IMARC Group has recently released a new research study titled “Mexico Offshore Wind Power Market Size, Share, Trends and Forecast by Installation, Water Depth, Capacity, and Region, 2025-2033” which offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
Market Overview
The Mexico offshore wind power market size valued at USD 407.52 Million in 2024 is expected to grow to USD 2,225.01 Million by 2033, experiencing a CAGR of 18.50% during the forecast period 2025-2033. Growth is supported by rising energy demand, favorable wind conditions, government support, international investments, and advancements in turbine technology. Increased market share is driven by Mexico’s strategic coastal geography and regulatory reforms.
Study Assumption Years
Base Year: 2024
Historical Year/Period: 2019-2024
Forecast Year/Period: 2025-2033
Mexico Offshore Wind Power Market Key Takeaways
Current Market Size (2024): USD 407.52 Million
CAGR (2025-2033): 18.50%
Forecast Period: 2025-2033
Mexico’s extensive coastlines along the Pacific Ocean and Gulf of Mexico provide ideal conditions for offshore wind power development.
Southern coastlines show some of Latin America’s highest offshore wind potential.
Regulatory reforms, including Energy Transition Law updates and strengthened clean energy certificates, enhance foreign investment appeal.
Government initiatives to map high-potential offshore wind zones improve market scalability.
Investments from international developers and technology advancements drive market growth.
Sample Request Link: https://www.imarcgroup.com/mexico-offshore-wind-power-market/requestsample
Market Growth Factors
Several factors are driving the development of the offshore wind power market in Mexico. The country is geographically positioned with long coastlines on the Pacific Ocean and on the Gulf of Mexico where wind power generation conditions are considered most favorable for offshore wind power generation. The southern coastline has some of the highest offshore wind power potential in Latin America. The shallow waters and proximity to energy demand centers mean that offshore construction cost could be low. Its proximity to major urban and industrial centers also helps with its grid connections.
The proactive role of Mexico's government in changing regulations for clean energy projects has been another major driver of the renewable energy sector's growth. Revisions to the Energy Transition Law and CELs provide international investors confidence in Mexico's policy framework. SENER partnered with international agencies to create offshore wind guidelines and environmental approvals. The guidelines and approvals decrease project uncertainties. The guidelines and approvals make the approval process better. The guidelines and approvals increase transparency. Public-private partnerships are being explored as a way toward increased access to finance and investments in large-scale offshore wind projects.
Other drivers of growth include the financial investments by foreign developers and larger turbine technology, including Invenergy and Hecate Energy deploying offshore farms of size over 2 GW with turbines rated at sizes as large as 23 MW. The U.S. Bureau of Ocean Energy Management lease auction in the Gulf of Mexico also shows interest from competing bidders. These developments are expected to improve Mexico's global offshore wind market share, enabling the country to meet renewable energy generation targets of 92 TWh a year by 2030 through grid integration of 30 GW of wind power (1.7 GW annually, on average) in the same year.
Market Segmentation
Breakup by Installation Insights:
Fixed Structure: Includes offshore wind installations with a fixed foundation type, typically in shallower water depths.
Floating Structure: Covering offshore wind installations employing floating platforms suitable for deeper waters.
Breakup by Water Depth Insights:
Up to 30m: Offshore wind projects located in water depths up to 30 meters.
Above 30m: Offshore wind projects constructed in water depths exceeding 30 meters.
Breakup by Capacity Insights:
Up to 3MW: Wind turbines or projects with capacity ratings up to 3 megawatts.
3MW to 5MW: Installations featuring turbines or aggregated capacity within 3 to 5 megawatts.
Above 5MW: Projects with turbine or total capacity exceeding 5 megawatts.
Breakup by Regional Insights:
Northern Mexico: Includes offshore wind markets and projects situated in the northern coastal regions of Mexico.
Central Mexico: Covers the central coastal areas involved in offshore wind power development.
Southern Mexico: Represents the southern coastal areas, identified as having the highest offshore wind power potential.
Others: Comprises any additional geographic regions in Mexico not classified under the main three regions.
Regional Insights
Southern Mexico is the dominant region exhibiting high offshore wind potential, benefiting from strategic coastal geography with consistent high wind speeds. These southern coastal areas, among the highest in Latin America for offshore wind power, support market growth and future scalability. Specific market share or CAGR data per region is not provided in the source.
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Recent Developments & News
In December 2024, Windar Renovables' Altamira factory in Mexico delivered the first offshore wind tower manufactured in the Americas, supporting Siemens Gamesa’s 2.6 GW Coastal Virginia Offshore Wind project. This milestone established Windarmex as the continent’s sole offshore tower producer, creating 200 jobs and enhancing 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 totaling 582 MW. The order includes 64 turbines and a 10-year service contract, with commissioning expected in Q4 2025, strengthening Vestas' market presence in Mexico.
Key Players
Windar Renovables
Siemens Gamesa
Vestas
Invenergy
Hecate Energy
Sempra Infrastructure
Customization Note
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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