Top 25 Companies in Offshore Wind Energy Market: Market Research Report (2024–2035)
RELEASE DATE: Jul 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Global Offshore Wind Energy Market Size is Projected To Grow from USD 38.67 Billion in 2024 to USD 245.5 Billion by 2035, at a CAGR of 18.3% during the forecast period 2025–2035. Investments in large-scale wind farms, favorable government regulations, and rising demand for clean power are key growth drivers. Increasing environmental concerns, coupled with rapid technological innovation in turbine design, are also fueling market expansion.
Introduction
Offshore wind energy refers to the generation of electricity using wind turbines installed in bodies of water, typically in the ocean. It offers higher wind speeds, lower land usage, and significantly reduced carbon emissions compared to onshore alternatives. The Offshore Wind Energy Market encompasses a wide range of operations, including turbine manufacturing, installation, grid connectivity, and maintenance. Advancements in floating wind technology, government-backed clean energy targets, and international climate pacts are boosting market confidence. Current trends point toward deeper water projects, integrated energy systems (hydrogen production), and hybrid offshore plants. As nations aim to decarbonize, offshore wind offers a resilient and scalable energy solution to meet the net-zero goals of the coming decades.
Navigate Future Markets with Confidence: Insights from Spherical Insights LLP
The insights presented in this blog are derived from comprehensive market research conducted by Spherical Insights LLP, a trusted advisory partner to leading global enterprises. Backed by in-depth data analysis, expert forecasting, and industry-specific intelligence, our reports empower decision-makers to identify strategic growth opportunities in fast-evolving sectors. Clients seeking detailed market segmentation, competitive landscapes, regional outlooks, and future investment trends will find immense value in the full report. By leveraging our research, businesses can make informed decisions, gain a competitive edge, and stay ahead in the transition toward sustainable and profitable solutions.
Unlock exclusive market insights - Download the Brochure now and dive deeper into the future of the Global Offshore Wind Energy Market.
Offshore Wind Energy Market Size & Statistics
- The market for offshore wind energy was estimated to be worth USD 38.67 Billion in 2024.
- The market is going to expand at a CAGR of 18.3% between 2025 and 2035.
- The Global Offshore Wind Energy Market Size is anticipated to reach USD 245.5 Billion by 2035.
- Asia Pacific is expected to generate the highest demand during the forecast period in the offshore wind energy market
- Europe is expected to grow the fastest during the forecast period in the offshore wind energy market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the offshore wind energy market. The region is seeing aggressive government support, including national renewable targets and financial subsidies for offshore wind developers. Countries such as China, South Korea, and Taiwan are leading new turbine installations and investing in grid expansion. Additionally, the rise of floating offshore wind projects in deep waters around Japan and India is set to unlock untapped wind potential and push regional capacity growth further.
Europe is expected to generate the highest demand during the forecast period in the offshore wind energy market. The region is home to the largest number of operational offshore wind farms, with the UK, Germany, and the Netherlands at the forefront. Strong policy frameworks like the EU Green Deal and offshore renewable energy strategies are accelerating project approvals and funding. Established infrastructure, skilled labor, and integrated electricity markets are creating a favorable ecosystem for continued leadership in offshore wind deployment.
Top 10 trends in the Offshore Wind Energy Market
- Floating wind turbine technology
- Expansion into deeper waters and emerging markets
- Larger turbine sizes and higher capacity installations
- Grid infrastructure modernization and smart transmission
- Government incentives and policy support
- Environmental sustainability and marine ecosystem protection
- Digitalization and AI-driven maintenance
- Hybrid offshore energy systems (wind + hydrogen)
- Public-private partnerships and innovative financing models
- Supply chain localization and workforce development
- Floating wind turbine technology
Floating platforms allow wind farms to be installed in deeper waters where fixed-bottom turbines aren’t feasible. This unlocks vast new areas for energy generation and is gaining traction in regions like Japan, South Korea, and the U.S. West Coast.
- Expansion into deeper waters and emerging markets
Countries beyond Europe, such as Brazil, India, and Australia, are developing offshore wind frameworks. Deeper water installations are now viable due to advanced foundation designs and floating systems, expanding global capacity.
- Larger turbine sizes and higher capacity installations
Next-gen turbines exceeding 15 MW are being deployed, boosting energy output and reducing the cost per megawatt. Taller towers and wider rotor diameters improve efficiency and make offshore wind more competitive with fossil fuels.
- Grid infrastructure modernization and smart transmission
As offshore wind scales up, investments in grid upgrades, HVDC systems, and smart transmission networks are essential to handle fluctuating loads and ensure stable integration with national grids.
