Top Factor Driving Onshore Wind Energy Market Growth in 2025: Rising Electricity Demand Drives Growth In Onshore Wind Energy

What combination of drivers is leading to accelerated growth in the onshore wind energy market?
The surge in electricity demand is anticipated to fuel the expansion of the onshore wind energy market in the future. The persistent high demand for electricity arises from growing urbanization, technological progress, and an increased dependence on electronic devices and industrial procedures. Onshore wind energy plays a significant part in electricity production by offering a renewable, economical, and sustainable power solution that minimizes dependence on fossil fuels. For example, the Energy Information Administration (EIA), a federal agency based in the US, reported that in December 2023, the total electrical end-use consumption in the U.S. increased by roughly 3.2% compared to 2021. Electricity sales in retail rose by approximately 2.6% in the residential sector, and by 4.7% in the commercial sector. Hence, the rising demand for electricity is promoting the expansion of the onshore wind energy market.

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What is the projected compound annual growth rate (CAGR) of the onshore wind energy market from 2025 to 2034, and what factors influence it?
The market size for onshore wind energy has seen significant expansion lately. The market, which is projected to escalate from $54.27 billion in 2024 to $57.46 billion in 2025, attains a compound annual growth rate (CAGR) of 5.9%. The historical period's growth is a result of heightened environmental awareness, governmental support and policies favoring renewable energy, technological developments that cut down costs, an increased need for electricity, escalating costs of fossil fuels, collaborations between private and public sectors, and the pressure to diversify energy sources.

The market size of onshore wind energy is projected to experience robust growth in the upcoming years, with an estimated worth of $71.53 billion by 2029, corresponding to a compound annual growth rate (CAGR) of 5.6%. The anticipated expansion during the forecast period is linked to several factors such as increased investment in renewable energy infrastructure, a rise in corporate sustainability efforts, growing energy requirements from developing economies, favorable regulations and carbon pricing mechanisms, progress in grid integration and storage technologies, and the imperative to meet climate change reduction targets. The foreseeable future will additionally witness significant trends including the incorporation of cutting-edge technologies, recyclable turbine materials, hybrid energy systems, solutions for grid connectivity to aid energy distribution, and technological advancements.

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How are the latest trends influencing the growth of the onshore wind energy market?
Prominent firms active in the domain of onshore wind energy are working towards improving turbine efficiency, perfecting wind resource management, and boosting overall energy output. Onshore wind turbines, which are typically located in wind farms, produce electricity by capturing wind energy. In April 2023, Goldwind, a wind turbine producer based in China, introduced two new models, the GWH221-8.X-10 and the GWH24X-12. The GWH24X-12.X, which is expected to have a capacity of 12 megawatts (MW), is set to outshine even the biggest offshore turbines like GE's 14 MW Halliade-X, thus becoming the largest onshore wind turbine. This significant advancement was facilitated by support from the Chinese government and industry associates, which has helped Goldwind refine its technology. Presently, Goldwind holds the fourth rank worldwide in terms of installed wind energy capacity, with a substantial footfall in China and ongoing projects spanning numerous continents.

What are the major segments of the onshore wind energy market and their role in driving growth?
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 regions are key players in the growth of 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.

Who are the key firms paving the way for growth in 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

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

•Market Size Forecast: Examine the onshore wind energy market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the onshore wind energy market for a structured understanding.
•Key Players Overview: Analyze major players in the onshore wind energy market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the onshore wind energy market.
•Segment Contributions: Evaluate how different segments drive overall growth in the onshore wind energy market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the onshore wind energy market.
•Industry Challenges: Identify potential risks and obstacles affecting the onshore wind energy market.
•Competitive Landscape: Review strategic developments in the onshore wind energy market, including expansions, agreements, and new product launches.

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