Offshore Wind Energy Market Expands as Turbine, Substructure, and Grid Innovations Drive Adoption | Valuates Reports

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Sep 17, 2025, 10:01 ET

BANGALORE, India, Sept. 17, 2025 /PRNewswire/ --

What is the Market Size of Offshore Wind?

The Global Offshore Wind Market was valued at USD 40610 Million in 2023 and is anticipated to reach USD 92990 Million by 2030, witnessing a CAGR of 12.3% during the forecast period 2024-2030.

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What Are the Key Factors Driving the Growth of the Offshore Wind Market?

The offshore wind market continues to evolve as a vital component of the global renewable energy portfolio, driven by increasing demand for clean, reliable, and scalable power solutions. Stakeholders from public and private sectors are aligning efforts to enhance technological, logistical, and financial feasibility. Market participants are expanding their scope through international collaborations, integrated digital systems, and modular infrastructure designs. This holistic ecosystem supports not only power generation but also economic development through job creation and industrial diversification. As climate resilience and sustainability dominate global discourse, offshore wind positions itself as a cornerstone solution with long-term benefits across environmental, economic, and social dimensions.

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TRENDS INFLUENCING THE GROWTH OF THE OFFSHORE WIND MARKET:

Turbines serve as the cornerstone of offshore wind infrastructure by converting wind energy into mechanical power and subsequently into electricity, making them central to the value chain. Their design improvements, including high-capacity blades and robust materials, have enabled installations in more remote, high-wind zones, increasing overall generation efficiency. As turbine technology evolves, developers can access deeper waters and stronger wind currents, significantly expanding potential project locations. Additionally, the modular nature of modern turbines simplifies assembly and maintenance, reducing downtime. Supply chain enhancements and collaborations between manufacturers and developers further streamline operations, making turbines more accessible. As global energy policies increasingly favor renewable sources, the emphasis on efficient, scalable turbines has become a defining factor accelerating offshore wind market expansion.

Substructures provide essential support to turbines in varying marine conditions, making them vital for long-term project stability and safety. Different substructure types, such as monopiles, jackets, and floating platforms, are chosen based on water depth and seabed characteristics, ensuring structural resilience and minimizing maintenance requirements. Their evolution enables projects to move further from shore, unlocking high-yield wind zones previously considered inaccessible. Innovations in material science and engineering have lowered installation costs and improved load distribution. These foundations also facilitate quicker deployment timelines, improving project turnaround. By accommodating deeper installations with more reliable frameworks, substructures have become key in broadening the scope and feasibility of offshore wind ventures across complex marine environments.

Deep water locations offer stronger and more consistent wind resources, contributing to higher power generation potential. Advances in floating turbine and mooring system technologies have unlocked these regions for commercial projects, reducing dependence on shallow-water sites. As developers seek to diversify project locations and minimize coastal congestion, deep water installations provide attractive alternatives with long-term scalability. Regulatory bodies are increasingly supporting such ventures with streamlined approvals and incentives. These areas also pose fewer environmental and social conflicts, accelerating project approvals. With industry stakeholders investing heavily in infrastructure and R&D to optimize deep water solutions, this segment is emerging as a game-changer, shaping the future growth trajectory of the offshore wind market.

Policy frameworks and government-backed incentives play a pivotal role in encouraging offshore wind developments. Subsidies, tax reliefs, and feed-in tariff schemes provide financial cushioning for early-stage projects and reduce investment risk. Additionally, public-private partnerships are fostering collaboration across sectors, streamlining regulatory compliance, and reducing project delays. Long-term procurement targets and renewable energy mandates compel utilities and corporations to invest in wind power solutions. By laying out clear roadmaps and grid integration strategies, governments instill confidence in investors and technology providers. These supportive ecosystems not only catalyze initial deployments but also ensure market stability, making government intervention one of the strongest non-technological forces accelerating offshore wind adoption globally.

Efficient integration of offshore wind farms into existing grid systems is crucial for seamless energy transmission and distribution. Innovations in subsea cabling and high-voltage transmission technologies have minimized energy loss during long-distance transport. Strategic investments in interconnectors enable cross-border electricity sharing, enhancing regional energy security. Grid operators are modernizing infrastructure to manage variable loads from renewable sources, incorporating AI-driven balancing mechanisms. Smart grid development ensures smoother communication between offshore sources and onshore substations. By addressing logistical challenges in real-time, improved grid readiness supports the viability of large-scale offshore wind farms. This infrastructure evolution is instrumental in ensuring that the energy harnessed at sea reaches urban and industrial centers efficiently.

