Floating Wind Turbine Market Synopsis

Floating Wind Turbine Market Size Was Valued at USD 0.51 Billion in 2023, and is Projected to Reach USD 28.97 Billion by 2032, Growing at a CAGR of 56.50% From 2024-2032.

The floating wind turbine market refers to the sector within the renewable energy industry that focuses on the development, production, and deployment of wind turbines that are mounted on floating structures rather than fixed to the seabed or land. These innovative turbines utilize advanced engineering techniques to harness wind energy in deeper waters where traditional fixed-bottom turbines are not feasible. Floating wind turbines offer several advantages, including access to higher wind speeds and less visual impact on coastal landscapes. They play a crucial role in expanding the reach of offshore wind energy generation, contributing to the global transition towards sustainable and low-carbon energy sources.

  • The floating wind turbine market highlights a compelling narrative of growth and innovation within the renewable energy sector. As the world grapples with the urgent need to transition towards cleaner and more sustainable sources of power, floating wind turbines emerge as a pivotal technology poised to revolutionize offshore wind energy generation. The allure of floating wind turbines lies in their ability to unlock vast expanses of deep-water regions previously inaccessible to traditional fixed-bottom turbines. This expansion of available sites for wind energy development holds profound implications for the global energy landscape, particularly in regions with abundant offshore wind resources but challenging seabed conditions.
  • Furthermore, the escalating threat of climate change underscores the imperative for rapid decarbonization of the energy sector. Governments and industry stakeholders worldwide are increasingly prioritizing renewable energy investments as part of broader strategies to mitigate greenhouse gas emissions and transition towards a low-carbon future. Within this context, floating wind turbines represent a compelling solution for scaling up offshore wind capacity and diversifying the renewable energy mix.
  • The market outlook for floating wind turbines is buoyed by a confluence of factors driving demand and investment. Technological advancements have significantly improved the efficiency, reliability, and cost-effectiveness of floating wind systems, making them increasingly competitive with conventional energy sources. Moreover, economies of scale and ongoing innovation in turbine design, installation techniques, and floating platform technology are driving down capital and operational costs, further enhancing the attractiveness of floating wind projects.
  • In parallel, supportive policy frameworks and regulatory incentives are accelerating the deployment of offshore wind infrastructure, creating a conducive environment for market growth. Governments around the world are implementing ambitious targets for renewable energy deployment and offering various incentives, including subsidies, tax credits, and competitive procurement mechanisms, to stimulate investment in offshore wind projects. These policy measures provide critical support for project developers, investors, and technology providers, catalyzing the expansion of the floating wind turbine market.
  • Looking ahead, the floating wind turbine market is poised for exponential growth and transformative impact on the global energy transition. With an ever-expanding pipeline of projects, increasing investment flows, and a growing ecosystem of technology suppliers and service providers, the outlook for floating wind remains highly promising. As the industry continues to mature and scale, floating wind turbines are expected to play a pivotal role in realizing the vision of a sustainable, low-carbon energy future.

Floating Wind Turbine Market Trend Analysis

Driving the Adoption of Floating Wind Turbines

  • The increasing adoption of floating wind turbines in deeper waters marks a significant shift in the offshore wind industry. Unlike traditional fixed-bottom turbines, which are restricted to shallow waters typically up to around 60 meters deep, floating turbines can be deployed in much deeper waters, sometimes exceeding 100 meters. This technological advancement enables developers to explore new offshore locations previously deemed unsuitable for wind energy development due to the depth limitations. As a result, regions with strong offshore winds but limited shallow seabed space, such as the West Coast of the United States, the Mediterranean Sea, and parts of Asia-Pacific, are now becoming viable candidates for large-scale wind farm installations.
  • The expansion into deeper waters not only unlocks vast new areas for wind energy development but also offers several advantages. Deeper waters tend to have stronger and more consistent wind resources compared to shallower coastal areas, leading to higher energy production potential. Additionally, offshore wind farms located farther from shore in deeper waters are often less visible from land, reducing potential visual and environmental impacts and mitigating concerns from coastal communities. Overall, the increasing adoption of floating wind turbines in deeper waters is reshaping the offshore wind landscape, diversifying the locations for wind energy development and accelerating the transition towards a more sustainable and renewable energy future.

