Wind Energy Market Set for Strong Growth Through 2035 as Clean Power Demand, Technology Advances and Global Investments Create New Opportunities
Dublin, Sept. 18, 2026 (GLOBE NEWSWIRE) -- "Wind Energy Market Size, Industry Dynamics, Opportunity Analysis and Forecast 2026-2035" has been added to ResearchAndMarkets.com's offering.
Global Wind Energy Market Forecast to Reach USD 287.9 Billion by 2035
Global wind power capacity has reached record levels, reinforcing the expanding role of wind energy within the renewable power market. Valued at approximately USD 109.9 billion in 2025, the global wind energy market is projected to reach around USD 287.9 billion by 2035, representing a compound annual growth rate of 10.11% from 2026 to 2035.
Market growth is being supported by accelerating offshore wind farm deployment, rising corporate renewable energy procurement and the increased use of green power purchase agreements. Stronger and more consistent offshore wind resources are improving generation potential, while long-term procurement agreements are strengthening revenue visibility and investor confidence across major markets.
Competitive Landscape and Market Developments
Leading wind energy companies, including Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy and GE Vernova, continue to influence the competitive landscape through strategic partnerships, research and development, geographic expansion and cost-reduction initiatives. Industry competition remains focused on reducing the levelized cost of electricity while increasing turbine capacity, energy capture and installation efficiency.
Vestas reported revenue of €5.2 billion in the third quarter of 2024 and achieved a record combined backlog of €63.4 billion, demonstrating strong long-term demand. GE Vernova also recorded significant commercial momentum, securing USD 13.2 billion in orders during the fourth quarter of 2024. These results highlight sustained customer investment and a robust global wind project pipeline.
Wind Energy Market Growth Drivers
Government policies remain central to global wind energy investment. Feed-in tariffs, tax credits, renewable energy mandates and auction programs are improving project economics and encouraging developers and utilities to expand onshore and offshore wind portfolios. These measures are particularly important for projects requiring substantial upfront capital and long development timelines.
Corporate decarbonization commitments are also increasing demand for wind-generated electricity. Businesses seeking to reduce emissions and secure predictable long-term energy costs are entering renewable power purchase agreements, creating additional demand for utility-scale wind projects.
Technology and Investment Opportunities
The transition toward larger wind turbines represents a major market opportunity. Higher-capacity turbines with longer blades and taller hub heights can access stronger wind resources and generate more electricity per installation. These advances can reduce the number of turbines required to meet project capacity targets while optimizing installation, infrastructure and operating costs.
Modular blade designs, advanced materials, digital monitoring systems and predictive maintenance technologies are further improving turbine performance and lifecycle efficiency. Offshore projects are expected to remain a major area of investment as developers deploy turbines in deeper waters and more demanding marine environments.
Market Challenges
Transmission constraints remain a significant barrier to wind energy expansion. Many high-quality wind resources are located far from major urban and industrial demand centers, requiring substantial investment in transmission lines, subsea cables, interconnection capacity and grid reinforcement.
Delays in grid development can restrict electricity delivery, reduce project utilization and weaken investment returns. Coordinated planning among governments, grid operators, utilities and developers will be essential to support future wind capacity additions and maintain power-system reliability.
Wind Energy Market Segmentation
The offshore wind segment holds the largest revenue share by location, reflecting its high capital requirements and engineering complexity. Offshore development requires specialized foundations, underwater cabling, substations, installation vessels and long-term marine maintenance capabilities.
By application, the utility segment remains dominant. More than 88% of total installed wind capacity in 2025 was classified as utility-grade, confirming the importance of large-scale wind farms in global renewable energy infrastructure.
By Location
By Application
By Component
By Turbine Rating
Regional Market Outlook
Asia Pacific accounts for approximately 42% of the global wind energy market, supported by China's rapid capacity expansion under its 14th Five-Year Plan. In 2024, China connected nearly 76 GW of new wind capacity to the grid, representing an estimated 65% to 70% of global wind power additions during the year.
Chinese manufacturers such as Goldwind and MingYang Smart Energy have played a central role in this expansion. Their deployment of ultra-large wind turbines in the 16 MW to 18 MW range is supporting offshore development in challenging environments, including typhoon-prone coastal waters.