Heightened global awareness around climate change is pressuring industries and governments to shift toward clean energy sources like offshore wind. International agreements and national decarbonization goals necessitate renewable energy capacity expansion, driving demand for offshore wind projects. Environmental assessments and certifications encourage the use of eco-friendly construction practices and materials. Offshore wind's minimal land footprint and low carbon emissions make it an ideal candidate for sustainable development. Additionally, collaborative frameworks with marine conservation bodies mitigate ecosystem disruption. The alignment of environmental policy with industrial execution ensures that the offshore wind sector not only meets energy needs but also adheres to ecological stewardship, bolstering long-term public and regulatory support.

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What are the major product types in the Offshore wind market?

Turbine
Substructure
Electrical Infrastructure

What are the main applications of the Offshore wind market?

Shallow Water
Transitional Water
Deep Water

Key Players in the Offshore wind market:

ADWEN – Specialized in offshore wind turbine design and supply, focusing on large-scale energy projects.
Ming Yang Smart Energy – Provides advanced offshore wind turbines with high capacity and efficiency for global markets.
Doosan Heavy Industries – Offers offshore wind power solutions and heavy engineering expertise for turbine manufacturing and installation.
General Electric (GE Renewable Energy) – Delivers Haliade-X and other offshore wind turbine technologies to drive large-scale renewable adoption.
MHI Vestas Offshore Wind – Known for high-performance offshore turbines and turnkey wind farm solutions.
Senvion – Develops and supplies offshore wind turbine systems with emphasis on reliability and innovation.
ABB Ltd – Provides grid integration, transmission, and electrical systems to connect offshore wind farms to national grids.
Siemens – Offers cutting-edge offshore wind turbine technologies and digital solutions for efficient energy output.
Siemens AG – Delivers integrated offshore wind power systems including turbines, service, and grid infrastructure.
Sinovel Wind – Manufactures offshore wind turbines tailored for large-scale deployment in Asia and beyond.

Which region dominates the Offshore wind market?

Europe leads the offshore wind market due to its early adoption, supportive regulatory frameworks, and advanced infrastructure, particularly in countries like the United Kingdom, Germany, and the Netherlands.

Asia-Pacific is rapidly expanding with major developments in China, Taiwan, South Korea, and Japan, where government incentives and coastal advantages are driving large-scale installations.

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What are some related markets to the Offshore Wind Market?

- Towers for Offshore Wind Turbines Market

- Offshore Wind Turbine Monopile Market

- Monopile, Tower and Jacket for Offshore Wind Market

- Offshore Wind Grouting Material Market was valued at USD 316 Million in the year 2024 and is projected to reach a revised size of USD 536 Million by 2031, growing at a CAGR of 8.2% during the forecast period.

- Offshore Wind Switchgear Market was valued at USD 6250 Million in the year 2024 and is projected to reach a revised size of USD 10142 Million by 2031, growing at a CAGR of 7.6% during the forecast period.

- Offshore Wind Power Consulting Services Market was valued at USD 247 Million in the year 2024 and is projected to reach a revised size of USD 348 Million by 2031, growing at a CAGR of 4.8% during the forecast period.

- Offshore Wind Installation Vessel Market was valued at USD 22.2 Million in the year 2024 and is projected to reach a revised size of USD 54.5 Million by 2031, growing at a CAGR of 13.9% during the forecast period.

- Offshore Mooring Chain for Floating Offshore Wind Market was valued at USD 149 Million in the year 2024 and is projected to reach a revised size of USD 1367 Million by 2031, growing at a CAGR of 37.9% during the forecast period.

- Wind Farm Asset Management Market was valued at USD 2283 Million in the year 2024 and is projected to reach a revised size of USD 3033 Million by 2031, growing at a CAGR of 4.2% during the forecast period.

- Offshore Wind Energy Infrastructure Market

- Gravity Anchors for Offshore Wind market was valued at USD 13.3 Million in 2023 and is anticipated to reach USD 20.5 Million by 2030, witnessing a CAGR of 5.5% during the forecast period 2024-2030.

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