Europe has lost its position as the world’s largest offshore wind market to the Asia-Pacific region led by China, as a result of rising costs and supply chain disruptions, the global industry group has found.
Europe accounted for about 47 per cent of the 64.3GW of total global offshore wind capacity in 2022, while the Asia-Pacific region surpassed it with almost 53 per cent, according to data from the Global Wind Energy Council.
China alone made up almost 49 per cent of the global total. The shift in dominance comes since 2021, when Europe accounted for 50 per cent of the total 55.9GW of cumulative installations, GWEC said in its latest report on the state of the global offshore wind market.
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