APAC Offshore Wind Market Research Report By Technology (Floating Turbines, Fixed Bottom Turbines, Hybrid Systems), By Installation Type (Installed Capacity, Grid Connected, Non-Grid Connected), By Turbine Size (Small Scale, Medium Scale, Large Scale), By Application (Energy Generation, Desalination, Aquaculture) and By Regional (China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC)-Forecast to 2035

APAC Offshore Wind Market Overview

As per MRFR analysis, the APAC Offshore Wind Market Size was estimated at 10.98 (USD Billion) in 2023. The APAC Offshore Wind Market Industry is expected to grow from 12(USD Billion) in 2024 to 32 (USD Billion) by 2035. The APAC Offshore Wind Market CAGR (growth rate) is expected to be around 9.326% during the forecast period (2025 - 2035).

Key APAC Offshore Wind Market Trends Highlighted

The APAC Offshore Wind Market is witnessing significant trends influenced by regional commitments to renewable energy and sustainability. Countries in the region are increasingly investing in offshore wind projects to meet their growing energy demands while reducing carbon emissions. Key market drivers include government policies that support renewable energy deployment, technological advancements in turbine design, and substantial investments from both public and private sectors. Nations like China, Japan, and South Korea are leading the charge, with ambitious targets to expand their offshore wind capacities, capitalizing on favorable maritime conditions and advanced installation technologies.

There is no shortage of opportunities in the Floating Wind technology’s turbine manufacturing sector along with its maintenance services. There is an increasing need for clean energy in this region, which indicates that there is also demand for local suppliers and skilled workers; this is a very big opportunity for local businesses to grow and develop. Recently, there has been a tendency of forming partnerships between the Government and Private sectors aimed to foster cooperation in order to facilitate project execution and mitigate investment risks. The growing interest from overseas investors also demonstrates how internationally competitive APAC is in the field of offshore wind development.

Overall, these trends highlight a shift towards greater reliance on renewable energy sources in APAC, paving the way for market growth and enhanced energy security in the region. Efforts to streamline regulatory processes and improve infrastructure will further enhance the feasibility of offshore wind projects, marking a transformative phase for the APAC energy landscape.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

APAC Offshore Wind Market Drivers

Increasing Commitment to Renewable Energy Targets

Countries in the Asia-Pacific (APAC) region have shown a strong commitment to increasing their renewable energy capacities, which significantly drives the APAC Offshore Wind Market Industry. For instance, China, as the largest market in this region, aims to generate 20% of its total energy consumption from renewable sources by 2025. This ambitious target underscores the government’s focus on reducing carbon emissions and combating climate change. As part of this commitment, the National Energy Administration of China has set a goal to install 50 gigawatts of offshore wind capacity by 2030.Similarly, other APAC countries, such as Japan and South Korea, are also implementing legislation to promote offshore wind energy, with Japan planning to launch its first commercial offshore wind farms by 2025 and South Korea investing significantly in its offshore wind projects. This collective push towards renewable energy exemplifies an increasing commitment that is expected to propel the growth of the APAC Offshore Wind Market Industry.

Technological Advancements in Wind Turbine Designs

The APAC Offshore Wind Market Industry is significantly driven by technological advancements in wind turbine designs. Recent innovations have led to the development of larger, more efficient turbines capable of generating more energy from lower wind speeds. For example, firms such as Siemens Gamesa have introduced turbines with capacities exceeding 10 megawatts, which can decrease the overall cost of energy generation. As a result, the levelized cost of electricity generated from offshore wind has fallen significantly, making it a more attractive option for energy producers.The increasing investments in Research and Development (R&D) among key market players, supported by initiatives from organizations such as the Asia Wind Energy Association, play a crucial role in advancing these technologies within the APAC region.

Government Policies and Incentives

The APAC Offshore Wind Market Industry benefits from favorable government policies and incentives aimed at boosting renewable energy adoption. Government entities across the region are providing various financial incentives, such as tax breaks and subsidies, making offshore wind projects more economically viable. In countries like Taiwan, the government has committed to a feed-in tariff for offshore wind energy, which guarantees a fixed price for energy produced, thus encouraging investments.Reports indicate that Taiwan is planning to install 5.5 gigawatts of offshore wind capacity by 2025, supported by its government policies. This trend of supportive regulatory frameworks across APAC countries fosters a conducive environment for the growth of the offshore wind market.

