Floating Wind Turbine Market Size & Share, by Water Depth {Shallow Water (less than 40 m), Transitional (40m to 60m), Deep Water (more than 60 m)}; Foundation (Spar-Buoy Foundation, Semi-Submersible Foundation, Tension-Leg Platform Foundation); Application (Commercial, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3352
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Companies Dominating the Floating Wind Turbine Landscape

    • The General Electric Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • ABB Ltd
    • Siemens Gamesa Renewable Energy, S.A.
    • Mingyang Smart Energy Group Co., Ltd.
    • Suzlon Energy Ltd.
    • Vestas Wind Systems A/S
    • Envision Group
    • Xinjiang Goldwind Science & Technology Co., Ltd.
    • Iberdrola, S.A.

Browse Key Market Insights with Data Illustration:


In The News

  • Vestas Wind Systems A/S to deliver 21 V162-6.0 MW turbines for the 126 MW Posio Murtotuuli project by Taaleri Energia in Finland. These turbines will be equipped with an anti-icing system to work in harsh climatic conditions.

  • Siemens Gamesa Renewable Energy, S.A. to supply offshore wind turbines for three wind power projects of Hai Long in Taiwan. The Hai Long Offshore Wind Project extends to 1,044 MW.

  • Iberdrola, S.A. and Vestas Wind Systems A/S to collaborate for the 476 MW Baltic Eagle offshore project in Germany.

Author Credits:  Payel Roy, Dhruv Bhatia

  • Report ID: 3352
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing consumption of electricity, worldwide surging depletion of traditional resources, and rising need to reduce escalating carbon footprint are the major factors driving the market growth.

The market size of floating wind turbine is anticipated to attain a CAGR of ~26% over the forecast period, i.e., 2023-2035.

Requirement of higher investment, lack of skilled workforce, and risk of damage by harsh environmental conditions are estimated to be the growth hindering factors for the market expansion.

The market in the European region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market are The General Electric Company, ABB Ltd, Siemens Gamesa Renewable Energy, S.A., Mingyang Smart Energy Group Co., Ltd., Suzlon Energy Ltd., NORDEX SE, Vestas Wind Systems A/S, Envision Group, and others.

The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by water depth, foundation, application, and by region.

The spar-buoy foundation segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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