Press release
Floating Wind Turbine Market Still Has Room to Grow | Vestas, ABB, General Electric, Siemens
Floating Wind Turbine Market
Floating Wind Turbine Market Size Was Valued at USD 0.51 Billion in 2023, and is Projected to Reach USD 28.97 Billion by 2032, Growing at a CAGR of 56.50% From 2024-2032.
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The floating wind turbine market can be described as a sub sector of the renewable energy market mainly deals with the invention, manufacture and deployment of wind turbines that are installed on floating structures instead of being fixed on the seabed or on the ground. These new turbines incorporate sophisticated technologies to tapped wind power in water areas where the traditional bottom standing turbines cannot be installed.
Some of the Top Leading Key Players:
• General Electric
• Vestas
• Siemens
• Goldwind
• Shanghai Electric
• ABB
• Doosan Corporation
• Hitachi Ltd.
• Nordex SE
• EEW Group
• Nexans
• DEME
• Ming Yang Smart Energy Group Co
• Envision
Segmentation Analysis of the Floating Wind Turbine Market
By Foundation
• Spar-buoy Foundation
• Tension-leg platform (TLP) Foundation
• Semi-submersible Foundation
• Others
By Capacity
• Up to 1 MW
• 1-3 MW
• 3-5 MW
• above 5MW
By Depth
• Shallow Water
• Deep Water
Floating Wind Turbine Market Trend Analysis
Driving the Adoption of Floating Wind Turbines
Key Industry Developments in the Floating Wind Turbine Market:
In January 2024, GE Vernova announced 1.4 GW of onshore wind projects with Squadron Energy in Australia. GE Vernova's Onshore Wind business announced the signing of a strategic framework agreement with Squadron Energy for 1.4 gigawatts (GW) of onshore wind projects in New South Wales, Australia. Squadron Energy announced the agreement earlier this month, marking the commencement of construction of the Uungala Wind Farm.
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Regional Analysis
Asia-Pacific is Expected to Dominate the Market Over the Forecast period
Geographically, the distinctive analysis of consumption, revenue, market share, and growth rate of the subsequent areas:
• North America (U.S., Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New-Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
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Conduct Comprehensive Competitor Analysis: Perform in-depth analyses of competitors to understand their market positioning, strategies, and operational strengths and weaknesses.
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Benchmark Against Key Competitors: Use benchmarking to compare your business's performance against leading competitors, identifying areas for improvement and potential competitive advantages.
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Strategic Points Covered in Table of Content of Floating Wind Turbine Market:
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Growth Opportunities By Segment
Chapter 5: Market Landscape
Chapter 6: Floating Wind Turbine Market By Product Type (2017-2032)
Chapter 7: Floating Wind Turbine Market By Material (2017-2032)
Chapter 8: Floating Wind Turbine Market By Mounting Type (2017-2032)
Chapter 9: Floating Wind Turbine Market By Application (2017-2032)
Chapter 10: Floating Wind Turbine Market By Distribution Channel (2017-2032)
Chapter 11: Floating Wind Turbine Market By End-User (2017-2032)
Chapter 12: Company Profiles And Competitive Analysis
Chapter 13: Global Floating Wind Turbine Market By Region
Chapter 14: Investment Analysis
Chapter 15: Analyst Viewpoint And Conclusion
Chapter 16: Investment Analysis
Chapter 17: Analyst Viewpoint And Conclusion
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