India Offshore Wind Power Market Size & Forecast to 2033

India Offshore Wind Power Market Size, Share, Trends and Forecast by Installation, Water Depth, Capacity, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A30212

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India Offshore Wind Power Market Size and Share:

The India offshore wind power market size reached USD 1.15 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 3.08 Billion by 2033, exhibiting a growth rate (CAGR) of 11.52% during 2025-2033. The implementation of favorable government initiatives, technological advancements, increasing energy demand, favorable policies, international collaborations, growing focus on renewable energy targets and declining costs of offshore wind turbines are some of the key factors positively impacting India offshore wind power market share.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 1.15 Billion
Market Forecast in 2033	USD 3.08 Billion
Market Growth Rate (2025-2033)	11.52%

India Offshore Wind Power Market Trends:

Government Support and Policy Framework

The extensive government support and strategic policy frameworks are positively influencing the India offshore wind power market outlook. As per an industry report, by 2030, the Ministry of New and Renewable Energy (MNRE) aims to have 30 GW of offshore wind power installed, with a specific focus on the coastal states of Tamil Nadu and Gujarat. The government is also making constant efforts to establish a regulatory framework that is conducive to offshore wind development. This includes the identification of suitable locations, simplification of the permitting process, and the introduction of financial incentives to encourage investment. The government is also developing auction mechanisms to assign offshore wind capacity, ensuring long-term project viability. These policy initiatives are aimed at minimizing risks for developers and making offshore wind an integral part of India's renewable energy mix. In addition, cooperation with international agencies is assisting India in adopting global best practices and enhancing efficiency in offshore wind installations. Regulatory clarity and supportive policies are likely to drive project deployment, bringing offshore wind closer to commercialization and integration into the national grid.

India Offshore Wind Power Market Size

Progress in Offshore Wind Technology

Technological advancements are rapidly enhancing the feasibility of offshore wind energy in India, driving economic growth. A report published on February 17, 2025, highlights Tamil Nadu’s immense potential, estimating that offshore wind development could contribute up to EUR 72 Billion (about USD 75.4 Billion) to economic growth and generate 805,000 jobs in the manufacturing supply chain by 2030. The forecast is in line with India's ambitious target of achieving 37 GW of offshore wind capacity by the same year. One of the key drivers of progress in offshore wind power is innovation in turbine technology, foundation design, and grid integration, all of which are reducing costs and improving energy efficiency. The development of larger turbines with improved capacity factors is allowing offshore wind farms to deliver more power from fewer installations, making projects economically viable. In addition, floating offshore wind technology is allowing installation in deeper waters where winds are stronger and more consistent, improving efficiency and reliability in power output. At the same time, innovation in subsea cable technology is improving transmission infrastructure, delivering efficient transmission of energy to onshore grids with minimal loss. All these technological advancements are contributing to India offshore wind power market growth.

India Offshore Wind Power Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on installation, water depth, and capacity.

Installation Insights:

Fixed Structure
Floating Structure

The report has provided a detailed breakup and analysis of the market based on the installation. This includes fixed structure and floating structure.

Water Depth Insights:

Up to 30m
Above 30m

A detailed breakup and analysis of the market based on the water depth have also been provided in the report. This includes up to 30m and above 30m.

Capacity Insights:

Up to 3MW
3MW to 5MW
Above 5MW

The report has provided a detailed breakup and analysis of the market based on the capacity. This includes up to 3MW, 3MW to 5MW, and above 5MW.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Offshore Wind Power Market News:

On June 19, 2024, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved a Viability Gap Funding (VGF) initiative with a total investment of INR 7,453 Crore (about USD 855 Million). to create India's first offshore wind energy projects. Among this, INR 6,853 Crore, or roughly USD 786 Million, has been set aside for the installation of 1 GW of offshore wind capacity as part of this effort.
On September 16, 2024, a 500 MW offshore wind power project off the Gujarat coast was put out to bid by the Solar Energy Corporation of India (SECI). In order to increase India's capacity for renewable energy, the project, which will be built on a build-own-operate basis, intends to connect to the Inter-State Transmission System (ISTS).

India Offshore Wind Power Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Installation Water Depth Capacity Region
Installations Covered	Fixed Structure, Floating Structure
Water Depths Covered	Up to 30m, Above 30m
Capacities Covered	Up to 3MW, 3MW to 5MW, Above 5MW
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India offshore wind power market performed so far and how will it perform in the coming years?
What is the breakup of the India offshore wind power market on the basis of installation?
What is the breakup of the India offshore wind power market on the basis of water depth?
What is the breakup of the India offshore wind power market on the basis of capacity?
What is the breakup of the India offshore wind power market on the basis of region?
What are the various stages in the value chain of the India offshore wind power market?
What are the key driving factors and challenges in the India offshore wind power market?
What is the structure of the India offshore wind power market and who are the key players?
What is the degree of competition in the India offshore wind power market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India offshore wind power market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India offshore wind power market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India offshore wind power industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

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