GWEC's Global Offshore Wind Report 2020

Key Points

2019 was a record year for offshore wind. With 6.1 GW of new capacity added, 2019 was the best year in history for the global offshore wind industry, bringing total global cumulative installations to 29.1 GW. China remains in the number one spot for the second year in a row for new installations, installing a record 2.4 GW, followed by the UK at 1.8 GW and Germany at 1.1 GW.

Offshore wind will continue to grow despite the impacts of COVID-19 and will be key for Green Recovery. Offshore wind is being seen as a major contributor to post-COVID economic recovery by governments around the world. Offshore wind has been less impacted by the pandemic compared to other energy sectors, GWEC Market Intelligence expects that thanks to continued growth 900,000 jobs will be created in the industry over the next decade, demonstrating its viability to be a key driver for a global green recovery.
Offshore wind will surge to over 234 GW by 2030, led by Asia-Pacific. GWEC Market Intelligence forecasts that through 2030, more than 205 GW of new offshore wind capacity will be added globally, including at least 6.2 GW of floating offshore wind. This represents a 15 GW increase from the forecasts in GWEC Market Intelligence’s pre-COVID forecast, demonstrating the resilience of the sector to play a major role in powering both the energy transition and a green recovery.
Technology innovation will be key to driving growth. Floating offshore wind will reach full commercialisation by 2030 with at least 6 GW installed globally. Turbine technology is also set to improve in both efficiency and resilience, resulting in LCOE reductions and increased adoption. Other innovations such as Power-to-X will also play a key role in opening new market opportunities for offshore wind and decarbonising our energy systems.