Floating offshore wind power market seen topping $2B by 2030

By AI, Created 5:05 PM UTC, May 18, 2026, /AGP/ – A new market report forecasts rapid growth for floating offshore wind power through 2030, led by Asia Pacific and China. The category is still small versus the broader offshore wind and utilities markets, but turbine and platform demand could drive more than $2.5 billion in segment value.

Why it matters: - Floating offshore wind is moving from pilot projects toward commercial scale as utilities, developers and governments look for deeper-water renewable energy options. - The category is forecast to grow fast enough to become a meaningful niche within offshore wind, especially as countries seek energy security and industrial decarbonization. - The report estimates floating offshore wind power will reach more than $2 billion by 2030, with the market projected to represent about 2% of the parent offshore wind market and roughly 0.02% of the broader utilities industry.

What happened: - The Business Research Company released its Floating Offshore Wind Power Global Market Report 2026 – Market Size, Trends, and Forecast 2026-2035 on May 12, 2026. - The report says the floating offshore wind power market is expected to surpass $2 billion by 2030. - The report projects a 45% CAGR for the market through 2030. - Asia Pacific is forecast to be the largest region in 2030, at $1.24 billion. - China is forecast to be the largest country in 2030, at $0.96 billion. - Turbines are projected to be the largest component segment in 2030, accounting for 42% of the market, or about $1 billion. - The source includes a free sample request and the full report.

The details: - Asia Pacific’s market is expected to grow from $0.12 billion in 2025 to $1.24 billion in 2030, a 60% CAGR. - The report links that growth to pilot and commercial-scale projects in deep-water coastlines, stronger energy demand in industrializing economies, favorable wind conditions in Japan and South Korea, engineering progress in floating platforms and anchoring systems, and greater utility investment. - China’s market is expected to grow from $0.11 billion in 2025 to $0.96 billion in 2030, a 54% CAGR. - The report cites aggressive offshore renewable targets, state-owned enterprise participation in demonstrations, a domestic manufacturing base, localization efforts, and grid expansion as drivers in China. - The floating offshore wind market is segmented by component into mooring systems, platforms, subsea cables and turbines. - The market is also segmented by technology into floating wind turbine, hydrodynamic floating structure and other technologies. - Additional cuts include water depth, turbine capacity and application. - The turbine segment is supported by larger-capacity machines, high-efficiency blades and generators, next-generation floating designs, durability work for harsh marine conditions and efforts to reduce levelized cost of energy. - The report says the most significant growth opportunities through 2030 are in mooring systems, platforms, subsea cables and turbines. - Those four segments are projected to add more than $2.5 billion in market value by 2030. - Over the next five years, the report projects the mooring systems market will grow by $0.1 billion, platforms by $1.0 billion, subsea cables by $0.4 billion and turbines by $1.0 billion.

Between the lines: - The report points to a market shift away from demonstration projects and toward standardized commercial deployments. - Semi-submersible and spar-buoy platforms appear to be central to that shift because they offer more stable, scalable foundations for deeper waters. - The report also frames floating wind as part of a broader energy-security strategy, since it can tap stronger offshore wind resources farther from shore. - A second strategic theme is coupling offshore wind with green hydrogen and industrial hubs, which could expand demand beyond electricity sales. - That connection matters for steel, chemicals and refining, where direct electrification is harder.

What’s next: - The report expects commercialization of semi-submersible and spar-buoy platforms to continue accelerating through 2030. - Offshore energy planning is likely to increasingly prioritize deep-water sites and grid integration. - More floating wind projects may be tied to hydrogen production and industrial decarbonization infrastructure as developers look for new revenue streams. - The market’s near-term growth will likely concentrate in turbines, platforms and offshore transmission infrastructure.

The bottom line: - Floating offshore wind is still a small slice of global energy markets, but the report sees it scaling quickly as deep-water wind, grid buildout and industrial decarbonization converge.