Global Floating Wind Turbine Market 2024-2028

Global Floating Wind Turbine Market 2024-2028

The floating wind turbine market is forecasted to grow by USD 7196.2 mn during 2023-2028, accelerating at a CAGR of 80.08% during the forecast period. The report on the floating wind turbine market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by favorable government regulations for floating wind turbines, change in energy mix, and rise in offshore installations.

Technavio's floating wind turbine market is segmented as below:

By Capacity

• Large-scale
• Medium-scale
• Small-scale

By Type

• Semi-submersible
• Spar-buoy
• Others

By Geographical Landscape

• Europe
• Asia
• North America
• Rest of World (ROW)

This study identifies the decline in lcoe of wind power generation as one of the prime reasons driving the floating wind turbine market growth during the next few years. Also, technological developments in wind power market and rise in wind energy consumption will lead to sizable demand in the market.

The report on the floating wind turbine market covers the following areas:

• Floating wind turbine market sizing
• Floating wind turbine market forecast
• Floating wind turbine market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading floating wind turbine market vendors that include BW Group, Doosan Corp., Eaton Corp. Plc, Electricite de France SA, EnBW Energie Baden Wurttemberg AG, ENERCON GmbH, Envision Group, Equinor ASA, General Electric Co., Hitachi Ltd., Ming Yang Smart Energy Group Ltd., Mitsubishi Heavy Industries Ltd., Naval Group, Nordex SE, Orsted AS, Principle Power Inc., SBM Offshore NV, Siemens AG, Vestas Wind Systems AS, and Xinjiang Goldwind Science and Technology Co. Ltd.. Also, the floating wind turbine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.