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Offshore Wind Turbines Market

The market for Offshore Wind Turbines was estimated at $14.3 billion in 2025; it is anticipated to increase to $33.4 billion by 2030, with projections indicating growth to around $77.6 billion by 2035.

Report ID:DS2406007
Author:Chandra Mohan - Sr. Industry Consultant
Published Date:
Datatree
Energy & Power
Renewable Energy
Offshore Wind Turbines
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Market Data
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Table of Contents

Global Offshore Wind Turbines Market Outlook

Revenue, 2025

$14.3B

Forecast, 2035

$77.6B

CAGR, 2026 - 2035

18.4%

The Offshore Wind Turbines industry revenue is expected to be around $14.3 billion in 2026 and expected to showcase growth with 18.4% CAGR between 2026 and 2035. This robust outlook underscores the rising strategic importance of Offshore Wind Turbines within global offshore wind energy infrastructure, as governments tighten climate regulations, corporates pursue long-term decarbonization strategies, and energy security concerns accelerate investment in large-scale offshore wind farms. The market is increasingly anchored by Shallow Water and Deepwater deployment locations, which together account for 100.0% of installed capacity, while Fixed Foundation turbines alone generated approximately $10.93 billion in industry revenue in 2025, highlighting both technology maturity and investor confidence in proven foundation designs. Additional growth impetus derives from supportive policy frameworks, declining levelized costs, and advances in digital monitoring, which collectively reinforce the role of Offshore Wind Turbines as a core enabler of national renewable energy targets and long-term sustainable power generation.

From a technological standpoint, Offshore Wind Turbines are characterized by high-capacity generators, larger rotor diameters, advanced aerodynamics, and corrosion-resistant components, allowing reliable operation in harsh marine environments across both shallow water sites and emerging deepwater projects. Their primary applications span utility-scale electricity production for coastal demand centers, integration into hybrid offshore wind energy hubs, and support for future green hydrogen value chains, with designs ranging from fixed foundation turbines in relatively shallow seas to next-generation floating foundations that unlock wind resources in deeper basins. Recent market trends include the deployment of larger multi-megawatt units, growing adoption of predictive maintenance and data analytics, the build-out of localized supply chains, and increased focus on grid stability and system integration, all of which are driving sustained demand and technological innovation across the global Offshore Wind Turbines landscape.

Offshore Wind Turbines market outlook with forecast trends, drivers, opportunities, supply chain, and competition 2025-2035
Offshore Wind Turbines Market Outlook

Market Key Insights

  • The Offshore Wind Turbines market is projected to grow from $14.3 billion in 2025 to $77.6 billion in 2035. This represents a CAGR of 18.4%, reflecting rising demand across Power Generation, Maritime Industrial Power Supply, and Green Hydrogen Production.

  • Siemens Gamesa Renewable Energy SA, Vestas Wind Systems A/S, and General Electric are among the leading players in this market, shaping its competitive landscape.

  • China and U.S. are the top markets within the Offshore Wind Turbines market and are expected to observe the growth CAGR of 17.7% to 25.8% between 2025 and 2030.

  • Emerging markets including Taiwan, Brazil and South Africa are expected to observe highest growth with CAGR ranging between 13.8% to 19.1%.

  • Transition like Shift Towards Bigger Turbines is expected to add $5 billion to the Offshore Wind Turbines market growth by 2030.

  • The Offshore Wind Turbines market is set to add $63.3 billion between 2025 and 2035, with manufacturer targeting key segments projected to gain a larger market share.

  • With

    rise in green energy investments, and

    Technological Advancements in Turbine Technology, Offshore Wind Turbines market to expand 441% between 2025 and 2035.

offshore wind turbines market size with pie charts of major and emerging country share, CAGR, trends for 2025 and 2032
Offshore Wind Turbines - Country Share Analysis

Opportunities in the Offshore Wind Turbines

Many island economies rely on imported diesel, creating an untapped market for floating foundation Offshore Wind Turbines installed in deep surrounding waters. New platform designs, modular mooring systems, and digital monitoring improve reliability for floating wind turbines and compact offshore wind farms. Globally, floating foundations are also projected to grow from $3.41 to $9.82 billion between 2025 and 2030, a 23.53% CAGR, with fastest expansion expected in island-focused renewable energy transition programs supported by coordinated public–private procurement frameworks and risk-sharing financing models.

