Wind Turbines Market Report 2025 (Global Edition)

Global Wind Turbines Market Report 2025 Market Size Split by Axis type (Horizontal, Vertical), by Installation (Onshore, Offshore), by Component (Rotator Blade, Gearbox, Generator, Nacelle, Others), b...

Wind Turbines Market Report Description

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Wind Turbines Market Insights Video

Competitive Landscape of the Wind Turbine Market

The Wind Turbine Market is highly competitive, with a mix of global giants and regional players striving for market share. Leading companies such as Vestas, Siemens Gamesa, and GE Renewable Energy dominate the market, driven by their extensive product portfolios, advanced technology, and large-scale production capabilities.

November 2023: GE Vernova agreed with O2 Power Private Limited to supply, install, and commission 36 units of its workhorse 2.7-132 onshore wind turbines for the 97 MW wind power projects in Maharashtra, India. (Source: https://www.electricalindia.in/o2-power-places-order-for-ge-vernovas-workhorse-2-7-132-onshore-wind) January 2023 : Braun Windturbinen GmbH, a wind turbine manufacturer in Germany, announced the installation of 7.5 KW of small wind turbines. The system operates three parallel to the grid with the Smart Wind SW7.5 and as a backup heating system with a 6.0 kW heating rod. (Source: https://w3.windfair.net/wind-energy/news/43205-braun-windturbinen-small-wind-turbine-antaris-germany-tilt-mast-kw)

January 2024: Suzlon Group made a new 225 MW wind energy order for their 3MW series from Everrenew Energy. Suzlon installed 75 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW each at the client's sites at Vengaimandalam, Trichy district and Ottapidaram, Tuticorin district in Tamil Nadu.
(Source:https://www.suzlon.com/press-release-detail/466/suzlon-secures-a-new-225-mw-order-for-their-3-mw-series-from-everrenew-energy-private-limited )
 

Top Companies Market Share in Wind Turbines Industry: (In no particular order of Rank)

• General Electric Company
• Vestas Wind Systems A/S
• Nordex SE
• Suzlon Energy Limited
• Siemens Gamesa Renewable Energy
• S.A.
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Regional Analysis of the Wind Turbine Market

Which Region Dominates the Wind Turbine Market in 2024?

According to Cognitive Market Research, North America is the dominant region in the Wind Turbine Market due to its robust infrastructure, strong governmental support, and abundant wind resources. The United States, in particular, has implemented favorable policies, such as tax credits and renewable energy mandates, which have spurred significant investments in wind energy. Additionally, the region benefits from advanced technological capabilities and a well-established supply chain that supports large-scale wind projects.

Which Region is Expanding at the Fastest CAGR?

Asia Pacific stands out as the fastest-growing region in the Wind Turbine Market due to its rapid industrialization, increasing energy demand, and substantial investments in renewable energy. Countries like China and India are leading this growth with large-scale wind projects, driven by their ambitious targets to reduce carbon emissions and transition to sustainable energy sources. The region benefits from strong government support, including subsidies and favorable policies, which boost market expansion.

The current report Scope analyzes Wind Turbines Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Wind Turbines Market Analysis

According to Cognitive Market Research, the global Wind Turbine market size was estimated at USD 55142.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 22057.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Wind Turbine market with a market size of USD 17402.97 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. The nation's surge in investments in renewable energy.
• The Canada Wind Turbine market had a market share of USD 2646.84 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Canada's surge in investments in renewable energy.
• The Mexico Wind Turbine market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 2007.19 million in 2024.

Europe Wind Turbines Market Analysis

According to Cognitive Market Research, the global Wind Turbine market size was estimated at USD 55142.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 16542.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.

• The United Kingdom Wind Turbine market had a market share of USD 2779.18 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In the UK, Wind Turbine sales witness an upswing due to the nation's aggressive climate targets and substantial investments in wind infrastructure.
• The France Wind Turbine market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 1521.93 million in 2024.
• According to Cognitive Market Research, the German Wind Turbine market size was valued at USD 3275.46 million in 2024 and is projected to grow at a CAGR of 5.7%during the forecast period. In Germany, Wind Turbine surged due to the aggressive climate targets and substantial investments in wind infrastructure.
• The Italy Wind Turbine market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 1422.68 million in 2024.
• The Russia Wind Turbine market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 2564.13 million in 2024.
• The Spain Wind Turbine market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 1356.51 million in 2024
• The Luxembourg Wind Turbine market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 512.83 million in 2024.
• The Portugal Wind Turbine market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 347.40 million in 2024.
• The Greece Wind Turbine market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 198.51 million in 2024.
• Rest of Europe's Wind Turbine market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 2564.13 million in 2024.

Asia Pacific Wind Turbines Market Analysis

According to Cognitive Market Research, the global Wind Turbine market size was estimated at USD 55142.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 12682.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.

