Wind Power Market Size To Reach $173.9 Billion By 2033

Wind Power Market Growth & Trends

The global wind power market size is expected to reach USD 173.9 billion by 2033, registering a CAGR of 5.7% from 2026 to 2033, according to a new report by Grand View Research, Inc. The increasing demand for clean and affordable energy is expected to drive the growth of the market. The adoption of wind power is increasing at a significant pace owing to the increasing viability of wind power for large-scale energy production.

Governments across various nations have been supporting the use of renewable energy sources including solar power, hydropower, wind power, and biomass. Regulatory bodies are emphasizing on reducing carbon footprints and reducing reliance on conventional energy sources which in turn promotes power generation using wind turbines. Increasing energy needs in countries such as India, China, the U.K., and Brazil, owing to rapid industrialization is projected to have a positive impact on the market growth.

Wind power energy finds wide use in numerous sectors such as commercial and residential. The Onshore wind power sector has emerged as a valued renewable energy source, across the world. The cumulative installed onshore and offshore wind power capacity is projected to observe a count of 837 GW in 2021. The offshore wind power sector has been gaining thrust in the global market for wind power.

Regions such as South America and Middle East & Africa offer a robust business opportunity for the market with countries, such as Brazil, Chile, and South Africa playing a vital role in the development of the growth. The increasing demand for electricity generation from green and clean sources is likely to drive the growth of the market in the forthcoming years. Besides, the massive wind power potential, coupled with a continuous decrease in the cost of installation, is expected to offer extensive business opportunities to the market. 

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Wind Power Market Report Highlights

• By location, the onshore segment accounted for the largest revenue share of 91.0% in 2025. The offshore segment is the fastest-growing segment, with a projected CAGR of 15.5% over the forecast period.

• Based on application, the utility segment held the largest revenue share of 94.5% in 2025. The non-utility segment is projected to register the fastest CAGR of 15.3% over the forecast period

• Asia Pacific wind power market accounted for the largest revenue share of 44.9% in 2025, due to the presence of established wind energy markets and large-scale installations across key countries.

Wind Power Market Segmentation

Grand View Research has segmented global wind power market report on the basis of location, application, and region:

Wind Power Location Outlook (Capacity in MW; Revenue in USD Million, 2021 - 2033)

• Onshore

• Offshore

Wind Power Application Outlook (Capacity in MW; Revenue in USD Million, 2021 - 2033)

• Utility

• Non-Utility

Wind Power Regional Outlook (Capacity in MW; Revenue in USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • India

  • Australia

  • Japan

• Latin America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players of Wind Power Market

• ABB

• EDF power solutions

• GE Vernova

• Goldwind

• Northland Power Inc.

• Siemens Gamesa Renewable Energy

• Sinovel Wind Group Co.

• Suzlon Energy Limited

• United Power

• Vensys Energy AG

• Vestas