The offshore wind turbine market is USD 6,762 million in 2023, which will touch USD 24,603.5 million by 2030, progressing at 21% between 2024 and 2030. This is because of the application of promising policies of the government in numerous countries, huge investments in renewable energy sources, and continuous tech expansions in offshore plants.

The shallow water contributor category is the prime. This is because it consists of offshore wind turbines installed in water depths of up to 30 meters, and installation of wind towers in this depth is much easier and also reduces capital spending. 

Furthermore, shallow-water regions are perfect for building the foundation for wind towers and provide higher suitability over deep and transitional water.

Browse detailed report - Offshore Wind Turbine Market Analysis and Demand Forecast Report

Also, in the country, the first large-scale deep-sea offshore wind power project got underway in 2022 under the POWERCHINA initiative for connecting deepsea energy with the national electricity power grid. This kind of mission requires high-power turbines to work smoothly, which has, accordingly, endorsed the growth of the industry in the country.

Due to the considerable investments in renewable energy sources all over the globe, the demand for offshore wind turbines is on the rise, and will also continue to grow in the years to come as well.