Offshore Wind Turbine Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Offshore Wind Turbine Market Report is Segmented by Location (shallow Water and Deepwater), Foundation Type (fixed Foundation and Floating Foundation), Capacity (less Than 5 MW and Above 5 MW), and Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). The Report Offers the Market Size and Forecasts for Offshore Wind Turbines in Revenue (USD) for all the Above Segments.

Offshore Wind Turbine Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Offshore Wind Turbine Market Size

Offshore Wind Turbine Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 24.84 Billion
Market Size (2030) USD 36.76 Billion
CAGR (2025 - 2030) 8.15 %
Fastest Growing Market Europe
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Offshore Wind Turbine Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Offshore Wind Turbine Market Analysis

The Offshore Wind Turbine Market size is estimated at USD 24.84 billion in 2025, and is expected to reach USD 36.76 billion by 2030, at a CAGR of 8.15% during the forecast period (2025-2030).

Over the medium period, factors such as increasing share of renewables in the power generation mix, efforts to reduce the reliance on fossil fuel-based power generation, and regulations on energy efficiency are driving the market growth.

On the other hand, adopting clean energy sources like solar and other alternatives will likely hinder the market’s growth.

Nevertheless, the integration of AI, IoT, robotics, and data analytics in offshore wind turbines is expected to enable advanced condition monitoring and predictive maintenance, resulting in increased efficiency and reduced operational and maintenance costs, which may provide growth opportunities in the deployment of offshore wind turbines in the future.

Europe is expected to have a significant share in the market during the forecast period, as different European countries are exploring the offshore wind energy segment.

Offshore Wind Turbine Industry Overview

The offshore wind turbine market is moderately fragmented. Some of the key players in the market (in no particular order) include Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, General Electric Company, Nordex SE, and Senvion SA., among others.

Offshore Wind Turbine Market Leaders

  1. Siemens Gamesa Renewable Energy SA

  2. General Electric Company

  3. Nordex SE

  4. Senvion SA

  5. Vestas Wind Systems AS

  6. *Disclaimer: Major Players sorted in no particular order
Offshore Wind Turbine Market Concentration
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Offshore Wind Turbine Market News

  • July 2023: Ocean Winds agreed to develop offshore wind projects off the coast of Victoria, Australia. The deal is a joint venture between France’s Engie and Portuguese electric utilities company EDP. The joint venture is looking to build three wind farms totaling 4 GW in the Gippsland area, declared Australia’s first offshore wind zone.
  • March 2023: India announced the tender for sea-bed leasing for offshore wind projects. The tender will likely be for four blocks of sea bed in the Gulf of Mannar, off the coast of southern Tamil Nadu, each of which can accommodate 1 GW of wind power plants. Bidders will be given marks for their technical capabilities (70 percent) and the lease rent they offer for the sea bed (30 percent).

