The wind turbine market is estimated to be valued at USD 149.98 Bn in 2024 and is expected to reach USD 253.90 Bn by 2031. It is projected to grow at a compound annual growth rate (CAGR) of 7.81% from 2024 to 2031.
Global Renewable Energy Targets
In the wake of the Paris Agreement, many countries have committed to ambitious renewable energy targets. These targets aim to reduce carbon emissions and limit global Wind Turbine Market to well below 2°C above pre-industrial levels. Wind energy, due to its low carbon footprint and abundant availability, is an essential component of these renewable energy strategies.
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