“After needing more than 40 years to reach one TW of installations, the wind industry will reach the next TW of installations within the next eight years, a significant acceleration of growth”, says Luke Lewandowski, Research Director at Wood Mackenzie. This will also include the global offshore wind sector, which the analyst firm expects to grow sevenfold by 2032 and account for a 26 per cent share of total capacity over the next decade.

According to the latest market outlook from Wood Mackenzie, the next ten years will see an intensified focus on offshore wind as the sector matures and technology innovation and supply chain development help make offshore development more accessible in different regions.