The wind turbine market is projected to boom! According to projections, by 2030, the cumulative installed capacity will be 934.6 gigawatts (GW). The Asia-Pacific (APAC) region has been at the forefront of this adoption. It leads the world’s market in terms of annual installed capacity, as well as in the leading manufacturing capacity. The world is moving fast in the clean energy direction. As this transition accelerates, the APAC region will continue to solidify its leadership status, driven by technology breakthroughs and robust policy backing.
Now the APAC region has a 92% share of annual wind turbine installations. Countries such as China are leading the way on this growth, with original equipment manufacturers (OEMs) at the forefront of global capacity additions. APAC already has powerful manufacturing bases for turbines, components, and offshore technologies. This joint effort, in turn, positions the region as a national and key global player in the emerging wind energy landscape.
Americas Rise in Clean Energy Manufacturing
The APAC region is at the top, the Americas are ranked the third-largest market for wind energy combined. And there the United States takes the lead. Strategic legislative measures, such as the Inflation Reduction Act (IRA), have had an enormous hand in this success. This act has triggered a clean energy manufacturing boom across the country. It has sparked, nurtured and laid the groundwork for an amazing new offshore wind supply chain.
The IRA has catalyzed repowering activities in the U.S., allowing older wind farms to upgrade their technology and improve efficiency. It’s no wonder these initiatives have been the backbone of U.S. economic competitiveness in the global renewable energy marketplace. They allow the U.S. to meet its expanding energy needs more sustainably.
Europe’s Steady Commitment to Wind Energy
Europe serves as a regional anchor in the global wind turbine market, bolstered by binding climate mandates under the EU Green Deal and the revised Renewable Energy Directive III. Together, these policies have established a consistent and predictable regulatory atmosphere for investment and contributed to the development of innovative wind energy technologies.
The countries that touch the North Sea are at the forefront of Europe’s offshore wind development, and they are playing a large role in Europe’s total offshore capacity. Only the European, Middle Eastern, and African (EMEA) markets are larger in installed wind energy capacity. They present a colorful array of ambitious sub-national projects and commitments from nations big and small.