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North America Wind Turbine Market Trends

Report ID: GMI9489
Published Date: May 2024
Report Format: PDF

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North America Wind Turbine Market Trends

Federal, state, and provincial governments in North America have implemented policies and incentives to support the development of wind turbines and wind energy projects. Further, these policies include production tax credits, investment incentives, renewable portfolio standards, and other mechanisms designed to encourage investment in wind power and promote its integration into the electricity grid. Furthermore, growing economies of scale, with multiple turbines grouped together to maximize energy production and grid integration.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

North America wind turbine market size was USD 24.04 billion in 2023 and is expected to register 5.7% CAGR from 2024-2032 owing to the rapid advances in materials, manufacturing processes, aerodynamics, and digitalization of wind turbines in the region.

The horizontal segment is expected to reach over USD 38.1 billion by 2032 due to growing deployment in large scale utility projects, including onshore wind farms and offshore wind installations.

The U.S. wind turbine industry is expected to record over USD 31.7 billion by 2032 due to growing implementation of policies and incentives to promote renewable energy development in the country.

Goldwind Americas, NORDEX SE, Suzlon Energy Limited, Siemens Gamesa Renewable Energy, S.A., Senvion, Vestas, Envision Group, General Electric, ReGen Powertech, and ATB GROUP S.p.A., are some of the major wind turbine companies in North America.