Global offshore wind capacity is on course to quadruple to 420 GW by 2035, according to the Global Wind Energy Council (GWEC) 2026 Global Offshore Wind Report. In 2025, more than 9 GW of new offshore wind capacity was grid-connected worldwide, enough to power over 10 million homes. This made 2025 the third-highest year for new installations and raised the cumulative total installed worldwide to 92.5 GW, equivalent to powering over 100 million homes.
Record Growth Forecast
GWEC’s report projects that annual installations will double in 2026, triple by 2031, and surpass 50 GW per year by 2035. The compound average annual growth rate is predicted to reach 24% between 2026 and 2030, making offshore wind one of the world’s fastest-growing mainstream energy technologies. More than 327 GW of new offshore wind capacity is forecast to be added in the next decade, taking global capacity to 420 GW by the end of 2035.
Rebecca Williams, deputy CEO of GWEC, stated: “We expect to see exceptional growth over the next decade, leading to a quadrupling of the world’s offshore wind capacity. Built at scale, offshore wind is a unique strategic asset and one of the best available utility-scale renewable power sources for a clean and secure power system offering high, predictable electricity generation.”
2025 Installation Leaders
China led annual installations for the eighth consecutive year, commissioning 6.6 GW in 2025. Europe commissioned nearly 2 GW, comprising:
| Country | Capacity (GW) |
|---|---|
| UK | 1.0 |
| Germany | 0.5 |
| France | 0.4 |
China now accounts for 52% of the global offshore wind market.
Challenges and Action Plan
Despite progress, offshore wind deployment is not progressing as quickly as it should. The amount of offshore wind procured in auctions during 2025 was 11.4 GW, just one-fifth of the record set in 2024. Around 25 GW of projects worldwide outside China are still awaiting a financial investment decision.
GWEC’s eight-point action plan calls on governments to:
- Fast-track offshore wind as critical energy infrastructure.
- Strengthen government-industry partnerships.
- Counter misinformation.
- Deliver auction frameworks.
- Speed up permitting.
- Increase financing.
- Scale supply chains.
- Pursue industrial electrification.
Williams added: “In less than five years, we have faced two major crises caused by continued reliance on imported fuels. It’s now abundantly clear that we’re in a race to electrify our economies and deploy as much reliable, homegrown renewable energy as possible before the next crisis erupts. Building an arc of offshore wind turbines along a country’s coast is a way to guard against future supply shocks.”
Implications for Commodity Markets
The rapid expansion of offshore wind capacity will drive significant demand for commodities such as steel, copper, and rare earth materials used in turbines and cables. Supply chain scaling and investment decisions highlighted in the report are critical for metals and raw material markets, as each GW of offshore wind requires thousands of tonnes of steel and copper. Analysts tracking energy transition metals should note the 24% CAGR implied by the report, which translates into sustained demand growth for key inputs through 2035.
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