KRISTIANSAND, NORWAY – Independent research by BVG Associates forecasts the potential global market size for foundations in 60 to 120 meters water depths at a 5.35 GW operational capacity by 2030, with an additional 23.79 GW by 2035.
The research was commissioned by Entrion Wind, developer of the patented Fully Restrained Platform (FRP) monopile technology that it plans to roll out commercially in 2027.
This market assessment represents the total global capacity across multiple regions, based on a conservative estimate of awarded projects and publicly available pipeline data. The assessment analyzed over 1,600 global offshore wind projects, evaluating their capacity, water depth ranges, and development stages.
If the FRP monopile captures 20% of the serviceable market, that equates to approximately 1.07 GW by 2030 and 4.76 GW by 2035.
“There is a significant pipeline of offshore wind projects being developed in sites deeper than 60 m which is a significant market for Entrion Wind to address.” said Mike Blanch Operations Director at BVG Associates.
“This study confirms a significant market potential for the FRP technology in deeper waters”, said Tomas Fertig, VP Business Development. “The FRP monopile compares favorably against alternative bottom fixed and floating technologies and is well-suited to meet the growing demand for cost-effective foundations in deeper waters.”
For more information and to access the full market assessment report, including detailed regional and country-specific forecasts, please contact Entrion Wind or visit https://www.entrionwind.com/partners/market-size-assessment.
About Entrion Wind: Entrion Wind is pioneering the future of offshore wind energy through innovative technology. The company has introduced the Fully Restrained Platform (FRP) Monopile, a foundation capable of extending the range and favorable economics of traditional monopile technology to water depths from 60 up to 100 meters.
About BVG Associates: BVG Associates provides strategy consulting in the wind industry globally, combining deep wind industry expertise with business consulting methodologies. Formed in 2006, BVG has played a key role in the global expansion of offshore wind, helping clients succeed in a renewable energy future. BVG is known for its numerous landmark reports on the industry’s future, cost of energy, and supply chain dynamics.
Comments