The North America Wind Turbine Market size has an installed capacity of 1,76,301 MW (with installed units to be 85,309) in 2024 and is projected to reach 1,99,821 MW by 2030. Along with this, the market is estimated to grow at a CAGR of around 2.11% during the forecast period, i.e., 2025-30.        

North America Wind Turbine Market Driver:

Federal and State Renewable Energy Policies – Federal and state renewable energy policies that prioritize sustainability and decarbonization strongly drive the North America Wind Turbine Market. The Inflation Reduction Act of 2022 offered generous incentives for renewable energy initiatives. The prolonged Production Tax Credits (PTC) and Investment Tax Credits (ITC) specifically for wind energy, secure economic feasibility for major projects. This policy extension is expected to spur the growth of wind energy projects nationwide. Also, Renewable Portfolio Standards (RPS) are essential at the state level.  For instance, California requires that 60% of its electricity must be generated from renewable sources by 2030, leading to a significant need for wind turbines.

Also, various tax incentives are being provided by the Canadian government such as; the Clean Technology ITC. Benefits worth up to 30% of the capital cost of investments in wind energy equipment are being provided under this. Incentives up to 15% of the capital cost of investments in non-emitting electricity generation systems, including wind also fall under the same.  The purpose of these standards is to help states diversify their energy sources boost domestic energy production and stimulate economic growth. Wind energy is a crucial part of the North American energy transition due to strong regulations from both federal and state governments.

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Key Market Reports Highlights

·        Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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North America Wind Turbine Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2024

-Historical Period: 2020 to 2023

-Forecast Period: 2025 to 2030

• By Axis Type
  • Horizontal - Market Size & Forecast 2020-2030F, USD Million
  • Vertical - Market Size & Forecast 2020-2030F, USD Million
• By Rating
  • Up to 1 MW - Market Size & Forecast 2020-2030F, USD Million
  • 1 MW - 2.5 MW - Market Size & Forecast 2020-2030F, USD Million
  • 2.5 MW - 5 MW - Market Size & Forecast 2020-2030F, USD Million
  • 5 MW – 10 MW - Market Size & Forecast 2020-2030F, USD Million
  • Above 10 MW - Market Size & Forecast 2020-2030F, USD Million
• By Installation
  • Offshore - Market Size & Forecast 2020-2030F, USD Million
  • Onshore - Market Size & Forecast 2020-2030F, USD Million
• By Component
  • Rotator Blade - Market Size & Forecast 2020-2030F, USD Million
  • Gearbox - Market Size & Forecast 2020-2030F, USD Million
  • Generator - Market Size & Forecast 2020-2030F, USD Million
  • Nacelle - Market Size & Forecast 2020-2030F, USD Million
  • Others - Market Size & Forecast 2020-2030F, USD Million
• By End Users
  • Industrial- Market Size & Forecast 2020-2030F, USD Million
  • Commercial- Market Size & Forecast 2020-2030F, USD Million
  • Residential- Market Size & Forecast 2020-2030F, USD Million
  • Utility- Market Size & Forecast 2020-2030F, USD Million
  • Others - Market Size & Forecast 2020-2030F, USD Million
• By Region
  • The U.S.
  • Canada
  • Mexico

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - GE Renewable Energy, NourNET, Vestas, EDGNEX Riyadh RUH-1, ReGen Powertech, Envision Group, NextEra Energy, Siemens Gamesa Renewable Energy, S.A., Suzlon Energy Limited, NORDEX SE, Goldwind Americas, and others

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