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
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 1.15 Billion |
Market Forecast in 2033 | USD 3.08 Billion |
Market Growth Rate (2025-2033) | 11.52% |
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.
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.
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:
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:
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:
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:
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.
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.
Report Features | Details |
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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:
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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:
Key Benefits for Stakeholders: