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Wind Power Market Growing at a CAGR of 10.52% by 2031 Driven by Renewable Power Demand and Asia-Pacific Dominance, Reports Mordor Intelligence

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SG Siemens Gamesa is listed as a major company in the wind turbine blade recycling market. The article does not offer specific sentiment for the company, but its presence indicates its role in the expanding wind power sector. FCX Freeport-McMoRan is listed as a major company in the base metals market, which is relevant to the wind power industry due to material requirements. The article does not provide specific sentiment for the company. RIO Rio Tinto is mentioned as a major company in the base metals market. While not directly about wind power, base metals are crucial components, and its inclusion suggests a connection to the broader industrial demand driven by renewable energy growth. VALE Vale S.A. is listed as a major company in the base metals market. The article does not provide specific sentiment for Vale, but its mention indicates its role in supplying raw materials potentially used in wind power infrastructure.

Wind Power Market Growing at a CAGR of 10.52% by 2031 Driven by Renewable Power Demand and Asia-Pacific Dominance, Reports Mordor Intelligence HYDERABAD, India, May 8, 2026 /PRNewswire/ -- According to recent reports from Mordor Intelligence, the global wind power market size in terms of installed base is expected to grow from 1.4 Terra-watt in 2026 to reach 2.31 Terra-watt by 2031, growing at a CAGR of 10.52%. Expansion is being supported by rising corporate renewable-energy agreements, large offshore wind installations, and favorable government incentives that improve project financing.

Demand from AI-driven data centers is also accelerating long-term clean power contracts. Meanwhile, floating wind technology is unlocking deeper offshore locations with stronger wind capacity, although raw material costs and rare-earth supply risks continue to challenge profit

Wind Power Market Drivers and Key Trends:

Expansion of High-Capacity Turbines

The shift toward larger wind turbines is improving project efficiency by lowering installation and maintenance costs while increasing energy output. Developers are now exploring locations that were previously considered less profitable, especially in offshore regions. Although transporting oversized components remains challenging, ongoing upgrades in ports and logistics infrastructure are helping ease these issues and strengthening the long-term competitiveness of the wind power market.

"Assessment of the wind power market increasingly requires comparison across project pipelines, policy direction, and regional investment activity, making transparent research assumptions and source validation critical for executive decision-making. Mordor Intelligence applies a structured methodology grounded in cross-verified industry data and consistent market tracking to support commercially reliable interpretation of sector developments" says Himanshu Vasisht, Senior Research Manager, Mordor Intelligence.

Rising Renewable Deals from Data Centers

Technology companies and cloud service providers are increasingly signing long-term renewable energy agreements to support growing electricity demand from AI and digital infrastructure. These contracts provide stable revenue for developers and encourage new wind projects near major grid connections and data hubs, making clean energy procurement a core business strategy rather than just a sustainability effort.

Government Support Strengthening Investments

Policy measures in the United States and Europe continue to support wind energy expansion through incentives, simplified approvals, and local manufacturing initiatives. These programs are improving investor confidence, reducing financing pressure, and helping developers move projects forward more quickly across key markets.

Access Detailed Market Insights with Region-Specific and Japan-Focused Editions: https://www.mordorintelligence.com/ja/industry-reports/global-wind-power-market?utm_source=prnewswire

Wind Power Industry Segmentation Insights:

By Location

By Turbine Capacity

By Application

By Component (Qualitative Analysis)

By Geography

For a full breakdown of wind power industry, segmentation data, and competitive intelligence, access the details of the Mordor Intelligence report: https://www.mordorintelligence.com/industry-reports/global-wind-power-market?utm_source=prnewswire

Wind Power Market Trends by Region

Asia-Pacific continues to lead the wind power market, supported by large-scale installations, expanding offshore projects, and strong government-backed renewable energy programs. Countries such as China and India remain key growth engines, while Japan, South Korea, and Vietnam are increasingly focusing on floating wind and export-linked clean energy projects.

Europe remains a center for offshore wind innovation, driven by faster permitting systems, local manufacturing expansion, and repowering of older wind farms. Countries across the region are upgrading existing infrastructure with advanced turbines to increase efficiency without requiring additional land.

In North America, the market shows steady onshore development despite policy uncertainty surrounding offshore leasing. Grid connection delays remain a challenge in several regions, although supportive clean-energy incentives continue to encourage investment activity.

Wind Power Companies

Check out related reports published by Mordor Intelligence:

Wind Turbine Blade Recycling Market: the global wind turbine blade recycling industry report is categorized by blade material, recycling method, and region. The study covers carbon fiber, glass fiber, physical recycling, thermo-chemical recycling, and key regions including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa

LM Wind Power, Siemens Gamesa Renewable Energy SA, Vestas Wind Systems A/S, Veolia Environnement S.A, Arkema S.A. are major companies operating in the market: https://www.mordorintelligence.com/industry-reports/wind-turbine-blade-recycling-market/companies?utm_source=prnewswire

Base Metals Market: report covers segmentation by source, metal type, end-user industries, and key regions including Asia-Pacific, North America, Europe, South America, and Middle East and Africa, with market forecasts presented in volume (tons).

BHP, Freeport-McMoRan, Rio Tinto, Vale S.A, Glencore are major companies operating in the market: https://www.mordorintelligence.com/industry-reports/base-metals-market/companies?utm_source=prnewswire

About Mordor Intelligence:

Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

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SOURCE Mordor Intelligence Private Limited