Market expansion is propelled by aggressive offshore deployments and surging corporate procurement. Growth depends on modernizing grid infrastructure and fortifying supply chains, allowing ultra-large turbines to deliver cost-competitive power while Asian economies drive global installation dominance.
Chicago, Jan. 16, 2026 (GLOBE NEWSWIRE) — The global Wind energy market size is projected to hit the market valuation of USD 287.9 billion by 2035 from USD 109.9 billion in 2025 at a CAGR of 10.11% during the forecast period 2026–2035.
Global demand for clean power is accelerating at a historic pace, driven by fierce economic competitiveness and strategic industrial mandates. Onshore wind generation remains highly cost-effective, with the Levelized Cost of Energy stabilizing between USD 27 and USD 73 per MWh in 2024, significantly undercutting fossil fuel alternatives in major regions. Stakeholders are witnessing a decisive pivot where energy security needs and aggressive corporate decarbonization strategies are fueling rapid expansion across the wind energy market.
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Key Market Highlights
- Market Size: USD 109 billion in 2025
- Projected Market Size: USD 285.56 billion (2035)
- CAGR: 10.11%
- Asia Pacific led the global market with the highest market share of 43% in 2025.
- By location, the offshore segment is estimated to capture the biggest revenue share in 2025.
- By application, the utility segment is predicted to register the maximum market share in 2025.
Asia Pacific to Lead Market: China’s Unrivaled Installation Blitz and Supply Chain Mastery Secure Regional Dominance
The Asia Pacific region’s 42% global market share in the global wind energy market is fundamentally anchored by China’s aggressive execution of its 14th Five-Year Plan, which mandated the grid connection of approximately 80 GW of wind capacity in 2024 alone. This unprecedented volume serves as the primary engine for regional dominance because it dwarfs the combined installations of Europe and the Americas. Consequently, Chinese manufacturers like Goldwind and MingYang Smart Energy have achieved massive economies of scale, producing over 60% of the world’s nacelles and effectively lowering the Levelized Cost of Energy (LCOE) for the entire region.
Furthermore, this manufacturing monopoly in the global wind energy market has enabled neighboring markets to accelerate their own deployment; for instance, Vietnam and India have capitalized on affordable regional supply chains to revitalize their respective auction regimes, with India awarding over 13 GW of renewable tenders recently. As a result, the region has transformed into a self-sustaining ecosystem where policy targets directly translate into steel-in-the-ground reality. Therefore, the Asia Pacific’s leadership is not merely a function of demand but a direct consequence of a vertically integrated industrial powerhouse that aggressively exports its cost efficiencies to surrounding nations.
Capital-Intensive Mega Projects and Twenty-Megawatt Turbines Drive Offshore Revenue Dominance
While onshore wind leads in installation numbers, the offshore segment commands the largest revenue share of the wind energy market because its capital expenditure (CAPEX) per megawatt is nearly triple that of land-based projects. Industry data from 2024 reveals that offshore projects average nearly $2.8 million per MW in installation costs, meaning a single 1 GW offshore farm generates financial turnover equivalent to 3 GW of onshore capacity. Consequently, massive financial inflows are triggered by the deployment of next-generation hardware, such as MingYang Smart Energy’s MySE 18-20 MW turbines installed in Hainan, which require specialized, high-value jack-up vessels and complex subsea cabling.
This revenue concentration across the wind energy market is further intensified by the scale of individual assets; projects like Ørsted’s 2.9 GW Hornsea 3 in the UK represent multi-billion dollar investment decisions that single-handedly skew market value toward the marine sector. Moreover, the shift into deeper waters necessitates floating wind platforms, which introduce additional engineering costs and supply chain contracts. Therefore, the offshore segment’s dominance is strictly financial, driven by the sheer engineering complexity and logistical magnitude required to harvest higher wind speeds at sea.
Grid-Scale Physics and Massive Corporate Procurement Solidify Utility Segment Leadership
The utility segment’s overwhelming dominance in the wind energy market is dictated by the immutable physics of wind energy, where larger rotor diameters exponentially increase power capture, thereby making utility-scale deployment the only economically viable option for significant generation. Unlike solar, which thrives on residential rooftops, wind turbines have scaled to tip heights exceeding 260 meters, necessitating their placement in vast, centralized arrays far from urban centers to maximize capacity factors. Consequently, over 90% of global wind investment is funneled into these grid-connected farms, as distributed small-wind applications remain inefficient by comparison.
