Offshore Wind Power Market Size, Share, Growth Analysis, By Water Depth(> 0 to ≤ 30 m, > 30 to ≤ 50 m, > 50 m support structure and energy infrastructure), By Component(Support Structure and Energy Infrastructure), By Capacity(Up to 3MW, 3MW to 5MW and Above 5MW), By Region - Industry Forecast 2024-2031

North America is the dominating region during the forecast period. Zero carbon emissions targets and increased private participation are driving the market for offshore wind in the US. An abundance of natural gas and offshore wind with government friendly offshore wind policies attracting many large offshore wind developers Advances in offshore wind technologies such as floating wind turbines, larger and more efficient turbines are some of the factors that encourage new offshore renewable energy Strong political appetites internally US. for development can enhance offshore wind.

Asia Pacific wind power market revenue share is poised to increase by more than 12% by 2032, driven by rising energy demand in the region. This demand is driving rapid infrastructure expansion in the region, with several new offshore installations currently underway. Large manufacturers active in this sector are also introducing more projects to make offshore farms economically viable. For example, in 2020, leading Japanese companies, MODEC, Inc., Toyo Construction Co., Ltd., Furukawa Electric Co., Ltd., revealed that their proposal to reduce emissions an offshore use to reduce R&D public offerings was officially adopted by the nation’s largest public authority.