Wind Power Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025-2032

Description

Persistence Market Research has recently released a comprehensive report on the global Wind Power Equipment Market, delivering an in-depth assessment of key market dynamics such as growth drivers, restraints, opportunities, competitive landscape, and future outlook. The report provides valuable insights to help industry participants, investors, and policymakers make informed strategic decisions in the rapidly evolving renewable energy sector.

Key Insights:

Wind Power Equipment Market Size (2025E): US$ 49.9 Bn
Projected Market Value (2032F): US$ 78.6 Bn
Global Market Growth Rate (CAGR 2025 to 2032): 6.7%

Wind Power Equipment Market - Report Scope:

The wind power equipment market includes a broad range of components and systems used to generate electricity from wind energy, such as turbines, blades, towers, generators, gearboxes, and control systems. These components are essential for both onshore and offshore wind installations. The market is experiencing strong growth due to the rising global demand for clean and sustainable energy solutions, favorable government policies promoting renewable energy adoption, and continuous technological advancements aimed at improving turbine efficiency and reducing operational costs. In 2023, global wind power capacity expanded significantly by 117 GW, pushing total installed capacity beyond 1,136 GW, reflecting a sharp year-on-year increase and highlighting the accelerating transition toward wind-based power generation worldwide.

Market Growth Drivers:

The growth of the global wind power equipment market is primarily driven by the increasing demand for renewable and low-carbon energy sources amid rising concerns over climate change and carbon emissions. Supportive government initiatives, subsidies, and renewable energy targets across major economies have accelerated the deployment of wind energy projects. Technological advancements in turbine design, such as larger rotor diameters and higher-capacity turbines, have improved energy output and project viability, further encouraging investment. Additionally, declining costs of wind power generation and increased private and public sector investments in energy infrastructure are playing a crucial role in driving market expansion.

Market Restraints:

Despite strong growth prospects, the wind power equipment market faces certain challenges that may restrain its expansion. High initial capital investment requirements for wind power projects, particularly offshore installations, can limit adoption in developing and cost-sensitive regions. Complex installation processes, grid integration challenges, and variability in wind resources can also impact project feasibility and returns. Furthermore, supply chain disruptions, raw material price volatility, and logistical challenges associated with transporting large equipment components may affect production timelines and overall market growth.

Market Opportunities:

The wind power equipment market presents significant opportunities driven by the global shift toward energy transition and decarbonization. Rapid growth in offshore wind projects, especially in Europe and East Asia, offers lucrative prospects for equipment manufacturers. Emerging economies in South Asia, Latin America, and Africa are increasingly investing in wind energy to meet rising electricity demand, creating new market avenues. Continued innovation in digital monitoring, predictive maintenance, and smart control systems is expected to enhance operational efficiency and reduce downtime, opening opportunities for advanced equipment solutions. Strategic collaborations, local manufacturing initiatives, and investments in research and development can further strengthen market penetration and long-term growth.

Key Questions Answered in the Report:

What are the major factors driving the growth of the global wind power equipment market?
Which regions and equipment segments are witnessing the highest demand?
How are technological advancements shaping the future of wind power equipment?
Who are the leading players in the wind power equipment market, and what strategies are they adopting?
What are the key trends and future projections for the global wind power equipment industry?

Competitive Intelligence and Business Strategy:

Leading players in the global wind power equipment market, including Vestas Wind Systems AS, Siemens Gamesa Renewable Energy, General Electric Company, and Xinjiang Goldwind Science & Technology Co., Ltd., are focusing on technological innovation, expansion of offshore wind capabilities, and strategic partnerships to strengthen their market positions. Companies are investing heavily in high-capacity turbines, digital solutions, and localized manufacturing to reduce costs and improve supply chain efficiency. Mergers, acquisitions, and long-term service agreements are also key strategies adopted to enhance competitiveness and global reach.

Companies Covered in This Report:

Vestas Wind Systems AS
Siemens Gamesa Renewable Energy
Enercon GmbH
Envision Energy
General Electric Company
Guodian United Power Technology Company Limited
Ming Yang Wind Power Group Limited
Senvion SA
Nordex SE
Xinjiang Goldwind Science & Technology Co., Ltd.