Growing Energy Demand in APAC Region

The increasing energy demand in the APAC region is a significant driver for the APAC Offshore Wind Market Industry. The population growth and rapid urbanization in countries like India, Vietnam, and the Philippines have resulted in a surge in electricity consumption. According to the International Energy Agency, electricity demand in Southeast Asia is expected to grow by 60% from 2020 to 2040. This rising demand necessitates investments in diverse energy sources, including offshore wind technology, to ensure energy security and sustainable growth. Consequently, to meet this demand, countries such as India are exploring offshore wind energy, with the government setting a target for 5 gigawatts of offshore wind installations by 2022. Therefore, this increasing energy demand translates into a more robust market for offshore wind power across the APAC region.

APAC Offshore Wind Market Segment Insights

Offshore Wind Market Technology Insights

The APAC Offshore Wind Market has been experiencing significant growth, particularly within the Technology segment, which encompasses various innovative solutions, including Floating Turbines, Fixed Bottom Turbines, and Hybrid Systems. Floating Turbines are gaining traction due to their ability to be deployed in deeper waters, which allows harnessing higher wind speeds that are not accessible to traditional turbines. This technology is especially relevant in regions like Japan and South Korea, where suitable seabed conditions for Fixed Bottom Turbines may be limited.Fixed Bottom Turbines continue to dominate the market because of their established technology and proven reliability, making them a preferred choice for many existing offshore wind farms in the region.

As countries within the APAC region commit to their renewable energy targets, there is a growing interest in Hybrid Systems, which combine the benefits of different technologies, improving overall efficiency and resilience against varying environmental conditions. The innovation seen in the APAC Offshore Wind Market is driven by advancements in turbine design, materials, and software technologies, making the sector increasingly competitive on a global scale.

Factors such as government policies promoting renewable energy, investment incentives, and technological breakthroughs are contributing to the accelerated adoption of these technologies. Moreover, the region's unique geographical characteristics create both challenges and opportunities for the Offshore Wind Market, prompting a tailored approach to technology deployment and development. As the market evolves, the interplay between these technologies will play a crucial role in shaping the future energy landscape in the APAC region. The growing emphasis on sustainability and carbon neutrality further underscores the importance of these technologies in addressing energy demands while minimizing environmental impacts.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Offshore Wind Market Installation Type Insights

The APAC Offshore Wind Market is witnessing significant growth, primarily characterized by the Installation Type segment, which is crucial to its overall expansion. This segment can be categorized into three important divisions: Installed Capacity, Grid Connected, and Non-Grid Connected systems. Installed Capacity remains a critical aspect, reflecting the ability to harness wind energy effectively and cater to the growing energy demands of the region. Grid Connected systems facilitate integration into national power grids, allowing for greater energy efficiency and stability, thereby playing a crucial role in transitioning to renewable energy sources.Non-Grid Connected options, while less common, are important for providing energy access to remote areas and are becoming increasingly relevant as the focus on sustainability and energy independence grows.

The market in the APAC region is driven by ambitious governmental policies aimed at increasing renewable energy adoption alongside rising environmental awareness among consumers. Additionally, technological advancements in offshore wind turbine design and installation methods continue to bolster market growth, presenting significant opportunities for players within the industry.However, challenges remain, such as regulatory hurdles and the high initial investment required for projects. Understanding these segments and their dynamics is essential for navigating the APAC Offshore Wind Market effectively.

Offshore Wind Market Turbine Size Insights

The Turbine Size segment of the APAC Offshore Wind Market is critical in determining the overall efficiency and output of wind energy generation. With increasing energy demands in the region, larger turbines are gaining prominence due to their ability to generate more power from a single unit, thereby offering significant returns on investment. Medium Scale turbines, while not as powerful as their larger counterparts, provide flexibility in various marine environments, making them suitable for a range of offshore projects. Small Scale turbines, increasingly adopted for localized energy needs, play an essential role in fostering community-based renewable energy initiatives.

