The global wind power generator market revenue was around US$ 22.5 billion in 2023 and is estimated to reach US$ 35.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period from 2024 to 2032.

A wind power generator, also called a wind energy converter or wind turbine, is an instrument that transforms wind energy into electrical power. Wind turbines harness the kinetic energy of the wind and change it into mechanical energy, which is then utilized to develop electricity. They are a renewable and clean energy source, as they do not have greenhouse gas emissions or consume limited resources.

Factors Influencing Market Growth

- The broad range of applications of wind power generators in the renewable energy sector, industrial, electrical, commercial, and others is the key market trend for the growth of the wind power generator market.

- The electricity developed is provided into the power grid and distributed to businesses, homes, and industries. These factors contribute to the development of the wind power generator market during the forecast period.

- Transmission lines may require to be upgraded or expanded, adding to the overall project costs. This factor is anticipated to hinder the growth of the wind power generator market.

- The municipalities and communities invest in wind power generators to provide electricity to their residents and develop revenue. These factors together are anticipated to make remunerative opportunities for the development of the wind power generator market during the forecast period.

Impact of COVID-19

The impact of the COVID-19 pandemic outbreak influenced the development of the wind turbine sector in terms of delays in the supply of raw materials, production delays, or delays in the delivery of new turbines. These were all the problems the market for wind turbines had to negotiate with.

Also, due to the shortage of labor, multiple businesses had to stop working. Also, due to the uncertainty of their income during the lockdown, many vendors were forced back to their hometowns, which drove a termination in manufacturing and production. The market for wind turbines was immediately influenced as well as export and import activity.

Regional Analysis

The Asia-Pacific region is anticipated to dominate the global wind power generator market during the forecast period. This is attributed to the fact that wind power generators are attaining traction as a more environmentally reliable packaging solution. India is vigorously examining diverse energy sources, including wind power, to fulfill its needs. The dropping costs and competitive taxes of wind power make it an attractive alternative for addressing the energy requirements of India. Wind power projects have delivered income to rural communities via job opportunities and land lease agreements.

Leading Companies

The leading prominent companies profiled in the global wind power generator market are: -

- Siemens
- GE
- Vestas
- Goldwind
- Enercon
- Samsung Electronics
- United Power, Inc.
- Ming Yang
- Senvion
- Nordex Group
- Mitsubishi Heavy Industries
- Repower
- Alstom
- Sinovel Wind Group Co Ltd.
- Orano
- Other prominent key players

Segmentation Outline

The global wind power generator market segmentation focuses on Installation, Application, End Use Industry, and Region.

Segmentation based on Installation

- On-shore
- Off-shore

Segmentation based on Application

- Horizontal axis wind power
- Vertical axis wind power

Segmentation based on End Use Industry

- Commercial and Industrial
- Utility and Power Generation
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa