Innovative Wind Turbine Revolutionize Onshore Wind Energy Trend: A Crucial Influence on the Onshore Wind Energy Market's Transformation in 2025

"What Is the Expected Size and Growth Rate of the Onshore Wind Energy Market?
Over the past few years, the onshore wind energy market size has shown robust growth. It's projected to expand from $54.27 billion in 2024 to $57.46 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.9%. The surge previously witnessed can be ascribed to escalating environmental worries, government initiatives and policies that promote renewable energy, cost-curbing technological progress, increased electricity demand, a hike in fossil fuel prices, collaborations between public and private sectors, and efforts to diversify energy sources.

Prospects for the onshore wind energy market size indicate robust growth in the coming years, expected to reach a volume of $71.53 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 5.6%. The forecasted growth can be ascribed to factors such as increased investment in renewable energy facilities, corporate efforts towards sustainability, growing energy requirements in developing economies, favorable policy regulations and carbon pricing systems, advancement in the integration of grid and storage technologies, and the necessity to meet climate change mitigation objectives. Prominent trends during the forecast period include the incorporation of high-tech solutions, recyclable turbine materials, hybrid energy systems, advancements in grid connectivity for better energy distribution, and ongoing technological development.

What Factors Are Fueling Growth in the Onshore Wind Energy Market?
The onshore wind energy market is projected to grow as electricity demand continues to rise. This increased need for electricity is triggered by escalating urbanization, advancements in technology, and a heightened dependence on electronic gadgets and industrial processes. Onshore wind energy plays a significant part in producing electricity by offering a renewable, affordable, and sustainable energy source that reduces our dependency on fossil fuels. For example, data from the Energy Information Administration (EIA), a U.S-based government agency, in December 2023 indicated that total U.S. end-use electricity consumption increased by roughly 3.2% when compared to 2021. Retail sales of electricity saw a rise of around 2.6% in the residential sector and a 4.7% increase in the commercial sector. Thus, the rising demand for electricity propels the growth of the onshore wind energy market.

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Which Leading Companies Are Shaping the Growth of the Onshore Wind Energy Market?
Major companies operating in the onshore wind energy market are Iberdrola S.A., Duke Energy, NextEra Energy Resources, Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, Enel Green Power S.p.A., Sungrow Power Supply Co Ltd, Pattern Energy Group Inc., Canadian Solar Inc., Nordex Group, Enercon GmbH, Brookfield Renewable Partners, Enphase Energy, TransAlta Corp, Renewable Energy Systems (RES), Invenergy, Clearway Energy, Boralex Inc, Mainstream Renewable Power, Apex Clean Energy, Cypress Creek Renewables, Windlab Ltd, Gazelle Wind Power Limited, Vortex Bladeless Ltd

What Are the Major Trends Shaping the Onshore Wind Energy Market?
Leading companies in the onshore wind energy market are working on the development of onshore wind turbines to boost efficiency, streamline wind resource management, and increase overall power generation. Onshore wind turbines, which are commonly located in wind farms, are land-based systems that produce electricity by drawing on wind power. For example, in April 2023, Goldwind, a manufacturer of wind turbines based in China, introduced two novel turbine models, the GWH221-8.X-10 and the GWH24X-12.X. The latter, forecasted to have a capacity of 12 Megawatts (MW), is set to become the biggest onshore wind turbine, overtaking even the largest offshore turbines like GE's 14 MW Haliade-X. This milestone was achievable with backing from the Chinese government and industry collaborators, enabling Goldwind to enhance its technology further. Now, Goldwind holds the fourth rank worldwide in the installed wind energy capacity, with a dominant foothold in China and projects spanning across various continents.

What Are the Key Segments of the Onshore Wind Energy Market?
The onshore wind energymarket covered in this report is segmented -

1) By Product Type: Less Than 500 Kilowatt (KW), 500 Kilowatt (KW) To 2 Megawatt (MW), More Than 2 Megawatt (MW)
2) By Wind Capacity: High Wind Speed, Medium Wind Speed, Low Wind Speed
3) By Grid Connectivity: Off Grid, On Grid
4) By Application: Peak Power Management, Power Storage, Demand Response, Frequency Response, System Stability
5) By End User: Utilities, Commercial And Industrial, Hybrid Power

Subsegments:
1) Less Than 500 Kilowatt (KW): Small Residential Wind Turbines, Small Commercial Wind Turbines, Off-Grid Wind Turbines
2) 500 Kilowatt (KW) To 2 Megawatt (MW): Medium-Sized Commercial Wind Turbines, Industrial Wind Turbines, Community Wind Turbines
3) More Than 2 Megawatt (MW): Large Utility-Scale Wind Turbines, Offshore-Adapted Onshore Turbines, High Capacity Industrial Wind Turbines

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Which Region Dominates the Onshore Wind Energy Market?
North America was the largest region in the onshore wind energy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the onshore wind energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Onshore Wind Energy Global Market Report?

- Market Size Analysis: Analyze the Onshore Wind Energy Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Onshore Wind Energy Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Onshore Wind Energy Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Onshore Wind Energy Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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