Onshore Wind Energy Market Size - By Component (Turbine, Support Structure, Electrical Infrastructure), By Turbine Rating (≤ 2 MW, >2 to 5 MW, >5 to 8 MW, >8 to 10 MW, >10 to 12 MW, > 12 MW) , 2025 – 2034

Onshore Wind Energy Market Size

The global onshore wind energy market size was valued at USD 112.1 billion in 2024 and is anticipated to reach USD 265.5 billion by 2034, growing at a CAGR of 10.3% from 2025 to 2034. Introduction of state-level renewable energy mandates and federal incentives along with strong government policies and increasing energy demand and renewable energy targets across developing economies will accelerate business growth.
 

Emerging markets in Brazil, Mexico, and Argentina, with favorable wind resources and supportive policies will enhance product deployment. Furthermore, investments in grid infrastructure to accommodate new wind capacity is set to strengthen the industry landscape. To cite an instance, WWEA, in 2023, stated Brazil to have the highest growth rate of 20.8% amongst the top ten wind markets.
 

Ongoing development of larger turbines with capacity exceeding 5 MW allows for greater energy capture and improved efficiency, stimulating the onshore wind energy market landscape. Additionally, Feed-in tariffs (FiTs) and power purchase agreements (PPAs) to guarantee revenue for wind energy producers will stimulate the product penetration. For example, Envision Energy India unveiled the 5 MW Onshore Platform at WindEnergy Hamburg 2024.
 

Continued decline in the cost of wind energy coupled with economies of scale in manufacturing and installation reducing overall costs will significantly proliferate the business growth. Further, integration of IoT, AI, and machine learning for real-time monitoring and predictive maintenance will strengthen the market landscape. According to DOE, nearly USD 10.8 billion of investments in new onshore plants was done in 2023.  
 

Onshore Wind Energy Market Trends

• Growing interest from investors and financial institutions in renewable energy projects and availability of green bonds and sustainable investment funds to finance the wind energy projects is set to influence the business landscape. According to WindEurope 2024, the EU-27 accounts for 231 GW of the total installed capacity, with 210 GW of onshore capacity.
   
• Streamlined permitting and regulatory processes to facilitate the development of wind projects is set to drive the product adoption. Policies promoting grid integration and addressing transmission infrastructure challenges along with setting ambitious targets for renewable energy adoption will drive the onshore wind energy market scenario. For instance, Ireland will deliver onshore wind energy projects at the lowest costs equating to approximately USD 41.7/MWh owing to strong regulatory support.  
   
• Partial repowering, in which major components of turbines are replaced provides access to favorable tax incentives, increasing the energy production with more advanced technology, and extended project life, thereby contributing to the market growth. According to DOE, nearly 0.6 GW of existing wind plants were partially repowered in 2023.
   

Onshore Wind Energy Market Analysis

• Based on Component, the market is segment into turbine, support structure, electrical infrastructure and others. The onshore wind energy industry amounted to USD 71.6 billion, USD 102.7 billion and USD 112.1 billion in 2022, 2023 and 2024 respectively.
   
• The turbine segment is set to reach more than USD 64 billion by 2034. Renewable energy targets and mandates require the deployment of efficient turbines to meet the sustainability goals, enhancing the product adoption. Ongoing advancements in turbine technology and grid integration solutions will enhance feasibility and efficiency, contributing to the onshore wind energy market.
   
• The support structure segment will grow at a CAGR of over 9% through 2034. It involves towers, foundation and anchor systems and maintenance support systems. The design of these structures varies depending on several factors such as site conditions, wind turbine size, and local environmental requirements. Towers support provide stability, durability, ease to transport and install, especially in remote areas or sites with limited infrastructure. The Cypress onshore wind turbine platform has grown from 4.8 MW to 6.1 MW.
   
• Growing demand for grid-compatible electrical systems, setting up of renewable energy targets across the economies and ongoing advancements, improving the efficiency and flexibility of electrical infrastructure will drive the business scenario. Further, High-quality electrical infrastructure ensures that wind power can be smoothly integrated with the grid, reducing the risk of power fluctuations and voltage issues. For instance, in 2024, RWE started the cable works between Lemvig onshore substation and beach south of Tuskær, to start operations by 2025.
   

