Onshore Wind Turbine Market Size & Share 2024 - 2032
Market Size by Axis (Horizontal [HAWTs], Vertical [VAWTs]), by Connectivity (Grid connected, Standalone), by Rating (> 500 kW to 1 MW, >1 MW, 3 MW, >3 MW), by Component (Rotor, Nacelle, Tower), Regional Outlook & Forecast.
Report ID: GMI12007
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Published Date: October 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Srishti Agarwal
Onshore Wind Turbine Market Size
The global onshore wind turbine market was valued at USD 125.8 billion in 2023 and is estimated to grow at a CAGR of 6.5% from 2024 to 2032. It is a type of wind turbine that is installed on land (as opposed to offshore turbines, which are in bodies of water). These turbines harness wind energy to generate electricity, contributing to renewable energy production and reducing reliance on fossil fuels.
Onshore Wind Turbine Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
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Increasing installed capacity of onshore wind turbines along with growing renewable energy targets will drive the industry scenario. Advances in turbine design, such as larger rotor diameters and higher hub heights, will increase efficiency and energy capture, contributing to the product demand. Further, many governments are implementing supportive policies, including tax credits, feed-in tariffs, and renewable energy targets, to encourage the development of onshore wind projects.
Setting ambitious renewable energy targets as a part of their commitment to the Paris Agreement will drive the expansion of onshore wind capacity. Corporations are signing long-term PPAs with wind developers to secure renewable energy, enhancing the financial viability of new projects, contributing to the business momentum. Additionally, growing awareness of climate change and environmental issues will shift focus to renewable energy projects, including onshore wind farms, thereby driving the industry outlook.
Onshore Wind Turbine Market Trends
Ongoing adoption of digital technologies, including IoT and AI, is enhancing turbine performance and maintenance, allowing for predictive analytics to optimize energy production will stimulate the business statistics. Increasing technological improvements and economies of scale will reduce the technology cost, thereby strengthening the product penetration. Shifting focus toward community owned wind projects, allowing local stakeholders to invest in and benefit from renewable energy projects, will lead to market growth.
Onshore Wind Turbine Market Analysis
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Based on product, the grid connected segment is anticipated to cross over USD 197.5 billion by 2032, owing to technological advancements, policy support, and a growing emphasis on renewable energy to combat climate change. Many countries are expanding their grid-connected onshore wind capacity as part of their renewable energy targets. Grid-connected onshore wind turbines are increasingly participating in energy markets, providing power directly to the grid, leading to market growth. Furthermore, Modern turbines are equipped with advanced control systems that allow for real-time data monitoring and grid management, which helps optimize performance and maintain grid stability, additionally driving the business scenario.
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Based on rating, the > 1 MW to 3 MW segment is set to grow at a CAGR of over 7% through 2032, owing to cost-effectiveness, efficiency, and suitability for various site conditions. Increasing adoption in smaller projects along with growing flexibility in utilization across both rural and semi-urban settings will foster the product adoption. Innovations in turbine design, such as improved aerodynamics and blade materials, are increasing the efficiency of 1-3 MW turbines, enabling them to generate more energy at lower wind speeds. Moreover, the levelized cost of energy for onshore wind has decreased significantly, making the medium rated turbines more financially attractive, contributing to the business momentum.
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Europe onshore wind turbine market is projected to surpass USD 74.5 billion by 2032, owing to its expanding wind capacity to meet the EU’s target of becoming climate neutral by 2050. New onshore installations in Germany, Spain, and France along with growing adoption across countries including Poland & Romania will boost the industry landscape. Repowering, of old turbines with modern, more efficient models, is gaining momentum, especially in countries like Germany and Denmark, which have aging onshore wind fleets. This will support high energy output without new land use, appealing to countries with limited space for new projects, driving the market growth. European developers are adopting larger and more efficient turbines to maximize energy yield per site.
Furthermore, the operators are increasingly implementing digital monitoring, AI-driven maintenance, and predictive analytics to improve turbine performance and reduce downtime, thereby driving the business outlook.
Onshore Wind Turbine Market Share
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The onshore wind turbine industry is highly competitive, characterized by technological innovation, diverse regional players, and strategic partnerships. Companies are competing to develop larger, more efficient turbines that maximize energy yield per turbine. Large players with extensive manufacturing and supply networks, like Vestas and Goldwind, continue to offer competitive pricing. Collaborations with utility companies, governments, and EPCs are crucial to secure large-scale projects and maintain market presence. It is further shaped by innovation, regional specialization, cost-effectiveness, and strong alignment with global sustainability trends.
Onshore Wind Turbine Market Companies
Eminent players operating in the onshore wind turbine industry are:
Onshore Wind Turbine Industry News
This onshore wind turbine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “(USD Billion & MW)” from 2021 to 2032, for the following segments:
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Market, By Axis
Market, By Connectivity
Market, By Rating
Market, By Component
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →