Offshore wind is set for truly global growth after 2023 saw the second-highest annual installations as well as key policy developments that set the foundations for accelerated expansion of the industry over the next decade.
In 2023, despite the macroeconomic challenges faced by the sector in some key markets, the wind industry installed 10.8 GW of new offshore wind capacity, taking the global total to 75.2 GW. New capacity increased 24% on the previous year, a growth rate the Global Wind Energy Council (GWEC) expects to see continue up to 2030, if the present increase in policy momentum continues.
In the next ten years, GWEC forecasts that 410 GW of new offshore wind capacity will be installed, bringing offshore wind deployment in line with global targets to install 380 GW by 2030. The majority of that will come at the turn of the decade, with two-thirds installed between 2029 and 2033. This anticipated growth will be driven by the arrival of the next wave of offshore wind markets like Australia, Japan, South Korea, the Philippines, Vietnam, Brazil, Colombia, Ireland, and Poland.
