Wind Turbine Market is expected to garner substantial gains through 2032 owing to the increasing investments across private and public sectors to accelerate wind energy deployment. The development of research and development facilities and increased funding for construction of new wind farms with high-capacity units will increase product adoption. Besides, supportive regulatory norms and mandates for augmenting wind energy deployment will also positively influence the industry outlook.


Overall, the wind turbine industry is segmented in terms of axis, installation, connectivity, rating, application, component, and region.


Based on the axis, the vertical wind turbine segment is anticipated to register strong growth through 2032. Product benefits such as easy installation, flexible operation, a lower cost structure, omnidirectional nature, suitability for unstable environments, and a lower starting wind speed are anticipated to spur its adoption in the coming years.


By installation, the offshore installation segment will grow considerably. Low labor costs owing to minimum human intervention, large turbine capacity, higher efficiency, no land utilization, and consistent wind flow are some key factors that would influence the business demand positively.


In terms of connectivity, the grid-connected segment accounted for over 91 GW in 2022. Increasing demand for utility-scale electricity infrastructure to suffice the requirement for clean energy across the
Industrial establishments and the benefit of backup power supply of turbines will boost demand in the sector.


By rating, the > 250 kW to 500 kW rating segment is expected to depict over 9% CAGR through 2032. The mounting demand for developing cutting-edge systems and substantial efforts for deploying advanced turbines that deliver maximum power output will stimulate the industry dynamics.


Considering the application, the residential segment accounted for over USD 22.5 billion in 2022. The transforming industry outlook can be attributed to the rising consumer demand for clean energy sources and the widespread adoption of effective and affordable power solutions. Besides, a high standard of living has also bolstered the electricity consumption in the sector. As per credible sources, the energy consumption in Indian residential sector accounts for 30% of the overall final consumption in the country.


By component, the nacelle module segment will depict strong growth during 2032. Constant innovations in turbine components that offer modularized designs and layouts and an increasing transition towards establishing export-oriented hubs across emerging economies such as India will favor a segmental growth.


Regionally, the Asia Pacific wind turbine industry will be valued at over USD 114 billion by 2032. Increasing electricity demand, rapid urbanization, and advancement of wind infrastructure will stimulate the business scenario across the region.