Offshore wind investment has reached unprecedented heights, with $76.7 billion invested globally in 2023 alone—a 79% increase over the previous year. The momentum continued into 2025, with the first half of the year seeing $39 billion channelled into offshore wind projects worldwide, already exceeding the total investment for all of 2024. This surge highlights both the growing prioritisation of offshore wind in national and corporate energy strategies and the escalating scale of projects underway.
China dominates the market, accounting for nearly 50% of global offshore wind capacity, propelled by aggressive policy support and domestic manufacturing scale. The United Kingdom stands as the second-largest market with 15.9 GW operational and ambitious targets to reach 50 GW by 2030. However, despite this ambition, the UK faces challenges receiving fresh investment due to rising project costs and regulatory constraints, resulting in some project delays and cancelled development plans. Beyond China and the UK, Germany, the Netherlands, and Taiwan are notable contributors, collectively driving 94% of new installations in 2024.
The sustained growth in offshore wind highlights critical factors such as supply chain robustness, policy clarity, and investment frameworks that shape where capital flows. Markets offering predictable returns and cohesive infrastructure will continue to attract private and public investment, reinforcing offshore wind's role in a sustainable energy future.