, General Electric Company, Nordex SE, Northland Power Inc., Ørsted A/S, Siemens Gamesa Renewable Energy S.A. (Siemens Energy AG), Suzlon Energy Limited, Vestas Wind Systems A/S and Xinjiang Goldwind Science & Technology Co. Ltd.Key Questions Answered in This Report
1. What was the size of the global offshore wind energy market in 2024?2. What is the expected growth rate of the global offshore wind energy market during 2025-2033?
3. What are the key factors driving the global offshore wind energy market?
4. What has been the impact of COVID-19 on the global offshore wind energy market?
5. What is the breakup of the global offshore wind energy market based on the component?
6. What is the breakup of the global offshore wind energy market based on the capacity?
7. What is the breakup of the global offshore wind energy market based on the location?
8. What are the key regions in the global offshore wind energy market?
9. Who are the key players/companies in the global offshore wind energy market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Offshore Wind Energy Market
6 Market Breakup by Component
7 Market Breakup by Foundation Type
8 Market Breakup by Capacity
9 Market Breakup by Location
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- E.ON SE
- Électricité de France S.A.
- Equinor ASA
- General Electric Company
- Nordex SE
- Northland Power Inc.
- Ørsted A/S
- Siemens Gamesa Renewable Energy S.A. (Siemens Energy AG)
- Suzlon Energy Limited
- Vestas Wind Systems A/S and Xinjiang Goldwind Science & Technology Co. Ltd.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 136 |
| Published | May 2025 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 14.6 Billion |
| Forecasted Market Value ( USD | $ 41.7 Billion |
| Compound Annual Growth Rate | 12.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
