Global offshore wind power market - Statistics & Facts

Wind energy is characterized by its use of air flow for production of mechanical power or electricity - making it a non-polluting renewable resource. A wind farm consists of several wind turbines, generally grouped together into a single wind power plant. The wind power industry is comprised of two segments: onshore and offshore wind farms. Offshore wind, wind farms located in bodies of water, is considered to be steadier and stronger in comparison to onshore wind, located in-land. However, its construction and maintenance costs are considerably higher than the latter. The installed costs of offshore wind energy amounted to 2,858 U.S. dollars per kilowatt in 2021. The overnight costs of offshore wind plants were the highest in Japan and South Korea, amounting to 4,039 and 3,520 U.S. dollars per kilowatt, respectively.

Offshore wind worldwide

On the global market, offshore wind energy capacity stood at 3.1 gigawatts in 2010 and has increased to about 55.7 gigawatts in 2021. According to recent statistics, the offshore wind farm industry was led by China and the United Kingdom, based on the market share. Offshore wind farms are installed in shallow waters around the world, mostly in Europe and Asia. Denmark is home to one of the first offshore wind parks located off of the Danish coast, installed in the early 90s and one of the world's largest wind energy companies, Vestas, which generated 13.6 billion U.S. dollars in revenue in the global market in 2022.

Offshore wind outlook

In 2021, a total of 21.11 gigawatts of offshore wind capacity were added worldwide. Global offshore annual capacity additions are projected to range from 9.1 to 54.9 gigawatts from 2022 to 2023, with Europe and China leading the market. Offshore wind will account for a substantial portion of the world’s energy needs. A decrease in the global levelized cost of electricity (LCOE) of offshore wind over the last decade as well as technological improvements like larger turbines and longer blades will help to fuel the growth of global offshore wind.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Lucía Fernández, Mar 16, 2023

Key insights

Offshore wind energy capacity worldwide
63,200 MW
Newly installed offshore wind capacity worldwide
8,771 MW
Share of global offshore wind farms in China
48.9%
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Offshore wind energy capacity worldwide from 2009 to 2022 (in megawatts)

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Capacity of offshore wind turbines in operation and under construction in 2022, by country (in megawatts)

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Newly installed offshore wind power capacity worldwide in 2022, by region (in megawatts)

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