Wind Turbine Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Wind Turbine Market is segmented By Axis (Vertical, Horizontal), By Installation(Onshore, Offshore), By Component (Rotator Blade, Generator, Gearbox, ....
Wind Turbine Market Size
Market Size in USD Bn
CAGR7.81%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 7.81% |
| Market Concentration | Medium |
| Major Players | General Electric Company, Vestas Wind Systems A/S, Nordex SE, Suzlon Energy Limited, Siemens Gamesa Renewable Energy SA and Among Others |
*Disclaimer: Major players are listed in no particular order.
*Source: Coherent Market Insights
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Wind Turbine Market Analysis
The wind turbine market is estimated to be valued at USD 149.98 Bn in 2024 and is expected to reach USD 253.90 Bn by 2031. It is projected to grow at a compound annual growth rate (CAGR) of 7.81% from 2024 to 2031. The wind turbine market has been witnessing significant growth driven by supportive government policies and regulations towards adoption of renewable sources of energy.