Wind Turbine Generators Market Report 2024 (Global Edition)

Global Wind Turbine Generators Market Report 2024 Market Size Split by Generator Type (DFIG (double-fed induction generator), Full Power), by Capacity (Upto 1 MW Wind Turbine Generators, 1-5 MW Wind T...

Wind Turbine Generators Market Report Description

We have various report editions of Wind Turbine Generators Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Wind Turbine Generators market

Key players deploy strategic initiatives such as product innovations, partnerships, and mergers. Companies prioritize R&D to introduce cutting-edge reagents, ensuring a competitive edge. Robust distribution networks and adherence to quality standards amplify market presence, fostering an environment where agility and innovation define industry leaders.

Wind Turbine Generators Industry News

In November 2022, Bloomberg New Economy Climate Technology Coalition launched today in Singapore. The Coalition will bring together the world's leading technologists, researchers, financiers, entrepreneurs, industrialists, investors, and public sector leaders to scale the next generation of green technologies critical to solving the climate crisis.

(Source: https://www.envision-group.com/news-detail?id=645350ae844afb49cbb3e759&lang=en/)

In June 2023, Windey Joined Hands with The World's Largest Port to Create A "Zero Carbon Port Zone." Windey won the bid for Ningbo-Zhoushan Port "Waterway transport port - Ship multi-energy integration technology and integrated application" demonstration application project, will cooperate with the world's largest port - Ningbo-Zhoushan Port, to jointly build a zero-carbon port and zero-carbon port area, boosting Ningbo-Zhoushan Port to be a "carbon peaking" and "carbon neutrality" demonstration port in the global port industry.

(Source: https://windeyenergy.com/en/news_show?id=92/)

Top Companies Market Share in Wind Turbine Generators Industry: (In no particular order of Rank)

• Siemens Gamesa Renewable Energy S A
• ENVISION Group
• Mingyang Smart Energy
• Nordex S E
• Xinjiang Goldwind Science & Technology Co Ltd
• Vestas Wind Systems AS
• General Electric
• Zhejiang Windey Co Ltd
• Suzlon Energy Limited
• Enercon GmbH
• Nordex Group
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Wind Turbine Generators market

Which Region will dominate the wind Turbine Generators Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. This region's strong position reflects its robust wind energy sector, characterized by favorable regulatory frameworks, abundant wind resources, and significant investments in renewable energy infrastructure. The United States, in particular, has been a key driver of growth in North America, boasting extensive wind capacity installations across various states, including Texas, Iowa, and California. Factors contributing to North America's dominance include supportive government policies, such as production tax credits and renewable energy targets, which have incentivized wind energy development and attracted substantial investments from both the public and private sectors.

Which Region is Expanding at the Fastest CAGR?

The Asia Pacific region is witnessing an increase in the Direct Drive Wind Turbine Generators category. Direct drive technology offers several advantages over traditional geared wind turbine generators, including higher efficiency, reduced maintenance requirements, and enhanced reliability. As a result, DDWTGs are gaining traction in the Asia Pacific market, particularly in countries with ambitious renewable energy targets and favorable wind conditions. Several factors are driving the growth of DDWTGs in the Asia Pacific region. First, the increasing demand for clean energy solutions is prompting countries to invest in wind power projects as part of their efforts to reduce carbon emissions and mitigate climate change. DDWTGs offer an attractive option for meeting this demand due to their improved performance and lower operational costs compared to geared turbines.

The current report Scope analyzes Wind Turbine Generators Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Wind Turbine Generators Market

According to Cognitive Market Research, the global Wind Turbine Generators market size was estimated at USD 3512.2 Million, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1404.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031. In North America, DFIG (double-fed induction generator) maintained a dominant market share throughout the forecast period. This dominance can be attributed to several key factors driving the widespread adoption of DFIG technology. Firstly, DFIG systems offer significant advantages in terms of grid stability and power control. Their ability to operate at variable speeds enables better integration with the grid, allowing for improved power quality and enhanced grid stability, particularly in regions with weak or fluctuating grid conditions. 

Country Analysis

• According to Cognitive Market Research, the U.S. had a major share in the wind turbine generators market, with a market size of USD 1108.45 million in 2024, which is projected to grow at a CAGR of 3.6% during the forecast period. This growth reflects the ongoing development and adoption of wind energy solutions in the United States, driven by factors such as increasing demand for renewable energy, supportive government policies and incentives, technological advancements, and efforts to reduce carbon emissions and combat climate change.
• The Canada Wind Turbine Generators market had a market share of USD 168.59 million in 2024 and is projected to grow at a CAGR of 4.6% during the forecast period. This growth is indicative of Canada's increasing focus on renewable energy development, including wind power, as part of efforts to transition to a more sustainable and low-carbon energy future.
  • The Mexico Wind Turbine Generators market is projected to grow at a CAGR of 4.3% during the forecast period, reaching a market size of USD 127.84 million in 2024.