The regional analysis covers North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
Leading Wind Energy Market Participants
With expanding offshore development, larger turbine platforms, supportive government policies and growing corporate demand for renewable electricity, the global wind energy market is positioned for sustained growth through 2035. Continued investment in transmission infrastructure, grid modernization and supply-chain capacity will be critical to realizing the sector's full potential.
Key Attributes:
Key Topics Covered:
Chapter 1. Executive Summary: Global Wind Energy Market
Chapter 2. Report Description
2.1. Research Framework
2.1.1. Research Objective
2.1.2. Market Definitions
2.1.3. Market Segmentation
2.2. Research Methodology
2.2.1. Market Size Estimation
2.2.2. Qualitative Research
2.2.2.1. Primary & Secondary Sources
2.2.3. Quantitative Research
2.2.3.1. Primary & Secondary Sources
2.2.4. Breakdown of Primary Research Respondents, By Region
2.2.5. Data Triangulation
2.2.6. Assumption for Study
Chapter 3. Global Wind Energy Market Overview
3.1. Industry Value Chain Analysis
3.1.1. Raw Material Suppliers (Steel, Composites, Rare Earth Elements)
3.1.2. Component Manufacturers (Blades, Towers, Gearboxes, Generators)
3.1.3. Wind Turbine OEMs (Onshore & Offshore Turbine Producers)
3.1.4. Project Developers & EPC Contractors (Installation, Grid Connection)
3.1.5. End Users (Utilities, Independent Power Producers, Commercial & Industrial Consumers)
3.2. Industry Outlook
3.2.1. Rising Investments in Renewable Energy Capacity
3.2.2. Supportive Government Policies & Net-Zero Targets
3.2.3. Technology Trends (Larger Turbines, Floating Offshore, Digital Monitoring)
3.2.4. Expansion of Offshore & Emerging Market Projects
3.3. PESTLE Analysis
3.4. Porter's Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitutes
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Growth and Outlook
3.5.1. Market Revenue Estimates and Forecast (US$ Mn), 2020-2035
3.6. Market Attractiveness Analysis
3.6.1. By Product Type
3.7. Actionable Insights (Analyst's Recommendations)
Chapter 4. Competition Dashboard
4.1. Market Concentration Rate
4.2. Company Market Share Analysis (Value %), 2025
4.3. Competitor Mapping & Benchmarking
Chapter 5. Global Wind Energy Market Analysis
5.1. Market Dynamics and Trends
5.1.1. Growth Drivers
5.1.1.1. Supportive government policies and net-zero targets accelerating global wind power installations
5.1.2. Restraints
5.1.3. Opportunity
5.1.4. Key Trends
5.2. Market Size and Forecast, 2020-2035 (US$ Mn)
5.2.1. By Location
5.2.1.1. Key Insights
5.2.1.1.1. Onshore
5.2.1.1.2. Offshore
5.2.2. By Application
5.2.2.1. Key Insights
5.2.2.1.1. Utility
5.2.2.1.2. Non-Utility
5.2.3. By Component
5.2.3.1. Key Insights
5.2.3.1.1. Turbine
5.2.3.1.2. Support Structure
5.2.3.1.3. Electrical Infrastructure
5.2.3.1.4. Others
5.2.4. By Rating
5.2.4.1. Key Insights
5.2.4.1.1. ? 2 MW
5.2.4.1.2. >2? 5 MW
5.2.4.1.3. >5? 8 MW
5.2.4.1.4. >8?10 MW
5.2.4.1.5. >10? 12 MW
5.2.4.1.6. 12 MW
5.2.5. By Region
5.2.5.1. Key Insights
5.2.5.1.1. North America
5.2.5.1.1.1. The U.S.
5.2.5.1.1.2. Canada
5.2.5.1.1.3. Mexico
5.2.5.1.2. Europe
5.2.5.1.2.1. Western Europe
5.2.5.1.2.1.1. The UK