Offshore Wind Turbine Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD, till 2029
  • 4.3 Key Offshore Wind Projects
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies and Regulations
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.1.1 Rising Energy Demand
    • 4.6.1.2 The Increasing Share of Renewables in the Power Generation Mix
    • 4.6.2 Restraints
    • 4.6.2.1 Adopting Clean Energy Sources Like Solar and Other Alternatives
  • 4.7 Supply Chain Analysis
  • 4.8 Porter's Five Forces Analysis
    • 4.8.1 Bargaining Power of Suppliers
    • 4.8.2 Bargaining Power of Consumers
    • 4.8.3 Threat of New Entrants
    • 4.8.4 Threat of Substitutes Products and Services
    • 4.8.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Location of Deployment
    • 5.1.1 Shallow Water
    • 5.1.2 Deepwater
  • 5.2 Foundation Type
    • 5.2.1 Fixed Foundation
    • 5.2.2 Floating Foundation
  • 5.3 Capacity
    • 5.3.1 Less than 5 MW
    • 5.3.2 Above 5 MW
  • 5.4 Geography
    • 5.4.1 North America
    • 5.4.1.1 United States of America
    • 5.4.1.2 Canada
    • 5.4.1.3 Rest of the North America
    • 5.4.2 Europe
    • 5.4.2.1 United Kingdom
    • 5.4.2.2 Germany
    • 5.4.2.3 Denmark
    • 5.4.2.4 Netherlands
    • 5.4.2.5 Rest of the Europe
    • 5.4.3 Asia-Pacific
    • 5.4.3.1 China
    • 5.4.3.2 Japan
    • 5.4.3.3 India
    • 5.4.3.4 South Korea
    • 5.4.3.5 Rest of the Asia-Pacific
    • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of the South America
    • 5.4.5 Middle-East and Africa
    • 5.4.5.1 United Arab Emirates
    • 5.4.5.2 Saudi Arabia
    • 5.4.5.3 Rest of the Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Vestas Wind Systems AS
    • 6.3.2 Siemens Gamesa Renewable Energy SA
    • 6.3.3 General Electric Company
    • 6.3.4 Nordex SE
    • 6.3.5 Senvion SA
    • 6.3.6 Suzlon Energy Ltd
    • 6.3.7 Xinjiang Goldwind Science & Technology Co. Ltd.
    • 6.3.8 Guodian United Power Technology Company Limited
    • 6.3.9 Enercon GmbH
    • 6.3.10 Envision Energy Limited
    • 6.3.11 Hitachi Ltd.
  • *List Not Exhaustive
  • 6.4 Market Ranking/Share Analysis

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 The Integration of AI, IoT, Robotics, and Data Analytics in Offshore Wind Turbines
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Offshore Wind Turbine Industry Segmentation

Offshore wind turbines operate by transforming the kinetic energy in the wind over water into rotational kinetic energy used to generate electricity. Turbines can be installed both in ocean waters and inland lakes and are typically around 80-100 meters high with a rotor blade diameter of 20-50 meters.

The offshore wind turbine market is segmented by location, foundation type, capacity, and geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). By location, the market is segmented into shallow water and deep water. By foundation type, the market is segmented into fixed foundation and floating foundation. By capacity, the market is segmented into less than 5 MW and above 5 MW. 

The report offers the market size and forecasts for offshore wind turbines in revenue (USD) for all the above segments.

For each segment, the market sizing and forecasts have been done based on revenue (USD).

Location of Deployment Shallow Water
Deepwater
Foundation Type Fixed Foundation
Floating Foundation
Capacity Less than 5 MW
Above 5 MW
Geography North America United States of America
Canada
Rest of the North America
Europe United Kingdom
Germany
Denmark
Netherlands
Rest of the Europe
Asia-Pacific China
Japan
India
South Korea
Rest of the Asia-Pacific
South America Brazil
Argentina
Rest of the South America
Middle-East and Africa United Arab Emirates
Saudi Arabia
Rest of the Middle-East and Africa
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Offshore Wind Turbine Market Research FAQs

How big is the Offshore Wind Turbine Market?

The Offshore Wind Turbine Market size is expected to reach USD 24.84 billion in 2025 and grow at a CAGR of 8.15% to reach USD 36.76 billion by 2030.

What is the current Offshore Wind Turbine Market size?

In 2025, the Offshore Wind Turbine Market size is expected to reach USD 24.84 billion.

Who are the key players in Offshore Wind Turbine Market?

Siemens Gamesa Renewable Energy SA, General Electric Company, Nordex SE, Senvion SA and Vestas Wind Systems AS are the major companies operating in the Offshore Wind Turbine Market.

Which is the fastest growing region in Offshore Wind Turbine Market?

Europe is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Offshore Wind Turbine Market?

In 2025, the Asia Pacific accounts for the largest market share in Offshore Wind Turbine Market.

What years does this Offshore Wind Turbine Market cover, and what was the market size in 2024?

In 2024, the Offshore Wind Turbine Market size was estimated at USD 22.82 billion. The report covers the Offshore Wind Turbine Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Offshore Wind Turbine Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Offshore Wind Turbine Industry Report

Statistics for the 2025 Offshore Wind Turbine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Offshore Wind Turbine analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.