Europe Floating Wind Power Industry Size, Share, Trends, and Growth Outlook 2025-2035

The Europe Floating Wind Power Industry is witnessing unprecedented growth, projected to rise from USD 4.3 Billion in 2025 to USD 143.6 Billion by 2035, registering a staggering CAGR of 42.8%. Floating wind power technology represents a breakthrough in renewable energy, enabling installation of wind turbines in deep and ultra-deep water locations where traditional fixed-bottom turbines are not feasible. This innovative solution addresses the growing demand for sustainable energy while reducing dependency on fossil fuels and supporting Europe's net-zero carbon targets.

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Floating wind power refers to the deployment of wind turbines on floating platforms anchored to the seabed via mooring systems. Unlike traditional offshore wind farms, floating turbines are not limited by water depth, making them ideal for deep-water locations.

Key Uses:
Large-scale renewable electricity generation for utility companies
Power supply for independent power producers (IPPs) and government projects
Integration with green hydrogen production and hybrid renewable energy systems
Support for Europe's sustainable energy transition and reduction of carbon footprint

Industry Dynamics
Drivers:
Rising demand for clean and sustainable energy across Europe
Government incentives, subsidies, and renewable energy mandates
Technological advancements in floating platform design and turbine efficiency

Restraints:
High initial investment costs and complex installation procedures
Maintenance challenges in harsh offshore environments

Opportunities:
Expansion into ultra-deep water regions previously inaccessible to fixed turbines
Strategic partnerships between energy companies and technology providers
Integration with emerging renewable solutions such as green hydrogen production

Segmentation Analysis
By Foundation Type
Spar-Buoy - Offers stability in deep water; widely used in Europe
Semi-Submersible - Supports large turbine capacities with proven performance
Tension-Leg Platform (TLP) - Provides robust mooring for high-capacity turbines
Barge - Cost-effective for smaller projects or nearshore installations
Others - Innovative hybrid designs emerging in pilot projects

By Water Depth
Shallow Water (up to 60m) - Early deployment zones with lower costs
Deep Water (60m-200m) - High potential for large-scale farms
Ultra-Deep Water (200m & above) - Future growth segment with technological innovation

By Turbine Capacity
Up to 3 MW - Small-scale and pilot projects
3-5 MW - Increasing adoption for nearshore farms
5-8 MW - Mainstream for far-offshore installations
Above 8 MW - Emerging ultra-large turbines for high-output projects

By Turbine Capacity Location
Nearshore - Lower installation costs; accessible for maintenance
Far Off-Shore - Higher energy potential; supports Europe's largest energy demands

By End User
Utility Companies - Largest consumers of floating wind power capacity
Independent Power Producers (IPPs) - Increasing participation in renewable energy projects
Government & Public Sector - Funding for national renewable energy initiatives
Others - Private sectors, hybrid renewable energy projects, and research facilities

By Country
Key deployment countries in Europe include UK, France, Spain, Norway, Portugal, and Italy, each leveraging government support and natural offshore wind resources to expand floating wind capacity.

Competitive Landscape
The Europe floating wind power sector is highly competitive, with leading companies investing heavily in R&D, strategic partnerships, and large-scale project development. Companies are focused on innovation in platform design, turbine efficiency, and mooring systems to maximize energy output and reduce levelized costs of energy (LCOE).

Key Companies Profiled:
Equinor ASA - Pioneer in floating wind projects with large-scale deployments in Norway and the UK
Ørsted A/S - Global leader in offshore wind with growing floating wind portfolio
Siemens Gamesa Renewable Energy, S.A.U. - Provides advanced turbine technology for deep-water installations
Vestas - Offers high-capacity turbines for far-offshore projects
GE Vernova - Expanding floating wind presence across European waters
BW Ideol - Innovator in semi-submersible and TLP platforms
ESB & IberBlue Wind - Active in nearshore and pilot projects
Seawind Ocean Technology & Saitec Offshore - Specialized in modular floating turbine solutions
RENEXIA & Green Volt Windfarm - Developers of integrated renewable projects
Iberdrola, S.A. & Repsol - Leveraging renewable energy portfolios to scale floating wind capacity

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Industry Trends
Growing adoption of high-capacity turbines (>8 MW) for far-offshore sites
Expansion into ultra-deep water zones with innovative floating foundations
Integration of floating wind farms with green hydrogen and hybrid renewable solutions
Increased focus on cost reduction and modular designs for scalability

Business Relevance
The Europe floating wind power sector presents significant opportunities for energy companies, investors, and technology providers. With Europe aiming for net-zero emissions by 2050, floating wind projects are critical for deep-water energy generation, grid stability, and sustainable development. Startups and established players can benefit from strategic partnerships, technological innovation, and government-backed renewable projects.

Recent Developments
Equinor ASA commissioned new large-scale floating wind farms in the North Sea
Ørsted expanded its offshore portfolio with multi-turbine floating platforms in France
Siemens Gamesa Renewable Energy unveiled next-generation turbines for ultra-deep water deployment
Vestas & GE Vernova collaborated on high-capacity offshore turbines for Europe's largest energy consumers

Frequently Asked Questions (FAQs)
Q1. What is the size of the Europe floating wind power industry?
The industry is projected to grow from USD 4.3 Billion in 2025 to USD 143.6 Billion by 2035 at a CAGR of 42.8%.
Q2. Which countries lead the sector?
UK, France, Spain, Norway, Portugal, and Italy are key players leveraging offshore wind resources.
Q3. What are the main drivers for growth?
Rising demand for renewable energy, government incentives, and technological innovation in floating platforms.
Q4. Who are the top companies in this sector?
Equinor ASA, Ørsted A/S, Siemens Gamesa, Vestas, GE Vernova, BW Ideol, Iberdrola, and Repsol.
Q5. What are the opportunities in this sector?
Expansion in ultra-deep waters, hybrid renewable integration, and strategic collaborations for large-scale projects.

Author
Riya Bhalchandra More - Research Associate, Prophecy Market Insights
Riya has over 3 years of experience in energy and renewable research. She specializes in industry sizing, trend analysis, competitive benchmarking, and strategic insights, helping stakeholders, investors, and companies make informed decisions in dynamic energy markets.

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