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North America Floating Offshore Wind Energy Market Trends

Report ID: GMI8969
Published Date: Apr 2024
Report Format: PDF

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North America Floating Offshore Wind Energy Market Trends

Presence of abundant wind resources along its coastlines along with growing interest in developers, investors, and policymakers will propel the growth statistics. Rising technological advancements, with innovations in floating turbine designs, mooring systems, and installation methods will make offshore wind projects more feasible and cost-effective. Moreover, growing exploration of deeper waters and more challenging environments will create opportunities for the market expansion.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

North America floating offshore wind energy market size was USD 24.1 million in 2023 and is expected to register 39.4% CAGR from 2024-2032 owing to rising advancements in technology enabling it to harness the wind energy to generate clean electricity in the region.

North America floating offshore wind energy market from the tower segment is expected to exceed USD 124 million by 2032 due to rising advancements in tower design and engineering enhancing the overall efficiency and productivity of the system.

U.S. floating offshore wind energy industry is expected to cross USD 471 million by 2032 due to its vast maritime territories, abundant wind resources and rising innovation in renewable energy in the country.

Hexicon, Nexans, Ørsted A/S, Principle Power Inc., Prysmian Group, RWE, Siemens Gamesa Renewable Energy, Simply Blue Group, Sumitomo Electric Industries, Ltd, Vattenfall AB, and Vestas Wind Systems A/S, are some of the major floating offshore wind energy companies in North America.