Key Insights
The North American wind power equipment market is experiencing significant expansion, propelled by escalating demand for renewable energy, favorable government incentives for clean energy adoption, and technological advancements in wind turbine efficiency and cost-effectiveness. The market, valued at $56.17 billion in the base year 2025, is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.5% through 2033. This growth trajectory is attributed to heightened climate change mitigation efforts, the declining Levelized Cost of Energy (LCOE) making wind power increasingly competitive against fossil fuels, and substantial investments in offshore wind projects, notably along the US East Coast. Onshore wind developments also remain a key contributor, particularly in regions with strong wind resources and supportive regulatory frameworks.
North America Wind Power Equipment Market Market Size (In Billion)
Within the North American wind power equipment sector, the market exhibits notable segmentation. While rotor and blade components currently hold a significant share, substantial growth is also anticipated in other segments, including towers, gearboxes, generators, and auxiliary equipment. Leading industry participants such as Vestas, Siemens Gamesa, and General Electric are actively engaged in competitive innovation and cost optimization strategies. Despite the positive outlook, the market faces challenges including supply chain volatility, intricate permitting processes, and the necessity for grid infrastructure enhancements to integrate expanded renewable energy capacity. Nevertheless, the long-term prospects for the North American wind power equipment market are highly promising, driven by persistent policy support and increasing investor confidence in the clean energy sector. The market is anticipated to reach approximately $115 billion by 2033, marking a considerable increase from its 2025 valuation.
North America Wind Power Equipment Market Company Market Share
North America Wind Power Equipment Market Report: 2019-2033
This comprehensive report provides a detailed analysis of the North America wind power equipment market, offering valuable insights for industry professionals, investors, and stakeholders. The report covers the period from 2019 to 2033, with a focus on the 2025-2033 forecast period. We delve into market dynamics, segmentation, key players, and future growth potential, incorporating the latest industry developments to provide an accurate and up-to-date picture.
North America Wind Power Equipment Market Structure & Innovation Trends
This section analyzes the competitive landscape, innovation drivers, and regulatory environment shaping the North American wind power equipment market. We examine market concentration, exploring the market share held by key players such as Vestas Wind Systems AS, Siemens Gamesa Renewable Energy S.A., General Electric Company, and others. The report also assesses the impact of mergers and acquisitions (M&A) activities, including deal values and their influence on market consolidation. Innovation drivers, such as advancements in turbine technology and the increasing demand for renewable energy, are analyzed in detail, along with regulatory frameworks and their impact on market growth. We also explore the influence of product substitutes and end-user demographics on market trends. The analysis accounts for xx Million in M&A deal values in the past five years, illustrating significant market activity and consolidation.
North America Wind Power Equipment Market Market Dynamics & Trends
This section provides an in-depth analysis of the market dynamics influencing the North America wind power equipment market's growth. We examine key growth drivers, including government incentives, the increasing adoption of renewable energy, and advancements in turbine technology, all contributing to a Compound Annual Growth Rate (CAGR) of xx% during the forecast period. Technological disruptions, such as the development of more efficient and cost-effective turbines, and shifts in consumer preferences toward sustainable energy solutions are thoroughly explored. This includes an analysis of market penetration rates for different equipment types and their adoption in onshore and offshore wind projects. The competitive dynamics are examined, looking at market strategies, product differentiation, and the overall competitive intensity of the market.
Dominant Regions & Segments in North America Wind Power Equipment Market
This section identifies the leading regions and segments within the North American wind power equipment market. Analysis will include:
Leading Region: The US is projected to dominate the market due to its strong renewable energy policy and extensive infrastructure development.
Leading Country: The United States is expected to remain the dominant player throughout the forecast period.
Leading Segments:
- Location: Onshore wind projects are expected to maintain a larger market share compared to offshore projects, however, the offshore wind segment exhibits substantial growth potential. This dominance is driven by existing infrastructure and economies of scale.
- Equipment Type: The Rotor/Blade segment currently holds the largest market share, driven by continuous technological advancements in blade design and manufacturing. However, the growth of the Generator and Tower segments is anticipated to be rapid, due to increasing demand for higher capacity wind turbines. The 'Other Equipment Types' segment, encompassing control systems and other supporting components, will also see significant growth, owing to increasing demand from the broader sector.
These findings are supported by an in-depth analysis of key drivers including economic policies, supportive government regulations, the development of sustainable energy goals, and the readily available grid infrastructure.
North America Wind Power Equipment Market Product Innovations
Recent product developments focus on increasing turbine capacity and efficiency, improving blade design for enhanced performance in diverse wind conditions, and employing smart technologies for optimized energy generation and reduced maintenance costs. The integration of digital technologies like advanced sensors and data analytics enhances performance monitoring and predictive maintenance, contributing to higher availability and reliability of wind power equipment. The market's adoption of these innovations is driven by a focus on lowering the levelized cost of energy (LCOE) and maximizing power output.
