The global wind power installation market was valued at approximately US$ 1,124.56 billion in 2022 and is anticipated to reach around US$ 2,687.275 billion by 2030. This market is expected to experience a compound annual growth rate (CAGR) of 911.6% from 2022 to 2030.

The wind power installation sector is crucial in the worldwide energy framework, significantly aiding in the production of clean and renewable electricity. Wind energy, which is generated from the kinetic energy of wind, has been utilized for over a century. Contemporary wind energy projects have advanced to become highly efficient and environmentally sustainable power sources.

One of the primary benefits of wind energy is its sustainability and minimal environmental footprint when compared to fossil fuel-based energy sources. Wind power facilities can be divided into different categories, including onshore and offshore wind farms. The onshore segment has captured the largest share of the wind power installation market due to its cost-effectiveness, which is expected to further stimulate growth in this segment in the coming years. Additionally, the offshore segment is projected to expand at a more rapid rate during the forecast period. According to the European Wind Energy Association, the United Kingdom leads Europe in installed offshore wind capacity, accounting for 44% of all offshore wind energy installations (in megawatts). Following the UK are Germany (34%), Denmark (7%), Belgium (6.4%), and the Netherlands (6%). Consequently, the increasing establishment of offshore wind farms is driving the anticipated trends in the wind power installation market.

Nevertheless, wind energy plants primarily consist of large metal components such as towers, nacelles, and rotor blades, which represent approximately 80% of the total cost of a typical turbine. The initial costs associated with installing offshore wind turbines, which include various mooring lines and anchors, can be quite high. The availability of land for wind turbine installation is often limited by a range of factors, including technical, social, economic, and environmental considerations. As a result, suitable land for wind power plants tends to be more expensive and requires compliance with numerous regulations, which further increases installation costs. The high costs of components contribute to the overall capital expenditure of wind power plants, which is expected to restrain market growth in the coming years.

Floating wind technology involves offshore wind turbines mounted on floating structures, enabling electricity generation in deeper waters. This technology is particularly effective in harsh environmental conditions, allowing for substantial power production. Floating wind technology is being adopted globally in countries such as China, Germany, Japan, the UK, France, Belgium, and Denmark. The growth in the adoption of floating wind technology is largely due to advancements in technology, its associated benefits, and the comprehensive solutions offered by various service providers. The increasing awareness of clean energy targets in various nations is also driving demand for floating offshore wind power, presenting a significant opportunity for the growth of the wind power installation market.

The Floating Offshore Wind Centre of Excellence has identified 22 countries that are well-positioned to become key players in this emerging renewable energy sector. In January 2022, the UK government announced funding for 11 successful projects, each receiving up to US$ 959.23 million as part of a US$ 2.97 billion initiative to enhance renewable energy generation in the UK. Furthermore, in April 2022, Technip Energies was chosen by Equinor to conduct front-end engineering design (FEED) for the offshore floating wind Firefly project located on the East Coast of South Korea.

The Asia Pacific region leads the wind power installation market, driven by favorable government policies, increased investment in wind energy projects, and declining costs of wind energy, which have led to greater adoption. Countries like China, India, and Japan hold significant shares of the wind power installation market, with expectations for growth in the coming years. China remains the dominant player in the wind power installation market, being the largest onshore market with 21.2 GW of new capacity added. Supportive government policies and incentives have made China an attractive destination for investment, suggesting that the wind power installation market will continue to thrive. According to the Global Wind Energy Council (GWEC), the Asia Pacific region is projected to become a leader in offshore wind, with its share of the global offshore wind market expected to rise from 24% in 2019 to 42% by 2025. The GWEC anticipates significant growth in the global wind energy sector from 2022 to 2025, with a CAGR of 3.5% and an annual added capacity reaching 110.6 GW by 2025.

The global wind power installation market report is categorized based on deployment type, end-user, and geography. The market is divided into onshore and offshore segments based on deployment type. In terms of end-users, the analysis is segmented into residential, commercial, and industrial categories, with power capacities classified as less than 10 MW and above 10 MW. Geographically, the report segments the global wind power installation market into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).

Key players in the wind power installation market include Siemens Gamesa Renewable Energy SA, General Electric, Mitsubishi Heavy Industries, Vestas Wind Systems, Senvion SA, Wind World Limited, Indowind, DNV GL, Goldwind, and Bergey Wind Power, among others.

The overall forecast for the wind power installation market has been derived from both primary and secondary research. Extensive secondary research has been conducted using both internal and external sources to gather qualitative and quantitative data related to the wind power installation market size. This process also aids in providing an overview and forecast of the wind power installation market across all segments. Additionally, numerous primary interviews have been conducted with industry participants, including VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the wind power installation market, to validate the data and gain analytical insights.