Wood Mackenzie forecasts that global wind power installations will reach 170 GW in 2025, setting a new record high. However, new installations are expected to decline by 6% in 2026.
Image source: Wood Mackenzie
According to Wood Mackenzie's latest report, global wind power installations will maintain a substantial volume in 2026 but decline by 6% year-on-year compared to 2025, falling to 160GW. This fluctuation is primarily driven by the conclusion of China's 14th Five-Year Plan, which has led to a drop in domestic installations. In contrast, wind power installations in other global regions are projected to achieve robust growth.
Regionally, Europe will account for a significant share of global new installations in 2026. Germany is projected to achieve substantial growth, benefiting from capacity expansions approved in 2024 and the rollout of large-scale onshore wind projects. Meanwhile, the United States will emerge as the largest single market outside China, driven by a rush to install capacity before the expiration of production tax credits.
At the project level, according to Wood Mackenzie data as of November 2025, 84% of the projected new wind power capacity outside China in 2026 stems from projects that have completed final investment decisions or are under construction. While uncertainty remains for the remaining projects, over half are small-scale projects under 100 megawatts. Their short construction cycles make grid connection within the year feasible.
Offshore wind power will become the core engine driving global wind power growth in 2026, with new installed capacity expected to double year-on-year. Due to the lengthy project construction cycles, 75% of the planned new capacity for 2026 has already entered the construction phase, ensuring strong certainty in capacity release.
Focusing on the Chinese market, the growth of offshore wind power project reserves remains sluggish due to the impact of the market-based pricing policy outlined in Document No. 136. However, the existing portfolio of approved projects is sufficient to support construction over the next three years and will not hinder project advancement in 2026.
The key focus for the industry in 2026 will be whether China introduces supportive policies for deep-sea project development. The absence of such policies could impact technological R&D, production capacity planning, and export supply chain strategies within the sector.
