Onshore Wind Turbine Market Size - By Axis (Horizontal [HAWTs], Vertical [VAWTs]), By Connectivity (Grid connected, Standalone), By Rating (> 500 kW to 1 MW, >1 MW - 3 MW, >3 MW), By Component (Rotor, Nacelle, Tower), Regional Outlook & Forecast, 2024 – 2032

Onshore Wind Turbine Market Size

The global onshore wind turbine market was valued at USD 125.8 billion in 2023 and is estimated to grow at a CAGR of 6.5% from 2024 to 2032. It is a type of wind turbine that is installed on land (as opposed to offshore turbines, which are in bodies of water). These turbines harness wind energy to generate electricity, contributing to renewable energy production and reducing reliance on fossil fuels.
 

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Increasing installed capacity of onshore wind turbines along with growing renewable energy targets will drive the industry scenario. Advances in turbine design, such as larger rotor diameters and higher hub heights, will increase efficiency and energy capture, contributing to the product demand. Further, many governments are implementing supportive policies, including tax credits, feed-in tariffs, and renewable energy targets, to encourage the development of onshore wind projects.
 

Setting ambitious renewable energy targets as a part of their commitment to the Paris Agreement will drive the expansion of onshore wind capacity. Corporations are signing long-term PPAs with wind developers to secure renewable energy, enhancing the financial viability of new projects, contributing to the business momentum. Additionally, growing awareness of climate change and environmental issues will shift focus to renewable energy projects, including onshore wind farms, thereby driving the industry outlook.
 

Onshore Wind Turbine Market Trends

Ongoing adoption of digital technologies, including IoT and AI, is enhancing turbine performance and maintenance, allowing for predictive analytics to optimize energy production will stimulate the business statistics. Increasing technological improvements and economies of scale will reduce the technology cost, thereby strengthening the product penetration. Shifting focus toward community owned wind projects, allowing local stakeholders to invest in and benefit from renewable energy projects, will lead to market growth.
 

Onshore Wind Turbine Market Analysis

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Based on product, the grid connected segment is anticipated to cross over USD 197.5 billion by 2032, owing to technological advancements, policy support, and a growing emphasis on renewable energy to combat climate change. Many countries are expanding their grid-connected onshore wind capacity as part of their renewable energy targets. Grid-connected onshore wind turbines are increasingly participating in energy markets, providing power directly to the grid, leading to market growth. Furthermore, Modern turbines are equipped with advanced control systems that allow for real-time data monitoring and grid management, which helps optimize performance and maintain grid stability, additionally driving the business scenario.
 

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Based on rating, the > 1 MW to 3 MW segment is set to grow at a CAGR of over 7% through 2032, owing to cost-effectiveness, efficiency, and suitability for various site conditions. Increasing adoption in smaller projects along with growing flexibility in utilization across both rural and semi-urban settings will foster the product adoption. Innovations in turbine design, such as improved aerodynamics and blade materials, are increasing the efficiency of 1-3 MW turbines, enabling them to generate more energy at lower wind speeds. Moreover, the levelized cost of energy for onshore wind has decreased significantly, making the medium rated turbines more financially attractive, contributing to the business momentum.
 

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Europe onshore wind turbine market is projected to surpass USD 74.5 billion by 2032, owing to its expanding wind capacity to meet the EU’s target of becoming climate neutral by 2050. New onshore installations in Germany, Spain, and France along with growing adoption across countries including Poland & Romania will boost the industry landscape. Repowering, of old turbines with modern, more efficient models, is gaining momentum, especially in countries like Germany and Denmark, which have aging onshore wind fleets. This will support high energy output without new land use, appealing to countries with limited space for new projects, driving the market growth. European developers are adopting larger and more efficient turbines to maximize energy yield per site.
 

Furthermore, the operators are increasingly implementing digital monitoring, AI-driven maintenance, and predictive analytics to improve turbine performance and reduce downtime, thereby driving the business outlook.
 

Onshore Wind Turbine Market Share

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The onshore wind turbine industry is highly competitive, characterized by technological innovation, diverse regional players, and strategic partnerships. Companies are competing to develop larger, more efficient turbines that maximize energy yield per turbine. Large players with extensive manufacturing and supply networks, like Vestas and Goldwind, continue to offer competitive pricing. Collaborations with utility companies, governments, and EPCs are crucial to secure large-scale projects and maintain market presence. It is further shaped by innovation, regional specialization, cost-effectiveness, and strong alignment with global sustainability trends.
 

Onshore Wind Turbine Market Companies

Eminent players operating in the onshore wind turbine industry are:

• Envision Energy
• GE Vernova
• Goldwind
• Hitachi Energy
• Mingyang Smart Energy
• Nordex Group
• Siemens Gamesa Renewable Energy
• Shanghai Electric
• Senvion
• Vestas
   

Onshore Wind Turbine Industry News

• In January 2024, GE Vernova entered in an agreement to supply the 6.0-164 workhorse turbine for 1.4 GW of onshore wind project across three sites in Australia. Further, Squadron Energy entered into a USD 2.75 billion green strategic alliance for wind turbine supply with GE Vernova. This will enable the companies to build on their existing strong relationship for the efficient delivery of the projects.
   
• In September 2024, Vestas entered into an agreement with Invenergy to install 32 units of V117-4.2 MW onshore wind turbines in Japan. The deliveries are anticipated to begin in H1 of 2027 with commissioning in Q1 of 2028.
   

This onshore wind turbine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “(USD Billion & MW)” from 2021 to 2032, for the following segments:

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Market, By Axis

• Horizontal [HAWTs]
• Vertical [VAWTs]

Market, By Connectivity

• Grid connected
• Standalone

Market, By Rating

• > 500 kW to 1 MW
• >1 MW to 3 MW
• > 3 MW

Market, By Component

• Rotor Module
• Nacelle Module
• Tower Module

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • Spain
  • UK
  • France
  • Italy
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
• Middle East & Africa
  • Egypt
  • South Africa
• Latin America
  • Brazil
  • Mexico
  • Argentina