Offshore Wind Market Growth (2026): JERA's Domestic Schedule Amid Rising Expenses Japan Project

Market Size and Growth

offshore wind market size is growing at a high CAGR during the forecast period (2024-2031).

United States: Recent Industry Developments
✅ December 2025: Ørsted and Eversource completed the 800 MW offshore wind project off the Massachusetts coast, supplying clean energy to over 500,000 homes.
✅ October 2025: Dominion Energy announced plans for a floating offshore wind farm along the Mid-Atlantic, targeting deeper water sites.
✅ February 2025: The U.S. Department of Energy funded new R&D programs for advanced turbine blade designs to improve efficiency and durability.

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Japan: Recent Industry Developments
✅ December 2025: Toshiba Energy Systems deployed advanced offshore wind turbines for large-scale floating wind farms in the Sea of Japan.
✅ October 2025: JERA and local partners began construction of Japan's largest offshore wind farm, aiming to supply 1 GW of renewable energy.
✅ February 2025: Government initiatives supported grid integration and port infrastructure for accelerating offshore wind adoption in coastal regions.

Japan Offshore Wind: JERA Advances Despite Challenges

✦ Akita Project On Track: JERA begins construction of 315 MW Oga-Katagami-Akita offshore wind farm, targeting 2028 start-up despite rising costs.

✦ Aomori Expansion: Consortium of JERA, Green Power Investment, and Tohoku Electric secures 615 MW offshore wind project in northern Japan.

✦ Strategic Partnerships: Vestas to supply turbines for Akita; Kajima responsible for turbine foundation construction.

✦ Energy Security Boost: JERA signs 27-year LNG deal with QatarEnergy to balance renewable fluctuations and meet growing electricity demand.

✦ Feasibility Focus: JERA aims to prove offshore wind viability in Japan, demonstrating commitment to sustainable and profitable projects.

Latest Mergers & Acquisitions (M&A)

• Allianz Global Investors acquires ~20.25% minority stake in the 500 MW îles d'Yeu et Noirmoutier offshore wind farm from Ocean Winds in France - expanding institutional investment into European offshore wind.

• Abu Dhabi's AD Ports Group subsidiary SAFEEN Drydocks acquires Spain's Balenciaga Astilleros Shipyard (now Balenciaga Shipyard) to boost
shipbuilding/repair capacity supporting offshore wind vessels and services.

• Korean power company invests €890 million to take stake in the 390 MW Sinan Ui offshore wind project off South Korea's coast - bolstering Asian offshore wind investment.

Major Top Key Players:

Vestas Wind Systems A/S, General Electric, ABB, GoldWind, Nordex SE, EEW Group, Nexans, Doosan Heavy Industries & Construction, Siemens Gamesa Renewable Energy, S.A., and Shanghai Electric Power Generation Equipment Co., Ltd

Growth Forecast Projection:

The Global Offshore Wind Market is anticipated to rise at a considerable rate during the forecast period, between 2026 and 2033. In 2025, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Key Developments:

✅ February 2026: United States accelerated deployment of offshore wind farms, driven by federal incentives, rising clean energy targets, and growing utility-scale project approvals.

✅ January 2026: Leading turbine manufacturers expanded production of high-capacity offshore wind turbines with advanced blade designs and digital monitoring systems to improve efficiency and reduce maintenance costs.

✅ December 2025: Japan advanced offshore wind adoption by awarding new floating wind farm contracts, supporting renewable energy transition goals and national carbon-reduction commitments.

✅ November 2025: Germany enhanced grid integration and offshore transmission infrastructure, enabling faster commissioning of large-scale offshore wind projects and improving energy reliability.

✅ October 2025: China scaled up offshore wind manufacturing and installation capabilities, integrating digital twin technology for optimized project planning and operational efficiency.

✅ August 2025: United Kingdom focused on next-generation offshore wind farms, including floating solutions, to meet ambitious net-zero targets and enhance energy security.

✅ June 2025: India promoted early-stage offshore wind projects and conducted feasibility studies along its coastline, encouraging public-private partnerships and attracting foreign investment.

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Regional Analysis for Market:

⇥ United States: 14% - Driven by utility-scale offshore wind farms along the East Coast and government incentives.

⇥ Japan: 7% - Growing adoption of offshore wind projects to diversify renewable energy sources.

⇥ Europe: 20% - Expansion led by North Sea offshore wind projects and strong policy support.

⇥ United Kingdom: 5% - Rapid growth from large offshore wind farms and corporate renewable energy commitments.

⇥ South Korea: 6% - Rising investments in offshore wind to meet national clean energy targets.

⇥ Middle East & Africa: 8% - Emerging offshore wind projects complementing solar and hydro developments.

⇥ Germany: 9% - Key European hub with extensive offshore wind capacity and technological innovation.

⇥ Canada: 4% - Steady growth with pilot offshore wind projects and provincial renewable initiatives.

⇥ Asia-Pacific: 27% - Dominates global demand, led by China, Taiwan, and Southeast Asia's large-scale offshore wind developments.

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Key Segmentations:

By Component
• Turbines - Leading the segment due to ongoing innovations in rotor, blade efficiency, and energy output.

• Electrical Infrastructure - Driven by the need for substations, high-voltage cabling, and seamless grid integration.

• Substructure - Growing focus on durable foundations and floating platforms for challenging offshore conditions.

By Location
• Shallow Water - Favored for easier installation, lower operational costs, and early-stage offshore projects.

• Transitional Water - Expanding segment with moderate depth projects requiring specialized engineering.

• Deep Water - Emerging opportunities supported by floating wind technologies and expansion into new regions.

Market Growth Drivers

✅ Decarbonization & Climate Goals - Offshore wind enables large-scale emissions cuts, supporting net-zero and Paris Agreement targets.

✅ Government Policies & Incentives - Subsidies, auctions, and tax credits drive investments and accelerate project pipelines globally.

✅ Energy Security & Rising Demand - Domestic offshore resources meet growing electricity needs while reducing fossil fuel dependence.

✅ Technological Innovations - Bigger turbines, floating platforms, and optimized supply chains enhance efficiency and project viability.

✅ Economic & Job Creation - Offshore wind investments generate thousands of jobs, boost local manufacturing, and deliver affordable power.

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