The global wind energy market is entering its strongest growth phase yet, supported by accelerating national decarbonization targets, rising energy security concerns, and long-term industrial strategies across major economies. Total installed wind capacity worldwide is forecast to reach 934.6 GW by 2030, according to GlobalData.
In its latest report, Wind Turbines Market Size, Share and Trends Analysis by Technology, Installed Capacity, Generation, Key Players and Forecast, 2024–2030, GlobalData said global annual wind turbine installations reached 115.3 GW in 2024. Onshore wind continued to dominate the market, accounting for 91.8 percent of total installations, while offshore wind represented the remaining 8.2 percent.
Asia-Pacific leads global wind installations
The Asia-Pacific region remains the largest and most influential market for wind turbines, driven by strong deployment volumes and advanced manufacturing ecosystems.
Bhavana Sri Pullagura, Senior Power Analyst at GlobalData, said the region’s leadership is underpinned by China’s large-scale onshore and offshore wind development, India’s rapidly expanding domestic manufacturing base supported by competitive auctions, and emerging offshore projects in Japan and Australia.
APAC’s dominance is further strengthened by its integrated supply chains for turbines, components, and offshore technologies, positioning the region at the center of global capacity additions over the forecast period.
Europe anchors EMEA market growth
Europe, the Middle East, and Africa ranks as the second-largest regional market, with Europe acting as the primary growth engine. The region benefits from binding climate mandates under the EU Green Deal, the revised Renewable Energy Directive III, and a robust offshore wind pipeline, particularly in North Sea countries.
Beyond Europe, the Middle East and North Africa are advancing utility-scale renewable energy projects through government-backed procurement programs and national decarbonization strategies. In Sub-Saharan Africa, wind power development is progressing more gradually, supported by international financing institutions and regional power pool initiatives that are helping unlock new projects.
Americas driven by US policy support
The Americas represent the third-largest wind turbine market globally, led by the United States. The Inflation Reduction Act has played a critical role in stimulating clean energy manufacturing, supporting wind farm repowering, and fostering the development of an emerging offshore wind supply chain.
Policy incentives and long-term visibility on tax credits are encouraging investment across the wind value chain, from turbine manufacturing to project development and operations.
OEM competition intensifies amid technology shifts
According to GlobalData, market share leadership is increasingly concentrated among Chinese original equipment manufacturers, supported by cost-efficient manufacturing and large domestic deployment volumes. At the same time, European and US manufacturers remain competitive by focusing on advanced offshore technologies, digital optimization, and strong service portfolios.
Pullagura noted that trends such as turbine upscaling, hybrid project integration, and supply chain localization are reshaping how and where wind turbines are produced and deployed globally.
Wind power enters a transformative phase
The global wind turbine market is on the verge of accelerated expansion, driven by stronger clean energy commitments, rapid technological innovation, and more resilient manufacturing ecosystems.
Chinese OEMs are leading global capacity additions and Western manufacturers driving innovation in offshore and digital turbine platforms.
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