Offshore Substation Market is expected to Hit US$ 10.96 billion by 2032 | Major Companies - General Electric Company, Aker Solutions, Envision Group, Petrofac Limited

Market Size and Growth:

The Global Offshore Substation Market size reached US$ 6.93 billion in 2024 and is expected to reach US$ 10.96 billion by 2032, growing with a CAGR of 5.9% during the forecast period 2024-2032.

DataM Intelligence has published a new research report on "Offshore Substation Market Size 2026". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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The Offshore Substation Market refers to the industry involved in the design, manufacturing, installation, and maintenance of substations located at sea to support offshore renewable energy projects, particularly wind farms. These substations collect electricity generated by offshore wind turbines, transform voltage levels, and transmit power efficiently to onshore grids through subsea cables. Market growth is driven by rising offshore wind investments, grid modernization initiatives, increasing demand for clean energy, and advancements in high-voltage transmission and offshore engineering technologies worldwide.

Recent Key Developments of United States:

✅ January 2026: Dominion Energy reported 71% project completion for CVOW, with the third offshore substation slated for installation by end of Q1 2026 following prior installs, despite a brief BOEM suspension in December 2025.

✅ December 2025: U.S. Bureau of Ocean Energy Management issued a temporary stop-work order for CVOW, impacting offshore substation-related progress until resolved in January 2026.

✅ November 2025: Siemens Energy completed installation of a next-generation HVAC offshore substation for the Empire Wind 1 project off New York, featuring advanced modular designs for enhanced grid integration and over 1 GW capacity.​

✅ November 2025: Second offshore substation installed for Dominion Energy's Coastal Virginia Offshore Wind (CVOW) project, advancing the 2.6 GW initiative amid ongoing construction progress.

Recent Key Developments of Japan:

✅ February 2026: JERA confirmed its Akita offshore wind project, including substation elements, remains on schedule for 2028 commissioning despite cost pressures.

✅ December 2025: Consortiums for Niigata (Murakami-Tainai) and Nagasaki (Enoshima) offshore wind projects paid final guarantee installments, signaling commitment to development including substation infrastructure for 2029 operations.

✅ November 2025: Ministry of Economy, Trade and Industry (METI) and Ministry of Land, Infrastructure, Transport and Tourism (MLIT) announced seven key policy reforms for offshore wind, including port upgrades and capacity auctions to support substation deployments in upcoming rounds.​

✅ October 2025: METI approved new floating offshore substations for the Aomori floating wind project, targeting 1 GW capacity with deep-water resilient technology.​

List of the Key Players in the Offshore Substation Market:

General Electric Company
Aker Solutions
Envision Group
Petrofac Limited
Burns & McDonnell
Hitachi Energy
HSM Offshore Energy BV
SLPE
Hollandia
Siemens

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This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Segments Covered in the Offshore Substation Market:

By Type: AC Substations, DC Substations.

By Voltage Type: 5 kV, 72.5 kV, 123 kV, 145 kV, 170 kV, 245 kV, 400 kV, Above 400 kV.

By Installation: Fixed Offshore Substations, Floating Offshore Substations.

By End-User: Wind Farms, Oil & Gas, Others.

Regional Analysis:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Offshore Substation manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Offshore Substation in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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People Also Ask:

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◆ Which region is expected to dominate the industry during the forecast period?

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