The next ten years will see massive growth in the global offshore wind energy market.

This is according to a new report from the Global Wind Energy Council, GWEC, published in connection with the APAC Offshore Wind and Green Hydrogen Summit 2023, which takes place Tuesday through Thursday in Melbourne, Australia.

The report estimates that 380GW of offshore wind energy will be installed across 32 markets between 2023 and 2032. Almost half of that capacity is expected to be installed in the Asia-Pacific region, APAC, followed by Europe and North America with 41% and 9% respectively.

By comparison, at the end of 2022, there was 64.3GW of offshore wind capacity in operation globally, with 8.8GW installed in 2022 alone, according to the report.

While GWEC has raised its estimate for APAC, the industry association has lowered its short-term estimate for Europe and North America by 17% due to delays caused by permitting and other regulatory challenges, while supply chain bottlenecks remain, except in China.

However, GWEC sees strong growth in Europe and North America in the second half of the forecast period, 2028-2032. In Europe, 78% of the estimated capacity is expected to be installed on the other side of 2027.

(Translated using DeepL with additional editing by Simon Øst Vejbæk)