North America Offshore Wind Turbine Market Size - By Rating (<= 2 MW, >2 <= 5 MW, > 5 <= 8 MW, > 8 <= 10 MW, > 10 <= 12 MW, > 12 MW), By Installation (Floating, Fixed), Country Outlook & Forecast, 2024 - 2032

North America Offshore Wind Turbine Industry will register a 22.4% CAGR over 2024-2032, owing to technological breakthroughs and investment in infrastructure. Innovations in turbine design, installation techniques, and maintenance processes enhance efficiency and reduce costs, making offshore wind projects more viable. Also, substantial investments in ports, transmission networks, and specialized vessels support the robust development of offshore wind infrastructure. These advancements and financial commitments facilitate the deployment of larger and more efficient wind farms, contributing to the rapid expansion of the market.

For instance, in July 2024, Maersk Supply Service launched Maersk Offshore Wind, a company providing installation services to the offshore wind market, with a new wind installation vessel concept. The introduction of a new wind installation vessel concept indicates potential cost reductions and improved project timelines, thereby attracting more investment into the sector. This initiative by a major industry player underscores growing confidence and commitment to expanding offshore wind energy in North America.

The overall North America offshore wind turbine industry is segmented based on rating, installation, and region.

The <= 2 MW rating segment will witness remarkable expansion through 2032 due to its suitability for smaller-scale, cost-effective installations. Turbines with this rating are ideal for early-stage projects and sites with moderate wind conditions, offering a balance between performance and investment. Their smaller size allows for easier integration into existing infrastructure and provides a lower entry cost for developers. As the offshore wind sector expands, these turbines will play a crucial role in scaling up capacity and driving market growth.

The fixed segment will garner considerable gains by 2032, attributed to its established technology and cost-effectiveness for shallow water installations. Fixed-bottom turbines, anchored directly to the seabed, offer reliability and lower initial costs than floating alternatives. Their proven performance and simpler installation process make them a preferred choice for the region's offshore wind projects. As developers seek to capitalize on existing technologies and infrastructure, fixed-bottom turbines will remain dominant in expanding North America's offshore wind capacity.

Canada offshore wind turbine Industry will reach a noteworthy CAGR during 2024 and 2032, propelled by its vast coastal areas and strong government support for renewable energy initiatives. The country's commitment to reducing carbon emissions and transitioning to sustainable energy sources drives significant investment in offshore wind projects. Additionally, advancements in technology and favorable regulatory frameworks further boost market growth. Canada's strategic initiatives and abundant natural resources make it a crucial contributor to the expansion of the North America offshore wind turbine Market.