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 free, non-polluting renewable resource. A wind farm consists of several hundred 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 minimum costs of offshore wind energy amounted to 4,353 U.S. dollars per kilowatt in 2018. The overnight costs of offshore wind plants were the highest in Germany and France amounting to 5,900 and 5,400 U.S. dollars per kilowatt, respectively.

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.

Interesting statistics

In the following 5 chapters, you will quickly find the 21 most important statistics relating to "Offshore Wind Energy".

Offshore wind power globally

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Important key figures

The most important key figures provide you with a compact summary of the topic of "Offshore Wind Energy" and take you straight to the corresponding statistics.

Offshore wind in Europe

Offshore wind in development

Onshore wind market

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