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, 2026-2034” 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 was valued at USD 482.91 Million in 2025 and is forecasted to reach USD 2,103.0 Million by 2034, with a CAGR of 17.76% during 2026-2034. Growth is driven by Mexico's renewable commitments, abundant coastal wind resources, and cost reductions in technology. Expanding private investments and government targets accelerate offshore wind developments along the Gulf of Mexico and Pacific coastlines.

Study Assumption Years

●     Base Year: 2025

●     Historical Year/Period: 2020-2025

●     Forecast Year/Period: 2026-2034

Mexico Offshore Wind Power Market Key Takeaways

●     The market size was USD 482.91 Million in 2025 with an expected CAGR of 17.76% from 2026 to 2034.

●     Fixed structure installations dominate with an 85% share in 2025, favored for shallow waters and cost efficiency.

●     Water depth up to 30m leads with a 62% share due to simpler foundation installation and favorable seabed conditions.

●     Capacity segment above 5MW holds 70% market share, reflecting the efficiency of larger turbines.

●     The market benefits from extensive wind resources permitting an estimated 487.3 GW of viable offshore capacity.

●     Growing private sector interest and international cooperation support financing and technical expertise.

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Mexico Offshore Wind Power Market Growth Factors

The Mexico offshore wind power market expansion is primarily propelled by government mandates for renewable energy. The Energy Transition Law requires 35% of electricity generation from clean sources by 2024, pushing utilities and developers towards offshore wind as a reliable solution. Long-term policy clarity reduces market risk, spurring feasibility assessments and investor confidence.

Abundant maritime wind resources along Mexico's extensive Pacific and Gulf coastlines provide ideal conditions for offshore wind farms. These offshore locations offer stronger and more consistent wind speeds than onshore sites, enabling higher capacity factors and revenue potential. The availability of vast maritime areas minimizes land-use conflicts and facilitates large-scale project feasibility.

Rising electricity demand fueled by rapid urbanization and industrial growth further drives offshore wind development. Mexico’s urban population reached over 105 million in 2023, increasing power needs for manufacturing, commercial, and residential sectors. Offshore wind provides stable, large-scale power to meet these demands, supporting grid resilience and sustainability goals.

Mexico Offshore Wind Power Market Segmentation

Breakup by Installation:

●     Fixed Structure: Dominates due to technological maturity, economic advantages in shallow waters, and extensive supply chains. Foundations include monopiles, jackets, and gravity-based types.

●     Floating Structure: Not leading; details on market share not provided explicitly.

Breakup by Water Depth:

●     Up to 30m: Leads with 62% share; simpler monopile and gravity-based foundations reduce costs and installation complexity, with easier grid connections.

●     Above 30m: Lesser share; higher installation and maintenance complexity.

Breakup by Capacity:

●     Up to 3MW: Smaller turbines, less prevalent.

●     3MW to 5MW: Mid-sized turbines.

●     Above 5MW: Dominates with 70% share; enhanced efficiency and lower levelized cost of energy, supporting large-scale projects.

Breakup by Region:

●     Northern Mexico: Emerging key region with strong wind resources, industrial hubs, and US proximity supporting cross-border collaboration.

●     Central Mexico: Urban growth and financial hubs promote renewable investments and infrastructure upgrades.

●     Southern Mexico: Strong potential from favorable coastlines and wind patterns; local government incentives foster development.

●     Others

Regional Insights

Northern Mexico is emerging as a prominent offshore wind development area due to its robust coastal wind resources and proximity to industrial zones and the United States. The region benefits from infrastructural support including ports and logistics, enhancing equipment movement and project implementation. This positioning fosters cross-border collaboration and bolsters market growth.

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Recent Developments & News

In March 2024, Sempra Infrastructure announced a positive final investment decision for the Cimarron wind project, contributing 320 MW as the third phase of the Energía Sierra Juarez complex in Baja California, Mexico. The project has a 20-year power purchase agreement and involves an approximately USD 550 Million investment, underscoring growing commitments to offshore wind as a climate-friendly energy source.

Key Players

Competitive Landscape

The Mexico offshore wind power market competitive landscape is characterized by emerging positioning among international energy developers, turbine manufacturers, and infrastructure companies anticipating market growth. The sector exhibits early-stage dynamics with limited operational capacity but growing developer interest as regulatory frameworks mature and feasibility assessments demonstrate project viability. International offshore wind specialists bring global deployment experience while domestic energy companies contribute local market knowledge and grid integration expertise. Competition centers on securing favorable development positions, establishing relationships with government entities, and building supply chain capabilities to support future construction phases. Strategic partnerships between foreign developers and Mexican partners are anticipated to intensify as project opportunities advance toward procurement stages. The competitive environment will likely consolidate around developers demonstrating strong execution capabilities and financial strength to manage extended development timelines.

Customization Note

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