Power Grid

In 2023, global wind capacity surged to a new peak of nearly 117 GW, a testament to growing government support and ambition despite challenging economic conditions marked by high interest rates and inflation. The Energy Research Unit's recent report reveals a remarkable 50% increase in global wind capacity additions, reaching 116.6 GW in 2023 compared to 77.6 GW in 2022. This expansion was a worldwide phenomenon, with contributions from 54 countries spanning all continents. Notably, China led the pack, accounting for 65% of the new installations.

The total cumulative installed wind capacity worldwide reached 1,021 GW by the end of 2023, reflecting a 13% increase from the previous year. To meet carbon neutrality goals and limit global warming to 1.5°C, the wind industry must significantly accelerate its growth, aiming for at least 320 GW of annual growth by 2030. The onshore wind market achieved a major milestone, surpassing 100 GW of new installations for the first time, reaching 105.8 GW in 2023 compared to 68.8 GW in 2022. Cumulatively, onshore wind capacity reached 945 GW by the end of 2023, up 12% year-on-year.

Offshore wind capacity also saw substantial growth, reaching about 10.8 GW in 2023 compared to 8.8 GW in 2022, the second-highest level on record. Cumulative offshore wind capacity reached 75.2 GW. The Asia-Pacific region maintained its position as the largest wind energy market, accounting for 71% of the global market share, with an installation of around 83 GW in 2023. Europe followed as the second-largest market, installing 18.3 GW of new wind capacity, including a record high of 16.2 GW in the European Union.

Despite remaining in third place, North America's market share decreased by 5% to 7% of the global total, primarily due to a decline in onshore wind installations in the United States, which fell to the lowest level since 2014. Latin America ranked fourth, with a 5% global market share in 2023, driven by record installations in Brazil. Africa, the Middle East, and the East rounded out the rankings with a 1% market share. China, the United States, Brazil, Germany, and India were the top five countries in terms of added wind capacity in 2023, with China alone accounting for 75 GW of the total global wind additions installed last year.