Contrive Datum Insights has published "Offshore Wind Market Size, Share & Industry Analysis, By Component (Wind Turbine, Substructure and Foundation, Electrical Infrastructure, Mooring and Anchoring, Installation and Logistics, Operations and Maintenance Services, Others), Foundation type (Monopile, Jacket, Gravity-Based, Tripod and Tripile, Suction Bucket, Floating), Turbine capacity (Below 5 MW, 5 MW to Less Than 8 MW, 8 MW to Less Than 12 MW, 12 MW to Less Than 15 MW, 15 MW and Above), Water depth (Shallow Water (Less Than 30 m), Transitional Water (30 m to 60 m), Deep Water (Above 60 m)), Distance from shore (Less Than 30 km, 30 km to 60 km, 60 km to 100 km, Above 100 km), Turbine technology (Geared Drivetrain, Direct Drive, Semi-Direct Drive), Grid connection type (HVAC Transmission, HVDC Transmission, Hybrid and Interconnector Links), Project phase (Development and Consenting, Manufacturing and Supply, Installation and Commissioning, Operation and Maintenance, Decommissioning and Repowering), Project ownership (Utility-Owned, Oil and Gas Company-Owned, Independent Power Producer-Owned, Joint Venture and Consortium, Infrastructure Fund-Owned), Offtake mechanism (Government Auction and Contract for Difference, Feed-in Tariff, Corporate Power Purchase Agreement, Merchant), Application (Utility-Scale Grid Power, Green Hydrogen Production, Offshore Oil and Gas Platform Electrification, Industrial and Port Power Supply), and Regional Forecast, 2026-2034". The study sizes the global offshore wind market at USD 52 billion in 2025 and projects growth from USD 58.5 billion in 2026 to USD 144.5 billion by 2034, a compound annual growth rate of 11.97% across the forecast period.
Offshore wind covers electricity generation from wind turbines installed on fixed or floating structures at sea, together with the foundations, subsea and export cables, substations, installation work and long-term operation and maintenance that make a project function. Revenue is counted across the equipment, construction and service value chain. Buyers are utilities, independent power producers, oil and gas companies and infrastructure funds that develop, own and operate projects, plus the grid operators that connect them.
Government auction volumes and national capacity targets
Government auction volumes and national capacity targets is the largest single contributor to the market's growth over the forecast period, and the study rates its impact high. Against a market growing at 11.97% a year, the component lines exposed to it move fastest: Mooring and Anchoring compounds at 19.84%, taking its share of revenue from 2% to 3.8% and its value from USD 1.04 billion to USD 5.49 billion.
The study also runs a bull case: auctions are awarded on schedule at higher strike prices, supply chain capacity expands ahead of demand, and floating projects reach commercial scale earlier than planned. That path ends 2034 at USD 160.5 billion, above the USD 144.5 billion base case.
On the downside, auction cancellations, high financing costs and port and vessel shortages delay commissioning, and grid connection backlogs push projects beyond the forecast period, which would hold 2034 revenue to USD 110.9 billion. Wind Turbine, which carries 36% of 2025 revenue, already grows at only 10.13% against the market's 11.97%, so the largest part of the base is also its slowest.
Key Players Compete on Wind Turbine Volume and Mooring and Anchoring Growth
Two positions matter, and they are set by component. Wind Turbine carries 36% of 2025 revenue (USD 18.72 billion) and is still the largest line in 2034 at 31%, hard to take from an incumbent. Mooring and Anchoring, at 19.84%, is where the USD 52 billion base is redistributed. The two demand different capabilities.
Additional Findings
| Segment | Led 2025 by | Share & value | Fastest-growing |
|---|---|---|---|
| Component | Wind Turbine | 36% · USD 18.72 billion | — |
| Foundation type | Monopile | 68% · USD 35.36 billion | Floating 30.6% |
| Turbine capacity | 8 MW to Less Than 12 MW | 45% · USD 23.4 billion | 15 MW and Above 37.69% |
| Water depth | Shallow Water (Less Than 30 m) | 58% · USD 30.16 billion | Deep Water (Above 60 m) 28.07% |
| Distance from shore | 30 km to 60 km | 41% · USD 21.32 billion | Above 100 km 25.88% |
| Turbine technology | Geared Drivetrain | 52% · USD 27.04 billion | Semi-Direct Drive 22.28% |
| Grid connection type | HVAC Transmission | 72% · USD 37.44 billion | Hybrid and Interconnector Links 24% |
| Project phase | Manufacturing and Supply | 45% · USD 23.4 billion | Decommissioning and Repowering 24% |
| Project ownership | Utility-Owned | 38% · USD 19.76 billion | Infrastructure Fund-Owned 21% |
| Offtake mechanism | Government Auction and Contract for Difference | 62% · USD 32.24 billion | Corporate Power Purchase Agreement 19.48% |
| Application | Utility-Scale Grid Power | 93% · USD 48.36 billion | Green Hydrogen Production 26.56% |
- Based on regional analysis, Asia Pacific led the global offshore wind market in 2025 with 47.5% of global revenue at USD 24.7 billion, reaching USD 72.24 billion by 2034.
- North America takes a rising share of global revenue over the forecast period, from 7% in 2025 to 11% in 2034, with revenue growing from USD 3.64 billion to USD 15.9 billion.
- Latin America stays the smallest contributor across the period: 1.5% of revenue in 2025 and 2% in 2034.
- No component line grows faster than Mooring and Anchoring, at a projected 19.84%.
- China is the largest single country market at USD 18.4 billion in 2025, 35.38% of global revenue.
Coverage runs to eleven axes, by component, and by foundation type, turbine capacity, water depth, distance from shore, turbine technology, grid connection type, project phase, project ownership, offtake mechanism and application, with a revenue figure and a growth rate for every line in every year from 2020 to 2034, and bear, base and bull cases on the headline total at USD 110.9 billion and USD 160.5 billion by 2034. All five regions are broken out to country level, alongside the competitive landscape and the methodology behind each estimate. The study is delivered as a PDF, and a free sample can be requested.