Floating Wind Turbine Market Outlook:
Floating Wind Turbine Market size was over USD 8.52 billion in 2025 and is anticipated to cross USD 226.12 billion by 2035, witnessing more than 38.8% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of floating wind turbine is estimated at USD 11.5 billion.
The growth of the market can be attributed to the increasing adoption of renewable energy across the globe. As per the International Energy Agency (IEA) statistics, renewable electricity generation is expected to cross 17000 terawatt-hours (TWh) by the end of the decade, accounting for almost 90% from 2023. In the electricity sector, the renewable energy share is expected to rise from 30% in 2023 to 46% in 2030. By the end of this decade, wind energy is predicted to be the second source of global renewable electricity after solar. In 2022, wind electricity generation increased to 265 TWh, reaching more than 2100 TWh.
The floating wind turbine market growth is also supported by the rise in initiatives to enhance the deployment of offshore wind energy. In 2022, the U.S. Department of Energy launched initiatives to deploy 15 GW of floating offshore wind, power 5 million homes, and reduce energy costs by 70% by 2037. Besides this, the higher capacity factor of floating wind turbines compared to the other onshore wind turbines is anticipated to accelerate the growth of the market in the projected time frame.