Advancements Propelling Growth in the Floating Wind Turbine Market

  • The growth of the floating wind turbine market is undeniably intertwined with the relentless march of technological progress. Engineers and developers are at the forefront of this revolution, ceaselessly refining the design and efficiency of floating platforms to overcome the challenges posed by the dynamic marine environment. By leveraging cutting-edge technologies, these innovators are enhancing the stability, cost-effectiveness, and adaptability of floating wind turbines. Through iterative design improvements, such as optimized geometries and innovative mooring systems, these platforms are becoming increasingly robust, capable of withstanding a broader spectrum of environmental conditions, including harsh seas and deep waters.
  • Moreover, material advancements are pivotal in driving the evolution of floating wind turbine technology. Lightweight composites, for instance, are revolutionizing the construction landscape, offering superior strength-to-weight ratios that enable the development of larger, more efficient turbine structures. Additionally, advanced anchoring systems are bolstering the reliability and longevity of these installations, minimizing maintenance requirements and operational downtime. By harnessing these breakthroughs in materials science, engineers are not only reducing construction costs but also enhancing the overall performance and durability of floating wind turbines, thus solidifying their position as a cornerstone of the renewable energy transition.

Floating Wind Turbine Market Segment Analysis:

Floating Wind Turbine Market is Segmented based on Foundation, Capacity and Depth.

By Depth, above 5MW segment is expected to dominate the market during the forecast period

  • In the dynamic landscape of the floating wind turbine market, turbines boasting capacities above 5 MW have emerged as the unrivaled leaders, commanding a significant share of the industry. This dominance reflects a strategic response to the escalating demand for energy production efficiency in offshore wind farms. As the global focus intensifies on transitioning towards renewable energy sources, there's a heightened emphasis on maximizing the output of each turbine to harness the abundant wind resources available offshore. Consequently, developers and stakeholders are increasingly turning to higher-capacity turbines as a means to achieve greater energy yields per unit, thereby bolstering the overall competitiveness and sustainability of offshore wind projects.
  • The ascendancy of turbines with capacities exceeding 5 MW is further propelled by relentless technological innovation within the industry. Manufacturers are spearheading the development of next-generation turbine designs, leveraging cutting-edge advancements to push the boundaries of performance and efficiency. These innovations encompass a spectrum of enhancements, including larger rotor diameters, more robust drivetrains, and optimized aerodynamics, all geared towards elevating energy capture capabilities and reducing the levelized cost of energy (LCOE) from offshore wind projects. By embracing these advancements, stakeholders can unlock unprecedented levels of energy production potential, driving down costs and accelerating the widespread adoption of offshore wind as a cornerstone of the global renewable energy portfolio. In essence, the dominance of turbines with capacities above 5 MW underscores a strategic convergence of market demand, technological prowess, and sustainability imperatives, positioning them as pivotal drivers of progress in the floating wind turbine sector.

By Foundation, Semi-submersible Foundation segment held the largest share in 2023

  • The semi-submersible foundation stands out as the cornerstone of the floating wind turbine market, boasting the largest share among various foundation types. Its prominence stems from a combination of robustness, adaptability, and reliability, making it the go-to choice for developers navigating the challenges of offshore wind energy production. One of the primary factors driving its dominance is its exceptional stability, even in tumultuous ocean environments. Semi-submersible platforms are engineered to withstand extreme weather conditions, including high winds, waves, and storms, ensuring uninterrupted energy generation throughout their operational lifespan. This resilience instills confidence among investors and stakeholders, mitigating concerns over potential disruptions and downtime.
  • Moreover, the versatility of semi-submersible foundations extends beyond stability to encompass flexibility in water depths. Whether in shallow or deep waters, these platforms excel, offering developers a wide range of deployment options to capitalize on optimal wind resources. This flexibility not only expands the geographic scope of potential project sites but also enhances the scalability of offshore wind farms. Furthermore, semi-submersible foundations have demonstrated their capacity to accommodate larger turbines, reflecting the industry's shift towards higher-capacity systems to maximize energy output. By enabling the installation of advanced turbine technologies, these platforms pave the way for increased efficiency and competitiveness in the offshore wind sector. In essence, the dominance of semi-submersible foundations in the floating wind turbine market underscores their indispensable role in driving the transition towards sustainable and resilient renewable energy solutions.

