China Offshore Wind Market

Overview

The China offshore wind market was valued at USD 4.6 billion in 2025 and is projected to reach USD 9.3 billion by 2034, growing at a CAGR of 8.1% during the forecast period (2026-2034). The market is driven by China's continued commitment to expanding renewable energy capacity, supported by national carbon neutrality targets, large-scale offshore wind deployment, and sustained investments in grid infrastructure. Increasing demand for clean electricity, advancements in high-capacity wind turbines, and the development of deep-water offshore projects are further accelerating market growth. The market is shifting from conventional, shallow-water, fixed-bottom projects clustered around Jiangsu toward larger-capacity turbines, deeper-water sites, and early floating foundation deployment concentrated off Guangdong, Fujian, and Hainan. Government initiatives such as the 14th Five-Year Plan coastal-province offshore wind targets, which collectively outlined roughly 52-64 GW of installed capacity by 2025, and the October 2025 Beijing Declaration 2.0, which commits China to at least 15 GW of new offshore wind capacity annually and roughly 120 GW of total wind capacity annually through the remainder of the decade, are the principal policy drivers underpinning continued build-out, alongside provincial subsidy schemes in Guangdong, Shandong, and Zhejiang. Guangdong is estimated to hold the largest share of the China offshore wind market in 2025, supported by roughly 30 GW of projects announced, under construction, or in the pipeline and the province's own subsidy scheme. Fujian is projected to be the fastest-growing province through 2034, driven by its role as the testbed for China's largest flagship turbines, including the world's first 20 MW unit connected to the grid in February 2026.

Market Size & Share

Market Dynamics

KEY MARKET TREND

Ultra-Large-Capacity Turbines and Deep-Water Deployment Emerging as a Transformational Trend

• Chinese manufacturers are pushing single-turbine capacity well beyond global norms: China Three Gorges Corporation and Goldwind commissioned the world's first 20 MW offshore wind turbine in waters off Fujian Province, connecting it to the grid on February 5, 2026, with a 174-metre hub height and 300-metre rotor diameter.
• The 20 MW unit is built with domestically developed airfoil blades and a lightweight, digitally integrated design that cuts weight per megawatt by more than 20% versus the industry average, extending China's turbine manufacturing capability into waters deeper than 40 metres and more than 30 kilometres offshore.
• Rival manufacturers Mingyang Smart Energy and Dongfang Electric are developing competing turbines in the 18-26 MW range, intensifying a domestic capacity race that is compressing the interval between successive flagship-turbine milestones.
• China Huaneng commissioned the 504 MW Shandong Peninsula North offshore wind farm, described as the country's deepest-water offshore project to date, reflecting the broader industry shift from shallow coastal sites toward more technically demanding deep-water development.
  

KEY MARKET DRIVER

14th Five-Year Plan Provincial Targets and the Beijing Declaration 2.0 are Driving Market Growth

• China's coastal provinces collectively set offshore wind capacity targets of roughly 52-64 GW under the 14th Five-Year Plan (2021-2025), with China's operational offshore wind fleet already exceeding 40 GW by early 2025, close to meeting the combined provincial goals.
• China signed the Beijing Declaration 2.0, committing to annual installed wind power capacity of no less than 120 GW, including no less than 15 GW of offshore wind capacity per year, through the remainder of the decade.
• Provincial governments in Guangdong, Shandong, and Zhejiang have introduced dedicated offshore wind subsidy schemes to bridge the gap left by the phase-out of central-government feed-in tariffs after 2021, sustaining project economics as the industry transitions toward grid parity.
• Building on 14th Five-Year Plan momentum, China’s 15th Five-Year Plan (2026–2030) pipeline projects that annual offshore wind installations will maintain a pace of at least 15 GW per year, driving cumulative national offshore wind capacity beyond 100 GW by 2030.
  

KEY MARKET OPPORTUNITY

Floating Foundations and High-Voltage Transmission Infrastructure Creating New Revenue Streams

• Floating foundation technology is opening deep-water sites off Guangdong and Hainan that fixed-bottom foundations cannot economically reach, with a world-record-scale floating turbine installed off Guangdong in May 2026, extending the technology beyond the pilot stage.
• Green hydrogen production powered by offshore wind is being piloted in Fujian, Guangdong, and Shandong with central policy support, opening a downstream revenue stream beyond direct electricity sales.
• Long-distance, high-capacity transmission infrastructure is emerging as a distinct investment opportunity: the "Hai Feng Zhi Xin" offshore converter station, described as the world's largest at 2,000 MW/500 kV ultra-high-voltage direct current capacity, departed for installation off Guangdong on May 28, 2026, to support bulk power evacuation from increasingly remote wind farms.
• Hainan's planned 1,000 MW Wanning floating offshore wind farm, with a first 200 MW phase scheduled for completion by the end of 2025, illustrates the pipeline of floating and deep-water capacity that is expected to broaden the addressable market for foundation, mooring, and dynamic-cable suppliers over the next decade.

