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:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
79.36%
CAGR
80.08%
Incremental Value
$7196.2 mn
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.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Capacity
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
Overview on factors of disruption
2.4 Impact of drivers and challenges
Impact of drivers and challenges in 2023 and 2028
3 Market Landscape
3.1 Market ecosystem
Parent Market
Data Table on - Parent Market
3.2 Market characteristics
Market characteristics analysis
3.3 Value chain analysis
Value Chain Analysis
4 Market Sizing
4.1 Market definition
Offerings of companies included in the market definition
4.2 Market segment analysis
Market segments
4.3 Market size 2023
4.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)