Wind Energy Market Size, Share & Trends Report (2024-2032) | UnivDatos

the market is expected to witness a CAGR growth of single digit during the forecast period 2021-2027F.

univdatos

Jul 18, 2025 - 12:51

According to UnivDatos’ research report “Global Wind Energy Market”, the market is expected to witness a CAGR growth of single digit during the forecast period 2021-2027F. Constant advancements in Wind Energy have been made in the turbine technology for augmenting the turbine capacity and generating more energy, with an emphasis on achieving significant cost reductions. Higher-capacity wind turbines have larger swept areas and produce more power for the same resource quality, thereby generating higher wind farm output levels. Also, technological improvements such as increased capacity of wind turbines, floating wind turbines, and 3D printing, have brought the overall cost of wind power to lowest level, and opened up new offshore locations such as deep water that were previously inaccessible due to lack of investment and technology. Country governments are partnering with private sector to invest heavily in wind energy technology to increase their renewable power mix which is further driving the market growth in the global context.

The rising need to curb global greenhouse gas (GHG) emissions from numerous sources and significant measures to achieve a carbon-free society is fueling the demand for global wind energy market growth.

Investments in the offshore wind energy sector have augmented in recent times, due to the surging awareness about the advantages of renewable sources of energy. Moreover, the limited availability of fossil fuel reserves is encouraging many governments and private organizations to focus on non-conventional and clean energy sources for generating power.

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Moreover, offshore wind energy has higher potential of power production as compared to onshore wind energy. It maintains better productivity and can ensure wildlife and human habitat conservation in a more efficient manner. Furthermore, higher, and more consistent wind speeds in offshore wind farms have the potential to generate more electricity at a steadier rate than their onshore counterparts.

In recent years, rapid advancements in offshore wind technologies and addition of large capacity wind energy are increasingly becoming a possibility with rise in the pace of advancement of offshore wind technology in Europe, the US, and China. This advancement of technology is anticipated to reduce the levelized cost of electricity (LCOE) from offshore wind in the near future. This, in turn, is likely to propel the demand for wind energy across the globe.

Based on the Component, the market is segmented into turbine, support structure, electrical infrastructure, and others. More than 80% of total wind turbines mass is made up of recyclable materials, such as steel, iron, copper and aluminum, according to National Renewable Energy Laboratory (NREL). But anywhere from 11-16% is composed of carbon fiber or fiberglass composites, plastics, and resin, primarily for rotor blades which have a life expectancy of up to 25 years and are currently difficult to recycle commercially. These figures may be adjusted as turbine designs adapted, hub heights increase, blades become longer and lighter and components become more resilient or are replaced by more easily recyclable materials.

Based on Application, the market is bifurcated into onshore and offshore. Onshore wind became one of the cheapest new sources of electricity in 2020, while offshore wind has delivered incredible global levelized cost of electricity (LCOE) reduction of more than 67% over the last 8 years, costs will decline by another third by 2030. In 2020, 86.9 GW of onshore & 6 GW of offshore wind capacity was added globally, wind capacity beyond the 700 GW milestone.

Asia Pacific Grabbed Lion’s Share and growing at an influential growth rate.

Based on regions, the report provides detailed analysis for overall adoption of wind energy in the global region including North America, Europe, Asia-Pacific, and Rest of World. Asia Pacific is expected to see high growth of wind energy owing to manufacturing companies focus on the market with rising the investment in research and development coupled with favorable government policy for renewable energy. However, in 2020, the outbreak of coronavirus had severely affected the shortage of raw materials due to the disruption in the supply chain and restrictions on cross-border trade which in turn had affected the overall expansion of the wind energy market in Asia Pacific. Land acquisition issues faced by wind operator companies in India led to down slide of wind energy market in the country. Vietnam is expected to be a key driver in this region considering the highly awaited Power Development Plan (PDP8).

According to UnivDatos, the key players with a considerable market share in the global wind energy market are Nordex SE, Suzlon Energy Ltd., Ørsted A/S, GE Renewable Energy, ABB Ltd., Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, Xinjiang Goldwind Science & Technology Co., Ltd., Envision Energy Limited, Enercon GmbH. These companies are investing heavily on wind energy production & technology to increase their customer base.

“Global Wind Energy Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.

Market Segmentation:

· By Component (Turbine, Support Structure, Electrical Infrastructure, Others)

· By Application (Onshore and Offshore)

· By Region (North America, Europe, Asia-Pacific, and Rest of World)

· By Company (Nordex SE, Suzlon Energy Ltd, Ørsted A/S, GE Renewable Energy, ABB Ltd., Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, Xinjiang Goldwind Science & Technology Co., Ltd., Envision Energy Limited & Enercon GmbH)

Click here to view the Report Description & TOC: https://univdatos.com/reports/wind-energy-market

Key questions answered in the study:

· What are the current and future trends of the global wind energy industry?

· How the industry has been evolving in terms of component demand and application category?

· How the competition has been shaping across the countries followed by their comparative factorial indexing?

· What are the key growth drivers and challenges for the global wind energy industry?

· What is the customer orientation, purchase behavior, and expectations from the global wind energy suppliers across various countries?

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