Floating Wind Power Market Size

Floating Wind Power Market size was valued at USD 3 Billion in 2023 and is expected to cross USD 273 Billion by the end of 2036, registering more than 43% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of floating wind power is estimated at USD 4.29 Billion.

The market is driven by the growing global shift towards clean energy generation. According to the United Nations Organization, by 2030, affordable electricity derived from renewable sources may account for 65% of the global electrical supply. By 2050, it might decarbonize 90% of the electricity industry, drastically reducing carbon emissions and assisting in the fight against climate change. Therefore, there is a rapidly increasing need for energy, partly because of the several worldwide climate objectives established to address the effects of climate change and growing populations.