Market Segmentation

By Location:

Offshore
Onshore

By Equipment:

Blades
Control Systems
Gearboxes
Generators
Towers
Turbines
Others

By Region:

North America
Europe
East Asia
South Asia and Oceania
Middle East and Africa
Latin America

Product Code: PMRREP35323

1. Executive Summary

1.1. Global Wind Power Equipment Market Snapshot 2025 and 2032
1.2. Market Opportunity Assessment, 2025-2032, US$ Bn
1.3. Key Market Trends
1.4. Industry Developments and Key Market Events
1.5. Demand Side and Supply Side Analysis
1.6. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definitions
2.2. Value Chain Analysis
2.3. Macro-Economic Factors
- 2.3.1. Global GDP Outlook
- 2.3.2. Global Renewable Energy Industry Overview
- 2.3.3. Global Energy Generation and Distribution Industry Overview
- 2.3.4. Global Turbine Manufacturing Industry Outlook
- 2.3.5. Global Logistics and Supply Chain Overview
2.4. Forecast Factors - Relevance and Impact
2.5. COVID-19 Impact Assessment
2.6. PESTLE Analysis
2.7. Porter's Five Forces Analysis
2.8. Geopolitical Tensions: Market Impact
2.9. Regulatory and Technology Landscape

3. Market Dynamics

3.1. Drivers
3.2. Restraints
3.3. Opportunities
3.4. Trends

4. Price Trend Analysis, 2019 - 2032

4.1. Region-wise Price Analysis
4.2. Price by Segments
4.3. Price Impact Factors

5. Global Wind Power Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

5.1. Key Highlights
5.2. Global Wind Power Equipment Market Outlook: Location
- 5.2.1. Introduction/Key Findings
- 5.2.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis by Location, 2019-2024
- 5.2.3. Current Market Size (US$ Bn) and Volume (Units) Forecast, by Location, 2025-2032
  - 5.2.3.1. Offshore
  - 5.2.3.2. Onshore
- 5.2.4. Market Attractiveness Analysis: Location
5.3. Global Wind Power Equipment Market Outlook: Equipment
- 5.3.1. Introduction/Key Findings
- 5.3.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis by Equipment, 2019-2024
- 5.3.3. Current Market Size (US$ Bn) and Volume (Units) Forecast, by Equipment, 2025-2032
  - 5.3.3.1. Blades
  - 5.3.3.2. Control Systems
  - 5.3.3.3. Gearboxes
  - 5.3.3.4. Generators
  - 5.3.3.5. Towers
  - 5.3.3.6. Turbines
  - 5.3.3.7. Others
- 5.3.4. Market Attractiveness Analysis: Equipment

6. Global Wind Power Equipment Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis by Region, 2019-2024
6.3. Current Market Size (US$ Bn) and Volume (Units) Forecast, by Region, 2025-2032
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia & Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Wind Power Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. North America Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 7.3.1. U.S.
- 7.3.2. Canada
7.4. North America Market Size (US$ Bn) and Volume (Units) Forecast, by Location, 2025-2032
- 7.4.1. Offshore
- 7.4.2. Onshore
7.5. North America Market Size (US$ Bn) and Volume (Units) Forecast, by Equipment, 2025-2032
- 7.5.1. Blades
- 7.5.2. Control Systems
- 7.5.3. Gearboxes
- 7.5.4. Generators
- 7.5.5. Towers
- 7.5.6. Turbines
- 7.5.7. Others

8. Europe Wind Power Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Europe Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 8.3.1. Germany
- 8.3.2. Italy
- 8.3.3. France
- 8.3.4. U.K.
- 8.3.5. Spain
- 8.3.6. Russia
- 8.3.7. Rest of Europe
8.4. Europe Market Size (US$ Bn) and Volume (Units) Forecast, by Location, 2025-2032
- 8.4.1. Offshore
- 8.4.2. Onshore
8.5. Europe Market Size (US$ Bn) and Volume (Units) Forecast, by Equipment, 2025-2032
- 8.5.1. Blades
- 8.5.2. Control Systems
- 8.5.3. Gearboxes
- 8.5.4. Generators
- 8.5.5. Towers
- 8.5.6. Turbines
- 8.5.7. Others

