5.11.6.1Vertical

Offshore Wind Turbine OEMs

Producers of fixed-bottom and floating offshore wind turbine systems.

Market snapshot

These figures describe Wind Turbine Manufacturing (5.11.6), the segment that Offshore Wind Turbine OEMs sits within. They are not figures for Offshore Wind Turbine OEMs on its own.

Market size
~$12B
Growth
~-1.1%CAGR (2017–22, nominal)
Companies
~169 firms
Firms by employee count

49.7% of firms have fewer than 20 employees: 84 micro-businesses, below most mandates.

The investable universe85 firms with 20+ employees
20–99
3845%
100–499
1518%
500+
3238%

The one clean-energy segment that shrank, which surprises people. The classification covers all turbine and generator-set manufacture (steam and gas as well as wind), so it measures the whole turbine industry, and conventional generation equipment fell faster than wind grew. Domestic wind manufacture is also a small share of installed capacity: most large components are imported, and assembly happens near the project rather than in a plant.

NAICS 333611. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

Business model & economics

Revenue model

Turbine and component sales plus service agreements

Key economics

Revenue per firm
$70,867,645
Revenue per employee
$392,561
Employees per firm
166.0
Recurring revenue
Moderate–High

long-term O&M service agreements

EBITDA margin
Pressured equipment; richer service
Capex intensity
High

Characteristics

  • Scale-driven: payroll is only 22% of revenue, so the cost base is assets, not headcount
  • Moderate strategic-buyer pool: 32 firms exceed 500 employees, so a scaled asset has buyers, but not many
  • Global oligopoly (GE Vernova, Vestas, Siemens Gamesa).
  • Profitability pressured by cost inflation and pricing.
  • Offshore wind an emerging U.S. growth frontier.

NAICS 333611. U.S. Census Bureau, 2022 Statistics of U.S. Businesses; U.S. Census Bureau, 2022 Economic Census.

M&A deal context

Deal activityModerate

Who’s acquiring

  • Wind-turbine majors
  • Component & blade manufacturers
  • Energy & infrastructure investors

What’s driving deals

  • Offshore-wind buildout and localization.
  • Component and service-agreement value.
  • Policy-supported long-term wind demand.

Find Offshore Wind Turbine OEMs acquisition targets

Search Acquisera’s index for companies classified under Offshore Wind Turbine OEMs (5.11.6.1) and build a targeted deal pipeline.

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