Offshore Wind Turbines Market size is valued at USD 36,441.8 million in 2021 and is expected to grow at a prominent growth rate 12.3% during the forecast period 2022 to 2028. The global market provides a detailed overview of the global Offshore Wind Turbines market, and that can be segmented by Location, by Foundation, by Capacity, and by end user. By Location, the global Offshore Wind Turbines market has been segmented into Shallow Water, Deep Water. The shallow water Offshore Wind Turbines segment is likely to be the largest and fastest-growing segment in terms of location. Based on foundation, the global Offshore Wind Turbines market is segmented into Floating, Fixed, Monopile, Tripod, Gravity base, Jacket, Others. Among these, the floating segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on capacity, the global Offshore Wind Turbines market is segmented into Less than 5MW, 5MW – 10 MW, and More than 10 MW. The 5MW – 10 MW segment accounts for the largest share in 2021. 5MW segment is the second-largest share during the forecast period 2022-2028. Based on end user, the global Offshore Wind Turbines market is segmented into Residential, Commercial Greenhouse. The Commercial segment accounts for the largest share in 2021.
In January 2022, Repower Renewable revealed its decision to invest roughly EUR 1.5 billion in constructing a 495 MW floating offshore wind farm in Italy. The project will include 33 wind turbines, each having a 15 MW capacity, mounted on floating foundations.
In Nov 2021, UK government announced that Scottish and Welsh governments will receive USD 218 million in assistance from the United Kingdom government to construct floating offshore wind ports.