Floating Wind Power Market Size, Share, Growth Analysis, By Water Depth(Shallow Water, Transitional water, and Deep Water), By Turbine Capacity(Up to 3 MW, 3 MW – 5 MW, and Above 5 MW), By Region - Industry Forecast 2024-2031

Japan has emerged as a key player in the international floating offshore wind market, with the government aiming to increase installed capacity to 4 GW by 2030 and a remarkable 18 GW by 2050, as outlined by the Japan Wind Power Association. This ambitious target is expected to attract significant investor interest, further boosting the country's position in the industry. Meanwhile, the United Kingdom leads the global market, annually installing 47.5 megawatts, and aims to reach a target of 1 GW for offshore floating wind by 2030. This target will likely focus on Scotland's coastline and south-westerly waters.

Following Japan and the UK, other nations have made strides in establishing floating wind farms, including France, the United States, and Sweden. Notably, countries such as Norway, Germany, and Spain are anticipated to become significant market players during the projection period, driven by planned floating wind power construction.

Moreover, Asia Pacific is experiencing a shift toward web-based modern activities across various sectors due to the growing industry. Countries like Japan, Australia, and South Korea are actively researching the potential effects of new services and connected devices. Additionally, the Asia Pacific region stands out as a major hub for vehicle production globally, contributing to the expansion of end-use organizations in this market during the forecast period.

Latin America, the Middle East, and Africa are expected to witness notable improvement, driven by increased interest in the oil and gas sector and rising construction activity in these regions, promoting growth in both the private and business sectors.