Wind Turbine Market Size

Wind Turbine Market Size

The global wind turbine market was valued at USD 151.8 billion in 2024 and is estimated to grow at a CAGR of 7.4% from 2025 to 2034. A wind turbine is a device that converts the kinetic energy of wind into mechanical energy, which can then be used to generate electrical power. The primary purpose of wind turbines is to harness the energy from moving air (wind) and transform it into usable electricity, providing a renewable source of energy that helps reduce dependence on fossil fuels and mitigate climate change.

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Many large corporations are committing to 100% renewable energy goals, and wind energy is often a key part of achieving these objectives contributing to the business momentum. Investors are increasingly interested in green energy projects, including wind farms coupled with rise of green bonds and other financing mechanisms is making capital more readily available for wind energy projects, driving the business scenario. Furthermore, companies are working to mitigate these concerns through environmental assessments, technological solutions and improved community outreach, driving the market growth.

Increasing integration of wind with storage and the growing corporate interest in sustainability will continue to fuel market growth, making wind energy a central pillar of global decarbonization efforts. Growing demand for wind energy projects that are environmentally sustainable is growing, leading developers to seek certifications like LEED or BREEAM for their projects, ensuring that wind farms are built with sustainable practices, stimulating the product adoption. In addition, many countries have set ambitious renewable energy targets, including wind as a primary source for meeting these goals, leading to business expansion.