• Based on turbine rating, the onshore wind energy market is segmented into ≤ 2 MW, >2≤5 MW, >5≤8 MW, >8≤10 MW, >10≤12 MW and >12 MW.  The >2≤ 5 MW segment accounted for over 32.8% market share in 2024 owing to utilization across projects where there are space constraints, specific energy needs, and grid capacity limitations.
   
• Key features including enhanced efficiency and power output and suitability for a wide range of wind conditions and site-specific requirements will drive the market scenario. Advanced control systems and software are optimizing turbine performance and reducing downtime. For instance, GE offers 2 MW platform and has over 5.5 GW installed globally, offering flexibility with rotor options to optimize performance across various wind conditions.
   
• >5≤8 MW turbines provide a good balance of cost and energy output, offering a competitive levelized cost of electricity (LCOE), thereby reducing the overall project costs, leading to product adoption. In addition, they are suitable for areas with moderate wind speeds driving product demand.
   
• The >8≤10 MW onshore wind turbines will grow at a CAGR of 9.5% till 2034 to enhance energy production efficiency. Growing technological advancements and ongoing developments leading to diversification and optimization of wind energy solutions will contribute to onshore wind energy market growth. For citation, Sany, in January 2024, introduced its 919 Platform featuring onshore wind turbines capable of generating between 8.5 to 11 MW, equipped with rotor diameters ranging from 214 m to 230 m.
   
• The >10≤12 MW segment is anticipated to grow owing to ability to deliver higher energy output per unit installed. These turbines are equipped with larger rotors and advanced technology that can harness wind more effectively, which is crucial for meeting the growing demand for renewable energy. To cite an instance, CRRC, in 2024, completed the hoisting of the company’s first 10 MW onshore wind turbine for the Desert and Gobi” wind power base project.
   
• The >12 MW segment will cross USD 11.5 billion by 2034 on account of declining installation costs for large project sizes. Growing economies of scale along with decrease in average capacity factors is set to augment the market growth. In April 2023, Goldwind introduced the GWH24X-12.X turbine, boasting a capacity of 12 MW, positioning it as one of the most powerful onshore turbines globally.
   

• The U.S. onshore wind energy market size surpassed USD 11.7 billion, USD 8.6 billion and USD 9.9 billion in 2022, 2023 and 2024 respectively. North America contributed nearly 8.6% market share in 2024 owing to introduction of federal incentives and long term improvements in cost and performance of wind power technologies. For instance, the 189 MW Timbermill Wind project, began commercial operations in 2024, with over 45 turbines across 6,000 acres of farmland.
   
• Asia Pacific onshore wind energy market is likely to exceed USD 176 billion by 2034 driven by government policies, increasing energy demand, and technological advancements. Strong government policies and subsidies primarily in countries including China will boost the product adoption. According to GWEC 2024, the total onshore wind capacity in the region could double to 1,084 GW within the decade, with another 122 GW of potential capacity from offshore wind by 2030.
   
• Government initiatives such as competitive bidding and Renewable Purchase Obligations (RPOs) in emerging economies including India will complement the industry landscape. Moreover, significant investments in new wind projects, particularly in South Australia and Victoria is set to strengthen the business scenario. For citation, the MacIntyre Wind Farm in Queensland, is anticipated to start the energy production at capacity 1,024 MW in 2024.
   
• Europe onshore wind energy market will grow more than 8% CAGR till 2034 owing to the major contribution of wind, nearly 20%, in electricity consumption. Growing adoption of onshore wind projects across the countries including Denmark, UK, France, Spain and Sweden will contribute to the market growth. According to Wind Europe, in 2024, 84% of the new wind capacity built in Europe last year was onshore.
   

Onshore Wind Energy Market Share

• Top 5 players operating in the industry include Vestas, Goldwind, GE Vernova, Nordex and Siemens Gamesa contributing 40% of the overall market share. The competitive landscape in the onshore wind industry is shaped by a mix of established multinational companies and emerging players.
   
• The industry is highly competitive with significant opportunities for growth driven by technological innovation, supportive policies, and increasing demand for clean energy. Further, growing interest in community-owned wind projects and smaller, distributed wind installations will contribute to the overall business scenario.
   

Onshore Wind Energy Market Companies

• Iberdrola is a global energy leader with the aim of reaching 100,000 MW of renewable installed capacity for future development. The company's total installed capacity will continue to grow with approximately 27 GW of new generation in its project pipeline.
   
• Nordex is a leading wind turbine OEM player, offering high-yield, cost-efficient wind turbines. The company recorded an overall sales of USD 7,595.5 Million in 2024, with an overall revenue of USD 7,285.1 Million. In addition, it entered in an agreement with Auren Energia to install 19 N163/5.X wind turbines for the 112 MW Cajuína 3 wind farm, scheduled for commission in 2026.
   
• CRRC is a leading Chinese wind power solutions supplier, with the product portfolio catering to  diverse power ratings, spanning 1.5 to 12 MW for onshore applications. The company has 20 manufacturing facilities and has equipped more than 260 wind farms with an overall capacity of over 13,000 Units. Further, the wind turbine blades, have a cumulative global supply exceeding 22,000 sets, securing a top-three market share worldwide.
   

Eminent players operating in the onshore wind energy market are:

• CRRC
• CSSC Haizhuang Wind Power
• Envision Group
• Goldwind
• GE Vernova
• Iberdrola
• Nordex
• Siemens Gamesa Renewable Energy
• United Power
• Vestas
• Windey Energy Technology Group
   

Onshore Wind Energy Industry News

• In February 2025, Iberdrola through its U.S. company Avangrid, installed the capacity of nearly 10,500 MW in the country. It has assets in 24 states and is capable of supplying approximately 3.1 million average households. It will further provide key economic benefits to communities, supporting more than 500 permanent jobs and paying more than USD 50 million in property taxes in 2024.
   
• In January 2025, Vestas received a 384 MW order for the second phase of DTEK’s Tyligulska project in Ukraine. This adds to the 114 MW Tyligulska I order which the company successfully commissioned in the spring of 2023. The company will supply 64 wind turbines and is responsible for the supply, delivery, and commissioning of the turbines. In total, the first and second phase of the project will have a capacity of 498 MW, with a total of 83 V162-6.2 MW wind turbines in 6.0 MW operating mode, making it the largest wind energy project in the country.
   
• In July 2024, Iberdrola began with initial construction work on a wind farm in the northern Spain. The El Escudo wind farm will have a capacity of 101 MW and will generate energy equivalent to the annual consumption of 95,300 homes, thereby avoiding emission of 45,000 tonnes of CO2 per year. Further, the onshore farm involves BIM (Building Information Modelling) technology, allowing detailed control of the work execution.
   
• In January 2024, Sany unveiling the latest 919 Platform. The onshore wind turbine can generate 8.5 MW to 11 MW of energy and is equipped with rotor diameters ranging from 214 m to 230 m through different combinations. Further, designed as a modular system, it significantly increases the reliability and efficiency of research and development, contributing to the company’s sustainability goals.
   

This onshore wind energy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Million & MW” from 2021 to 2034, for the following segments:

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Market, By Turbine Rating

• ≤ 2 MW
• >2 to 5 MW
• >5 to 8 MW
• >8 to 10 MW
• >10 to 12 MW
• > 12 MW

Market, By Component

• Turbine
  • Tower
  • Blades
  • Others
• Support Structure
  • Substructure Steel
  • Foundation
  • Others
• Electrical Infrastructure
  • Wires & Cables
  • Substation
  • Others
• Others

The above information has been provided for the following countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Netherlands
  • Sweden
  • France
  • UK
  • Finland
  • Poland
  • Spain
  • Italy
  • Austria
  • Ireland
  • Belgium
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
• Rest of World