New installations of 4.49 GW in 2018 drove the global offshore market, as it increased by 0.5%, and achieved a total installed capacity of 23 GW. China installed more offshore capacity than any other market (1.8 GW), followed by the United Kingdom (1.3 GW) and Germany (0.9 GW).

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As GWEC forecasts, if governments remain committed, and projects and investments continue, annual installations in Asia could report 5 GW or more each year. In the US, GWEC expects the developing offshore wind market to reach 1 GW by 2022-2023.

Moreover, the report foresees that new installations will reach 55 GW or more each year until 2023. Stable volume will derive from in Europe and the US, while an important growth will be driven by developing markets in South East Asia and the global offshore market.

Overall installed wind capacity reached 591 GW at the end of 2018, which is a growth of 9.6%, in comparison to the end of 2017. Regarding offshore wind, it grew by 20%, and reached 23 GW.

Ben Backwell, CEO of GWEC, stated:

2018 was a positive year for wind in all major markets, with China leading both onshore and offshore growth. We expect huge growth in Asia through the coming decade and beyond as part of the continuing shift from Europe to Asia as the driving region for wind development

As for Karin Ohlenforst, Director of Market Intelligence at GWEC, she mentioned that the offshore market, in particular, will grow on a global scale and will reach up to 7 to 8GW of new capacity during 2022 and 2023.