Wind Energy Market Anticipated to Grow at 11.3 CAGR Through 2029: Industry Report

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The Business Research Company's Wind Energy Market Anticipated to Grow at 11.3 CAGR Through 2029: Industry Report

LONDON, GREATER LONDON, UNITED KINGDOM, September 18, 2025 /EINPresswire.com/ -- "Get 30% Off All Global Market Reports With Code ONLINE30 – Stay Ahead Of Trade Shifts, Macroeconomic Trends, And Industry Disruptors

How Big Is The Wind Energy Market In 2025?
The size of the wind energy market has witnessed a swift expansion in past years. From the value of $126.77 billion in 2024, it is set to surge to $139.68 billion in 2025, illustrating a compound annual growth rate (CAGR) of 10.2%. The upswing observed in the historic period is mainly due to the development of new markets, escalated demand for sustainable energy sources, profound environmental implications of traditional power generation sources, and escalating fuel prices.

The wind energy sector is set to experience a swift expansion in the coming years. The market is projected to reach $213.98 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 11.3%. The anticipated growth over the forecasting span is due to factors such as rising global population and urbanization, escalated demand for electricity, and heightened focus on renewable sources of energy. The forecast period is likely to see trends like a blend of wind and solar energy systems, automated inspection with robots, wind turbines that can be recycled, the application of artificial intelligence, expansion of new plants, along with product advancements, partnerships, and mergers.

Download a free sample of the wind energy market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8772&type=smp

What Are The Key Driving Factors For The Growth Of The Wind Energy Market?
Greater adoption of renewable energy sources is expected to fuel the wind energy market. Renewable energy, derived from naturally replenishing sources, is increasingly demanded as it provides clean and affordable alternatives. For example, in June 2022, the U.S. Energy Information Administration reported that biomass supplied about 5 quadrillion Btu, or 5% of total U.S. energy in 2021. Of this, 2,316 TBtu came from biofuels (mainly ethanol), 2,087 TBtu from wood and wood-derived biomass, and 431 TBtu from municipal solid waste, manure, and crop residues. Thus, rising renewable adoption is driving the wind energy market.

Who Are The Key Players In The Wind Energy Industry?
Major players in the Wind Energy include:

• Siemens Energy AG
• Xinjiang Goldwind Science & Technology Co. Ltd
• General Electric Company
• Vestas Wind Systems A/S
• Nordex SE
• Enercon GmbH
• China Ming Yang
• Suzlon Energy Ltd.
• Dongfang Electric Corporation Limited
• ABB Limited

What Are The Key Trends Shaping The Wind Energy Industry?
Innovations in technology are an emerging trend in the wind energy sector. Prominent businesses in the wind energy sector are producing technologically superior products to retain their market position. For instance, in July 2022, WEG Industries, an electric engineering firm based out of Brazil, introduced a novel wind turbine platform equipped with Medium-Speed Geared (MSG) drive technology and a 7 MW capacity and a 172-meter rotor diameter. This platform's unique qualities promotes easy electrical grid integration and compliance with different regional grid codes as it comes with a full power drive. Even in the absence of wind, the platform can generate reactive power, offering additional benefits aside from power production. The re-imagined design also includes modular components like a taller tower to enhance logistical processes and provide simpler assembly instructions, particularly in uneven terrain.

What Segments Are Covered In The Wind Energy Market Report?
The wind energymarket covered in this report is segmented –

1) By Turbine Type: Horizontal Axis, Vertical Axis
2) By Component: Turbine, Support Structure, Electrical Infrastructure, Other Components
3) By Location: Onshore, Offshore
4) By Application: Utility, Non-Utility

Subsegments:
1) By Horizontal Axis Turbine (HAT): Small Horizontal Axis Turbines, Medium Horizontal Axis Turbines, Large Horizontal Axis Turbines
2) By Vertical Axis Turbine (VAT): Darrieus Vertical Axis Turbines, Savonius Vertical Axis Turbines

View the full wind energy market report:
https://www.thebusinessresearchcompany.com/report/wind-energy-global-market-report

Which Region Is Expected To Lead The Wind Energy Market By 2025?
In 2024, the Asia-Pacific led the wind energy market. It is anticipated that North America will witness the most rapid growth in the forecast period. The wind energy market report encompasses regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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