Market Size of Floating Offshore Wind Power Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 0.94 gigawatt |
| Market Volume (2029) | 22.29 gigawatt |
| CAGR (2024 - 2029) | 88.36 % |
| Fastest Growing Market | Europe |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Floating Offshore Wind Power Market Analysis
The Floating Offshore Wind Power Market size in terms of installed base is expected to grow from 0.94 gigawatt in 2024 to 22.29 gigawatt by 2029, at a CAGR of 88.36% during the forecast period (2024-2029).
- Over the medium term, rising investments in offshore renewable wind energy projects, coupled with advanced and readily accessible offshore wind turbine technologies, are expected to be major drivers of the floating offshore wind market during the forecast period.
- On the other hand, tough competition from alternate renewable energy markets will restrain the floating offshore wind market during the forecast period.
- Nevertheless, floating offshore wind energy is becoming more popular in developing untapped deep-water prospects favorable for floating structures, providing ample opportunities for the market players.
- Europe is expected to dominate the floating offshore wind market during the forecast period.
