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Wind Turbines Market: Rising Offshore Capacity Additions and Larger Rotor Diameters to Drive Market Growth

The global wind turbines market was valued at over USD 151 billion in 2025 and is projected to register a compound annual growth rate of approximately 9.4% from 2026 to 2035. The market covers onshore and offshore wind turbine equipment, including nacelles, rotor blades, towers, and associated drivetrain components, sold primarily to utility developers, independent power producers, and government-backed offshore tender programs. Onshore wind turbine manufacturing remains the larger of the two segments by installed volume, owing to lower per-unit capital costs and shorter project development timelines, while offshore wind turbine manufacturing commands a substantially higher average selling price per megawatt due to the marine-rated engineering, larger rotor diameters, and specialized installation requirements involved.

The market is expected to grow steadily through the forecast period, owing to continued onshore order momentum across Europe and North America and gradual recovery in offshore site tenders following a period of reduced award activity in 2025. Average turbine selling prices have moderated slightly in recent quarters due to a shift in regional and project mix, even as several manufacturers reported record annual order intake. Service and long-term maintenance agreements have also become an increasingly significant share of manufacturer order backlogs, reflecting growing customer preference for bundled turbine supply and multi-year operations contracts.

Executive Snapshot

What is the size and growth rate of the global wind turbines market?
The market was valued at over USD 151 billion in 2025 and is projected to grow at approximately a 9.4% compound annual growth rate from 2026 to 2035, supported by continued onshore order momentum and gradual offshore tender recovery.

How did wind turbine order intake trend among major manufacturers in 2025?
Several manufacturers, including Vestas and Nordex, reported record or near-record annual order intake in 2025, despite a broader slowdown in offshore site tender activity globally.

Why has the average selling price per megawatt for wind turbines moderated in recent quarters?
Selling price trends have been affected by a shift toward a higher share of onshore orders relative to offshore, along with project scope and regional mix changes reported by manufacturers including Nordex.

What role do long-term service agreements play in current wind turbine order backlogs?
Service orders have grown to represent more than half of total order backlog value at manufacturers including Vestas, reflecting increased customer demand for bundled turbine supply and multi-year operations and maintenance contracts.

What technical standards govern wind turbine design, safety, and certification globally?
International design and safety standards coordinated through the International Electrotechnical Commission establish the certification framework that wind turbine manufacturers must satisfy across most major markets.

How significant is Chinese wind turbine manufacturing capacity within the global competitive landscape?
Chinese manufacturers, including Goldwind and Mingyang Smart Energy, account for a substantial and growing share of global turbine installation volume, supported by domestic market scale and expanding export activity.

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Market Dynamics: Wind Turbines Market

  • Onshore wind turbine order intake reached record levels at several manufacturers in 2025, even as offshore tender activity slowed. Manufacturers including Nordex secured record annual order volumes in 2025, due to sustained demand from core European and North American markets.
  • Offshore wind site tender and offtake award activity declined notably in 2025 relative to the prior three-year average. Global offshore site awards totaled approximately 17.2 GW in 2025, a sharp decline from the 2022 to 2024 average, due to regulatory uncertainty and revenue framework adjustments across several major markets.
  • Service and long-term maintenance agreements continue to represent a growing share of total manufacturer order backlog value. Service orders at Vestas reached more than half of total order backlog value at the end of 2025, reflecting growing customer preference for bundled, multi-year service commitments.
  • Average turbine selling prices have remained broadly stable, with modest movement attributable to regional and project mix shifts. Manufacturers including Nordex reported selling prices largely consistent year over year, with small increases due to project scope rather than underlying pricing power.
  • Chinese manufacturers continue to expand their share of global turbine installation volume. Companies including Goldwind and Mingyang Smart Energy continue to benefit from large domestic order volumes and growing turbine export activity into other regions.
  • International design and certification standards continue to shape cross-border turbine deployment requirements. Standards coordinated through the International Electrotechnical Commission continue to provide the baseline framework manufacturers must satisfy when certifying turbine models for deployment across different national markets.
  • Public research investment continues to support incremental efficiency and reliability improvements in turbine design. Applied research conducted through national laboratories including the National Renewable Energy Laboratory continues to inform commercial turbine design improvements over time.

