Onshore Wind Turbine Market Poised to Hit $66.84 Billion by 2029 with Accelerating Growth Trends

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Onshore Wind Turbine Market Size Growth Forecast: What to Expect by 2025?
In recent years, the market size of onshore wind turbines has experienced a significant increase. It is set to grow from $50.73 billion in 2024 to $53.71 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.9%. The historic period's growth can be credited to several factors such as increased government subsidies and incentives, growing energy requirements, heightened environmental consciousness, regulatory backing for renewable energy sources, reduction in the costs associated with wind power production, and the development of wind power infrastructure.

How Will the Onshore Wind Turbine Market Size Evolve and Grow by 2029?
The forecast for the onshore wind turbine market size projects a robust expansion in the coming years, with its worth anticipated to reach $66.84 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 5.6%. The surge during the forecast period is attributable to the enhanced emphasis on counteracting climate change, proliferation of green energy requirements, advancements in grid assimilation capabilities, escalating investments in renewably-sourced energy infrastructure, and the production of large wind turbine models that are more efficient. Significant trends for the forecast period encompass an enhanced uptake of cutting-edge turbine technology for boosted efficiency, the creation of more robust and sizeable turbine models, pairing wind power with energy storage solutions, a heightened attention towards eco-friendly and sustainable manufacturing procedures, and further integration with grid infrastructure.

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What Drivers Are Propelling the Growth of Onshore Wind Turbine Market Forward?
The expansion of the onshore wind turbine market is anticipated to be fueled by the rising need for renewable energy. Renewable energy, sourced from self-replenishing natural resources like sunlight and wind, plays a pivotal role in reducing greenhouse gas emissions, battling climate change, and ensuring the provision of clean energy. Various factors such as environmental issues, the exhaustion of fossil fuels, and technological advancements are fueling the growth in demand for renewable energy. Onshore wind turbines are instrumental in capturing wind energy to generate renewable electricity, reducing greenhouse gas emissions and the reliance on fossil fuels. The versatility in their design allows them to be installed at multiple locations, enhancing grid stability and supplementing other renewable energy sources. For example, data from the International Trade Administration, a US government agency, reveals that in June 2023, the country's peak demand skyrocketed to a new high of 223 gigawatts (GW), indicating a 3.4% rise compared to the highest demand in 2022. The projection also shows a likely ongoing surge in usage. Therefore, the growing demand for renewable energy is a key driver in propelling the onshore wind turbine market's growth.

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Which Emerging Trends Are Transforming the Onshore Wind Turbine Market in 2025?
Companies leading the market for onshore wind turbines are primarily focused on the innovation of solutions like land-based turbines to increase structural efficiency and optimize renewable energy output. Land-based turbines, established on solid land, harness wind energy and convert it into electrical power, playing a crucial role in renewable energy production at terrestrial wind farms. For example, in January 2023, Mingyang Smart Energy, a wind turbine manufacturer from China, installed the Myse 8.5-216, one of the world's largest onshore wind turbines. This turbine, with a rotor diameter of 216 meters and a rated capacity of 8.5 megawatts, produces approximately 200,000 kWh of electricity per day. With this output, the turbine is a perfect fit for large wind farms. The Myse 8.5-216 can operate in harsh conditions like deserts, withstanding sandy and extremely hot environments. The turbine's vital components, including the motor and high-performance blades, are subjected to stringent testing both in-house and by third parties to ensure their durability and peak performance under various conditions.

What Are the Key Segments in the Onshore Wind Turbine Market?
The onshore wind turbinemarket covered in this report is segmented -

1) By Axis: Horizontal Axis, Vertical Axis
2) By Size: Small Scale, Medium Scale, Large Scale
3) By Technology: Electrically Excited Synchronous Generator, Permanent Magnet Synchronous Generator
4) By Capacity: Less Than 1 Megawatt (MW), 1 Megawatt (MW) To 3 Megawatt (MW), More Than 3 Megawatt (MW)

Subsegments:
1) Horizontal Axis: Upwind Turbines, Downwind Turbines, Variable Pitch Turbines
2) Vertical Axis: Darrieus Turbines, Savonius Turbines, Helical Turbines

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Who Are the Key Players Shaping the Onshore Wind Turbine Market's Competitive Landscape?
Major companies operating in the onshore wind turbine market are Hitachi Ltd., GE Vernova Inc., Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy S.A.U., Pattern Energy, Nordex SE, Dongfang Electric Corporation, ENERCON Global GmbH, EDF Renewables SA, Suzlon Energy Limited, ReGen Powertech Pvt. Ltd., Envision Energy USA Limited, Sinovel Wind Group Co. Ltd., Emergya Wind Technologies B.V, M.Torres Ólvega Industrial S.L., Inox Wind Ltd., Leitwind Shriram Manufacturing Ltd., Northern Power Systems Inc., XZERES Corp., Doosan Power Systems India Pvt Ltd., Bergey Windpower Co., Senvion GmbH

What Geographic Markets Are Powering Growth in the Onshore Wind Turbine Market?
North America was the largest region in the onshore wind turbine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the onshore wind turbine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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