Onshore Wind Energy Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The market for onshore wind energy is expected to grow at a significant rate, from $131.33 billion in 2024 to $249.08 billion by 2035. The CAGR from 2025 to 2035 is a hefty 6.03%. The main reason for this growth is the growing demand for renewable energy, which is largely the result of the international climate policy to reduce greenhouse gas emissions and combat climate change. The technological development of wind energy, energy storage and grid integration will also contribute to the growth of onshore wind energy as a sustainable source of energy. The major players in the onshore wind energy sector, such as Vestas Wind Systems, Siemens-Gamesa and GE, are investing heavily in research and development to improve the technology of the windmills. Strategic initiatives, such as cooperation in large-scale wind power projects and investments in digital solutions to optimize operational efficiency, are also shaping the market. The onshore wind energy market will continue to grow as a result of the growing commitment to sustainable energy.

Regional Market Size

Regional Deep Dive

The Onshore Wind Energy Market is experiencing a significant growth across the globe, owing to the increasing demand for energy, technological advancements, and government support towards reducing carbon emissions. The regional markets have different characteristics, which are influenced by factors such as the regulatory framework, investment environment, and availability of natural resources. Moreover, as countries across the world are striving to achieve the target of generating electricity from renewable sources, the onshore wind energy market is also expected to grow significantly. Technological innovations in the field of wind energy and the development of energy storage systems will increase the prospects for onshore wind energy.

Europe

• Europe is still the leading continent in onshore wind energy, and Germany and Spain have ambitious programmes of renewal energy. Europe is on course to be the first continent to be climate-neutral by 2050, and the European Green Deal aims to further increase the use of wind energy.
• Innovations in turbine technology, such as Siemens Gamesa's development of larger and more efficient turbines, are enhancing energy output and reducing costs, making onshore wind more competitive against fossil fuels.

Asia Pacific

• China is the leader in onshore wind power, and has a huge ambition to increase the share of renewable energy and reach zero emissions by the year 2035. Companies like Goldwind and Longyuan Power are the main players in this rapidly growing market.
• India is also making strides in onshore wind energy, with the government aiming for 60 GW of wind capacity by 2022, supported by initiatives like the Wind-Solar Hybrid Policy to optimize resource use.

Latin America

• In Latin America, there is an increasing interest in onshore wind power, especially in Brazil and Chile, where the conditions are favourable and the governments encourage the investment. Brazil has introduced a system of auctions to encourage private investment in renewable energy.
• Chile's ambitious goal of generating 70% of its electricity from renewable sources by 2050 is spurring the development of onshore wind projects, with companies like Enel Green Power leading the charge.

North America

• The U.S. has seen a surge in onshore wind projects. The Biden administration's commitment to carbon-free power by 2035 has sparked an investment boom in renewables. The likes of NextEra Energy and Invenergy are building big wind farms.
• Texas remains the leading state for onshore wind energy, accounting for over 25% of the total U.S. wind capacity, supported by favorable wind conditions and a robust transmission infrastructure.

Middle East And Africa

• The Middle East and Africa are emerging as a new source of onshore wind power. South Africa is a forerunner in this field, thanks to its Renewable Energy Independent Power Producer Procurement (REIPPPP) programme.
• In Morocco, the Noor Ouarzazate Solar Complex is complemented by onshore wind projects, showcasing a diversified approach to renewable energy that is expected to enhance energy security in the region.

Did You Know?

“Did you know that the largest onshore wind farm in the world, the Gansu Wind Farm in China, has a total installed capacity of 7,965 MW, enough to power millions of homes?” — Global Wind Energy Council (GWEC)

Segmental Market Size

The onshore wind energy market is one of the most dynamically growing sectors of the green economy, driven by the growing need for energy and the global shift towards sustainable energy. The key drivers of the market are the tax and financial incentives, as well as the increasing efficiency of the wind power stations and the reduction in the cost of production. The leading regions are the USA and Europe, with Vestas and Siemens-Gamesa as the main players in terms of both development and innovation. The offshore wind energy market is at the stage of maturity, and a large-scale project like Hornsea One in the UK is an example of its full potential. The main applications are the large-scale power plants and community-based projects that are being increasingly integrated into the national electricity grids. In addition, the global and local initiatives relating to climate protection and sustainable development are contributing to the growth of the market. The development of wind energy is also being influenced by smart grids and predictive maintenance.

Future Outlook

In the United States, the onshore wind energy market is expected to increase from $131,335,200,000 in 2024 to $247,085,800,000 in 2035, with a CAGR of 6.03%. The growth of the market is mainly driven by the worldwide trend of shifting from fossil fuels to green energy, and the increasingly stringent government policies and the ambitious climate change goals set by the governments of various countries. The Paris Agreement has led to a huge demand for green energy, especially onshore wind power, which has led to a huge investment in the construction of wind farms and the improvement of related facilities. The development of technology will play a major role in the future development of the onshore wind energy market. The design of windmills has become more and more scientific and technological, with a larger rotor and new materials, which will greatly improve the efficiency of wind power and reduce the cost of electricity. In addition, the Internet of Things and artificial intelligence will be further combined with the Internet, which will further reduce the cost of onshore wind energy. , and improve the localization and independence of energy. By 2035, onshore wind power is expected to be a major part of the world's energy mix, with penetration rates exceeding 20% in some regions, becoming an important pillar of sustainable energy development.