Wind Turbine Market Size, Share, Growth Analysis, By Axis, By Installation, By Connectivity, By Power, By Application, By Region - Industry Forecast 2025-2032

Asia-Pacific led the highest wind turbine market share in 2022. This is attributed to fast industrialization, economic growth, and rising energy needs. Governments of China, India, and South Korea are actively looking for substitute energy sources that are more sustainable and less harmful to the environment to meet this growth in demand. Due to abundant resources and declining costs, potential wind energy is becoming increasingly popular as a method to fill the energy gap. Feed-in tariffs, renewable targets, subsidies, and incentives are some of the policies put in place by governments around the area, which encourage the use of wind energy, thus investing in wind energy projects and bringing about a ripe market atmosphere.

Contrarily, North American market is expected to grow robustly, driven by the United States and Canada. In addition to new offshore wind projects coming onstream, particularly along the East Coast, the United States is also a major player in onshore wind energy, with Texas and Iowa leading the installations. Major federal policies also include the Inflation Reduction Act, which provides big incentives in terms of the production of renewable energy and facilitates the growth of wind energy adoption. With the implementation of sustainable energy legislation in Canadian provinces such as Ontario and Quebec, the latter are continuing to develop their wind capacity. Technical innovation and a well-intentioned policy regime will spur the growth of wind power in North America since both countries value the switch to clean energy at a high level.