Global Floating Wind Power Market

Global Floating Wind Power Market Size, Share, Growth Analysis, By Water Depth(Shallow Water, Transitional water), By Turbine Capacity(Up to 3 MW, 3 MW – 5 MW) - Industry Forecast 2024-2031

Report ID: SQMIG55E2020 | Region: Global | Published Date: March, 2024
Pages: 182 | Tables: 63 | Figures: 67

To request a free sample copy of this report, please complete the form below.
What people say about us!

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

logos logos logos logos logos
Analyst Support
$5,300
BUY NOW
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Floating Wind Power Market size was valued at USD 4.13 billion in 2022 and is poised to grow from USD 5.88 billion in 2023 to USD 99.44 billion by 2031, growing at a CAGR of 42.4% in the forecast period (2024-2031).

The competitive landscape of the floating wind power market is characterized by a mix of established energy companies, innovative startups, and collaborations between traditional offshore wind players and specialized technology firms. Leading companies such as Equinor, Shell, and Total Energies have made significant investments in floating wind projects, leveraging their expertise in offshore energy production to tap into this emerging sector. These industry giants often have the financial resources, technical knowledge, and global reach to drive large-scale floating wind farm development. 'Siemens Gamesa Renewable Energy S.A. (Spain)', 'MHI Vestas (Denmark)', 'FlowOcean (Sweden)', 'Engie Energy (France)', 'ABB Ltd. (Switzerland)', 'General Electric (U.S.)', 'Ming Yang Smart Energy Group Co. (China)', 'Nordex SE (Germany)', 'GoldWind (China)', 'Envision Energy (China)', 'Suzlon Energy Limited (India)', 'Hitachi Ltd. (Japan)'

The growth of industries such as paints and coatings, plastics, printing inks, and paper & pulp is a significant driver for the lithopone market. The product's versatile properties and applications in these sectors contribute to its demand.

Cost Reduction and Technological Innovations: Continuous innovation in floating platform designs, mooring systems, and turbine technologies is leading to cost reductions. As the technology matures, economies of scale are being realized, making floating wind power more competitive with traditional fixed-bottom offshore wind.

Japan has emerged as a key player in the international floating offshore wind market, with the government aiming to increase installed capacity to 4 GW by 2030 and a remarkable 18 GW by 2050, as outlined by the Japan Wind Power Association. This ambitious target is expected to attract significant investor interest, further boosting the country's position in the industry. Meanwhile, the United Kingdom leads the global market, annually installing 47.5 megawatts, and aims to reach a target of 1 GW for offshore floating wind by 2030. This target will likely focus on Scotland's coastline and south-westerly waters.

Related Reports

Heating & Cooling Market
Buy Now GET FREE SAMPLE
Global Hybrid Power Solutions Market
Buy Now GET FREE SAMPLE
Global Modular Uninterruptible Power Supply Market
Buy Now GET FREE SAMPLE
Wind Turbine Gearbox Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Floating Wind Power Market

Product ID: SQMIG55E2020

$5,300
BUY NOW