The global wind industry is entering a new phase of scale, with offshore wind installations set to rise 78% in 2026. However, the sector faces supply chain bottlenecks, high financing costs, and intense price competition, particularly from Chinese manufacturers who are expanding globally. Governments are balancing energy security and domestic manufacturing support with the benefits of cheap imports.
Summarized by Podsumo
Global offshore wind installations are projected to increase 78% year-on-year in 2026, driven by large-scale projects in the North Sea and China.
Chinese wind turbine manufacturers captured 34% of global orders in 2025, with a massive eightfold increase in overseas installations year-over-year, challenging Western dominance.
Onshore wind orders hit a five-year high in Q1 2026, led by Germany's permitting reforms and India's domestic manufacturing boom.
Offshore wind faces long-term uncertainty: Bloomberg NEF cut its 2022-2035 cumulative forecast by 40% due to cost inflation, high interest rates, and supply chain tightness for vessels and turbines.
Governments in Europe (e.g., Germany, Netherlands) are reintroducing subsidies for offshore wind to counter rising costs, while the US onshore market braces for a dip after July tax credit deadlines but expects long-term growth from rising electricity demand.
"We're seeing this massive step up in scale for the offshore wind sector... But despite that, when we think about the long-term outlook, things have been getting less rosy because of supply chain constraints and cost inflation."
— Oliver Metcalf, Head of Wind Research, Bloomberg NEF
"Chinese turbine makers are now exporting to markets where they can secure prices around double what they get at home, but in the most promising markets, pricing is again at rock-bottom levels."
— Oliver Metcalf
"The wind industry is entering a new era of scale, but the devil is really in the details when it comes to supply chains and where these breakdowns are."
— Dana Perkins, Host