Wind Turbines Market size was valued at USD 109.5 Billion in 2024 and is projected to reach USD 184.5 Billion by 2033, exhibiting a CAGR of 6% from 2026 to 2033.
The global wind turbines market was valued at approximately USD 101.89 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 8.2% from 2023 to 2030. The increasing focus on renewable energy sources, the implementation of government initiatives supporting clean energy adoption, and the growing demand for sustainable electricity generation are key factors driving the market growth. In 2022, the largest market share was held by the Asia Pacific region, accounting for around 45% of the global market, largely driven by major investments in wind energy infrastructure in countries like China and India. North America and Europe follow, with significant contributions from the U.S. and Germany, which are major markets for offshore and onshore wind turbine installations, respectively.
Regionally, the wind turbines market shows strong growth prospects. The European market, valued at USD 26.5 billion in 2022, is expected to continue growing steadily, driven by offshore wind energy projects and policy support. The North American market is also expanding rapidly, with a projected CAGR of 7.5% from 2023 to 2030, supported by the U.S. commitment to renewable energy targets. Meanwhile, the Asia Pacific region remains the largest and fastest growing market for wind turbines, particularly in China, which is expected to contribute the largest share of global installations due to its ambitious renewable energy goals. Latin America and the Middle East & Africa regions are also expected to witness strong market growth as they tap into their wind energy potential for sustainable development.
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Enercon
Envision
Eveready Diversified Products
GE Wind Turbines
Goldwind
Leitwind
Mingyang
Nordex
Siemens Wind Power And Renewables
Suzlon
United Power
Vestas
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Wind Turbines Market
Horizontal Axis Wind Turbines (HAWT)
Vertical Axis Wind Turbines (VAWT)
Offshore Wind Turbines
Onshore Wind Turbines
Commercial
Residential
Industrial
Agricultural
Utilities
Small Scale (up to 100 kW)
Medium Scale (100 kW - 1 MW)
Large Scale (1 MW - 5 MW)
Utility Scale (over 5 MW)
Rotor Blades
Gearbox
Generator
Control System
Tower
Conventional Wind Technology
Advanced Wind Technology
Hybrid Wind Technology
Integrated Wind Energy Systems
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Wind Turbines Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Wind Turbines Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Wind Turbines Market, By Type
6. Global Wind Turbines Market, By Application
7. Global Wind Turbines Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Wind Turbines Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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