- Government incentives and policy support
Feed-in tariffs, auctions, and net-zero targets are driving investment. Countries like the UK, the U.S., and China are setting ambitious offshore wind goals, streamlining permitting, and offering subsidies to accelerate deployment.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the Offshore Wind Energy market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 25 Companies Leading the Offshore Wind Energy Market
- Ørsted A/S
- Siemens Gamesa Renewable Energy
- Vestas Wind Systems A/S
- General Electric (GE Renewable Energy)
- MHI Vestas Offshore Wind
- Goldwind
- Suzlon Energy Limited
- Nordex SE
- Sinovel Wind Group
- China Ming Yang Wind Power Group
- ABB Ltd.
- Doosan Heavy Industries & Construction
- Senvion SA
- EEW Group
- Engie
- Dong Energy A/S
- Alstom SA
- Rockwell Automation
- Avangrid Inc.
- Iberdrola
- Mainstream Renewable Power
- EDP Renewables
- Ocean Winds
- Van Oord
- FairWind
- Ørsted A/S
Headquarters – Fredericia, Denmark
Ørsted is a global leader in offshore wind energy, operating over 7.5 GW of installed capacity and aiming for 30 GW by 2030. Known for pioneering floating wind turbine technology and deepwater installations, Ørsted has projects across Europe, Asia, and North America. The company integrates smart grid infrastructure and AI-driven maintenance to optimize performance and reduce downtime. Ørsted’s commitment to environmental sustainability includes marine ecosystem protection and carbon-neutral operations. Flagship projects like Hornsea and Borkum Riffgrund showcase its scale and innovation. With strong public-private partnerships and a robust financing model, Ørsted is shaping the future of renewable energy.
- Siemens Gamesa Renewable Energy
Headquarters – Zamudio, Spain
Siemens Gamesa is one of the world’s largest offshore wind turbine manufacturers, recognized for its SG 14.0-222 DD turbine—the largest in commercial operation. The company specializes in high-capacity installations and grid modernization, offering turnkey solutions for offshore wind farms. Siemens Gamesa’s technology supports smart transmission systems and predictive maintenance using digital twins and AI. It has a strong sustainability agenda, aiming to be carbon-neutral by 2040. With over 30 years of offshore experience, including the historic Vindeby project, Siemens Gamesa continues to lead in innovation, reliability, and global deployment.
- Vestas Wind Systems A/S
Headquarters – Aarhus, Denmark
Vestas is a global wind energy powerhouse, expanding aggressively into the offshore segment through its joint venture with Mitsubishi Heavy Industries. The company focuses on larger turbine sizes, including the V236-15.0 MW model, designed for deepwater and high-wind environments. Vestas integrates digitalization and AI-driven maintenance to enhance turbine efficiency and reduce lifecycle costs. Its offshore strategy emphasizes supply chain localization and sustainability, with recyclable blade technology and low-carbon manufacturing. Vestas is active in emerging markets and supports hybrid energy systems combining wind and hydrogen, making it a key player in the energy transition.
- General Electric (GE Renewable Energy)
Headquarters – Boston, Massachusetts, USA
GE Renewable Energy is renowned for its Haliade-X platform, featuring turbines up to 14 MW—the most powerful in the offshore wind market. GE’s focus on floating wind technology and grid integration positions it as a leader in next-gen offshore solutions. The company invests heavily in R&D, including AI-based diagnostics and smart control systems. GE’s projects span Europe, Asia, and the Americas, with strong government partnerships and financing support. Its commitment to environmental sustainability includes recyclable components and reduced noise impact on marine life. GE is driving offshore wind scalability and reliability worldwide.
- MHI Vestas Offshore Wind
Headquarters – Aarhus, Denmark (Joint venture of Mitsubishi Heavy Industries, Japan & Vestas)
MHI Vestas specializes in deepwater offshore wind installations and floating turbine platforms, making it a key innovator in expanding wind energy access. The company’s V174-9.5 MW turbine is widely deployed across Europe and Asia. MHI Vestas emphasizes smart transmission and AI-driven predictive maintenance, improving uptime and grid stability. Its sustainability initiatives include low-impact construction and circular economy practices. With strong roots in engineering and global partnerships, MHI Vestas is accelerating offshore wind adoption in emerging markets and supporting hybrid systems like wind-to-hydrogen.
Company Profiles
- Ørsted A/S
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Siemens Gamesa Renewable Energy
- Vestas Wind Systems A/S
- General Electric (GE Renewable Energy)
- MHI Vestas Offshore Wind
- Goldwind
- Suzlon Energy Limited
- Nordex SE
- Sinovel Wind Group
- Others.
Conclusion
The global offshore wind energy market is emerging as a cornerstone of the global clean energy transition. Driven by strong government policies, carbon neutrality goals, and rapid technological advancement, offshore wind is evolving into a highly scalable and cost-competitive energy solution. Floating turbines, hydrogen integration, and data-driven maintenance are reshaping how energy is produced offshore. As demand for sustainable and resilient power infrastructure grows, key players are accelerating capacity expansion, innovation, and ESG-led strategies.
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?