On the global market, offshore wind energy capacity reached over 3 gigawatts in 2010 and has increased to about 23.4 gigawatts in 2018. 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. Denmark installed its first offshore wind park off of their coast in the early 90s and one of the world's largest wind energy companies, Vestas, generated 11.9 billion U.S. dollars in revenue in the global market in 2017.
One of the largest wind turbine manufacturers is the Chinese company, China Shenhua Energy Company, followed by Vestas and GE Renewable Energy. Wind turbines manufactured by Vestas are distributed across the world as well as in the Asia Pacific region, where it generated 1.38 billion euros in revenue in 2018.
Offshore wind turbines are not yet entirely competitive with fossil fuels, but worldwide offshore wind power capacity is projected to grow from 12 gigawatts in 2015 up to 36 gigawatts by 2021. This figure would account for a substantial portion of the world’s energy needs.