Wind Energy Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Type (Offshore and Onshore), By End-User (Industrial, Commercial, and Residential), By Region, Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 87.82 Billion
CAGR (2026-2031)	11.14%
Fastest Growing Segment	Industrial
Largest Market	Asia Pacific
Market Size (2031)	USD 165.51 Billion

Market Overview

The Global Wind Energy Market will grow from USD 87.82 Billion in 2025 to USD 165.51 Billion by 2031 at a 11.14% CAGR. The Global Wind Energy Market encompasses the engineering, manufacturing, and deployment of turbines that harness kinetic air energy to generate electricity. Market growth is primarily sustained by rigorous national decarbonization targets and a strategic emphasis on energy security to reduce dependence on imported fuels. Furthermore, the cost-competitiveness of wind power relative to conventional energy sources continues to stimulate investment across both onshore and offshore sectors.

According to the Global Wind Energy Council, in 2025, the global wind industry added a record 117 GW of new capacity during the previous year. Despite this progress, the market faces a critical challenge regarding grid integration and permitting inefficiencies. Inadequate transmission infrastructure and protracted regulatory approval timelines frequently delay project commissioning, creating a bottleneck that could impede the trajectory of future market expansion.

Key Market Drivers

The implementation of favorable government policies and financial incentives serves as a primary catalyst for the Global Wind Energy Market. National strategies, such as tax credits, feed-in tariffs, and renewable energy auctions, mitigate investment risks and lower the capital barrier for new infrastructure projects. These regulatory frameworks are essential for accelerating deployment rates across major economies by ensuring long-term revenue visibility for developers. For instance, the United States market has demonstrated resilience due to such support mechanisms. According to the American Clean Power Association, August 2024, in the 'Clean Power Quarterly Market Report Q2 2024', the U.S. land-based wind sector installed 1,370 MW in the second quarter, a volume significantly supported by federal tax incentives. Such legislative backing continues to be the decisive factor in sustaining project pipelines amidst economic volatility and fluctuating supply chain costs.

Concurrently, the rapid expansion of the offshore and floating wind sectors is unlocking new growth avenues beyond saturated onshore sites. Developers are increasingly targeting deep-water zones where higher and more consistent wind speeds yield superior energy generation efficiency. Technological progression in floating platforms now permits turbine installation in maritime areas previously deemed inaccessible, thereby expanding the addressable market. According to the Global Wind Energy Council, June 2024, in the 'Global Offshore Wind Report 2024', the global offshore wind industry commissioned 10.8 GW of new capacity in 2023, marking the sector's second-best annual performance. This shift towards maritime deployment is critical for increasing the total renewable generation base. Highlighting the scale of this overall energy transition, according to the International Renewable Energy Agency, in 2024, the total global installed wind capacity reached 1,017 GW by the end of the preceding year.

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Key Market Challenges

Inadequate transmission infrastructure and protracted regulatory approval timelines constitute a primary barrier to the expansion of the Global Wind Energy Market. As developers seek to deploy capacity in resource-rich areas, existing power grids often lack the physical capability to integrate the influx of variable renewable energy. This technical limitation forces grid operators to impose curtailment measures or deny connection requests, which significantly undermines the revenue potential of wind assets. Consequently, financial stakeholders face heightened risk as capital becomes trapped in developments that cannot reach the commercial operation stage due to administrative delays.

These systemic inefficiencies directly result in a substantial backlog of projects that are technically viable but legally or physically stalled. The inability to secure timely grid access prevents the industry from capitalizing on the cost-competitiveness of wind power, effectively capping the rate of new installations. According to the American Clean Power Association, in 2024, there were over 1,000 gigawatts of clean energy capacity waiting in interconnection queues in the United States alone, illustrating the magnitude of this infrastructure deficit. Such bottlenecks restrict the market from maintaining the momentum necessary to meet global energy demands.

Key Market Trends

The proliferation of Corporate Power Purchase Agreements is reshaping the market's financial structure by reducing reliance on government subsidies and diversifying revenue streams. Large multinational corporations, driven by internal decarbonization targets and the need to hedge against volatile electricity prices, are increasingly bypassing traditional utility contracts to procure energy directly from wind developers. This shift provides projects with the long-term bankability required to secure financing in competitive, zero-subsidy environments, thereby sustaining installation volumes even as public support mechanisms evolve. According to WindEurope, February 2025, in the 'Wind energy in Europe: 2024 Statistics' report, dedicated wind power purchase agreements accounted for 4 GW of the contracted capacity across the region in 2024.

