FLECS – Floating offshore wind

The Business Research Company’s 2026 report on FLOW summarises the sector.  “Floating offshore wind power is a renewable energy technology with wind turbines installed on floating platforms rather than being fixed directly to the seabed. These floating platforms are anchored to the ocean floor with mooring lines, allowing the turbines to operate in deeper water areas where traditional fixed-bottom structures are not feasible. This technology enables access to stronger and more consistent wind resources far offshore, potentially increasing the efficiency and capacity of wind power generation while minimizing environmental and visual impacts near the coast. The floating offshore wind power market size is expected to see exponential growth in the next few years. It will grow to $2.27 billion in 2030 at a compound annual growth rate (CAGR) of 47.5%. The growth in the forecast period can be attributed to expansion in deep-water wind projects, supportive policies for renewable energy, innovations in floating platform technology, integration with hydrogen production, increasing focus on carbon neutrality.”