Floating Offshore Wind Power Market Set to Reach $2.3 Billion by 2030

Floating Offshore Wind Power Market Report

The Business Research Company’s Floating Offshore Wind Power Global Market Report 2026 – Market Size, Trends, And Forecast 2026-2035

LONDON, GREATER LONDON, UNITED KINGDOM, May 12, 2026 /EINPresswire.com/ -- Floating Offshore Wind Power market to surpass $2 billion by 2030. In comparison, the Offshore Wind market, which is considered as its parent market, is expected to be approximately $120 billion by 2030, with Floating Offshore Wind Power to represent around 2% of the parent market. Within the broader Utilities industry, which is expected to be $9,379 billion by 2030, the Floating Offshore Wind Power market is estimated to account for nearly 0.02% of the total market value.

Which Will Be The Biggest Region In The Floating Offshore Wind Power Market In 2030?
Asia Pacific will be the largest region in the floating offshore wind power market in 2030, valued at $1.24 billion. The market is expected to grow from $0.12 billion in 2025 at a compound annual growth rate (CAGR) of 60%. The exponential growth can be attributed to increasing deployment of pilot and commercial-scale floating wind projects across deep-water coastlines, rising energy demand from rapidly industrializing economies, favorable offshore wind resource availability in countries such as Japan and South Korea, advancements in floating platform engineering and anchoring systems, and growing participation of regional utilities and energy companies in large-scale renewable energy investments.

Which Will Be The Largest Country In The Global Floating Offshore Wind Power Market In 2030?
China will be the largest country in the floating offshore wind power market in 2030, valued at $0.96 billion. The market is expected to grow from $0.11 billion in 2025 at a compound annual growth rate (CAGR) of 54%. The exponential growth can be attributed to aggressive offshore renewable capacity expansion targets, increasing involvement of state-owned enterprises in floating wind demonstration projects, strong domestic manufacturing ecosystem for wind turbines and components, rapid technological localization to reduce dependency on imports, and expanding grid infrastructure to integrate offshore renewable power into mainland energy systems.

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What Will Be The Largest Segment In The Floating Offshore Wind Power Market In 2030?
The floating offshore wind power market is segmented by component into mooring systems, platforms, subsea cables, and turbines. The turbines market will be the largest segment of the floating offshore wind power market segmented by component, accounting for 42% or $1 billion of the total in 2030. The turbines market will be supported by continuous scaling of turbine capacity to improve energy output, increasing adoption of high-efficiency blades and generators designed for offshore conditions, growing investments in next-generation turbine designs optimized for floating structures, rising focus on durability and performance in harsh marine environments, and ongoing innovation aimed at reducing levelized cost of energy (LCOE) for floating wind projects.

The floating offshore wind power market is segmented by technology into floating wind turbine, hydrodynamic floating structure, and other technologies.
The floating offshore wind power market is segmented by water depth into shallow water, transitional water, and deep water.
The floating offshore wind power market is segmented by turbine capacity into up to 3 MW, 3 MW – 5 MW, and above 5 MW.
The floating offshore wind power market is segmented by application into hydrogen production, off-grid power generation, and utility-scale power generation.

What Is The Expected CAGR For The Floating Offshore Wind Power Market Leading Up To 2030?
The expected CAGR for the floating offshore wind power market leading up to 2030 is 45%.

What Will Be The Growth Driving Factors In The Global Floating Offshore Wind Power Market In The Forecast Period?
The rapid growth of the global floating offshore wind power market leading up to 2030 will be driven by the following key factors that are expected to address rapid commercialization of semi-submersible and spar-buoy platforms enabling full-scale commercial deployments with enhanced stability and scalability, respond to strategic pivot toward deep-water national energy security by accessing high-quality wind resources far from shore to reduce reliance on fossil fuels, and support integration with green hydrogen and industrial decarbonization hubs for direct utilization of renewable power across steel, chemicals, and refining sectors across global energy systems.

Rapid Commercialization of Semi-Submersible and Spar-Buoy Platforms - The rapid commercialization of semi-submersible and spar-buoy platforms is expected to become a key growth driver for the floating offshore wind power market by 2030. Industry participants are accelerating the transition from pilot-scale demonstrations to full-scale commercial deployments, leveraging proven floating platform designs that offer enhanced stability and scalability in offshore environments. These platform types enable efficient installation and maintenance processes, reducing project timelines and operational complexities. Developers are increasingly standardizing platform configurations to achieve economies of scale and streamline supply chains. This shift toward commercially viable floating foundation technologies is strengthening project feasibility across global markets. As a result, the rapid commercialization of semi-submersible and spar-buoy platforms is anticipated to contribute approximately 3.0% annual growth to the market.

Strategic Pivot Toward Deep-Water National Energy Security - The strategic pivot toward deep-water national energy security is expected to emerge as a major factor driving the expansion of the floating offshore wind power market by 2030. Governments and energy planners are increasingly focusing on offshore renewable assets located in deeper waters to diversify energy sources and reduce reliance on imported fossil fuels. Floating wind technologies enable access to high-quality wind resources far from shore, supporting long-term energy resilience strategies. This shift is also encouraging the development of dedicated offshore energy zones and long-term capacity planning frameworks. The growing emphasis on energy independence through offshore renewables is accelerating investment momentum in floating wind infrastructure. Consequently, the strategic pivot toward deep-water national energy security is projected to contribute around 2.8% annual growth to the market.

Integration with Green Hydrogen and Industrial Decarbonization Hubs - The integration with green hydrogen and industrial decarbonization hubs is expected to act as a key growth catalyst for the floating offshore wind power market by 2030. Floating wind projects are increasingly being aligned with hydrogen production facilities and energy-intensive industrial clusters to enable direct utilization of renewable power. This integration supports large-scale decarbonization of sectors such as steel, chemicals, and refining, where electrification alone is insufficient. Developers are exploring co-location strategies that combine offshore wind generation with hydrogen electrolysis and storage systems. Such integrated energy ecosystems enhance project economics and create new revenue streams beyond electricity generation. Therefore, the integration with green hydrogen and industrial decarbonization hubs is projected to contribute approximately 2.3% annual growth to the market.

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What Are The Key Growth Opportunities In The Floating Offshore Wind Power Market In 2030?
The most significant growth opportunities are anticipated in the mooring systems market, the platforms market, the subsea cables market, and the turbines market. Collectively, these segments are projected to contribute over $2.5 billion in market value by 2030, driven by rising deployment of large-scale floating wind farms in deeper offshore zones, increasing demand for reliable anchoring and station-keeping solutions, expansion of offshore grid connectivity infrastructure, and continuous advancements in high-capacity turbine technologies. This momentum reflects the industry’s focus on improving project scalability, optimizing offshore energy transmission, and enhancing structural reliability, accelerating growth across the global floating offshore wind ecosystem.

The mooring systems market is projected to grow by $0.1 billion, the platforms market by $1.0 billion, the subsea cables market by $0.4 billion, and the turbines market by $1.0 billion over the next five years from 2025 to 2030.

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