16 MW ultra-large capacity offshore wind turbines are connected to the grid in Fujian province on June 28, 2023. (PHOTO: VCG)

Edited by QI Liming

The Asia-Pacific region led by China has overtaken Europe as the world's largest offshore wind market, according to the Global Offshore Wind Report 2023 released on August 28.

Published by the Brussels-headquartered Global Wind Energy Council (GWEC), the report attributes Europe's fall to rising costs and supply chain disruptions.

Europe accounted for about 47 percent of the total global offshore wind capacity of 64.3 GW in 2022, while the Asia-Pacific region surpassed it with almost 53 percent. China alone made up almost 49 percent of the global total. The shift in dominance began since 2021, when Europe accounted for 50 percent of the total 55.9 GW of cumulative installations.

According to the GWEC's analysis, by the mid-2020s there may be supply chain bottlenecks in every region except China. Immediate investment and global cooperation are needed to address these bottlenecks. Restrictive trade and investment policies – and calls to decouple from China's supply chain – may delay the global energy transition.

Global Offshore Wind Report 2023, https://gwec.net/, 28-08-2023