The global wind turbine market is set to expand to 934.6 GW in 2030 as national decarbonisation targets are driving the world into a new era of accelerated growth, GlobalData said in its 2024-2030 forecast.
Growing national-level clean energy commitments, rapid technological advancement and more resilient manufacturing ecosystems are expected to push the global market in what will be the industry’s “most competitive and transformative phase to date. “As nations ramp up wind deployment to meet climate targets and ensure long-term energy independence, the global wind turbine market is expected to grow significantly, reinforcing wind power's role as a cornerstone of the world’s renewable energy future,” said senior power analyst Bhavana Sri Pullagura.
According to GlobalData’s latest report, a total of 115.3 GW of new turbine capacity was deployed in 2024, of which 91.8% was from onshore assets and the remaining 8.2% came from the offshore sector.
The Asia-Pacific (APAC) region is currently the largest global wind turbine market in terms of annual installations, largely driven by China’s exponential deployments and the market leadership of major original equipment manufacturers (OEMs). Europe, the Middle East, and Africa (EMEA) region comes second, fuelled by binding climate mandates under the EU Green Deal in Europe and government-backed procurements in the Middle East and North Africa. The Americas are the third-largest market, led by the US and increased clean energy manufacturing supported by the Inflation Reduction Act (IRA).
“[..] European and US manufacturers remain competitive through advanced offshore technology, digital optimization, and robust service portfolios,” Pullagura said. “The current trends such as turbine upscaling, hybrid project integration, and supply chain localisation are transforming how and where turbines are produced and deployed,” she added.