China Offshore Wind Market Size, 2025-2034 (USD Billion)

Segmentation Analysis

Analysis by Component

Turbines held the largest share of the China offshore wind market in 2025, reflecting their position as the highest-value component of any offshore wind project and the intense domestic competition among Goldwind, Envision, Mingyang, and Dongfang Electric to commercialize successive generations of larger units, most recently the 20 MW turbine connected in Fujian in February 2026. Rapid capital investment in local manufacturing hubs and supply chain localization continues to lower per-megawatt production costs, allowing turbine OEMs to capture substantial margin through end-to-end equipment supply and long-term maintenance contracts.

Electrical infrastructure, comprising subsea cables, offshore substations, and converter stations, is projected to grow at the fastest CAGR during the forecast period as projects move into deeper, more distant waters and require higher-capacity transmission assets, exemplified by the 2,000 MW/500 kV ultra-high-voltage converter station dispatched to Guangdong in May 2026. This structural shift toward far-shore sites necessitates large-scale upgrades to High-Voltage Direct Current (HVDC) transmission architectures, creating multi-billion-dollar opportunities for subsea cabling vendors and grid solution providers.

Component categories include

• Turbine (Dominating Segment)
• Electrical Infrastructure (Fastest-growing Segment)
• Foundation & Substructure
• Others

Analysis by Foundation Type

Fixed-bottom foundations held the largest market share in 2025, supported by the concentration of existing and near-term Chinese offshore wind capacity in the shallow-to-transitional waters of Jiangsu, Guangdong, and Shandong, where monopile and jacket foundations remain the most cost-effective solution. Mature local supply chains and established installation vessel fleets enable developers to execute fast-track construction schedules at highly competitive balance-of-plant expenditure levels.

Floating foundations are projected to record the fastest CAGR through 2034, driven by deep-water pipeline projects off Guangdong and Hainan and by the successful installation of a world-record-scale floating turbine off Guangdong in May 2026, which followed earlier floating platform milestones including the 2024 OceanX dual-rotor deployment. As near-shore seabed availability tightens, state-owned energy developers are committing substantial capital toward semi-submersible and tension-leg platform pilot programs to unlock China's vast deep-water wind resources.

Foundation Type categories include

• Fixed-Bottom (Dominating Segment)
• Floating (Fastest-growing Segment)

Analysis by Water Depth

Shallow water sites held the largest market share in 2025, consistent with the historical concentration of Chinese offshore wind capacity in near-shore waters off Jiangsu and Guangdong, where installation and grid-connection costs remain lowest. Favorable bathymetry and proximity to coastal demand centers have enabled project developers to achieve rapid grid synchronization while minimizing initial capital deployment risks.

Deep water sites are projected to grow at the fastest CAGR during the forecast period, led by projects such as China Huaneng's Shandong Peninsula North farm, commissioned in April 2026 and described as the country's deepest-water offshore wind project to date, and CTG's 20 MW Fujian turbine sited in waters deeper than 40 metres. Provincial spatial planning policies increasingly restrict near-shore development to protect shipping lanes and marine ecosystems, pushing provincial lease auctions into far-shore locations with stronger, more consistent wind resource profiles.

Water Depth categories include

• Shallow Water (Dominating Segment)
• Deep Water (Fastest-growing Segment)
• Transitional Water

Analysis by Turbine Capacity

The 8-14 MW capacity class held the largest market share in 2025, representing the current commercial workhorse range for the majority of operating Chinese offshore wind farms as manufacturers scaled up from single-digit-megawatt designs earlier in the decade. These standardized platforms benefit from established serial production workflows, proven field reliability data, and widespread compatibility with existing installation vessels.

Turbines above 14 MW are projected to grow at the fastest CAGR through 2034, as CTG-Goldwind's 20 MW unit, Mingyang's own 20 MW onshore-tested prototype, and Dongfang Electric's 18-26 MW designs move from demonstration toward commercial-scale deployment. Deploying ultra-large nameplate capacity drastically reduces the total number of foundation positions, array cables, and offshore lifts required per gigawatt, fundamentally improving overall project levelized cost of energy (LCOE).