The repowering of aging wind farm assets is becoming a pivotal strategy for maximizing generation efficiency within land-constrained mature markets. As the initial generation of turbines reaches the end of its operational life, developers are replacing obsolete units with fewer, ultra-large capacity models that deliver significantly higher output. This approach optimizes the utilization of prime wind resources and existing grid interconnection infrastructure, allowing operators to bypass the complex permitting challenges often associated with greenfield developments. According to WindEurope, February 2025, in the 'Wind energy in Europe: 2024 Statistics' report, the European wind sector successfully repowered 1.6 GW of existing capacity during the previous year.

Segmental Insights

The industrial segment represents the fastest-growing category within the global wind energy market, driven by the intensifying global focus on industrial decarbonization. Heavy manufacturing and processing facilities are increasingly adopting wind power to comply with stringent environmental regulations and corporate sustainability mandates. This shift is supported by the surge in corporate Power Purchase Agreements, which enable businesses to secure stable, long-term energy pricing while reducing reliance on volatile fossil fuels. Data from the Global Wind Energy Council indicates that large-scale industrial consumers are prioritizing these renewable investments to align with international climate targets and operational efficiency goals.

Regional Insights

Asia Pacific leads the global wind energy market, primarily due to substantial infrastructure development and rising energy needs in major economies like China and India. The region benefits from strong government mandates aiming for decarbonization and energy security. Notably, strategic planning by China's National Energy Administration has fostered extensive onshore and offshore capacity additions to meet climate goals. This regulatory support, combined with a robust manufacturing supply chain, allows the region to scale operations effectively. Consequently, the convergence of policy incentives and high industrial demand establishes Asia Pacific as the central driver of global market growth.

Recent Developments

• In December 2024, Siemens Gamesa confirmed the transport of a nacelle for a new offshore wind turbine prototype to the Østerild National Test Centre in Denmark. The prototype is reported to have a massive capacity of 21 MW, making it one of the most powerful wind turbines currently in development. The testing program, which is supported by the EU Innovation Fund, aims to validate the design, reliability, and performance of the turbine before it enters commercial production. This initiative highlights the company's focus on research and development to increase energy output and efficiency in the offshore sector.
• In October 2024, Goldwind presented its new GWH300-20 (25) MW offshore wind turbine platform, marking a major advancement in global turbine capacity. The new model features a rotor diameter of approximately 300 meters and a swept area equivalent to ten standard football fields. With a flexible power rating ranging between 20 MW and 25 MW, the turbine is specifically designed for deep-water installations and is capable of withstanding super typhoons with wind speeds exceeding 60 meters per second. This product launch positions the company as a leader in the development of ultra-large offshore wind technologies.
• In September 2024, GE Vernova Inc. announced a collaboration with PPC Renewables to supply and install 23 onshore wind turbines for a wind farm in Vaslui County, Romania. The agreement involves the deployment of the company's 6.1 MW-158m turbines, which will add 140 MW to the region's renewable energy capacity. This contract expands the manufacturer's presence in Romania, where it already maintains a substantial installed base. The project is expected to be fully operational by the end of 2025 and will support the country's strategic goal of installing an additional 5 GW of wind energy by 2030.
• In July 2024, MingYang Smart Energy launched the "OceanX", a dual-headed floating offshore wind turbine platform, in Guangzhou, China. The innovative platform features a V-shaped structure with two counter-rotating rotors and a total capacity of 16.6 MW. Designed to withstand Category 5 hurricanes with wind speeds up to 161 mph, the turbine is engineered for deep-water applications and extreme weather conditions. The launch represents a significant breakthrough in offshore wind technology, with the company estimating that a single unit can generate 54,000 MWh annually, sufficient to power approximately 30,000 households.

Key Market Players

• Goldwind
• Envision Energy
• MingYang Smart Energy
• Windey
• Vestas Wind Systems
• Siemens Gamesa Renewable Energy
• GE Vernova
• NextEra Energy
• Nordex Group
• Suzlon Energy

By Type	By End-User	By Region
Offshore and Onshore	Industrial Commercial and Residential	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Wind Energy Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Wind Energy Market, By Type:

• Offshore and Onshore

• Wind Energy Market, By End-User:

• Industrial
• Commercial
• and Residential

• Wind Energy Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE