Wind Market Report 2026

The wind market size has grown strongly in recent years. It will grow from $165.18 billion in 2025 to $179.55 billion in 2026 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to expansion of renewable portfolio standards, early deployment of onshore wind farms, improvements in turbine efficiency, increasing land-based wind capacity installations, supportive government incentives.

The wind market size is expected to see strong growth in the next few years. It will grow to $247.74 billion in 2030 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to growing offshore wind investments, rising demand for hybrid renewable systems, increasing deployment of digital condition monitoring, expansion of grid-scale wind storage integration, continued reduction in levelized cost of wind energy. Major trends in the forecast period include expansion of large-scale onshore wind projects, rising development of offshore wind farms, growing use of advanced turbine monitoring systems, increasing adoption of high-capacity wind turbines, enhanced focus on grid integration solutions.

A growing demand for renewable energy sources is expected to drive the expansion of the wind market in the coming years. Renewable power sources are forms of energy that are naturally replenished within a human timescale and can be used continuously without being exhausted. The demand for renewable energy is driven by environmental concerns, supportive government policies, and climate-related goals. Wind energy plays a crucial role in renewable energy strategies, providing a sustainable and scalable solution to lessen dependence on fossil fuels. Its capacity to generate clean electricity without emissions makes it an essential element in transitioning toward a greener and more resilient energy future. For example, in December 2024, Eurostat - a Luxembourg-based government organization - reported that renewable energy sources accounted for 24.5% of the EU’s gross final energy consumption in 2023, an increase of about 1.4 percentage points from 2022. Therefore, the rising demand for renewable energy sources is contributing to the growth of the wind market.

Major companies participating in the wind market are concentrating on developing advanced solutions such as high-capacity turbines with optimized rotor designs to improve energy output and site adaptability. These turbines enable greater power generation from limited land areas while maintaining efficiency and reliability. For instance, in April 2025, Senvion Wind Technology Private Limited, an India-based wind energy company, introduced the 3.1M130 wind turbine, featuring a 130-meter rotor and advanced control systems. Built on the 2XM architecture, it is specifically designed for pad-constrained locations with limited installation space. The turbine was designed, prototype-tested, and certified in India, with more than 80% of its components manufactured locally. The model underwent a complete design upgrade to ensure it delivers rated power and annual energy output. Senvion India plans to begin grid-connected commercial installations nationwide, leveraging its engineering expertise to address the unique challenges of Indian wind projects. The launch demonstrates the company’s capability to deliver durable, locally tailored solutions for the growing wind energy sector.

In August 2024, Suzlon Energy Limited, an India-based wind turbine manufacturer, acquired Renom Energy Services Private Limited for an undisclosed sum. Through this acquisition, Suzlon aims to strengthen its leadership in wind energy operations and maintenance by purchasing a 76% stake in Renom Energy Services. This move expands Suzlon’s footprint into the non-Suzlon turbine services market and positions Renom as a major independent service provider. Renom Energy Services Private Limited is an India-based company specializing in operations and maintenance services for renewable energy assets, particularly in the wind and solar sectors.

Major companies operating in the wind market are Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, GE Vernova, Goldwind Science & Technology Co Ltd, ENERCON GmbH, Nordex SE, Mingyang Smart Energy Group Co Ltd, Envision Energy, Sany Renewable Energy Co Ltd, Shanghai Electric Wind Power Group Co Ltd, Windey Energy Technology Group Co Ltd, Suzlon Energy Ltd, CRRC Wind Power, CSIC HZ Wind Power, United Power, Ørsted, NextEra Energy, RWE, Neoen, Titan Wind Ener.

Asia-Pacific was the largest region in the wind market in 2025. 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, South East Asia, 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, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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.

This product will be delivered within 1-3 business days.