of Bottom-Fixed and Floating Wind Turbines 2020 to 2030

(2020 – 2030)


This comprehensive report dedicated to Global Offshore Wind (inclusive of Bottom-Fixed and Floating Wind Turbines units) illustrates the growing market opportunities across the supply chain over the next 10 years including the most active developers, potential market size, pertinent project activity details and other vital metrics illustrated by region and construction timeline. Quest projects that more than 128.3 GW of Offshore Wind will be installed worldwide to 2030, a number that will grow exponentially following the addition of newly announced projects.

Major Report Findings

  • The wind industry continues to deliver value to enhance wind’s cost competitiveness and efficiency with steady improvements in the Levelized Cost of Electricity (LCoE). Since 2016, offshore wind particularly has pushed reductions in LCoE in excess of 50%.

  • As illustrated in the report’s figures, the offshore wind market to 2030 is sizeable representing $400 billion in CapEx comprising projected wind power capacity additions of 128.3 GW to be powered by 12,631 Fixed-Turbine Units in addition to 1,722 Floating Turbine Units (FTUs).

  • Projects with statuses Under Development and Planned represent 89.5 GW and total $277 billion in CapEx led by Europe with $139 billion, Asia/Pacific $79 billion, USA-Atlantic $51 billion and USA-Pacific with $6 billion. Across these projects, $120 billion will be allocated to turbines, $64 billion to substructures, $41 billion for cabling, $2 billion in moorings, and $24 billion on installation and the remainder, $27 billion, on project management, insurance and contingency. In all, 9,518 Fixed-Turbine Units plus 511 Floating Turbine Units (FTUs) are expected to be commissioned.

  • Twenty potential super-sized offshore wind projects, each ranging between $3.6 billion and $8.5 billion in CapEx, represent a meaningful share (about 25%) of the $400 billion total addressable market presently identified to 2030.

  • The distribution of projects between Asia Pacific and Europe is about equal. However, total CapEx and MW density are much higher in Europe at $177 billion and 57,592 MW, respectively, compared to $134 billion and 41,549 MW in Asia Pacific.