The global offshore wind sector added 8 gigawatts (GW) of new capacity in 2024, bringing total installed capacity to 83GW, according to the Global Wind Energy Council’s (GWEC) latest annual report published on Wednesday.
The report highlights a record-breaking year for auctions, with 56GW of new capacity awarded, while 48GW of offshore wind projects are currently under construction—another record for the sector.
“With 83GW installed, offshore wind is already keeping the lights on for 73 million households, providing hundreds of thousands of jobs and boosting economic growth,” said GWEC Deputy CEO Rebecca Williams.
The council described the current momentum as evidence of the sector’s long-term strength, though it also noted short-term headwinds. GWEC revised its near-term forecast downward by 24%, citing challenges including failed auctions in the UK and Denmark, policy uncertainty in the United States, grid connection delays in Europe, and slower-than-expected project delivery in the Asia-Pacific region.
Despite these issues, the report forecasts that annual offshore wind installations will increase to 34GW by 2030 and accelerate further to 55GW annually by 2034. Total global capacity is expected to reach 441GW by that year.
“The path forward is clear and achievable – smarter auctions, better policies, and faster delivery,” Williams said.
In 2024, China led global offshore wind installations for the seventh consecutive year, followed by the UK, Taiwan, Germany, and France. These five markets accounted for 94% of new capacity additions. Denmark dropped out of the top five for the first time.
Cumulative global floating wind capacity reached 278 megawatts (MW), led by projects in Norway and the UK. Offshore wind now makes up 7.3% of the world’s total wind capacity.
Industry leaders stressed the importance of international collaboration and supportive regulation. “Offshore wind plays a vital role in the global energy transition… unlocking its full potential requires supportive regulation to de-risk investments and ensure reliable project delivery,” said Hugh Elliott of Iberdrola.
Zhang Qiying, president of Mingyang Smart Energy, also emphasized the need for global supply chain cooperation to scale deployment in the coming years.
