Mexico Offshore Wind Power Market

Mexico Offshore Wind Power Market Overview:

The Mexico offshore wind power market size reached USD 407.52 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 2,225.01 Million by 2033, exhibiting a growth rate (CAGR) of 18.50% during 2025-2033. The market is being driven by rising energy demand, favorable wind conditions, and increasing government support for renewable energy. Investments from international developers and advancements in turbine technology further accelerate growth. These factors collectively contribute to the increasing Mexico offshore wind power market share.

Mexico Offshore Wind Power Market Trends:

Strategic Coastal Geography Supporting Offshore Wind Development

Mexico's extensive coastlines along both the Pacific Ocean and the Gulf of Mexico provide an exceptional geographical foundation for offshore wind power development. These regions experience consistent and high wind speeds that are ideal for wind energy generation. In particular, the southern coastlines exhibit some of the highest offshore wind potential in Latin America. The accessibility of shallow waters near key energy hubs simplifies installation logistics and reduces construction costs. Additionally, proximity to urban centers and industrial zones enhances grid connectivity and energy distribution. The government’s recent initiatives to map high-potential zones for offshore wind further underscore the strategic use of its maritime geography. This natural advantage is a key contributor to Mexico Offshore Wind Power market growth and its future scalability. For instance, in December 2024, the U.S. Bureau of Ocean Energy Management (BOEM) announced plans of a new offshore wind lease auction in the Gulf of Mexico for 2026 after determining competitive interest from Invenergy and Hecate Energy. Both companies propose 2+ GW offshore wind farms using turbines up to 23 MW. The projects are planned off Southeast Texas, outside previously cancelled lease areas.

Regulatory Reforms Encouraging Renewable Energy Investments

In recent years, Mexico has undertaken regulatory reforms to bolster its renewable energy transition, particularly in offshore wind. Revisions to the Energy Transition Law and the strengthening of clean energy certificates (CELs) have made the policy landscape more attractive to foreign investors. The Mexican Ministry of Energy (SENER) is working in collaboration with international agencies to develop offshore wind guidelines and environmental permitting frameworks. These policy advancements aim to reduce project uncertainties, streamline approval processes, and promote transparency. Public-private partnerships are also being explored to accelerate financing for large-scale offshore installations. For instance, according to industry reports, by 2030, Mexico could generate 92 TWh annually from wind power, requiring an average installation of 1.7 GW per year to reach 30 GW total capacity. Wind energy would form a major part of Mexico’s renewable mix under IRENA’s REmap 2030, helping renewables supply 46% of electricity and 21% of total final energy use. Policy support, grid expansion, and integration are essential to harness this potential and reduce fossil fuel dependence. As a result, investor confidence is growing, thereby increasing capital inflows and facilitating Mexico offshore wind power market growth across multiple coastal regions.

Mexico 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 region/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:

• Northern Mexico
• Central Mexico
• Southern Mexico
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Mexico, Central Mexico, Southern Mexico, and Others.

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.

Mexico Offshore Wind Power Market News:

• In December 2024, Windar Renovables' Altamira factory in Mexico delivered the first offshore wind tower ever manufactured in the Americas, part of a 90-tower order for Siemens Gamesa’s 2.6 GW Coastal Virginia Offshore Wind project. This milestone marks Windarmex as the continent’s only offshore tower producer, creating 200 jobs and boosting regional industrial capability.
• In March 2024, Vestas secured a 319 MW order from Sempra Infrastructure for the Cimarron wind farm in Tecate, Baja California, part of the Energia Sierra Juarez Wind Complex, which will total 582 MW. The order includes 64 turbines and a 10-year service deal. Commissioning is expected in Q4 2025, strengthening Vestas' presence in Mexico.

Mexico Offshore Wind Power Market Report Coverage:

Key Questions Answered in This Report:

• How has the Mexico offshore wind power market performed so far and how will it perform in the coming years?
• What is the breakup of the Mexico offshore wind power market on the basis of installation?
• What is the breakup of the Mexico offshore wind power market on the basis of water depth?
• What is the breakup of the Mexico offshore wind power market on the basis of capacity?
• What is the breakup of the Mexico offshore wind power market on the basis of region?
• What are the various stages in the value chain of the Mexico offshore wind power market? 
• What are the key driving factors and challenges in the Mexico offshore wind power market?
• What is the structure of the Mexico offshore wind power market and who are the key players?
• What is the degree of competition in the Mexico 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 Mexico offshore wind power market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Mexico 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 Mexico 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.