The global wind turbine market was valued at USD 151.8 billion in 2024 and is expected to grow at a CAGR of 7.4% from 2025 to 2034, as reported in the latest study by Global Market Insights, Inc.
Wind turbines are essential devices that convert the kinetic energy of wind into mechanical energy, which is then used to generate electricity. This renewable energy source is crucial in reducing reliance on fossil fuels and addressing the challenges of climate change.
The increasing integration of wind energy with storage solutions and the rising focus on sustainability by corporations are key drivers of market growth. Wind energy is becoming a cornerstone of global decarbonization strategies as countries implement ambitious renewable energy targets.
Developers are prioritizing environmentally sustainable wind projects, adopting certifications and best practices to promote eco-friendly construction and operations, further boosting the adoption of wind turbines.
By axis type, horizontal axis wind turbines (HAWTs) are expected to dominate, with USD 303 billion by 2034. Their efficiency, scalability, and adaptability across various applications contribute to this growth.