 

Europe Wind Turbine Generators Market

According to Cognitive Market Research, with a market value of USD 3512.2 million in 2024, it is projected to expand at a compound annual growth rate (CAGR) of 4.1% from 2024 to 2031. Europe accounted for a share of over 30% of the global market size of USD 1053.66 million. DFIG (double-fed induction generator) maintained a dominant market share throughout the forecast period. This dominance can be attributed to several key factors driving the widespread adoption of DFIG technology. Firstly, DFIG systems offer significant advantages in terms of grid stability and power control. Their ability to operate at variable speeds enables better integration with the grid, allowing for improved power quality and enhanced grid stability, particularly in regions with weak or fluctuating grid conditions.

• The United Kingdom Wind Turbine Generators market had a market share of USD 177.01 million in 2024 and is projected to grow at a CAGR of 4.9% during the forecast period. This growth reflects the U.K.'s commitment to renewable energy development, including wind power, as part of its efforts to transition to a more sustainable and low-carbon energy system.
• The French Wind Turbine Generators market is projected to grow at a CAGR of 3.3% during the forecast period, reaching a market size of USD 96.94 million in 2024.
• According to Cognitive Market Research, the German Wind Turbine Generators market was valued at USD 208.62 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. This growth reflects Germany's ongoing commitment to renewable energy and its ambitious goals for expanding wind power capacity.
• The Italy Wind Turbine Generators market is projected to witness growth at a CAGR of 3.5% during the forecast period, with a market size of USD 90.61 million in 2024.
• The Russian Wind Turbine Generators market is projected to witness growth at a CAGR of 3.1% during the forecast period, with a market size of USD 163.32 million in 2024.
• The Spanish Wind Turbine Generators market is projected to grow at a CAGR of 3.2% during the forecast period, reaching a market size of USD 86.40 million in 2024.
• The Luxembourg Wind Turbine Generators market is projected to grow at a CAGR of 4.2% during the forecast period, reaching a market size of USD 32.66 million in 2024.
• The Portugal Wind Turbine Generators market is projected to grow at a CAGR of 3.9% during the forecast period, reaching a market size of USD 22.13 million in 2024.
• The Greece Wind Turbine Generators market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 12.64 million in 2024.
• The rest of Europe's Wind Turbine Generators market is projected to grow at a CAGR of 2.8% during the forecast period, reaching a market size of USD 163.32 million in 2024.

Asia Pacific Wind Turbine Generators Market

According to Cognitive Market Research, the global Wind Turbine Generators market size was estimated at USD 3512.2 Million, out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 807.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031. Geared Drive Wind Turbine Generators emerge as the fastest-growing category over the forecast period, propelled by several driving factors shaping the wind energy landscape. One significant driver is the continued demand for cost-effective solutions in wind energy production. Geared drive systems offer a well-established and proven technology that provides reliable performance at competitive costs. This cost-effectiveness makes geared drive turbines an attractive option for developers and investors seeking to optimize project economics and achieve competitive levelized cost of electricity (LCOE).

• According to Cognitive Market Research, the size of the China Wind Turbine Generators market was valued at USD 363.51 million in 2024 and is projected to grow at a CAGR of 7.1% during the forecast period. China has emerged as a global leader in wind energy deployment, with extensive onshore and offshore wind projects across the country. Government policies and initiatives, such as feed-in tariffs, renewable energy quotas, and subsidies for wind power development, have been instrumental in driving market growth.
• The Japan Wind Turbine Generators market is projected to grow at a CAGR of 6.1% during the forecast period, reaching a market size of USD 111.48 million in 2024.
• The India Wind Turbine Generators market had a market share of USD 96.94 million in 2024 and is projected to grow at a CAGR of 9.4% during the forecast period. This growth reflects India's increasing focus on renewable energy development, including wind power, as part of its efforts to address energy security, reduce carbon emissions, and meet growing electricity demand sustainably.
• The South Korean Wind Turbine Generator market is projected to grow at a CAGR of 6.7% during the forecast period, reaching USD 80.78 million in 2024.
• The Australian Wind Turbine Generators market is projected to grow at a CAGR of 7.3% during the forecast period, reaching a market size of USD 42.01 million in 2024.
• The Southeast Asia Wind Turbine Generators market is projected to grow at a CAGR of 8.6% during the forecast period, reaching a market size of USD 55.74 million in 2024.
• The Rest of the Asia Pacific Wind Turbine Generators market is projected to grow at a CAGR of 7.4% during the forecast period, reaching a market size of USD 57.35 million in 2024.

