North America Floating Offshore Wind Power Market grows with rising renewable demand and ability to harness stronger, consistent winds in deeper waters during the forecast period.

According to a recent TechSci Research report, “North America Floating Offshore Wind Power Market – By Country, Competition, Forecast & Opportunities, 2020-2030F”, the market was valued at USD 1.52 billion in 2024 and is projected to reach USD 4.02 billion by 2030, growing at a CAGR of 17.60% during the forecast period.

Floating offshore wind is quickly moving from a niche innovation to a mainstream renewable energy solution in North America, driven by infrastructure investments, supply chain development, and integration with emerging energy technologies like green hydrogen.

Building Strong Foundations: Port Infrastructure & Supply Chains

One of the most significant enablers of floating offshore wind power in North America is the robust investment in port infrastructure and marine supply chains. Unlike fixed-bottom wind projects, floating wind installations demand specialized facilities for turbine assembly, platform integration, and transportation logistics.

Ports must be equipped with heavy-lift cranes, large vessels, and extensive laydown areas to handle massive components. Recognizing this need, ports along both coasts are undergoing upgrades. Notable examples include the Port of Long Beach in California and the Port of Halifax in Nova Scotia, which are evolving into critical staging grounds for offshore wind projects.

Beyond ports, regional supply chains are being customized for floating wind energy. Domestic fabrication of mooring systems, subsea cables, and turbine towers is gaining traction, reducing reliance on international imports while creating local economic opportunities. Governments are actively supporting this transition through grants, subsidies, and public-private partnerships that de-risk investments and accelerate capacity building.

As a result, North America is witnessing the emergence of specialized manufacturing clusters and skilled workforce programs dedicated to offshore wind. This integrated ecosystem strengthens project execution, reduces costs, and positions the region as a competitive hub for floating wind power.

A Game-Changer: Floating Wind Meets Green Hydrogen

A key trend reshaping the market is the integration of floating offshore wind power with green hydrogen production. As industries look for decarbonization solutions in shipping, aviation, and heavy manufacturing, green hydrogen is emerging as a critical enabler.

Floating wind offers the perfect complement: high-capacity, consistent renewable electricity generated in remote marine environments. Several pilot projects are exploring co-locating electrolyzers on floating platforms or nearby coastal facilities powered directly by offshore wind.

This model enables:

• Conversion of excess electricity into hydrogen for storage and transport.

• Grid stabilization through energy balancing.

• Creation of new export opportunities for hydrogen in markets such as Asia and Europe.

For North America, this trend presents strategic opportunities. With abundant offshore wind potential in the U.S. and Canada, both countries are well-positioned to become key suppliers in the global hydrogen economy. This hybrid approach—combining floating wind and hydrogen production—could redefine the region’s role in the clean energy transition.

Technology Spotlight: Growth of 3–5 MW Turbines

From a technology perspective, the 3–5 MW turbine capacity segment is emerging as the fastest-growing category in the North American floating offshore wind market.

This segment provides a balanced combination of efficiency and cost-effectiveness:

• Large enough to capture significant wind energy.

• Manageable in terms of installation and maintenance costs compared to larger turbines above 5 MW.

• Flexible enough to operate effectively in varying coastal wind conditions.

Technological innovations have enhanced the reliability and performance of these turbines, making them particularly suitable for deepwater zones and transitional areas where floating wind farms are being developed.

For developers and investors, 3–5 MW turbines represent faster project deployment, lower risk, and quicker returns on investment. Coupled with supportive government policies and renewable energy incentives, this segment is poised to play a pivotal role in scaling floating offshore wind power across North America.

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Mexico: The Fastest-Growing Market

While the U.S. and Canada currently dominate the floating offshore wind landscape, Mexico is emerging as the fastest-growing country in the region.

The Gulf of Mexico offers vast potential for floating wind farms, with deepwater areas ideally suited for installations. Supported by favorable coastal geography and government policies promoting renewable energy, Mexico is rapidly building momentum.

Several factors contribute to this trajectory:

• Clean energy investment policies encouraging private sector participation.

• Competitive leasing processes for offshore wind sites in the Gulf.

• Private investments in infrastructure and technology, creating a conducive environment for growth.

With ambitious renewable targets set for 2030, Mexico is on track to become a regional leader in floating offshore wind power, attracting both domestic and international investors eager to capitalize on its untapped potential.

Strategic Outlook

The North America Floating Offshore Wind Power Market is not just growing—it is transforming the future of renewable energy in the region. Driven by infrastructure readiness, supply chain development, and integration with emerging technologies like hydrogen, floating wind is evolving into a cornerstone of North America’s clean energy mix.

Key success factors moving forward will include:

• Scaling infrastructure investments across major ports.

• Expanding regional supply chains to ensure resilience and cost efficiency.

• Leveraging hybrid models that combine floating wind with hydrogen production.

• Encouraging cross-border collaboration, particularly as Mexico emerges as a new hotspot.

As North America accelerates toward its decarbonization goals, floating offshore wind power is set to become a critical driver of sustainable energy, economic growth, and global competitiveness.

Key market players in the North America Floating Offshore Wind Power market are:

TotalEnergies SE
RWE Renewables GmbH
Ørsted A/S
BP p.l.c.
Shell plc
Dominion Energy, Inc.
Enel SpA
General Electric Company

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“The North America Floating Offshore Wind Power Market is expected to grow significantly in the coming years, driven by increasing demand for clean and renewable energy sources. Advancements in floating platform technology enable efficient energy capture in deepwater locations previously inaccessible to traditional fixed turbines. Supportive government policies, including substantial funding and incentives, are accelerating project development and infrastructure expansion.

Strategic partnerships between energy companies and investments in grid integration are further boosting market growth. As environmental concerns and carbon reduction targets intensify, the market is positioned to expand rapidly, making North America a key region in the global floating offshore wind power landscape.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based Global management consulting firm.

“North America Floating Offshore Wind Power Market By Water Depth (Shallow Water (Less Than 30 M Depth), Transitional Water (30 M to 60 M Depth), Deep Water (Higher Than 60 M Depth)), By Turbine Capacity (Up to 3 MW, 3-5 MW, Above 5 MW), By Country, Competition, Forecast and Opportunities, 2020-2030F,” has evaluated the future growth potential of North America Floating Offshore Wind Power Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in North America Floating Offshore Wind Power Market.

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