Floating Wind Power Market Analysis

 Water Depth (Shallow, Transitional, Deep)

Deep segment is poised to capture floating wind power market share of around 60% by the end of 2036. The segment growth can be credited to the benefits of floating wind farms in deep water. Two key benefits of this kind of installation are that the deeper the water, the faster the wind, and the more unobstructed the winding route is, the more wind energy that can be harvested. Floating foundations are thought to create new avenues for the large-scale installation of wind farms in certain nations with narrow continental shelves, increasing the demand for floating wind power.

Turbine Capacity (Up to 3 MW, 3MW-5 MW, Above 5 MW)

The 5MW segment in floating wind power market is predicted to grow at a substantial growth rate during the forecast period. The segment growth can be attributed to the growing demand for larger turbines. The choice of wind farm capacity is usually impacted by projected power production as well as capital availability. Higher capacity wind farms are frequently seen as more viable investments, with an emphasis on long-term returns, given that significant capital expenditure is a precondition for wind farm development.

Also, the trend toward larger and larger wind turbines has been fueled by a number of factors, including the economics of scale, the paucity of sites and offshore locations, and the technology's learning curve. The market reflects this trend, with new wind farm projects approved for development often having capacities more than 5 MW.

Our in-depth analysis of the global market includes the following segments: