Global Floating Offshore Wind Energy Market Expected to Surge with 60.1% CAGR by 2030

"Floating Offshore Wind Energy Unlocks the Power of Deep Ocean Winds, Driving Clean Energy, Economic Growth, and Global Sustainability"

Boston, Oct. 01, 2025 (GLOBE NEWSWIRE) -- According to the latest study from BCC Research, “Global Floating Offshore Wind Energy Market” is projected to grow from $1.7 billion in 2025 to $18 billion by the end of 2030, at a compound annual growth rate (CAGR) of 60.1% from 2025 to 2030.

This report provides a comprehensive analysis of the global market for floating offshore wind energy, segmented by components, floating platform technologies, water depth, turbine ratings, and country-specific developments. It presents market size both in monetary terms (millions of dollars) and in energy capacity (megawatts), offering a dual perspective on growth and scale. The report explores market dynamics, emerging technologies, and global trends, including the transformative impact of artificial intelligence (AI) on the industry. It also highlights evolving climate regulations, technical standards, and innovations shaping the sector. Strategic frameworks such as value chain analysis, Porter’s Five Forces, and SWOT analysis are included to assess competitive positioning, industry challenges, and opportunities for stakeholders.

This report is especially relevant now as floating offshore wind energy is rapidly gaining traction due to its ability to overcome the limitations of fixed-bottom offshore wind and meet the growing demand for clean, secure energy. While challenges like high costs and low product differentiation persist, strong government support and collaborative technological innovation are paving the way for broader adoption and cost reductions. These developments make floating offshore wind a promising and timely solution in the global transition to sustainable energy.

The factors driving the market’s growth include:

Lower Wind Energy Costs: Floating offshore wind is becoming more affordable due to better technology and larger-scale projects. This cost reduction makes it more attractive for investors and governments aiming for clean energy.

Strong R&D Focus: Intensive research is helping solve technical challenges like deep-water anchoring and turbine stability. Continuous innovation is key to making floating wind farms more efficient and reliable.

Link with Green Hydrogen: Floating wind farms can power green hydrogen production, especially in remote areas. This combination supports clean energy goals and helps decarbonize industries like transport and manufacturing.

Demand for Integrated EPCI Services: Developers prefer bundled solutions for engineering, procurement, construction, and installation (EPCI). It simplifies project management, reduces risks, and speeds the deployment of floating wind farms.

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Report Synopsis

Interesting facts:

• European countries are leading the global market with more than 230 MW of floating offshore wind energy installed capacity out of the global total of 293 MW.

• Tension Leg Platform (TLP) technology is promising as it is more compact and lightweight than other technologies. It simplifies installation and reduces costs. Recent innovations in TLPs include hybrid structures using reinforced concrete and steel to further cut costs and facilitate mass production.

• Hybrid systems are gaining more attention as they can integrate multiple energy sources like wind, solar, and wave energy. Start-ups such as ECO-TLP are developing hybrid designs to improve overall efficiency while minimizing costs.

Emerging startups:

• T-Omega Wind: T-Omega Wind is a U.S.-based company founded in 2020 by CEE associate professor Andrew Myers and senior research engineer Jim Papadopoulos. Its core innovation lies in a redesign of the traditional offshore wind turbine and its floating support structure, aiming to significantly reduce costs and expand the deployability of offshore wind. In 2023, it launched the 1/16 scale offshore wind turbine in New Bedford, Mass. The company aims to start testing and pre-certification of a full-scale, grid-connected turbine by 2026, with plans for commercial production launch within four years. A 10 MW turbine is intended to have a 198-meter rotor on a 119-meter-high pyramid.

• Triton Anchor: Triton Anchor, founded in 2022, is headquartered in Chelmsford, Mass. The company designs and manufactures anchoring solutions for the floating offshore wind industry. In 2024, the company raised $2.2 million in new grant funding to refine and scale its anchoring solutions. It also established its subsidiary, Triton Anchor Europe, in Scotland to focus on the robust European offshore wind market.

The report addresses the following questions:

1. What are the projected market size and growth rate?

• The global floating offshore wind energy market was valued at $1.5 billion in 2024 and is expected to reach $18 billion by the end of 2030, growing at a CAGR of 60.1%.

2. Which factors are driving the growth of the market?

• The market’s drivers include reduced costs of wind energy generation, increased focus on intensive R&D, synergy with green hydrogen, and increasing demand for integrated EPCI solutions.

3. Which market segments are covered in the report?

• The report segments the market based on the component, depth, floating platform technology, and turbine rating. Components include blades, towers, floating structure, and others. Floating platform technology includes spar-buoy, semi-submersible, TLP, barge, and hybrid systems. By depth, the classifications are ≤ 50 M, > 50 M to 100 M, and > 100 M. By turbine rating, the classifications are >3 to 8 MW, >8 to 12 MW, up to 3 MW, and more than 12 MW.

4. Which floating platform technology segment will be dominant through 2030?

• The semi-submersible floating platform technology will dominate the market through 2030.

5. Which country will dominate the market by the end of 2030?

• Norway holds the largest market share 30% of the market, followed by the U.K. and China. The growth is mainly attributed to capacity expansion, technology development, and infrastructure development, such as ports.

Market leaders include:

• AKER SOLUTIONS
• BLUEFLOAT ENERGY INTERNATIONAL S.L.U.
• BW IDEOL
• EKWIL
• EQUINOR ASA
• GE VERNOVA
• HEXICON
• OCEAN WINDS
• OCERGY INC.
• ORSTED A/S
• RWE
• Siemens GAMESA RENEWABLE ENERGY S.A.U.
• TOTALENERGIES
• VESTAS
• X1WIND

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