Growth Opportunities in Europe and Asia-Pacific

In Europe, Offshore Wind Turbines are driven by binding decarbonization targets, carbon pricing, and mature auction frameworks, with Shallow Water deployment locations remaining most relevant due to established North Sea and Baltic offshore wind farms and lower levelized cost of energy relative to Deepwater sites; top opportunities center on repowering aging fixed-bottom assets, integrating Offshore Wind Turbines with green hydrogen production and cross-border grid integration projects, and leveraging port infrastructure upgrades for high-capacity turbine installation and maintenance; competitive dynamics are intense, with strong pressure on turbine pricing, accelerated innovation in larger rotor diameters, and vertical integration by utilities and energy majors, so product positioning should emphasize reliability in harsh marine conditions, optimized operations and maintenance, and turnkey project execution capabilities for large-scale Shallow Water clusters, while selectively investing in Deepwater-ready platforms for Atlantic transition markets.
In Asia-Pacific, Offshore Wind Turbines benefit from rapid electricity demand growth, energy security priorities, and industrial decarbonization policies, with Deepwater deployment locations particularly floating offshore wind expected to hold the highest long-term relevance as countries with limited shallow continental shelves, such as Japan and parts of Southeast Asia, scale deep water wind turbines beyond nearshore projects; top opportunities include early-mover investment in floating Offshore Wind Turbines, regional supply chain localization with shipyards and fabrication yards, and technology partnerships to deliver typhoon-resilient offshore wind farms with advanced grid integration and storage solutions; competition is intensifying as regional manufacturers, local EPCs, and diversified energy companies enter the market, so differentiation should focus on Deepwater and floating foundation expertise, modular turbine platforms that reduce installation risk, and financing models tailored to emerging markets that de-risk high-CAPEX deep water projects.

Market Dynamics and Supply Chain

01

Driver: Rising Global Renewable Energy Targets And Offshore Wind Farm Investments Driving Market Expansion

The offshore wind turbine market is also being driven by the dual factors of rising global renewable energy targets and significant offshore wind farm investments. Governments across Europe, Asia, and North America are also mandating ambitious carbon reduction goals, creating strong policy support for large-scale renewable power generation. These targets incentivize utilities and independent power producers to deploy high-capacity offshore wind turbines to meet growing electricity demand sustainably. Simultaneously, large capital investments in offshore wind farms, supported by private equity and green financing, enable the deployment of next-generation turbines with higher efficiency, taller towers, and larger rotor diameters. Together, these factors accelerate the adoption of offshore wind technology, enhance energy yield, and contribute to grid decarbonization, while attracting technological innovations such as floating turbines and advanced predictive maintenance systems that improve operational performance and reduce lifecycle costs.
Technological innovation in turbine design is also a key driver for the offshore wind market. Developments such as larger rotor diameters, higher hub heights, and advanced blade aerodynamics allow turbines to capture more consistent offshore winds, improving energy output. Floating and semi-submersible foundations enable installations in deeper waters, expanding potential sites. Integration of smart sensors, digital monitoring, and predictive maintenance reduces downtime and operational costs, enhancing overall project profitability. These technological trends make offshore wind a more competitive and reliable energy source, encouraging utilities and industrial players to invest in large-scale projects, thereby driving market growth and adoption across global regions.
02

Restraint: High Capital Costs And Extended Project Timelines Restrict Offshore Wind Expansion

