Wind Market Report 2025

This wind market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The wind market size has grown strongly in recent years. It will grow from $151.09 billion in 2024 to $165.18 billion in 2025 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to the increasing demand for electricity, the increasing demand for clean energy, the declining cost of wind energy, the rising infrastructural development, and rising environmental awareness.

The wind market size is expected to see strong growth in the next few years. It will grow to $228.78 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the surge in demand for renewable power sources, government policies and financial incentives, diversification of energy sources, increasing participation from the private sector through corporate power purchase agreements (PPAs), and increase in demand for offshore wind turbines. Major trends in the forecast period include advanced technologies, the development of floating wind turbines, the integration of advanced sensors, innovative materials, such as carbon composites to improve turbine efficiency, and hybrid energy systems.

The increasing demand for renewable power sources is expected to drive the growth of the wind market moving forward. Renewable power sources are naturally replenished over a human timescale and can be used continuously without depleting their supply. This demand is driven by environmental concerns, government policies, and climate objectives. Wind energy plays a crucial role in renewable energy strategies, providing a sustainable and scalable solution to reduce dependence on fossil fuels. Its capability to produce clean electricity without emissions is vital for transitioning to a greener, more resilient energy future. For example, in December 2023, Eurostat, a Luxembourg-based government agency, reported that renewable energy accounted for 23% of energy consumption in the European Union in 2022, an increase from 21.9% in 2021. Thus, the growing demand for renewable power sources is fueling the expansion of the wind market.

Major companies in the wind market are focusing on developing innovative solutions, such as wind turbines with medium-speed geared (MSG) drive technology, to enhance efficiency, lower operational costs, and extend the reliability and lifespan of wind turbines. This technology offers a cost-effective alternative to traditional high-speed geared and direct-drive systems by balancing the efficiency of direct-drive systems with the affordability of high-speed geared systems. For example, in July 2022, WEG S.A., a Brazil-based motors and generators company, introduced a new wind turbine platform featuring medium-speed geared (MSG) drive technology, boasting a 7 MW capacity and a 172-meter rotor diameter. The platform's advanced features enable seamless integration with electrical grids and adaptability to various regional grid codes. Additionally, it can produce reactive energy even when the wind is absent, providing extra benefits beyond power generation. The redesigned turbine also includes modular components, such as a taller tower, to improve logistics and simplify assembly, especially in challenging geographic locations.

In August 2024, Suzlon, an India-based manufacturer of wind turbines, acquired Renom Energy Services Private Limited for an undisclosed amount. This acquisition is intended to enhance Suzlon's leadership in wind energy operations and maintenance (O&M) by securing a 76% stake in Renom Energy Services. It will enable Suzlon to expand its footprint into the non-Suzlon wind turbine services market and establish Renom as a prominent independent service provider. Renom Energy Services specializes in offering operations and maintenance services for renewable energy assets, particularly in the wind and solar sectors.

Major companies operating in the wind market are Hitachi Ltd., Mitsubishi Heavy Industries Ltd., Acciona Energy S.A., Vestas Wind Systems A/S, Doosan Corporation, BVG India Ltd., Goldwind Science & Technology Co. Ltd., Nordex SE, Enercon GmbH, Altana AG, Adani Green Energy Limited, Suzlon Energy Limited, Envision Energy Limited, Sinovel Wind Group Co. Ltd., Apex Wind Energy LLC, Inox Wind Limited, Mingyang Smart Energy Group Co. Ltd., SANY Group Co. Ltd., A2Sea A/S, Amegni LLC, Eco RRB Infra Private Limited.

Asia-Pacific was the largest region in the wind market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the wind market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wind market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Wind is the movement of air from an area of high pressure to an area of low pressure. It is caused by the sun's uneven heating of the Earth's surface, which creates pressure differences in the atmosphere. Wind can vary in speed and direction and is essential to weather patterns, climate, and environmental processes.

The main components of wind are turbines, electrical infrastructure, rotor blades, generators, brushes, towers, and others. Turbines are mechanical devices that convert kinetic energy from wind into electrical power by rotating blades connected to a generator. The various technologies include horizontal, vertical, and others. The various locations include onshore, and offshore. These are used by various end users such as energy and power, agriculture, food and beverage, paper and pulp, chemical, commercial, and others.

The wind market research report is one of a series of new reports that provides wind market statistics, including wind industry global market size, regional shares, competitors with a wind market share, detailed wind market segments, market trends, and opportunities, and any further data you may need to thrive in the wind industry. This market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The wind market consists of sales of small scale turbines, generators and hybrid wind systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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