Market Segmentation: Wind Turbines Market

By Axis
  • Vertical
  • Horizontal
By Installation
  • Offshore
  • Onshore
By Capacity
  • Small
  • Medium
  • Large
By Component
  • Rotator Blade
  • Gearbox
  • Generator
  • Nacelle
  • Others
By Connectivity
  • Grid Connected
  • Stand Alone
By Rating
  • < 100 kW
  • 100 kW to 250 kW
  • > 250 kW to 500 kW
  • > 500 kW to 1 MW
  • 1 MW to 2 MW
  • >2 MW
By Application
  • Residential
  • Utility
  • Industrial
  • Commercial
By Geography
  • North America: United States, Canada, and Mexico
  • Europe:  Germany, U.K., France, Italy, Spain, Russia, Benelux, Nordics, and Rest of Europe
  • Asia Pacific: China, Japan, India, South Korea, Australia, New Zealand, Taiwan, South East Asia, and Rest of Asia Pacific
  • Latin America: Brazil, Argentina, Columbia, Chile, Peru, and Rest of Latin America
  • Middle East: Saudi Arabia, United Arab Emirates, Oman, Qatar, and Rest of Middle East
  • Africa: Nigeria, Egypt, Ethiopia, South Africa, and Rest of Africa

Key Growth Drivers: Wind Turbines Market

  1. Continued onshore order momentum across core European and North American markets is supporting overall volume growth. Due to this, manufacturers including Nordex have posted record annual order intake, and the market is expected to grow on the back of sustained onshore demand through the near term.
  2. Gradual recovery in offshore site tender and offtake activity is expected to support medium-term demand. Recovery in offshore award volumes following the 2025 slowdown is expected to support renewed growth in offshore turbine orders from 2026 onward.
  3. Growing adoption of long-term service contracts is supporting more predictable manufacturer revenue. Expanding service agreement adoption at Vestas continues to provide turbine manufacturers with a larger, more stable recurring revenue base.
  4. Continued expansion of Chinese turbine export activity is broadening the addressable global market. Growing export volumes from manufacturers including Mingyang Smart Energy continue to expand competitive supply options available to developers outside China.
  5. Continued international standards harmonization is easing cross-border certification requirements. Ongoing standards work through the International Electrotechnical Commission continues to ease cross-border certification complexity for manufacturers selling across multiple markets.
  6. Sustained applied research investment continues to improve turbine efficiency and reliability. Ongoing research through national laboratories including the National Renewable Energy Laboratory continues to support efficiency gains that filter into commercial turbine platforms.

Regional Outlook: Wind Turbines Market

  • Europe: Largest established onshore order base, with strong activity from Nordex and Vestas across Germany, France, and the broader region.
  • North America: Strong onshore order volume, with continued offshore project activity supported in part by GE Vernova.
  • Asia-Pacific: Largest overall installation volume globally, led by strong domestic demand and manufacturing scale from Goldwind and Mingyang Smart Energy.

Competitive Landscape: Wind Turbines Market

Notable key players include Vestas, GE Vernova, Siemens Gamesa, Goldwind, Nordex, Envision Energy, Suzlon Energy, Enercon, Mingyang Smart Energy, and Shanghai Electric.

Recent Developments

  • Vestas reported in February 2026 a record full-year 2025 revenue of EUR 18.8 billion and a combined order backlog of EUR 71.9 billion, with service orders accounting for more than half of total backlog value.
  • Vestas announced in December 2025 a 390 MW offshore wind turbine order for the Shinan-Ui project in South Korea, its first offshore order in the country, comprising 26 V236-15.0 MW turbines and a 20-year service agreement.
  • Nordex Group announced in January 2026 a record annual order intake of 10.2 GW for 2025, up 22.5% from 2024, led by orders from Germany, Canada, and France.

Consultant POV

The wind turbines market presents a mixed near-term picture, with strong onshore order momentum in core markets contrasting with a notable slowdown in offshore site tenders and offtake awards during 2025. Several manufacturers nonetheless closed the year with record order backlogs, supported in large part by growing service and maintenance agreement volumes rather than new equipment sales alone. Chinese manufacturers continue to expand their share of global installation volume, supported by strong domestic demand and increasing export activity. Overall, the market is expected to grow due to sustained onshore demand, gradual offshore recovery, and the expanding contribution of long-term service contracts to manufacturer revenue.

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Constancy Researchers is a global market intelligence and strategic advisory firm helping organizations navigate complex markets and make high-impact decisions with confidence. In an environment defined by rapid technological change, shifting demand patterns, and evolving competitive dynamics, we provide clarity where it matters most—at the point of decision-making. By combining deep industry understanding, rigorous analytics, and structured thinking, we enable leadership teams to identify opportunities, mitigate risks, and build strategies that drive sustainable growth.

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