Offshore wind turbines require substantial upfront capital investment and lengthy development timelines, which restrain market growth. The cost of turbine fabrication, specialized vessels for installation, and subsea cabling can significantly inflate project budgets. Securing permits, conducting environmental assessments, and building grid connections often take several years, delaying revenue generation for developers. For example, a planned offshore wind farm may face multi‑year approval processes that push back commissioning dates, increasing financing costs and reducing investor confidence. These financial and timeline barriers can discourage smaller players from entering the market and slow overall capacity additions.
03

Opportunity: Offshore Wind Turbines Powering European Green Hydrogen Production Facilities and Utility-Scale Offshore Wind Turbines for United States East Coast

Growing decarbonization targets in steel, chemicals, and heavy transport are creating a high-value opportunity to pair Offshore Wind Turbines with coastal electrolysis hubs across the North Sea and Baltic. Dedicated offshore energy corridors allow oversized arrays to feed hydrogen plants when power prices are low. Growth will be strongest for fixed-bottom foundations near major ports, while hybrid projects combining fixed-bottom foundations and selective floating units emerge through cross-border utility, oil and gas, and equipment manufacturer alliances, aligning long-term hydrogen offtake with offshore wind financing.
Rapid policy momentum, coastal load centers, and shallow Atlantic seabeds are creating a major opportunity for utility-scale Offshore Wind Turbines on the United States East Coast. Demand for offshore wind energy to decarbonize urban areas is accelerating, while grid integration investments reduce curtailment risk. Globally, fixed foundation Offshore Wind Turbines are forecast to expand from $10.93 to $23.55 billion between 2025 and 2030, a 16.6% CAGR, signaling strongest growth for fixed projects in this region, supported by long-term utility and industrial offtake contracts.
04

Challenge: Supply Chain Constraints And Skilled Workforce Shortages Affect Turbine Deployment Rates

Persistent supply chain bottlenecks and shortages of skilled labor are limiting the pace of offshore wind turbine installations. Key components such as large turbine blades, specialized foundations, and high‑voltage transformers face production backlogs due to limited manufacturing capacity. Additionally, the specialized skills needed for marine construction and turbine assembly are in short supply, causing scheduling delays and higher labor costs. For instance, ports and shipyards may struggle to secure qualified technicians or fabrication slots, slowing project completion and reducing revenue flows. These constraints can increase project costs and create regional disparities in deployment timelines.

Supply Chain Landscape

1

Component Manufacturing

Goldwind Science & Technology Co. Ltd.Mingyang Smart Energy Group Co. Ltd
2

Offshore Wind Turbines

Siemens Gamesa Renewable Energy SAVestas Wind Systems A/SGeneral Electric
3

Wind Farm Installation

Siemens Gamesa Renewable Energy SAVestas Wind Systems A/S
4

Grid Integration

Utility-Scale Power GenerationIndustrial Energy UsersCoastal Data Centers
Offshore Wind Turbines - Supply Chain

Use Cases of Offshore Wind Turbines in Power Generation & Maritime Industrial Power Supply

Power Generation : Offshore wind turbines are primarily used in large-scale power generation to supply electricity to national grids. Monopile and jacket foundation turbines with capacities ranging from 8 MW to over 15 MW are most common, designed to withstand harsh marine environments. Utilities and independent power producers deploy these turbines in offshore wind farms to generate renewable energy consistently. Their significant height and rotor diameter allow them to capture stronger and more consistent winds than onshore turbines. This results in higher capacity factors, improved energy yield, and reduced greenhouse gas emissions, supporting governments’ renewable energy targets and large-scale decarbonization initiatives.
Maritime Industrial Power Supply : For maritime industrial power supply, offshore wind turbines are installed to provide direct electricity to offshore platforms, shipping hubs, and port-based operations. Turbines with floating or semi-submersible foundations are preferred in deeper waters to ensure stability and efficient energy capture. Industries benefit from reliable power in remote marine locations, reducing dependence on diesel generators or other fossil-fuel-based sources. These installations help lower operational costs, minimize carbon footprint, and enhance energy security for maritime logistics, offshore mining, and aquaculture facilities, enabling continuous operations even in challenging offshore environments.
Green Hydrogen Production : Offshore wind turbines are increasingly integrated with green hydrogen production systems to generate clean hydrogen through electrolysis. High-capacity turbines with direct grid or electrolyzer coupling are used to supply consistent renewable power to offshore hydrogen facilities. This application supports industrial and energy transition goals by producing hydrogen without carbon emissions. Energy companies and utilities adopt this solution to store surplus renewable electricity as hydrogen, balance intermittent wind generation, and supply clean fuel for transportation, industrial processes, and power generation. The combination of offshore wind and electrolyzers enhances sustainability and promotes large-scale renewable energy utilization.