This structural reliance on utility-scale infrastructure such as utility pole is being reinforced by a surge in demand from hyper-scale corporate off-takers who require gigawatt-level consistent power. In 2024 and 2025, technology giants like Amazon and Google signed record-breaking Power Purchase Agreements (PPAs) totaling nearly 20 GW, effectively underwriting massive wind farms that feed directly into national transmission grids. As a result, even private sector demand is satisfied through utility-scale projects rather than on-site generation. Therefore, the utility segment retains maximum share because both physics and modern corporate consumption patterns demand centralized, high-voltage solutions.
Surging Manufacturer Backlogs and Pricing Power Signal Strong Profitability Recovery
Leading Original Equipment Manufacturers are capitalizing on renewed pricing power and surging global demand to repair balance sheets in the wind energy maret. Vestas reported a robust Q3 2024 revenue of €5.2 billion and secured a firm order intake of 4.4 GW during the same period. Financial health is visibly improving across the sector. Vestas achieved an all-time high combined order backlog of €63.4 billion by the end of Q3 2024, securing years of future work. Pricing strategies have also matured significantly. The average selling price for Vestas turbines climbed to €1.1 million per MW in Q3 2024, signaling a healthier competitive environment for the wind energy market.
Major players in the wind energy market are booking unprecedented volumes as developers rush to secure hardware such battery storage, turbines, and utility poples. GE Vernova reported record orders of USD 13.2 billion in Q4 2024, heavily supported by its power and wind segments. For the full year 2024, GE Vernova secured total orders amounting to USD 44.1 billion. Siemens Gamesa also maintained strong physical execution capabilities. The company physically installed 294 offshore turbines globally during the 2024 calendar year, reinforcing its installation leadership.
Accelerated Global Deployment Velocity Defies Inflation With Record Capacity Additions in Wind Energy Market
Installation rates are defying earlier inflationary concerns and moving faster than historical trends. The global industry successfully added approximately 117 GW of new capacity in 2024. Projections indicate even stronger momentum ahead for the sector. Industry forecasts suggest a compound annual growth rate aiming for 138 GW in annual additions by 2025. Cumulative milestones highlight this massive scale. Global cumulative wind power capacity officially crossed the 1.14 TW threshold in 2024.
Adoption is geographically diverse, broadening the reach of the wind energy market. A total of 55 countries actively installed new turbines during 2024. International bodies are betting big on this technology to meet climate goals. The International Energy Agency forecasts that global renewable capacity will grow by 2.7 times between 2024 and 2030. Onshore wind remains the primary volume driver. Land-based projects contributed 109 GW to the global total in 2024. Emerging markets are also accelerating rapidly. The IEA revised its India forecast upward by 10% in late 2024 following faster auction processes.
Chinese Domestic Scale and Manufacturing Output Dominate Global Market Share
China operates at a magnitude that distinctively separates it from all other regions combined. The nation added 80 GW of wind power capacity in 2024 alone. Cumulative figures are equally staggering. China’s total wind capacity reached approximately 521 GW by the end of 2024. Global dominance is clear in the statistics. China accounted for 68.2% of all global wind capacity additions in 2024, cementing its leadership position.
The Chinese wind energy market also leads in offshore development and manufacturing throughput. Developers connected 4 GW of new offshore capacity to the grid in 2024, the highest volume in the world. Total installed offshore capacity in China reached 41.8 GW by the end of 2024. Supply chain control is heavily concentrated here. Chinese manufacturers secured 9 of the top 15 spots in global turbine supplier rankings for 2024. Future targets remain aggressive. The country plans to add over 200 GW of combined renewable energy capacity during 2025.
Offshore Sector Secures Unprecedented Pipeline Growth Through Record Government Auctions
Offshore wind is entering a phase of massive pipeline expansion despite isolated project cancellations in Western markets. The industry connected 8 GW of new offshore capacity in 2024. Global operational fleets are growing steadily. Total installed offshore wind capacity reached 83 GW by the close of 2024. Governments are clearing the way for massive future build-outs. A record-breaking 56.3 GW of offshore capacity was awarded in government auctions globally in 2024, setting the stage for a boom in the wind energy market.
