Currently the UK is the world leader in terms of offshore capacity with over 1GW installed and 33GW planned as part of its Round 3 expansion.
According to Pike’s Offshore Wind Power report, China will draw level with the UK and Germany by the end of the decade.
China is currently the only country outside Europe to have built an offshore wind farm with its Shanghai East Sea Bridge project.
The US will continue to trail behind.
The report predicted the global offshore market would reach between $104-130.5 billion by 2017.
It said key factors shaping offshore wind markets over the coming years include a move toward larger wind turbines, new innovations for less expensive operations and maintenance, a focus on high-voltage direct current (HVDC) transmission lines, and the need to secure new sources of financing.