Recent Developments

Recent developments in offshore wind turbines emphasize scaling floating wind technology and improving turbine capacity to meet rising global demand for renewable energy. Manufacturers are deploying larger multi‑megawatt turbines with advanced blades and digital monitoring to increase energy yield and reduce operational costs. A key market trend is the rapid growth of deep‑water floating wind farms, which expands site potential beyond shallow continental shelves. This shift supports broader grid integration, enhances clean power generation, and drives investment in marine infrastructure and supply chain capabilities.

September 2025 : Synera Renewable Energy Group signed a contract with Siemens Gamesa Renewable Energy SA to supply 35 of its 14 MW offshore wind turbines for the 495 MW Formosa 4 offshore wind farm in Taiwan. The supply deal includes turbine delivery and long‑term maintenance, reinforcing Siemens Gamesa’s presence in the Asia‑Pacific offshore wind market.
July 2025 : Offshore developer Ocean Winds selected Siemens Gamesa as the turbine supplier for its BC‑Wind offshore project in the Polish Baltic Sea, securing the delivery of 14 MW wind turbines plus associated service maintenance, marking a key supply agreement in Central Europe’s emerging wind sector.
December 2024 : Vestas Wind Systems A/S reported a series of new orders in late 2024, including a significant 660 MW offshore wind turbine contract in EMEA, demonstrating continued market demand for its V236‑15 MW platforms across global offshore wind farms.

Impact of Industry Transitions on the Offshore Wind Turbines Market

As a core segment of the Renewable Energy industry, the Offshore Wind Turbines market develops in line with broader industry shifts. Over recent years, transitions such as Shift Towards Bigger Turbines and Emergence of Floating Turbines have redefined priorities across the Renewable Energy sector, influencing how the Offshore Wind Turbines market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.
01

Shift Towards Bigger Turbines

The accelerating shift towards bigger Offshore Wind Turbines is reshaping offshore wind energy economics, with larger rotor diameters and higher nameplate capacities driving superior efficiency per installed megawatt. By reducing foundation, installation, and maintenance costs per unit of output and improving higher capacity factors, next-generation turbine technology is expected to add approximately $5 billion to market growth by 2030. This scale-up enables large-scale offshore wind projects and emerging floating wind farms to achieve more competitive levelized cost of energy, directly supporting national renewable energy targets. As developers prioritize fewer, more powerful machines, project design, grid integration, and supply chains are being optimized around high-capacity platforms, reinforcing Offshore Wind Turbines as a core asset class in global renewable energy infrastructure.
02

Emergence of Floating Turbines

The emergence of floating turbines is transforming the offshore wind turbine market by enabling installations in deeper waters where fixed‑bottom foundations are impractical. These floating platforms, often using semi-submersible or spar-buoy designs, allow developers to harness stronger and more consistent winds, increasing energy yield. This transition is impacting associated industries, including marine engineering, shipbuilding, and subsea cabling, as specialized vessels and installation techniques are required. For example, energy companies and port operators are adapting infrastructure to accommodate floating turbine assembly and deployment. Additionally, floating turbines support renewable integration in regions previously inaccessible for offshore wind, expanding opportunities for electricity generation, green hydrogen production, and industrial energy supply from offshore sources.