Onshore Wind Energy Market to Reach USD 70 Billion By 2035 | Nordex, EDP Renewables, Aker Solutions
May 22, 2025
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Introduction
As per MRFR analysis, the Onshore Wind Energy Market Size was estimated at 123.86 (USD Billion) in 2023. The Onshore Wind Energy Market Industry is expected to grow from 131.33 (USD Billion) in 2024 to 250 (USD Billion) by 2035. The Onshore Wind Energy Market CAGR (growth rate) is expected to be around 6.03% during the forecast period (2025 - 2035).
The onshore wind energy market has emerged as a vital component in the global transition toward cleaner and more sustainable energy systems. Onshore wind power, which involves the installation of wind turbines on land, is a well-established renewable energy source known for its cost-effectiveness, rapid deployment capabilities, and potential to significantly reduce greenhouse gas emissions. As global concerns about climate change, energy security, and fossil fuel depletion intensify, investments in onshore wind projects have surged across developed and emerging economies alike.
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Market Overview
Onshore wind energy is a cornerstone of many national and regional energy strategies, contributing significantly to electricity generation. The global onshore wind energy market is experiencing strong growth, with increasing capacity additions driven by favorable policy frameworks, declining technology costs, and heightened investor interest. Countries such as China, the United States, Germany, India, and Brazil are leading contributors to global onshore wind capacity, with new installations being added every year. According to industry estimates, global onshore wind capacity surpassed 800 GW in 2024, and the market is projected to grow steadily in the coming decade.
Key Drivers
Several factors are propelling the expansion of the onshore wind energy market. Chief among them is the growing emphasis on decarbonization and meeting net-zero emission targets. Governments worldwide are introducing incentives such as feed-in tariffs, tax credits, and auction-based procurement to stimulate wind power development. Additionally, the levelized cost of electricity (LCOE) from onshore wind has fallen sharply in recent years, making it one of the most competitive energy sources. Technological advancements in turbine design, digital monitoring, and predictive maintenance have improved performance, reduced downtime, and increased the overall efficiency of wind farms.
Regional Insights
North America
In North America, the United States is the dominant player in the onshore wind market. Federal production tax credits and state-level renewable portfolio standards have encouraged large-scale wind deployments, especially in the Midwest and Texas. Canada is also expanding its wind portfolio, particularly in provinces with rich wind resources such as Alberta and Ontario.
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Europe
Europe remains a global leader in wind power development, with countries like Germany, Spain, and the United Kingdom maintaining robust onshore wind programs. The European Union's Green Deal and climate neutrality goals have led to new investments and upgrades in aging wind infrastructure. Furthermore, the continent is focusing on grid modernization and cross-border electricity trade to accommodate more wind energy.
Asia-Pacific
Asia-Pacific is witnessing the fastest growth in onshore wind installations, with China at the forefront. China alone accounts for nearly half of global capacity additions, driven by strong policy support and domestic manufacturing capabilities. India is also a significant market, although recent challenges such as land acquisition and grid constraints have moderated growth. Other countries in Southeast Asia and Oceania are beginning to explore wind energy as part of their renewable energy mix.
Challenges
Despite its promising outlook, the onshore wind energy market faces several challenges. Land use conflicts, environmental concerns, and public opposition can delay project approvals and implementation. Transmission infrastructure is often inadequate in remote areas where wind resources are abundant, requiring costly upgrades. Additionally, regulatory uncertainty and policy shifts in some regions can deter investment. Supply chain disruptions and rising commodity prices have also affected turbine manufacturing and installation timelines in recent years.
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Emerging Trends
New trends are shaping the future of the onshore wind energy market. Hybrid renewable energy systems, combining wind with solar or battery storage, are gaining popularity for their ability to stabilize power output and enhance grid reliability. Digital technologies such as artificial intelligence, drone inspections, and IoT-enabled sensors are improving operations and maintenance. Furthermore, repowering old wind farms with newer, more efficient turbines is becoming a cost-effective strategy to boost capacity without expanding land use.
Future Outlook
The outlook for the onshore wind energy market remains optimistic. As countries intensify their climate commitments and strive for energy independence, the demand for renewable energy will continue to grow. Onshore wind is expected to play a central role due to its scalability, maturity, and declining costs. Market participants, including utilities, independent power producers, and equipment manufacturers, are likely to benefit from long-term opportunities in project development, asset management, and technology innovation.
The onshore wind energy market is a key enabler of global sustainable energy ambitions. It offers an economically viable and environmentally friendly alternative to fossil fuels, supporting job creation, rural development, and emission reductions. While challenges persist, ongoing advancements in technology, supportive policy environments, and increasing public and private sector collaboration are setting the stage for continued expansion. As the world moves toward a low-carbon future, onshore wind energy will remain an indispensable part of the solution.
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