The APAC region is focusing on investing in renewable energy sources to meet its commitments towards reducing greenhouse gas emissions, thereby creating favorable conditions for the growth of different turbine sizes in the offshore wind industry. With advanced technology and a supportive policy framework, there is an opportunity for diversification within the Turbine Size segment, allowing for tailored solutions to suit various geographic and market needs. The demand for these turbine sizes is largely driven by the necessity for sustainable energy solutions and the government's push towards meeting renewable energy targets.

Offshore Wind Market Application Insights

The Application segment of the APAC Offshore Wind Market plays a vital role in driving the region's renewable energy landscape. With a strong focus on Energy Generation, this segment facilitates the harnessing of wind energy to produce electricity, contributing significantly to the region's overall power supply and aiding in the transition towards greener energy sources. The importance of Desalination in this context cannot be overstated, as it utilizes offshore wind energy to provide sustainable solutions for freshwater shortages, especially in countries facing severe water scarcity challenges due to climate change.

Furthermore, Aquaculture benefits from the rising adoption of offshore wind farms as they provide a sustainable environment for fish farming, enhancing food security while promoting ecological balance. The interplay of these Applications highlights a forward-thinking approach in the APAC region, as governments and industries prioritize the development of clean and sustainable solutions to address energy, water, and food needs, thus creating a more resilient and sustainable future. Growth in this market impacts not only energy statistics but also offers opportunities for innovation and technological advancements, reinforcing the region's commitment to energy transition.

Offshore Wind Market Regional Insights

The APAC Offshore Wind Market is experiencing significant momentum, driven by growing energy demands and commitment to renewable sources across the region. China holds a dominant position in the Offshore Wind Market, actively investing in large-scale projects that contribute substantially to its renewable energy targets. India is emerging as a key player as well, focusing on harnessing its vast coastline for wind energy production, which is vital for meeting its increasing power needs. Japan is advancing its offshore capabilities, fueled by government support and innovations in technology, while South Korea is prioritizing offshore projects to enhance energy security and sustainability.Malaysia and Thailand are also developing their offshore wind potential, albeit at a slower pace, but recognize the importance of diversifying energy sources. Indonesia is beginning to explore offshore wind energy as a part of its broader strategy to boost renewable capacity.

Collectively, these nations are showcasing a strong commitment to growing the APAC Offshore Wind Market industry, reflecting the increasing importance of renewable energy in tackling climate change and ensuring energy stability in the region. The APAC Offshore Wind Market revenue is expected to benefit from these developments as efforts expand in harnessing wind energy potential across various coastal areas.The APAC Offshore Wind Market statistics highlight the promising future of this sector, which is likely to become a cornerstone for sustainable energy practices in the years to come.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

APAC Offshore Wind Market Key Players and Competitive Insights

The APAC Offshore Wind Market is experiencing significant growth and transformation, becoming a focal point for renewable energy investments and technological advancements. As countries in the Asia-Pacific region adopt aggressive renewable energy targets to combat climate change and enhance energy security, the offshore wind sector is poised for rapid expansion. This market is characterized by a diverse range of players, from large multinational corporations to emerging local companies. The competitive landscape includes a blend of established firms with vast experience in wind technology and infrastructure development, along with innovative startups focusing on unique solutions tailored to the region's specific conditions.

The interplay of government policies, investment inflows, and technological improvements will shape the dynamics of competition, driving both efficiency and innovation in the sector. Companies are increasingly focusing on collaboration and strategic partnerships to leverage expertise and enhance market share, thus creating a vibrant ecosystem that promotes sustainable growth.Siemens Gamesa stands out as a key player in the APAC Offshore Wind Market, leveraging its extensive experience and technological prowess to strengthen its market position. The company has developed a range of multi-megawatt turbines specifically designed for offshore applications, optimizing them for the varying wind conditions prevalent in the region.

Siemens Gamesa's strengths lie in its ability to deliver efficient, reliable turbine solutions and its commitment to research and development, which allows for continual enhancements in technology and service offerings. Furthermore, the company has established a strong presence by actively participating in large-scale offshore wind projects across several APAC countries. This engagement not only solidifies its reputation in the market but also ensures a pipeline of future opportunities, making Siemens Gamesa a formidable competitor. Their focus on localized manufacturing and supply chain strategies further enhances operational efficiencies and cost-effectiveness, allowing them to respond swiftly to the evolving demands of the APAC offshore wind sector.Copenhagen Infrastructure Partners is another influential entity in the APAC Offshore Wind Market, recognized for its strategy of investing in large-scale renewable energy projects with significant potential for growth.

The company focuses on several key products and services, including the development, investment management, and operation of offshore wind facilities. Its approach is characterized by long-term partnerships and collaborations aimed at maximizing project outcomes and minimizing risks. Copenhagen Infrastructure Partners has effectively capitalized on the APAC market by engaging in high-value projects that contribute to the region's renewable energy goals.

Their strengths include a robust financial backing and deep sector expertise, which allow them to navigate the complexities of project development and regulatory environments effectively. The company has also been involved in notable mergers and acquisitions that enhance its portfolio, strengthening its market position and enabling it to leverage synergies in offshore wind development. By aligning its objectives with regional sustainability goals, Copenhagen Infrastructure Partners continues to play a pivotal role in shaping the future of offshore wind energy in the Asia-Pacific region.

Key Companies in the APAC Offshore Wind Market Include

• Siemens Gamesa


• Copenhagen Infrastructure Partners


• Norwegian Energy Company


• RWE Renewables


• Enel Green Power


• EDP Renewables


• GE Renewable Energy


• SSE Renewables


• State Power Investment Corporation


• Brookfield Renewable Partners


• China Three Gorges Corporation


• MHI Vestas


• Japan Renewable Energy Corporation


• Orsted


• China Longyuan Power Group

APAC Offshore Wind Market Industry Developments

Recent developments in the APAC Offshore Wind Market indicate a growing focus on renewable energy sources, with significant investments and project announcements from key players. Siemens Gamesa has expanded its operations in Japan, ensuring the delivery of advanced wind turbine technology to support the country's ambitious renewable goals. Meanwhile, Copenhagen Infrastructure Partners announced a strategic partnership with RWE Renewables to jointly develop offshore wind projects in South Korea, aiming to enhance regional energy security. The Norwegian Energy Company has also entered the APAC market, focusing on projects in Vietnam.

In terms of current affairs, GE Renewable Energy and Orsted are collaborating on a transformative offshore wind project in Taiwan, which is set to significantly boost the local economy and job market. Notably, in June 2023, China Longyuan Power Group acquired a significant stake in a major offshore wind farm in the Philippines, highlighting the ongoing trend of mergers and acquisitions in the sector. Furthermore, investments from the State Power Investment Corporation reflect a broader push towards sustainable infrastructure across the region, indicating robust market growth dynamics that are reshaping the energy landscape in APAC.

APAC Offshore Wind Market Segmentation Insights

Offshore Wind Market Technology Outlook

• Floating Turbines


• Fixed Bottom Turbines


• Hybrid Systems

Offshore Wind Market Installation Type Outlook

• Installed Capacity


• Grid Connected


• Non-Grid Connected

Offshore Wind Market Turbine Size Outlook

• Small Scale


• Medium Scale


• Large Scale

Offshore Wind Market Application Outlook

• Energy Generation


• Desalination


• Aquaculture

Offshore Wind Market Regional Outlook

• China


• India


• Japan


• South Korea


• Malaysia


• Thailand


• Indonesia


• Rest of APAC

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	10.98(USD Billion)
MARKET SIZE 2024	12.0(USD Billion)
MARKET SIZE 2035	32.0(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	9.326% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	Siemens Gamesa, Copenhagen Infrastructure Partners, Norwegian Energy Company, RWE Renewables, Enel Green Power, EDP Renewables, GE Renewable Energy, SSE Renewables, State Power Investment Corporation, Brookfield Renewable Partners, China Three Gorges Corporation, MHI Vestas, Japan Renewable Energy Corporation, Orsted, China Longyuan Power Group
SEGMENTS COVERED	Technology, Installation Type, Turbine Size, Application, Regional
KEY MARKET OPPORTUNITIES	Government incentives for renewable energy, Growing demand for clean energy, Technological advancements in turbines, Expansion of grid infrastructure, Collaboration with international firms
KEY MARKET DYNAMICS	government policies support, technological advancements, increasing energy demand, investment influx, environmental sustainability focus
COUNTRIES COVERED	China, India, Japan, South Korea, Malaysia, Thailand, Indonesia, Rest of APAC