Global Offshore Wind Hits 83 GW While America’s 52 GW Pipeline Stalls

The world’s offshore wind industry reached 83 GW of fully operational capacity at the end of 2024. That’s up approximately 8% from the prior year. The industry added 8 GW of new capacity in 2024, making it the fourth biggest year on record.

Offshore wind hit 83 GW at the end of 2024 — its fourth biggest year of new capacity on record.

The 100 GW mark is now within reach. Experts project global offshore wind could cross that threshold in 2026, with total installed capacity expected to hit roughly 103.4 GW by year-end. That’s potentially enough to power over 100 million homes every year.

Investment is flowing in. By the end of 2025, an estimated £39 billion in final investment decisions had been committed globally. The offshore wind market was valued at roughly USD 76.9 billion in 2025, and is expected to grow from approximately USD 109 billion in 2026 to USD 307.5 billion by 2035, a compound annual growth rate of reportedly 12.2%.

Looking further ahead, forecasts project around 230–250 GW of operational capacity worldwide by 2030. That’s more than 2.5 times today’s global capacity. The global development pipeline reportedly includes 1,565 projects across 49 markets, totaling 1,157 GW. Asia Pacific is the largest market, while Europe’s the fastest growing. The UK and China together account for the majority of the world’s installed offshore wind capacity to date.

Floating offshore wind is also on the rise. Roughly 4.1 GW of floating capacity is forecast to be installed or underway by 2030, with an estimated 0.7 GW fully operational by then. By 2040, floating capacity could reach dozens of GW as costs fall with standardization. The UK, France, and South Korea are ranked as the most attractive markets for floating wind. Offshore wind farms also deliver unexpected environmental benefits, as artificial reefs form beneath turbine foundations and support thriving marine ecosystems.

However, not everything’s trending upward. Forecasts outside China have been revised down, with GWEC’s short-term outlook cut by 24% year-on-year. Europe and Asia-Pacific forecasts have been reduced significantly. Long-term construction forecasts excluding China were reduced by around 22%, from 435 GW to 341 GW. By 2030, 671 offshore wind projects are expected to be fully operational worldwide, potentially outstripping many nuclear power stations worldwide. These adjustments reflect ongoing challenges slowing development in several key markets.

✅ Claims in this article were verified using AI-assisted fact-checking.