Turbine Capacity categories include

• 8-14 MW (Dominating Segment)
• Above 14 MW (Fastest-growing Segment)
• Below 8

By Region

North America

xx%

South America

xx%

Europe

xx%

Middle East Africa

xx%

Asia Pacific

xx%

Guangdong held the largest market share in 2025, supported by roughly 30 GW of offshore wind projects announced, under construction, or in the pipeline, the province's dedicated offshore wind subsidy scheme, and its position as the site of China's most advanced floating-foundation activity, including the world-record-scale floating turbine installed off the province in May 2026. Guangdong's provincial government has set longer-term targets of 30 GW by 2035 and 65 GW by 2050, reinforcing its position as the market's anchor region through the forecast period.

Fujian is projected to grow at the fastest CAGR during the forecast period, driven by its role as the proving ground for China's largest offshore turbines. The province hosted the 2023 commissioning of the world's then-largest 16 MW turbines at the Pingtan wind farm and, in February 2026, the world's first 20 MW turbine connected to the grid at China Three Gorges Corporation's Zhangpu-Liuao Phase 2 project, positioning Fujian at the center of China's deep-water and ultra-large-turbine development pipeline.

Regions Covered

• Guangdong
• Jiangsu
• Fujian
• Shandong
• Rest of China 

Market Share

The China offshore wind market is consolidated, with a small group of domestic turbine manufacturers, led by Goldwind, Envision, Mingyang, and Dongfang Electric, competing intensely on single-unit capacity while state-owned developers, including China Three Gorges Corporation, China Huaneng, China General Nuclear, and State Power Investment Corporation, control the majority of project ownership and capital deployment. Key success factors include the ability to commercialize larger-capacity turbines, secure provincial subsidy allocations, and deliver at the technically demanding deep-water and floating-foundation sites that are increasingly central to new project pipelines. Innovation focus areas include ultra-large-capacity turbine design, lightweight and digitally integrated blade technology, floating foundations, and high-voltage direct-current transmission infrastructure for distant offshore sites. International participation is narrowing following the UK's March 2026 decision to exclude Mingyang turbines from its offshore wind projects on national-security grounds, a development that Chinese manufacturers and developers are watching closely as they weigh continued export ambitions against a primarily domestic demand base.

Key Players

• Goldwind (Xinjiang Goldwind Science & Technology Co., Ltd.) (China)
• Envision Energy (China)
• Mingyang Smart Energy Group Co., Ltd. (China)
• Windey Co., Ltd. (Zhejiang Windey) (China)
• Shanghai Electric Wind Power Group (China)
• Dongfang Electric Corporation (China)
• CRRC Wind Power Co., Ltd. (China)
• SANY Renewable Energy Co., Ltd. (China)
• China Three Gorges Renewables (Group) Co., Ltd. (China)
• China Huaneng Group Co., Ltd. (China)
• China General Nuclear Power (CGN) New Energy Holdings Co., Ltd. (China)
• State Power Investment Corporation (SPIC) (China)
• Siemens Gamesa Renewable Energy (Spain)
• Vestas Wind Systems A/S (Denmark)
• State Grid Corporation of China (China)

Recent Market Developments

• In October 2025, China signed the Beijing Declaration 2.0 on October 20, 2025, committing to annual installed wind power capacity of no less than 120 GW, including no less than 15 GW of offshore wind capacity per year through the rest of the decade, updating the original Beijing Declaration to reflect an accelerated national growth trajectory.
• In March 2026, The UK government announced that turbines supplied by Mingyang Smart Energy cannot be used in UK offshore wind projects, citing national-security grounds and effectively blocking Mingyang's proposed GBP $2.02 billion manufacturing facility at Ardersier Port in Scotland.
• In May 2026, A world-record-scale floating offshore wind turbine was installed off the coast of Guangdong Province, extending China's floating-foundation capability into deep-water sites beyond the reach of fixed-bottom foundations.
• In May 2026, The "Hai Feng Zhi Xin" offshore converter station, described as the world's largest at 2,000 MW/500 kV ultra-high-voltage direct current capacity, departed for installation off Guangdong, providing bulk power-transmission infrastructure for increasingly remote and high-capacity offshore wind farms.

Frequently Asked Questions

Key Questions Answered

Request a Sample

1

What is offshore wind power?

2

What is the CAGR of the China Offshore Wind Market?

3

Which component leads the China Offshore Wind Market?

4

Which turbine capacity class dominates the China Offshore Wind Market?

5

Which water depth category has the highest market share?

6

What are the latest trends in the China Offshore Wind Market?

7

Who are the leading turbine manufacturers and developers in the market?

Why Choose IG Transformation

Speak to Analyst

Strong Industry Focus

Extensive Product Offerings

Customer Research Services

Robust Research Methodology

Comprehensive Reports

Latest Technological Developments

Value Chain Analysis

Potential Market Opportunities

Growth Dynamics

Quality Assurance

Post-sales Support

Regular Report Updates