Asia-Pacific Offshore Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Asia-Pacific Offshore Energy Market is Segmented by Technology (Wind Energy, Wave Energy, Tidal Stream, Ocean Thermal Energy Conversion (OTEC), and Other Technologies) and Geography (China, Taiwan, South Korea, Japan, Vietnam, and the Rest of Asia-Pacific). The report offers the installed capacity and forecasts in capacity (GW) for all the above segments.

Asia-Pacific Offshore Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

APAC Offshore Energy Market Size

Asia-Pacific Offshore Energy Market  Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 9.00 %
Market Concentration Medium

Major Players

Asia-Pacific Offshore Energy Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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APAC Offshore Energy Market Analysis

The Asia-Pacific Offshore Energy Market is expected to register a CAGR of greater than 9% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has reached pre-pandemic levels.

  • Over the medium term, factors such as increasing demand for renewable energy sources, the rise in demand for sustainable energy sources, and the high efficiency of wind energy are driving the market growth.
  • On the other hand, the high cost of the offshore wind power system is a significant factor that may restrain the market growth during the forecast period. The high cost is due to heavy and oversized equipment moving to the offshore location.
  • Nevertheless, in an effort to fine-tune wind turbines for maximum efficiency, sophisticated software can integrate wind and weather patterns, sea levels, tides, and load patterns on the electrical grid with the use of big data and the Internet of Things (IoT) may create excellent opportunities for the offshore energy development in the coming years.
  • China is expected to dominate the market with various upcoming wind installation projects and encourage government policies to develop renewable energy sources.

APAC Offshore Energy Industry Overview

The Asia Pacific offshore energy market is fragmented. Some of the major players (in no particular order) include Xinjiang Goldwind Science & Technology Co. Ltd, Ming Yang Smart Energy Group Ltd, Envision Group, Suzlon Energy Ltd, and Mitsubishi Heavy Industries Ltd, among other companies.

APAC Offshore Energy Market Leaders

  1. Xinjiang Goldwind Science & Technology Co., Ltd.

  2. Ming Yang Smart Energy Group Ltd

  3. Suzlon Energy Ltd

  4. Envision Group

  5. Mitsubishi Heavy Industries Ltd

  6. *Disclaimer: Major Players sorted in no particular order
Asia-Pacific Offshore Energy Market Concentration
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APAC Offshore Energy Market News

  • August 2022: It has been announced that the first offshore wind zone in Australia has been declared by the federal government, giving developers the green light to increase planning and consultation for wind farms. The first offshore wind zone is expected to be established off the coast of Gippsland, in Victoria's southeast, with Hunter Valley and Illawarra, Portland in Victoria, Northern Tasmania, Perth in Western Australia, Bunbury in Western Australia, and other areas to follow.
  • June 2022: The Union Minister for Power and New & Renewable Energy announced transmission plans for offshore wind energy projects in India. The plan consists of transmission and evacuation infrastructure required for offshore wind projects with a total capacity of 10 GW off Gujarat and Tamil Nadu, which was discussed. It has been decided to bid out offshore wind energy blocks equivalent to a project capacity of 4.0 GW per year for a period of three years starting in FY 22-23 for the development off the coasts of Tamil Nadu and Gujarat for the sale of power through open access, captive, bi-lateral third party sales, and merchant sales. In subsequent years, a 5 GW capacity project will be awarded every year until FY 29-30. As well as benefiting from green attributes, such as carbon credits, the 8 GW bid out in the first two years will also be able to take advantage of these credits in the first two years beginning FY 22-23.

APAC Offshore Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Offshore Energy Installed Capacity and Forecast in GW, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION

  • 5.1 Technology
    • 5.1.1 Wind Energy
    • 5.1.2 Wave Energy
    • 5.1.3 Tidal Stream
    • 5.1.4 Ocean Thermal Energy Conversion (OTEC)
    • 5.1.5 Other Technologies
  • 5.2 Geography
    • 5.2.1 China
    • 5.2.2 Taiwan
    • 5.2.3 South Korea
    • 5.2.4 Japan
    • 5.2.5 Vietnam
    • 5.2.6 Rest of Asia-Pacific

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Xinjiang Goldwind Science & Technology Co. Ltd
    • 6.3.2 Ming Yang Smart Energy Group Ltd
    • 6.3.3 Suzlon Energy Ltd
    • 6.3.4 Envision Group
    • 6.3.5 Mitsubishi Heavy Industries Ltd
    • 6.3.6 Hann-Ocean Energy
    • 6.3.7 Siemens Gamesa Renewable Energy SA
    • 6.3.8 Vestas Wind Systems AS
    • 6.3.9 Nordex SE
    • 6.3.10 GE Renewable Energy
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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APAC Offshore Energy Industry Segmentation

The term offshore renewable energy refers to the generation of electricity from ocean-based resources, including wind turbines located offshore in the oceans and great lakes, as well as marine-based energy sources such as waves, tides, salinity, and thermal properties. It is considered offshore if a project utilizes ocean resources, for instance, a tidal generator that uses the flow of ocean tides. 

The Asia-Pacific offshore energy market is segmented by technology and geography. By technology, the market is segmented into wind energy, wave energy, tidal stream, ocean thermal energy conversion (OTEC), and other technologies. The report also covers the installed capacity and forecasts for the offshore energy market across the countries in the region. For each segment, the installed capacity and forecasts have been done based on capacity (GW).

Technology Wind Energy
Wave Energy
Tidal Stream
Ocean Thermal Energy Conversion (OTEC)
Other Technologies
Geography China
Taiwan
South Korea
Japan
Vietnam
Rest of Asia-Pacific
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APAC Offshore Energy Market Research FAQs

What is the current Asia-Pacific Offshore Energy Market size?

The Asia-Pacific Offshore Energy Market is projected to register a CAGR of greater than 9% during the forecast period (2025-2030)

Who are the key players in Asia-Pacific Offshore Energy Market?

Xinjiang Goldwind Science & Technology Co., Ltd., Ming Yang Smart Energy Group Ltd, Suzlon Energy Ltd, Envision Group and Mitsubishi Heavy Industries Ltd are the major companies operating in the Asia-Pacific Offshore Energy Market.

What years does this Asia-Pacific Offshore Energy Market cover?

The report covers the Asia-Pacific Offshore Energy Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Offshore Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Asia-Pacific Offshore Energy Industry Report

Statistics for the 2025 Asia-Pacific Offshore Energy market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Offshore Energy analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.