 

South America Wind Turbine Generators Market

According to Cognitive Market Research, the global Wind Turbine Generators market size was estimated at USD 3512.2 Million, out of which the Latin America market has more than 5% of the global revenue with a market size of USD 175.61 million in 2024 and will grow at compound annual growth rate (CAGR) of 5.0% from 2024 to 2031. Geared Drive Wind Turbine Generators emerge as the fastest-growing category over the forecast period, propelled by several driving factors shaping the wind energy landscape. One significant driver is the continued demand for cost-effective solutions in wind energy production. Geared drive systems offer a well-established and proven technology that provides reliable performance at competitive costs. This cost-effectiveness makes geared drive turbines an attractive option for developers and investors seeking to optimize project economics and achieve competitive levelized cost of electricity (LCOE).

• According to Cognitive Market Research, the size of the Brazil Wind Turbine Generators market was valued at USD 75.16 million in 2024 and is projected to grow at a CAGR of 5.6% during the forecast period. This growth reflects Brazil's increasing interest in renewable energy, including wind power, as part of its efforts to diversify its energy mix, reduce dependence on fossil fuels, and address environmental concerns.
• The Argentina Wind Turbine Generators market had a market share of USD 29.50 million in 2024 and is projected to grow at a CAGR of 5.9% during the forecast period. This growth is indicative of Argentina's increasing focus on renewable energy development, including wind power, as part of its efforts to diversify its energy sources, reduce carbon emissions, and enhance energy security.
• The Colombia Wind Turbine Generators market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 15.63 million in 2024.
• The Peru Wind Turbine Generators market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 14.40 million in 2024.
• The Chile Wind Turbine Generators market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 12.64 million in 2024.
• The Rest of the Latin American Wind Turbine Generator market is projected to grow at a CAGR of 4.1% during the forecast period, reaching a market size of USD 28.27 million in 2024.

Middle East and Africa Wind Turbine Generators Market

According to Cognitive Market Research, the global Wind Turbine Generators market size was estimated at USD 3512.2 Million, out of which the Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 70.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031. Fixed Wind Turbine Generators maintain a prominent market share, standing as stalwarts within the wind energy landscape. This steadfast position is attributed to several key factors driving their sustained dominance in the market. Firstly, fixed wind turbine generators offer a reliable and proven technology that has been widely deployed across various wind energy projects worldwide. With a simple and robust design, fixed turbines provide consistent performance and operational stability, making them a trusted choice for developers and investors.

• According to Cognitive Market Research, the GCC Countries Wind Turbine Generators market size was valued at USD 30.06 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period. This growth reflects the increasing interest and investment in renewable energy, including wind power, across the GCC countries as they seek to diversify their energy sources, reduce reliance on fossil fuels, and mitigate the environmental impacts of energy production.
• The Egypt Wind Turbine Generators market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 7.38 million in 2024.
• The South Africa Wind Turbine generator market is projected to witness growth at a CAGR of 6.3% during the forecast period, with a market size of USD 11.10 million in 2024. This growth reflects South Africa's increasing emphasis on renewable energy development, including wind power, as the country seeks to diversify its energy mix, reduce carbon emissions, and enhance energy security.
• The Turkey Wind Turbine Generators market is projected to grow at a CAGR of 4.8% during the forecast period, reaching a market size of USD 6.04 million in 2024.
• The Nigeria Wind Turbine Generators market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 7.38 million in 2024.
• The Rest of the MEA Wind Turbine Generators market is projected to grow at a CAGR of 4.3% during the forecast period, reaching a market size of USD 8.29 million in 2024.

 

Wind Turbine Generators Market Analysis

Wind Turbine Generators market Generator Type Segment Analysis

According to Cognitive Market Research, DFIG (double-fed induction generator) held the major market share over the forecast period. This dominance can be attributed to several key factors driving the widespread adoption of DFIG technology. Firstly, DFIG systems offer significant advantages in terms of grid stability and power control. Their ability to operate at variable speeds enables better integration with the grid, allowing for improved power quality and enhanced grid stability, particularly in regions with weak or fluctuating grid conditions. DFIG technology provides cost-effective solutions for wind energy projects, especially in onshore applications. Compared to other generator technologies, such as direct-drive or synchronous generators, DFIG systems are typically more affordable to manufacture, install, and maintain. 

Full Power is the fastest-growing category over the forecast period, propelled by several key factors driving their adoption in the market. One of the primary drivers is the increasing demand for higher efficiency and improved performance in wind energy systems. Full-power turbines, which typically utilize direct-drive or permanent magnet generator (PMG) technology, offer advantages such as higher energy yield, reduced maintenance requirements, and enhanced reliability compared to traditional geared turbines. Ongoing technological advancements and innovations in generator design and manufacturing processes also drive the growth of full-power wind turbine generators.

• DFIG (double-fed induction generator)
• Full Power

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Wind Turbine Generators Industry. Request a Free Sample PDF!

Wind Turbine Generators market Capacity Segment Analysis

According to Cognitive Market Research, Upto 1 M.W. Wind Turbine Generators hold a prominent market share, particularly in decentralized or distributed power generation applications. These smaller-scale turbines play a vital role in various settings, including rural electrification, off-grid power systems, and community wind projects. One of the key reasons for the prominence of up to 1 M.W. wind turbine generators is their versatility and adaptability to a wide range of environments and applications. These turbines are suitable for deployment in diverse locations, from remote rural areas with limited grid access to urban or industrial sites with specific energy needs. Their relatively compact size and modular design make them well-suited for decentralized energy production, allowing for flexible deployment and installation in various settings.

The 1-5 M.W. Wind Turbine Generators segment emerges as the fastest-growing category over the forecast period, propelled by several key factors. Firstly, technological advancements have enabled manufacturers to develop more efficient turbines within this size range, offering improved energy production and lower costs per megawatt-hour. These advancements include innovations in blade design, gearbox technology, and control systems, resulting in higher capacity factors and better performance in a wider range of wind conditions.

• Upto 1 MW Wind Turbine Generators
• 1-5 MW Wind Turbine Generators
• 5-10 MW Wind Turbine Generators
• Above 10 MW Wind Turbine Generators

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Wind Turbine Generators Drive Segment Analysis

According to Cognitive Market Research, Direct Drive Wind Turbine Generators indeed hold a prominent market share within the wind energy sector. This technology eliminates the need for a gearbox, directly coupling the rotor of the turbine to the generator. As a result, direct drive systems offer several advantages over traditional gearbox-driven systems, which contribute to their widespread adoption and market dominance. One key advantage of direct drive technology is increased reliability and reduced maintenance requirements. Gearboxes are often a source of mechanical wear and failure in traditional wind turbines. By eliminating the gearbox, direct drive turbines experience fewer moving parts, reducing the likelihood of breakdowns and the need for regular maintenance, ultimately leading to lower operational costs.

Geared Drive Wind Turbine Generators are the fastest-growing category over the forecast period, propelled by several driving factors shaping the wind energy landscape. One significant driver is the continued demand for cost-effective solutions in wind energy production. Geared drive systems offer a well-established and proven technology that provides reliable performance at competitive costs. This cost-effectiveness makes geared drive turbines an attractive option for developers and investors seeking to optimize project economics and achieve competitive levelized cost of electricity (LCOE).

• Direct Drive Wind Turbine Generators
• Geared Drive Wind Turbine Generators

Wind Turbine Generators Speed Segment Analysis

According to Cognitive Market Research, Fixed Wind Turbine Generators hold a prominent market share. They were standing as stalwarts within the wind energy landscape. This steadfast position is attributed to several key factors driving their sustained dominance in the market. Firstly, fixed wind turbine generators offer a reliable and proven technology that has been widely deployed across various wind energy projects worldwide. With a simple and robust design, fixed turbines provide consistent performance and operational stability, making them a trusted choice for developers and investors.

Variable Wind Turbine Generators are the fastest-growing category over the forecast period, driven by several key factors propelling their rapid expansion within the wind energy market. One significant driver is the increasing demand for improved efficiency and energy yield in wind power generation. Variable turbines utilize advanced technologies such as pitch control, rotor speed optimization, and smart grid integration to maximize energy capture and optimize power output across varying wind conditions. This enhanced efficiency makes variable turbines an attractive choice for developers and investors seeking to maximize the performance and profitability of wind projects.

• Fixed Wind Turbine Generators
• Variable Wind Turbine Generators

Wind Turbine Generators Deployment Segment Analysis

According to Cognitive Market Research, Onshore Wind Turbine Generators hold a prominent market share, standing as stalwarts within the wind energy industry. This enduring dominance is underpinned by several key factors that solidify their position in the market. Firstly, onshore wind turbine generators offer a well-established and proven technology that has been widely deployed across various regions globally. With a straightforward installation process and mature supply chains, onshore turbines provide reliable performance and operational stability, making them a preferred choice for developers and investors.

Offshore Wind Turbine Generators are the fastest-growing category over the forecast period, propelled by several key factors driving their rapid expansion within the wind energy market. One significant driver is the abundant wind resources available in offshore locations, which often feature stronger and more consistent wind speeds compared to onshore sites. This allows offshore turbines to capture more energy and generate higher electricity yields, making them an attractive option for developers and investors seeking to maximize energy production and project returns.

• Onshore Wind Turbine Generators
• Offshore Wind Turbine Generators

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

Author's Conclusion