Horizontal Axis Wind Turbine Market Regional Analysis

Global Horizontal Axis Wind Turbine Market size was valued at USD 45.24 billion in 2023 and is poised to grow from USD 48.36 billion in 2024 to USD 82.47 billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032). 

Global Horizontal axis wind turbine market is competitive. The market is dominated by only few players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Siemens Gamesa Renewable Energy, S.A. (Spain) ', 'GE Renewable Energy (USA) ', 'Nordex SE (Germany) ', 'Goldwind (China) ', 'Envision Energy (China) ', 'Suzlon Energy Limited (India) ', 'Enercon GmbH (Germany) ', 'Mingyang Smart Energy Group Co., Ltd. (China) ', 'Senvion S.A. (Germany) ', 'Shanghai Electric Wind Power Equipment Co., Ltd. (China) ', 'Sinovel Wind Group Co., Ltd. (China) ', 'Acciona Energia, S.A. (Spain) ', 'Nordex Acciona Windpower (Germany) ', 'United Power (China) ', 'CSIC Haizhuang Wind Power (China) ', 'XEMC Windpower Co., Ltd. (China) ', 'Doosan Heavy Industries & Construction Co., Ltd. (South Korea) ', 'Hitachi Ltd. (Japan) ', 'MHI Vestas Offshore Wind A/S (Denmark) '

Industry expansion is fueled by both the incorporation of renewable energy sources and the increased use of clean energy. Additionally, the expansion of the industry as a whole is fueled by both private and public investment in utility-scale projects, as well as ongoing efforts to identify potential offshore wind project sites. Technology acceptance is fueled by rapid advancements in the development of sustainable energy systems, such as fixed and floating offshore wind projects. A small land footprint, low maintenance requirements, and low labor costs are some of the main factors influencing market share.

Offshore wind turbines are currently the subject of numerous technological advancements aimed at lowering the costs associated with offshore wind farm installation. To save money, one of these involves raising the voltage of the array to 66 kV. It is important to note that electrical array cable cost rises with wind turbine spacing and falls with size in this context. However, there is a trade-off between the cost of the array cable and the wake losses from the wind turbines when it comes to wind turbine spacing. Following offshore wind turbines are typically spaced 6 to 8 D apart, where D is the rotor diameter. But because of a number of factors, including technological advancements, the installation cost of offshore wind farms is continuously declining.

Europe is expected to control the horizontal axis wind turbine market share. Europe's horizontal axis wind turbine market is anticipated to expand during the forecast period as a result of the region's expanding wind turbine installation. Additionally, the European Union member states' growing environmental concerns and established goals for reducing their reliance on non-renewable energy sources are encouraging the installation of wind turbines in the region, which is positively affecting the development of the wind turbine market in Europe. A 50-turbine wind farm in southern Scotland, for instance, will be operational by 2023 and supply electricity to nearly 170,000 homes in the UK, according to a recent statement from the renewable energy company Vattenfall.