• According to Cognitive Market Research, the China Wind Turbine market size was valued at USD 5707.25 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. Wind Turbine surged in China due to the rapid industrialization and a growing emphasis on renewable energy sources.
• The Japan Wind Turbine market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 1750.22 million in 2024.
• The India Wind Turbine market had a market share of USD 1521.93 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. India's rapid industrialization and a growing emphasis on renewable energy sources.
• The South Korean Wind Turbine market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 1268.28 million in 2024.
• The Australian Wind Turbine market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 659.50 million in 2024.
• The South East Asia Wind Turbine market is projected to witness growth at a CAGR of 10.0% during the forecast period, with a market size of USD 875.11 million in 2024.
• The Rest of Asia Pacific Wind Turbine market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 900.48 million in 2024.

South America Wind Turbines Market Analysis

According to Cognitive Market Research, the global Wind Turbine market size was estimated at USD 55142.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 2757.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031. .

• According to Cognitive Market Research, the Brazil Wind Turbine market size was valued at USD 1180.05 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Wind Turbines flourished in Brazil due to the increasing emphasis on renewable energy to meet rising electricity demands and reduce reliance on fossil fuels.
• Argentina's Wind Turbine market had a market share of USD 463.20 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. Argentina's increasing emphasis on renewable energy to meet rising electricity demands and reduce reliance on fossil fuels.
• Colombia Wind Turbine market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 245.38 million in 2024.
• Peru Wind Turbine market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 226.08 million in 2024.
• Chile Wind Turbine market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 198.51 million in 2024.
• The Rest of Latin America's Wind Turbine market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 443.90 million in 2024.

Middle East Wind Turbines Market Analysis

According to Cognitive Market Research, the global Wind Turbine market size was estimated at USD 55142.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 1102.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031..

• The GCC Countries Wind Turbine market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 472.02 million in 2024. Wind Turbine sales flourish due to the increasing investments in renewable energy.
• The Egypt Wind Turbine market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 115.80 million in 2024.
• The South Africa Wind Turbine market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 174.25 million in 2024. Wind Turbine sales flourish in South Africa due to increasing investments in renewable energy.
• The Turkey Wind Turbine market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 94.85 million in 2024.
• The Nigeria Wind Turbine market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 115.80 million in 2024.
• The Rest of MEA Wind Turbine market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 130.14 million in 2024.

Wind Turbines Market Analysis

Wind Turbine Market Axis type Segment Analysis

According to Cognitive Market Research, Horizontal axis wind turbines dominate the wind turbine market due to their high efficiency and established technology. Their design, which includes blades mounted on a horizontal axis, allows for capturing wind energy more effectively compared to other types. HAWTs have been extensively researched and developed, resulting in optimized performance and greater energy yield.

Vertical axis wind turbines are the fastest-growing category in the wind turbine market. Their growth is driven by advancements in technology and increasing interest in urban and distributed energy solutions. VAWTs offer several advantages, including lower noise levels, reduced visual impact, and the ability to capture wind from any direction.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Wind Turbines Industry. Request a Free Sample PDF!

Wind Turbine Market Installation Segment Analysis

According to Cognitive Market Research, Onshore wind turbines are the dominant category in the wind turbine market due to their lower installation and maintenance costs compared to offshore turbines. They benefit from established infrastructure, including roads and power grids, which reduces overall expenses. Onshore installations are also favored for their proximity to energy demand centers, providing easier integration into existing power systems.

The Offshore wind turbines are fastest-growing category in the wind turbine market. This growth is driven by the increasing capacity of offshore wind farms to generate higher energy outputs due to stronger and more consistent wind speeds at sea. Technological advancements and investments in floating wind turbine platforms are expanding their feasibility, even in deeper waters.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Wind Turbines Component Segment Analysis

Wind Turbine Market Component Segment Analysis

According to Cognitive Market Research, Rotator blades are the dominant component in the wind turbine market due to their crucial role in capturing wind energy and converting it into mechanical power. As the most visible and critical part of a wind turbine, the efficiency and performance of rotator blades directly impact the overall energy output. Advances in materials and aerodynamic design have enhanced their durability and efficiency, making them essential for optimizing turbine performance.

The Generators are the fastest-growing component in the wind turbine market. This growth is attributed to technological innovations aimed at increasing energy conversion efficiency and integrating advanced features, such as variable speed capabilities and improved control systems. As wind turbines continue to evolve, the demand for high-performance generators capable of handling greater power outputs is rising.

• Rotator Blade
• Gearbox
• Generator
• Nacelle
• Others

Wind Turbines Application Segment Analysis

Wind Turbine Market Application Segment Analysis

According to Cognitive Market Research, the utility sector is the dominant application category. This dominance is due to the large-scale nature of utility wind farms, which are designed to generate significant amounts of power for the grid. Utility-scale wind turbines benefit from economies of scale, allowing for greater energy production and more efficient use of resources.

The residential sector is the fastest-growing category in the wind turbine market. This growth is driven by increasing awareness of renewable energy benefits and advancements in small-scale wind turbine technology, making residential installations more feasible. The rise in incentives and subsidies for homeowners, coupled with the decreasing cost of residential wind turbines, is fueling this expansion.

• Industrial
• Commercial
• Residential
• Utility

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.

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