Offshore Wind Market Forecasts See Recalibration Amid Energy Security Focus
What happened
A quarterly Global Market Overview report from wind market intelligence house TGS | 4C was released on June 1, 2026. The report found that offshore wind market indicators were subdued during the second quarter of 2026, though renewed focus on energy security is helping the industry recover. The global forecast for installed offshore wind capacity in 2030 has been reduced by 11% year on year, moving from 133 GW to 119 GW outside of China. Forecasts for 2030 have also been lowered by 2 GW since the previous quarter.
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Why it matters
The outlook reflects short-term delivery challenges, such as the fact that no auctions were awarded in Q2 2026. Despite the lowered 2030 forecasts, the report noted that 2040 expectations remain up, showing a potential large buildout through the next decade. This is driven by countries including the United Kingdom, France, and Germany accelerating renewable energy ambitions to reduce reliance on imported energy.
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Who's involved
- EuropeContinent whose key countries are noted for accelerating renewable energy ambitions.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- EuropeSpeculative
The continent could see its energy sector influenced by the shift in global offshore wind market targets.
How it developed
Newest first. Tap a step to see who reported it.- Envision Energy launched a next-generation offshore wind turbine model tailored specifically for European offshore markets.Sub-event
- Ørsted operates large offshore wind farms in Germany and contributes to European offshore wind goals.Sub-event
- Building on successful international energy models, the new event details how Norway and China are achieving majority market share in offshore wind through the integration of renewable energy into oil operations.Sub-event
Europe is accelerating renewable energy ambitions and setting global offshore wind market capacity targets.1 source
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The entities involved
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China
cultural region, ancient civilization, and nation in East Asia; mostly refers to the People's Republic of China in political situation and rarely refers to the Republic of China