Offshore Wind Turbine Market Size, Share, Growth, Trends, and Global Industry Analysis: By Location (Shallow Water, Deep Water),  By Foundation (Floating, Fixed, Monopile, Tripod, Gravity base, Jacket, Others),  By Capacity (Less than 5MW, 5MW - 10 MW, More than 10 MW),  By End-User (Residential, Commercial) and Region Forecast 2019-2030

Offshore Wind Turbine Market size was valued at US$ 21,441.8 million in 2023 and is poised to grow at a 8.3% from 2024 to 2030. The global market provides a detailed overview of the global Offshore Wind Turbines market, and that can be segmented by Location, Foundation, Capacity, and end user. By Location, the global market has been segmented into Shallow Water and deep water. The shallow water Offshore Wind Turbines segment is likely to be the largest and fastest-growing segment in terms of location.

Based on the foundation, the global Offshore Wind Turbines market is segmented into Floating, Fixed, Monopile, Tripod, Gravity base, Jacket, and Others. Among these, the floating segment is expected to have the fastest-growing market during the forecast period. Based on capacity, the global Offshore Wind Turbines market is segmented into Less than 5MW, 5MW-10 MW, and More than 10 MW. The 5MW-10 MW segment accounts for the largest share in 2021. The 5MW segment is the second-largest share during the forecast period 2022-2028. Based on end users, the global Offshore Wind Turbines market is segmented into Residential and Commercial Greenhouse. The Commercial segment accounts for the largest share in 2022.

Key Developments

• In January 2022, Repower Renewable revealed its decision to invest roughly EUR 1.5 billion in constructing a 495 MW floating offshore wind farm in Italy. The project will include 33 wind turbines, each having a 15 MW capacity, mounted on floating foundations.
• In Nov 2021, the UK government announced that the Scottish and Welsh governments will receive US$ 218 million in assistance from the United Kingdom government to construct floating offshore wind ports.