9. East Asia Wind Power Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. South Korea
9.4. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by Location, 2025-2032
- 9.4.1. Offshore
- 9.4.2. Onshore
9.5. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by Equipment, 2025-2032
- 9.5.1. Blades
- 9.5.2. Control Systems
- 9.5.3. Gearboxes
- 9.5.4. Generators
- 9.5.5. Towers
- 9.5.6. Turbines
- 9.5.7. Others
9.6. East Asia Market Size (US$ Bn) and Volume (Units) Forecast, by , 2025-2032

10. South Asia & Oceania Wind Power Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. South Asia & Oceania Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 10.3.1. India
- 10.3.2. Southeast Asia
- 10.3.3. ANZ
- 10.3.4. Rest of SAO
10.4. South Asia & Oceania Market Size (US$ Bn) and Volume (Units) Forecast, by Location, 2025-2032
- 10.4.1. Offshore
- 10.4.2. Onshore
10.5. South Asia & Oceania Market Size (US$ Bn) and Volume (Units) Forecast, by Equipment, 2025-2032
- 10.5.1. Blades
- 10.5.2. Control Systems
- 10.5.3. Gearboxes
- 10.5.4. Generators
- 10.5.5. Towers
- 10.5.6. Turbines
- 10.5.7. Others

11. Latin America Wind Power Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Latin America Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 11.3.1. Brazil
- 11.3.2. Mexico
- 11.3.3. Rest of LATAM
11.4. Latin America Market Size (US$ Bn) and Volume (Units) Forecast, by Location, 2025-2032
- 11.4.1. Offshore
- 11.4.2. Onshore
11.5. Latin America Market Size (US$ Bn) and Volume (Units) Forecast, by Equipment, 2025-2032
- 11.5.1. Blades
- 11.5.2. Control Systems
- 11.5.3. Gearboxes
- 11.5.4. Generators
- 11.5.5. Towers
- 11.5.6. Turbines
- 11.5.7. Others

12. Middle East & Africa Wind Power Equipment Market Outlook: Historical (2019-2024) and Forecast (2025-2032)

12.1. Key Highlights
12.2. Pricing Analysis
12.3. Middle East & Africa Market Size (US$ Bn) and Volume (Units) Forecast, by Country, 2025-2032
- 12.3.1. GCC Countries
- 12.3.2. South Africa
- 12.3.3. Northern Africa
- 12.3.4. Rest of MEA
12.4. Middle East & Africa Market Size (US$ Bn) and Volume (Units) Forecast, by Location, 2025-2032
- 12.4.1. Offshore
- 12.4.2. Onshore
12.5. Middle East & Africa Market Size (US$ Bn) and Volume (Units) Forecast, by Equipment, 2025-2032
- 12.5.1. Blades
- 12.5.2. Control Systems
- 12.5.3. Gearboxes
- 12.5.4. Generators
- 12.5.5. Towers
- 12.5.6. Turbines
- 12.5.7. Others

13. Competition Landscape

13.1. Market Share Analysis, 2024
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping
- 13.2.2. Competition Dashboard
13.3. Company Profiles
- 13.3.1. Vestas Wind Systems AS
  - 13.3.1.1. Company Overview
  - 13.3.1.2. Product Portfolio/Offerings
  - 13.3.1.3. Key Financials
  - 13.3.1.4. SWOT Analysis
  - 13.3.1.5. Company Strategy and Key Developments
- 13.3.2. Siemens Gamesa Renewable Energy
- 13.3.3. Enercon GmbH
- 13.3.4. Envision Energy
- 13.3.5. General Electric Company
- 13.3.6. Guodian United Power Technology Company Limited
- 13.3.7. Ming Yang Wind Power Group Limited
- 13.3.8. Senvion SA
- 13.3.9. Nordex SE
- 13.3.10. Xinjiang Goldwind Science & Technology Co., Ltd.

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations