What are the recent trends in market size and growth for the onshore wind energy market?
The onshore wind energy market size has grown strongly in recent years. It will grow from $54.27 $ billion in 2024 to $57.46 $ billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increasing environmental concerns, government incentives and policies supporting renewable energy, technological advancements reducing costs, growing demand for electricity, rising fossil fuel prices, public-private partnerships, the need to diversify energy sources.
The onshore wind energy market size is expected to see strong growth in the next few years. It will grow to $71.53 $ billion in 2029 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rising investments in renewable energy infrastructure, growing corporate sustainability initiatives, increasing energy demands from emerging economies, supportive regulations and carbon pricing mechanisms, advancements in grid integration and storage technologies, need to achieve climate change mitigation goals. Major trends in the forecast period include the integration of advanced technologies, recyclable turbine materials, hybrid energy systems, grid connectivity solutions to support energy distribution and technological evolution.
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How have varous drivers impacted the growth of the onshore wind energy market?
The increasing electricity demand is expected to propel the growth of the onshore wind energy market going forward. The continuous high demand for electricity is driven by increasing urbanization, technological advancements, and the growing reliance on electronic devices and industrial processes. Onshore wind energy plays a crucial role in electricity generation by providing a renewable, cost-effective, and sustainable power source that reduces reliance on fossil fuels. For instance, in December 2023, according to the Energy Information Administration (EIA), a US-based federal agency, total U.S. electricity end-use consumption rose by approximately 3.2% compared to 2021. Retail electricity sales increased by about 2.6% for the residential sector and by 4.7% for the commercial sector. Therefore, the increasing electricity demand is driving the growth of the onshore wind energy market.
What are the primary segments of the onshore wind energy market?
The onshore wind energymarket covered in this report is segmented –
1) By Product Type: Less Than 500 Kilowatt (KW), 500 Kilowatt (KW) To 2 Megawatt (MW), More Than 2 Megawatt (MW)
2) By Wind Capacity: High Wind Speed, Medium Wind Speed, Low Wind Speed
3) By Grid Connectivity: Off Grid, On Grid
4) By Application: Peak Power Management, Power Storage, Demand Response, Frequency Response, System Stability
5) By End User: Utilities, Commercial And Industrial, Hybrid Power
Subsegments:
1) Less Than 500 Kilowatt (KW): Small Residential Wind Turbines, Small Commercial Wind Turbines, Off-Grid Wind Turbines
2) 500 Kilowatt (KW) To 2 Megawatt (MW): Medium-Sized Commercial Wind Turbines, Industrial Wind Turbines, Community Wind Turbines
3) More Than 2 Megawatt (MW): Large Utility-Scale Wind Turbines, Offshore-Adapted Onshore Turbines, High Capacity Industrial Wind Turbines
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Which firms are leading the onshore wind energy market?
Major companies operating in the onshore wind energy market are Iberdrola S.A., Duke Energy, NextEra Energy Resources, Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, Enel Green Power S.p.A., Sungrow Power Supply Co Ltd, Pattern Energy Group Inc., Canadian Solar Inc., Nordex Group, Enercon GmbH, Brookfield Renewable Partners, Enphase Energy, TransAlta Corp, Renewable Energy Systems (RES), Invenergy, Clearway Energy, Boralex Inc, Mainstream Renewable Power, Apex Clean Energy, Cypress Creek Renewables, Windlab Ltd, Gazelle Wind Power Limited, Vortex Bladeless Ltd
How will industry trends affect the trajectory of the onshore wind energy market?
Major companies operating in the onshore wind energy market are developing onshore wind turbines to enhance turbine efficiency, optimize wind resource management, and improve overall energy production. An onshore wind turbine is a land-based device that generates electricity by harnessing wind energy, commonly found in wind farms. For instance, in April 2023, Goldwind, a China-based wind turbine manufacturing company, launched two new turbine models, the GWH221-8.X-10 and the GWH24X-12. The GWH24X-12.X, with an expected capacity of 12 megawatts (MW), is poised to become the largest onshore wind turbine, surpassing even the largest offshore turbines such as GE’s 14 MW Halliade-X. This achievement was made possible with support from the Chinese government and industry partners, allowing Goldwind to advance its technology. Goldwind now holds the fourth position globally in installed wind energy capacity, with a strong presence in China and projects across multiple continents.
Which geographic trends are shaping the onshore wind energy market, and which region has the highest market share?
North America was the largest region in the onshore wind energy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the onshore wind energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Onshore Wind Energy Market Report 2025 Offer?
The onshore wind energy market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Onshore wind energy refers to the generation of electricity from wind turbines that are installed on land. These wind turbines capture the kinetic energy from the wind and convert it into electrical power through the rotation of blades connected to a generator. Onshore wind farms are typically located in areas with consistent and strong winds, such as open plains, hilltops, and coastal regions.
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