Floating Wind Turbine Market Regional Insights:

Asia-Pacific is Expected to Dominate the Market Over the Forecast period

  • The Asia-Pacific region stands at the forefront of renewable energy adoption, driven by a dual imperative: the pressing need for clean energy to combat environmental degradation and the demand for power to sustain rapid industrialization. Countries like Japan, South Korea, and Taiwan, with their densely populated coastlines and limited land availability, are turning to offshore wind as a pivotal pillar of their energy transition strategies. However, the deployment of traditional fixed-bottom turbines faces challenges in these regions due to the deep waters near their shores. This challenge has catalyzed a shift towards floating wind technology, which offers the flexibility to harness wind resources in deeper waters where fixed-bottom turbines are not feasible. As a result, the Asia-Pacific region is witnessing a surge in investments and initiatives aimed at developing floating wind projects. Government incentives, such as feed-in tariffs and renewable energy targets, coupled with technological advancements in floating platform design and installation techniques, are further propelling the growth of the floating wind turbine market in Asia-Pacific.
  • Moreover, partnerships between local governments, industry players, and international developers are fostering collaboration and knowledge exchange, accelerating the development and deployment of floating wind projects in the region. For instance, Japan's ambitious plans to increase its offshore wind capacity and reduce dependence on fossil fuels have led to partnerships with European companies with expertise in floating wind technology. Similarly, South Korea's strong focus on renewable energy as part of its Green New Deal initiative has spurred collaborations with global leaders in floating wind innovation. These partnerships not only facilitate technology transfer but also help address challenges related to project financing, regulatory frameworks, and supply chain development. As the momentum for renewable energy continues to grow in the Asia-Pacific region, floating wind turbines are poised to play a crucial role in meeting the region's clean energy goals and driving sustainable economic development.

Active Key Players in the Floating Wind Turbine Market

  • General Electric
  • Vestas
  • Siemens
  • Goldwind
  • Shanghai Electric
  • ABB
  • Doosan Corporation
  • Hitachi Ltd.
  • Nordex SE
  • EEW Group
  • Nexans
  • DEME
  • Ming Yang Smart Energy Group Co
  • Envision
  • Rockwell Automation Inc.
  • Hyundai Motor Company
  • Schneider Electric
  • Zhejiang Windey Co., Ltd.
  • Taiyuan Heavy Industry Co.
  • Sinovel Wind Group Co., Ltd.
  • Other Key Players

Key Industry Developments in the Floating Wind Turbine Market:

  • In January 2024, GE Vernova announced 1.4 GW of onshore wind projects with Squadron Energy in Australia. GE Vernova's Onshore Wind business announced the signing of a strategic framework agreement with Squadron Energy for 1.4 gigawatts (GW) of onshore wind projects in New South Wales, Australia. Squadron Energy announced the agreement earlier this month, marking the commencement of construction of the Uungala Wind Farm.
  • In May 2023, GE announced that it would invest $50 million in its Schenectady, NY, facility and hire about 200 additional full-time employees, including skilled union operators, manufacturing engineers, and front-line leadership, to develop a new manufacturing assembly line for its onshore wind business. The facility will assemble three essential components for GE Vernova's 6.1 MW turbine.

Global Floating Wind Turbine Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD  0.51 Bn.

Forecast Period 2024-32 CAGR:

56.50%

Market Size in 2032:

USD 28.97 Bn.

Segments Covered:

By  Foundation

  • Spar-buoy Foundation
  • Tension-leg platform (TLP) Foundation
  • Semi-submersible Foundation
  • Others

By  Capacity

  • Up to 1 MW
  • 1-3 MW
  • 3-5 MW
  • above 5MW

By Depth

  • Shallow Water
  • Deep Water

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Acceleration of Sustainable and Eco-Friendly Electricity Source

Key Market Restraints:

  • Dearth of Technical Expertise

Key Opportunities:

  • Surging Developments and Other Energy Efficient Solutions

Companies Covered in the report:

  • General Electric (U.S.), Vestas (Denmark), Siemens (Spain), Goldwind (China), Shanghai Electric (China), ABB (Switzerland), Doosan Corporation (South Korea), Hitachi Ltd. (Japan), Nordex SE (Germany), EEW Group (Germany), Nexans (France), DEME (Belgium), Ming Yang Smart Energy Group Co (China), Envision (China), Rockwell Automation Inc., (U.S.), Hyundai Motor Company (South Korea), Schneider Electric (France),  Zhejiang Windey Co., Ltd.,.(China), Taiyuan Heavy Industry Co., (China),  Sinovel Wind Group Co., Ltd. (China) and Other Major Players.
  1. INTRODUCTION
    1. RESEARCH OBJECTIVES
    2. RESEARCH METHODOLOGY
    3. RESEARCH PROCESS
    4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
    5. MARKET SEGMENTATION
  2. EXECUTIVE SUMMARY
  3. MARKET OVERVIEW
  4. GROWTH OPPORTUNITIES BY SEGMENT
  5. MARKET LANDSCAPE
    1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
    2. INDUSTRY VALUE CHAIN ANALYSIS
    3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    4. MARKET TREND ANALYSIS
    5. REGULATORY LANDSCAPE
    6. PESTLE ANALYSIS
    7. PRICE TREND ANALYSIS
    8. PATENT ANALYSIS
    9. TECHNOLOGY EVALUATION
    10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
      1. Geopolitical Market Disruptions
      2. Supply Chain Disruptions
      3. Instability in Emerging Markets
    11. ECOSYSTEM
  6. FLOATING WIND TURBINE MARKET BY FOUNDATION (2017-2032)
    1. FLOATING WIND TURBINE MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. SPAR-BUOY FOUNDATION
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. TENSION-LEG PLATFORM (TLP) FOUNDATION
    5. SEMI-SUBMERSIBLE FOUNDATION
    6. OTHERS
  7. FLOATING WIND TURBINE MARKET BY CAPACITY (2017-2032)
    1. FLOATING WIND TURBINE MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. UP TO 1 MW
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. 1-3 MW
    5. 3-5 MW
    6. ABOVE 5MW
  8. FLOATING WIND TURBINE MARKET BY DEPTH (2017-2032)
    1. FLOATING WIND TURBINE MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. SHALLOW WATER
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. DEEPWATER
  9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. FLOATING WIND TURBINE Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
    2. GENERAL ELECTRIC
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
    3. COMPANYB
    4. VESTAS
    5. SIEMENS
    6. GOLDWIND
    7. SHANGHAI ELECTRIC
    8. ABB
    9. DOOSAN CORPORATION
    10. HITACHI LTD.
    11. NORDEX SE
    12. EEW GROUP
    13. NEXANS
    14. DEME
    15. MING YANG SMART ENERGY GROUP CO
    16. ENVISION
    17. ROCKWELL AUTOMATION INC.
    18. HYUNDAI MOTOR COMPANY
    19. SCHNEIDER ELECTRIC
    20. ZHEJIANG WINDEY CO., LTD.
    21. TAIYUAN HEAVY INDUSTRY CO.
    22. SINOVEL WIND GROUP CO., LTD.
  10. GLOBAL FLOATING WIND TURBINE MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Foundation
      4. Historic And Forecasted Market Size By Capacity
      5. Historic And Forecasted Market Size By Depth
      6. Historic And Forecasted Market Size By Country
        1. USA
        2. Canada
        3. Mexico
    3. EASTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Russia
        2. Bulgaria
        3. The Czech Republic
        4. Hungary
        5. Poland
        6. Romania
        7. Rest Of Eastern Europe
    4. WESTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Germany
        2. United Kingdom
        3. France
        4. The Netherlands
        5. Italy
        6. Spain
        7. Rest Of Western Europe
    5. ASIA PACIFIC
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Malaysia
        6. Thailand
        7. Vietnam
        8. The Philippines
        9. Australia
        10. New-Zealand
        11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Turkey
        2. Bahrain
        3. Kuwait
        4. Saudi Arabia
        5. Qatar
        6. UAE
        7. Israel
        8. South Africa
    7. SOUTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
  11. INVESTMENT ANALYSIS
  12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies

Global Floating Wind Turbine Market

Base Year:

2023

Forecast Period:

2024-2032

Historical Data:

2017 to 2023

Market Size in 2023:

USD  0.51 Bn.

Forecast Period 2024-32 CAGR:

56.50%

Market Size in 2032:

USD 28.97 Bn.

Segments Covered:

By  Foundation

  • Spar-buoy Foundation
  • Tension-leg platform (TLP) Foundation
  • Semi-submersible Foundation
  • Others

By  Capacity

  • Up to 1 MW
  • 1-3 MW
  • 3-5 MW
  • above 5MW

By Depth

  • Shallow Water
  • Deep Water

By Region

  • North America (U.S., Canada, Mexico)
  • Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
  • Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
  • Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Acceleration of Sustainable and Eco-Friendly Electricity Source

Key Market Restraints:

  • Dearth of Technical Expertise

Key Opportunities:

  • Surging Developments and Other Energy Efficient Solutions

Companies Covered in the report:

  • General Electric (U.S.), Vestas (Denmark), Siemens (Spain), Goldwind (China), Shanghai Electric (China), ABB (Switzerland), Doosan Corporation (South Korea), Hitachi Ltd. (Japan), Nordex SE (Germany), EEW Group (Germany), Nexans (France), DEME (Belgium), Ming Yang Smart Energy Group Co (China), Envision (China), Rockwell Automation Inc., (U.S.), Hyundai Motor Company (South Korea), Schneider Electric (France),  Zhejiang Windey Co., Ltd.,.(China), Taiyuan Heavy Industry Co., (China),  Sinovel Wind Group Co., Ltd. (China) and Other Major Players.
  1. INTRODUCTION
    1. RESEARCH OBJECTIVES
    2. RESEARCH METHODOLOGY
    3. RESEARCH PROCESS
    4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
    5. MARKET SEGMENTATION
  2. EXECUTIVE SUMMARY
  3. MARKET OVERVIEW
  4. GROWTH OPPORTUNITIES BY SEGMENT
  5. MARKET LANDSCAPE
    1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
    2. INDUSTRY VALUE CHAIN ANALYSIS
    3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    4. MARKET TREND ANALYSIS
    5. REGULATORY LANDSCAPE
    6. PESTLE ANALYSIS
    7. PRICE TREND ANALYSIS
    8. PATENT ANALYSIS
    9. TECHNOLOGY EVALUATION
    10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
      1. Geopolitical Market Disruptions
      2. Supply Chain Disruptions
      3. Instability in Emerging Markets
    11. ECOSYSTEM
  6. FLOATING WIND TURBINE MARKET BY FOUNDATION (2017-2032)
    1. FLOATING WIND TURBINE MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. SPAR-BUOY FOUNDATION
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. TENSION-LEG PLATFORM (TLP) FOUNDATION
    5. SEMI-SUBMERSIBLE FOUNDATION
    6. OTHERS
  7. FLOATING WIND TURBINE MARKET BY CAPACITY (2017-2032)
    1. FLOATING WIND TURBINE MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. UP TO 1 MW
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. 1-3 MW
    5. 3-5 MW
    6. ABOVE 5MW
  8. FLOATING WIND TURBINE MARKET BY DEPTH (2017-2032)
    1. FLOATING WIND TURBINE MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. SHALLOW WATER
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
    4. DEEPWATER
  9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. FLOATING WIND TURBINE Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
    2. GENERAL ELECTRIC
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
    3. COMPANYB
    4. VESTAS
    5. SIEMENS
    6. GOLDWIND
    7. SHANGHAI ELECTRIC
    8. ABB
    9. DOOSAN CORPORATION
    10. HITACHI LTD.
    11. NORDEX SE
    12. EEW GROUP
    13. NEXANS
    14. DEME
    15. MING YANG SMART ENERGY GROUP CO
    16. ENVISION
    17. ROCKWELL AUTOMATION INC.
    18. HYUNDAI MOTOR COMPANY
    19. SCHNEIDER ELECTRIC
    20. ZHEJIANG WINDEY CO., LTD.
    21. TAIYUAN HEAVY INDUSTRY CO.
    22. SINOVEL WIND GROUP CO., LTD.
  10. GLOBAL FLOATING WIND TURBINE MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Foundation
      4. Historic And Forecasted Market Size By Capacity
      5. Historic And Forecasted Market Size By Depth
      6. Historic And Forecasted Market Size By Country
        1. USA
        2. Canada
        3. Mexico
    3. EASTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Russia
        2. Bulgaria
        3. The Czech Republic
        4. Hungary
        5. Poland
        6. Romania
        7. Rest Of Eastern Europe
    4. WESTERN EUROPE
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Germany
        2. United Kingdom
        3. France
        4. The Netherlands
        5. Italy
        6. Spain
        7. Rest Of Western Europe
    5. ASIA PACIFIC
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Malaysia
        6. Thailand
        7. Vietnam
        8. The Philippines
        9. Australia
        10. New-Zealand
        11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Turkey
        2. Bahrain
        3. Kuwait
        4. Saudi Arabia
        5. Qatar
        6. UAE
        7. Israel
        8. South Africa
    7. SOUTH AMERICA
      1. Key Market Trends, Growth Factors And Opportunities
      2. Key Manufacturers
      3. Historic And Forecasted Market Size By Segments
      4. Historic And Forecasted Market Size By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
  11. INVESTMENT ANALYSIS
  12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies
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Frequently Asked Questions :