Europe remains a central hub for offshore development activity. European nations awarded 23.2 GW of offshore capacity through auctions in 2024. Asian markets outside China are also maturing rapidly. South Korea auctioned 3.3 GW in 2024 to boost its clean energy mix. Taiwan successfully auctioned 2.7 GW of offshore capacity in 2024. Innovation continues to open new frontiers in deep waters. Floating wind reached 278 MW of net floating capacity installed globally by the end of 2024.
Corporate Procurement Volume Surges As Tech Giants Drive Record Demand
Private sector demand is reshaping the offtake landscape as data centers consume more power. European corporate Power Purchase Agreement markets contracted 19 GW of new renewable capacity in 2024. Deal volume is hitting new highs. The number of corporate PPA deals in Europe reached a record 316 agreements in 2024. Corporations are now the dominant buyers. Corporate buyers accounted for over 80% of all PPA deals in Europe in 2024, surpassing utilities in the wind energy market.
Technology and data center sectors are critical demand drivers. These industries drove approximately 70% of European corporate offtake activity in 2024. Spain leads this procurement wave. The country accounted for 4.66 GW of contracted volume in 2024. Germany is also seeing strong activity. German buyers contracted 2.04 GW of corporate renewable volumes in 2024. Market access is democratizing for smaller firms. The average size of corporate PPA deals in Europe decreased to 47 MW in 2024, allowing broader participation.
Massive Capital Inflows Shift Strategically Toward Supply Chain and Manufacturing
Capital is flooding into the sector to support massive infrastructure and hardware needs. Global investment in renewable energy technologies reached USD 807 billion in 2024. Broader transition funding is even larger. Total global investment in the energy transition hit a record USD 2.4 trillion in 2024. Storage investments are keeping pace to support the wind energy market. Investment in battery factories nearly doubled to USD 74 billion in 2024.
Service contracts are becoming a major asset class for investors. Vestas held a service backlog valued at €35.1 billion in Q3 2024, proving long-term annuity value. Project commitments remain robust despite high interest rates. European wind projects reached Final Investment Decisions totaling €15.4 billion in the first half of 2024. Supply chains are seeing targeted capital injection. The US industry committed a record USD 3 billion to offshore wind supply chain investments in 2024. Global manufacturing is expanding. Investment in clean energy supply chain facilities totaled USD 102 billion in 2024.
Urgent Grid Infrastructure Investments Ramp Up To Solve Connection Bottlenecks in the Wind Energy Market
Connecting turbines to the grid has become the primary industry focus to ensure power delivery. Global investment in power grids reached USD 390 billion in 2024 to support integration. Enormous capacity is waiting for these connections. The IEA estimates 1,700 GW of renewable capacity was stuck in grid queues as of 2024. Europe is responding with heavy spending. European grid investment figures were corrected upward to USD 375 billion in 2024 to address the needs of the wind energy market.
Energy Storage including battery energy storage is being deployed to balance intermittent generation. China’s accumulated new energy storage capacity exceeded 60 GW in 2024. Congestion remains a challenge in mature markets. Curtailment rates for renewables reached 10% in several major markets in 2024. Progress is visible despite hurdles. The UK grid connected 1.9 GW of new wind capacity in 2024. Equipment suppliers are seeing the benefit. GE Vernova’s grid segment saw orders increase 122% organically in Q4 2024.
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Wind Energy Market Major Players:
- Acciona Energia
- Brookfield Renewable Partners L.P.
- E.ON SE
- EDF Renewables
- Enel Green Power S.p.A.
- Enercon GmbH
- Envision Energy
- GE Vernova
- Goldwind
- Iberdrola, S.A.
- Ming Yang Smart Energy Group Limited
- NextEra Energy, Inc.
- Nordex SE
- Orsted A/S
- RWE AG
- Senvion S.A.
- Siemens Gamesa Renewable Energy, S.A.
- Suzlon Energy Ltd.
- Other Prominent Players
Key Market Segmentation:
By Location
- Onshore
- Offshore
By Application
- Utility
- Non-utility
By Component
- Turbine
- Support Structure
- Electrical Infrastructure
- Others
By Rating
- ≤ 2 MW
- >2≤ 5 MW
- >5≤ 8 MW
- >8≤10 MW
- >10≤ 12 MW
- 12 MW
By Region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
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