Wind Energy Market to Reach $218.46 Bn by 2032, Expanding at 7% CAGR

The wind energy market is experiencing unprecedented growth, driven by technological advancements, supportive government policies, and an increasing emphasis on sustainable energy solutions. According to a recent report by Maximize Market Research, the market was valued at USD 127.14 billion in 2024 and is projected to reach nearly USD 218.46 billion by 2032, expanding at a compound annual growth rate (CAGR) of 7% from 2025 to 2032.

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► Competitive Landscape

The wind energy sector is characterized by the presence of several key players striving for market dominance. Notable companies include Acciona Energia SA, Orsted AS, EDF SA, General Electric Company, and Siemens Gamesa Renewable Energy. These organizations are actively engaged in expanding their portfolios and enhancing their technological capabilities to meet the growing global demand for wind energy. ​

► Regional Insights

• United States: Growth and Consolidation

In the United States, the wind energy market is witnessing significant expansion, bolstered by legislative measures such as the Inflation Reduction Act of 2022 and the Infrastructure Investment and Jobs Act. These policies have allocated substantial funds for energy and climate change initiatives, including tax credits and support for domestic manufacturing of wind energy components. ​

• Asia Pacific: Opportunities and Trends

The Asia Pacific wind power market is projected to register a CAGR of less than 10.45% during the forecast period. Key players such as Acciona Energia SA, Orsted AS, EDF SA, General Electric Company, and Siemens Gamesa Renewable Energy are actively contributing to this growth through strategic investments and technological advancements.

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• Middle East and Africa: Expansion and Updation

In the Middle East, companies like Masdar are making significant strides in the wind energy sector. Masdar has announced plans to increase its wind and solar capacity to 100 gigawatts by 2030, aiming to become one of the world's largest renewable energy companies. This ambitious target includes securing deals in Europe and the United States, reflecting a strategic focus on expanding their global footprint. ​

• Europe: Trends and Consolidation

Europe continues to be a hub for wind energy development, with substantial investments and mergers shaping the market. For instance, Brookfield acquired a 12.45% stake in Orsted's UK offshore wind farms for $2.3 billion, highlighting the region's attractiveness for investors. Additionally, companies are focusing on offshore wind projects to capitalize on Europe's favorable wind conditions and supportive regulatory environment.

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► Market Segmentation: In-Depth Analysis:

• by Type

Offshore
Onshore

The market is divided into two segments: onshore and offshore. Throughout the forecast period, the onshore category is anticipated to maintain its dominant market position in the wind energy industry, which it did in 2024. Ninety-three percent of the 900 GW of installed wind capacity in 2024 came from onshore systems, with offshore wind farms accounting for the remaining seven percent. Offshore wind is still in its infancy, with capacity created in just 20 nations, but onshore wind technology has gained widespread adoption and is currently in operation in 115 countries worldwide. However, as additional nations begin the planning or development stages of their first offshore wind projects, the reach of offshore wind is anticipated to grow over the next several years.

• by End User

Industrial
Commercial
Residential

For deeper market insights, peruse the summary of the research report:https://www.maximizemarketresearch.com/market-report/wind-energy-market/11271/

► Learn about the top players driving innovation in the Market :

• North America:
1. Vestas Wind Systems A/S: Aarhus, Denmark
2. General Electric Renewable Energy: Schenectady, New York, USA
3. Siemens Gamesa Renewable Energy: Zamudio, Spain
4. NextEra Energy Resources: Juno Beach, Florida, USA
5. EDF Renewables: Paris, France
6. AES Corporation: Arlington, Virginia, USA

• Europe:
7. Ørsted A/S: Fredericia, Denmark
8. Enel Green Power : Rome, Italy
9. RWE Renewables : Essen, Germany
10. Nordex Group: Hamburg, Germany
11. Iberdrola Renewables: Bilbao, Spain
12. EDP Renováveis: Lisbon, Portugal

• Asia-Pacific:
13. Goldwind : Beijing, China
14. Ming Yang Smart Energy : Zhongshan, China
15. China Energy Investment Corporation : Beijing, China
16. Suzlon Energy Limited: Pune, India
17. Hyundai Heavy Industries Co., Ltd.: Ulsan, South Korea
18. Envision Energy: Shanghai, China

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► About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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