US Offshore Wind Shift May Cause 26GW Global Gap by 2035

The recent shift in the United States’ offshore wind policy could lead to a global shortfall of 26 gigawatts in offshore wind installations by 2035, according to TGS’ latest Quarterly Market Overview Report. 

The report highlights that the retreat of a major player like the U.S. has widespread consequences, compelling developers and supply chain stakeholders around the world to reassess their investment plans and strategies. 

Despite these disruptions, the outlook for floating offshore wind remains positive. TGS forecasts that global floating wind installations will grow from the current 0.5GW to 26.5GW by 2035, thanks to continued government backing and technological innovation—especially across Europe and the Asia-Pacific (APAC) region. 

TGS also noted that although floating wind is showing resilience, overall ambition among major developers appears to be declining. Rising costs, uncertain regulatory environments, and financial risks are contributing to this hesitancy and raising concerns about which players will lead the sector going forward. 

Interestingly, the report points to an emerging trend: a new generation of smaller, often more regionally based, developers is stepping up. By 2030, up to 70 developers are expected to begin construction on their first offshore wind projects—signaling a shift in momentum toward more localized initiatives. 

“We enter the second half of the 2020s at a turbulent time, with political uncertainty becoming ever more consequential,” said Patrick Owen, lead author of the report. “And we are seeing some market shifts. As major developers’ ambitions waver, smaller and newer players are taking on greater roles in meeting national targets.” 

The report underscores that while the path ahead may be uncertain, innovation and diversification within the offshore wind sector continue to create new opportunities—even amid geopolitical and economic challenges.