5.2.5.1.2.1.2. Germany
5.2.5.1.2.1.3. France
5.2.5.1.2.1.4. Italy
5.2.5.1.2.1.5. Spain
5.2.5.1.2.1.6. Rest of Western Europe
5.2.5.1.2.2. Eastern Europe
5.2.5.1.2.2.1. Poland
5.2.5.1.2.2.2. Russia
5.2.5.1.2.2.3. Rest of Eastern Europe
5.2.5.1.3. Asia Pacific
5.2.5.1.3.1. China
5.2.5.1.3.2. India
5.2.5.1.3.3. Japan
5.2.5.1.3.4. South Korea
5.2.5.1.3.5. Australia & New Zealand
5.2.5.1.3.6. ASEAN
5.2.5.1.3.7. Rest of Asia Pacific
5.2.5.1.4. Middle East & Africa
5.2.5.1.4.1. UAE
5.2.5.1.4.2. Saudi Arabia
5.2.5.1.4.3. South Africa
5.2.5.1.4.4. Rest of MEA
5.2.5.1.5. South America
5.2.5.1.5.1. Argentina
5.2.5.1.5.2. Brazil
5.2.5.1.5.3. Rest of South America
Chapter 6. North America Wind Energy Market Analysis
6.1. Market Dynamics and Trends
6.1.1. Growth Drivers
6.1.2. Restraints
6.1.3. Opportunity
6.1.4. Key Trends
6.2. Market Size and Forecast, 2020-2035 (US$ Mn)
6.2.1. By Location
6.2.2. By Application
6.2.3. By Component
6.2.4. By Rating
6.2.5. By Country
Chapter 7. Europe Wind Energy Market Analysis
7.1. Market Dynamics and Trends
7.1.1. Growth Drivers
7.1.2. Restraints
7.1.3. Opportunity
7.1.4. Key Trends
7.2. Market Size and Forecast, 2020-2035 (US$ Mn)
7.2.1. By Location
7.2.2. By Application
7.2.3. By Component
7.2.4. By Rating
7.2.5. By Country
Chapter 8. Asia Pacific Wind Energy Market Analysis
8.1. Market Dynamics and Trends
8.1.1. Growth Drivers
8.1.2. Restraints
8.1.3. Opportunity
8.1.4. Key Trends
8.2. Market Size and Forecast, 2020-2035 (US$ Mn)
8.2.1. By Location
8.2.2. By Application
8.2.3. By Component
8.2.4. By Rating
8.2.5. By Country
Chapter 9. Middle East & Africa Wind Energy Market Analysis
9.1. Market Dynamics and Trends
9.1.1. Growth Drivers
9.1.2. Restraints
9.1.3. Opportunity
9.1.4. Key Trends
9.2. Market Size and Forecast, 2020-2035 (US$ Mn)
9.2.1. By Location
9.2.2. By Application
9.2.3. By Component
9.2.4. By Rating
9.2.5. By Country
Chapter 10. South America Wind Energy Market Analysis
10.1. Market Dynamics and Trends
10.1.1. Growth Drivers
10.1.2. Restraints
10.1.3. Opportunity
10.1.4. Key Trends
10.2. Market Size and Forecast, 2020-2035 (US$ Mn)
10.2.1. By Location
10.2.2. By Application
10.2.3. By Component
10.2.4. By Rating
10.2.5. By Country
Chapter 11. Company Profiles (Company Overview, Company Timeline, Organization Structure, Key Product landscape, Financial Matrix, Key Customers/Sectors, Key Competitors, SWOT Analysis, Contact Address, and Business Strategy Outlook)
11.1. Acciona Energia
11.2. Brookfield Renewable Partners L.P.
11.3. E.ON SE
11.4. EDF Renewables
11.5. Enel Green Power S.p.A.
11.6. Enercon GmbH
11.7. Envision Energy
11.8. GE Vernova
11.9. Goldwind
11.10. Iberdrola, S.A.
11.11. Ming Yang Smart Energy Group Limited
11.12. NextEra Energy, Inc.
11.13. Nordex SE
11.14. Orsted A/S
11.15. RWE AG
11.16. Senvion S.A.
11.17. Siemens Gamesa Renewable Energy, S.A.
11.18. Suzlon Energy Ltd.
11.19. Other Prominent Players
Chapter 12. Annexure
12.1. List of Secondary Sources
12.2. Key Country Markets - Macro Economic Outlook/Indicators
A selection of companies mentioned in this report includes, but is not limited to:
For more information about this report visit https://www.researchandmarkets.com/r/c9376a
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