What would be the forecast period in the Floating Wind Turbine Market research report?

The forecast period in the Floating Wind Turbine Market research report is 2024-2032.

Who are the key players in the Floating Wind Turbine Market?

General Electric (U.S.), Vestas (Denmark), Siemens (Spain), Goldwind (China), Shanghai Electric (China), ABB (Switzerland), Doosan Corporation (South Korea), Hitachi Ltd. (Japan), Nordex SE (Germany), EEW Group (Germany), Nexans (France), DEME (Belgium), Ming Yang Smart Energy Group Co (China), Envision (China), Rockwell Automation Inc., (U.S.), Hyundai Motor Company (South Korea), Schneider Electric (France),  Zhejiang Windey Co., Ltd.,.(China), Taiyuan Heavy Industry Co., (China),  Sinovel Wind Group Co., Ltd. (China) and Other Major Players.

What are the segments of the Floating Wind Turbine Market?

The Floating Wind Turbine Market is segmented into By  Foundation, By  Capacity, By Depth and region. By Foundation, the market is categorized into Spar-buoy Foundation, Tension-leg platform (TLP) Foundation, Semi-submersible Foundation and Others. By Capacity, the market is categorized into Up to 1 MW, 1-3 MW, 3-5 MW and above 5MW. By Depth, the market is categorized into Shallow Water and Deep Water. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Floating Wind Turbine Market?

The floating wind turbine market refers to the sector within the renewable energy industry that focuses on the development, production, and deployment of wind turbines that are mounted on floating structures rather than fixed to the seabed or land. These innovative turbines utilize advanced engineering techniques to harness wind energy in deeper waters where traditional fixed-bottom turbines are not feasible. Floating wind turbines offer several advantages, including access to higher wind speeds and less visual impact on coastal landscapes. They play a crucial role in expanding the reach of offshore wind energy generation, contributing to the global transition towards sustainable and low-carbon energy sources.

How big is the Floating Wind Turbine Market?

Floating Wind Turbine Market Size Was Valued at USD 0.51 Billion in 2023, and is Projected to Reach USD 28.97 Billion by 2032, Growing at a CAGR of 56.50% From 2024-2032.