The global offshore wind market grew nearly 30% per year between 2010 and 2018, benefitting from rapid technology improvements and about 150 new offshore wind projects are in active development around the world. Europe in particular has fostered the technology’s development, led by the United Kingdom, Germany and Denmark, but China added more capacity than any other country in 2018.

Yet today's offshore wind market doesn't even come close to tapping the full potential – with high-quality resources available in most major markets, offshore wind has the potential to generate more than 420 000 TWh per year worldwide.

This is more than 18 times global electricity demand today.