Wind Turbine Market Report 2026

The wind turbine market size has grown strongly in recent years. It will grow from $178.89 billion in 2025 to $194.83 billion in 2026 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to renewable energy policies, declining wind power costs, climate change commitments, grid diversification needs, fossil fuel price volatility.

The wind turbine market size is expected to see strong growth in the next few years. It will grow to $283.8 billion in 2030 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to net zero targets, offshore wind investments, grid scale renewable integration, advancements in turbine efficiency, energy security initiatives. Major trends in the forecast period include rapid expansion of utility scale wind projects, increasing deployment of offshore wind farms, advancements in turbine blade materials, integration of digital monitoring systems, growth of high capacity wind turbines.

Increasing demand for renewable energy sources is contributing to the growth of the wind turbine market. Renewable energy refers to power generated from sources that are naturally replenished and do not run out. Unlike fossil fuels such as coal, oil, and natural gas, wind energy produces significantly fewer environmental impacts. Wind turbines generate electricity without releasing emissions that pollute the air or water, and they do not require water for cooling. They also help reduce dependence on fossil fuel-based power, lowering overall air pollution and carbon dioxide emissions. For example, in February 2025, the World Resources Institute, a US-based nonprofit organization, reported that solar energy reached a new milestone in 2024 by adding an estimated 39.6 gigawatts (GW) of capacity, surpassing the 27.4 GW installed in 2023. Therefore, the increasing demand for renewable energy sources is driving the growth of the wind turbine market.

Major companies in the wind turbine market are focusing on developing next-generation ultra-high-capacity offshore turbines - often called multi-megawatt “super WTG” platforms - to increase energy production and enhance project economics. These advanced offshore turbines feature much larger rotor diameters and higher power ratings, allowing them to generate significantly more electricity per unit and reduce the levelized cost of energy (LCoE) for large-scale wind farms. For example, in December 2024, Siemens Gamesa, a Germany-based energy automation company, began installing a 21 MW offshore wind turbine prototype at the Østerild Test Centre in Denmark. This prototype, with a rotor height exceeding 300 meters from base to blade tip, is designed to deliver exceptional power output per turbine. This trend enables developers to reduce the number of turbines needed per project and optimize operations and maintenance costs. However, the technical complexity, higher upfront costs, and logistical challenges of deploying such large offshore units may limit adoption in regions lacking adequate installation infrastructure or financing.

In July 2023, Ryse Energy, a United Arab Emirates-based global leader in renewable energy systems, acquired Primus Wind Power for an undisclosed amount. This acquisition aims to expand Ryse Energy’s market presence in America and diversify its portfolio of small wind turbines. Both companies expect the acquisition to help broaden their customer base for microturbine products. Primus Wind Power is a US-based manufacturer of portable wind turbines and air breeze turbine systems.

Major companies operating in the wind turbine market are Clipper Windpower A/S, Siemens AG, General Electric Company, Suzlon Energy Limited, CRRC Group Corporation, Shanghai Electric Group Co. Ltd., Vestas Wind Systems A/S, Sany Heavy Industry Co. Ltd., Gamesa Electric, Dongfang Electric Corporation, Nordex SE, Goldwind Science and Technology Co. Ltd., Ming Yang Smart Energy Group Co. Ltd., Guodian United Power Technology Co. Ltd., Zhejiang Windey Co. Ltd., Envision Energy, LM Windpower A/S, Impsa S.A., Sinovel Wind Group Co. Ltd., Leitwind GmbH, Vergnet S.A., Northern Power Systems Ltd., Enercon GmbH Windenergieanlagen, Senvion SE, Bergey Windpower Inc., United Power Inc.

Asia-Pacific was the largest region in the wind turbine market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wind turbine 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 turbine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The wind turbine market consists of sales of single blade horizontal-axis turbines, two-blade horizontal-axis turbine, three-blade horizontalal-axis turbines. 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.