Report Scope & Segmentation Analysis
This report segments the North America wind power equipment market across various parameters:
Location: Onshore and Offshore. Onshore is expected to hold a significant market share initially, with offshore demonstrating higher growth potential.
Equipment Type: Rotor/Blade, Tower, Gearbox, Generator, and Other Equipment Types. Each segment will be analyzed in terms of size, growth rate, and competitive dynamics. Growth projections indicate strong expansion across all segments, albeit at varying rates.
This segmentation provides a granular understanding of market dynamics within specific areas and equipment types.
Key Drivers of North America Wind Power Equipment Market Growth
The market's growth is propelled by several key factors. Supportive government policies and incentives for renewable energy adoption, including the Inflation Reduction Act of 2022, significantly contribute to the growth of the wind energy sector. The increasing demand for clean energy, alongside technological advancements leading to more efficient and cost-effective wind turbines, also play crucial roles. Furthermore, improvements in grid infrastructure are supporting higher wind power integration, further driving growth within this market.
Challenges in the North America Wind Power Equipment Market Sector
The North America wind power equipment market faces challenges, including supply chain disruptions impacting component availability and pricing, leading to delays in project execution. Regulatory hurdles and permitting processes can also cause project delays and increase costs. Intense competition among established players and new entrants presents a significant challenge. These issues, combined, can negatively impact overall market expansion. The total quantifiable impact of these challenges on market growth is estimated to be xx%.
Emerging Opportunities in North America Wind Power Equipment Market
The increasing adoption of floating offshore wind technology presents significant opportunities for market expansion, as does the growth of hybrid renewable energy projects combining wind and solar power. Advancements in energy storage technologies, particularly batteries, enhance grid stability and enable higher wind power integration, offering opportunities for new equipment and service providers. Furthermore, the growing focus on sustainability and decarbonization presents an enduring and significant opportunity for market growth.
Leading Players in the North America Wind Power Equipment Market Market
- Emergya Wind Technologies BV
- Xinjiang Goldwind Science & Technology Co Ltd
- Siemens Gamesa Renewable Energy S.A.
- Enercon GmbH
- Envision Energy
- Acciona S.A.
- Vestas Wind Systems AS
- General Electric Company
- Nordex SE
Key Developments in North America Wind Power Equipment Market Industry
- November 2022: TPI Composites, Inc. (TPI) and GE Renewable Energy secured a ten-year lease extension for a rotor blade manufacturing facility, boosting domestic production and aligning with the Inflation Reduction Act. This development strengthens the domestic supply chain and enhances competitiveness.
- May 2022: BW Ideol, EDF Renewables, and Maple Power collaborated on floating foundation designs for a 500 MW offshore wind project, signifying advancements in offshore wind technology and project development. This signals a significant advancement in offshore wind energy capacity.
- April 2022: Boralex, Énergir, and Hydro-Québec partnered to develop three 400 MW wind projects in Quebec, illustrating collaboration and expansion in the Canadian wind energy market. This exemplifies the continuing expansion of wind energy projects in Canada.
Future Outlook for North America Wind Power Equipment Market Market
The North America wind power equipment market is poised for continued growth, driven by supportive government policies, technological advancements, and rising demand for renewable energy. The increasing focus on decarbonization and achieving net-zero emissions targets will propel significant investment in wind energy projects, thereby expanding the market for wind power equipment. Strategic partnerships and collaborations between key players are expected to fuel further innovation and market expansion, leading to a robust and sustainable future for the industry.
North America Wind Power Equipment Market Segmentation
-
1. Location
- 1.1. Onshore
- 1.2. Offshore
-
2. Equipment Type
- 2.1. Rotor/Blade
- 2.2. Tower
- 2.3. Gearbox
- 2.4. Generator
- 2.5. Other Equipment Types
-
3. Geography
- 3.1. United States
- 3.2. Canada
- 3.3. Rest of North America
North America Wind Power Equipment Market Segmentation By Geography
- 1. United States
- 2. Canada
- 3. Rest of North America
North America Wind Power Equipment Market Regional Market Share
Geographic Coverage of North America Wind Power Equipment Market
North America Wind Power Equipment Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 6.5% from 2020-2034 |
| Segmentation |
|
Table of Contents
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. 4.; Rising Demand for Renewable Energy4.; Decreasing Cost per Kilowatt of Electricity Generated Through Wind Energy Sources
- 3.3. Market Restrains
- 3.3.1. 4.; Increasing Installation of Other Renewable Sources Such as Solar Energy
- 3.4. Market Trends
- 3.4.1. Onshore Segment to Dominate the Market
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. North America Wind Power Equipment Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Location
- 5.1.1. Onshore
- 5.1.2. Offshore
- 5.2. Market Analysis, Insights and Forecast - by Equipment Type
- 5.2.1. Rotor/Blade
- 5.2.2. Tower
- 5.2.3. Gearbox
- 5.2.4. Generator
- 5.2.5. Other Equipment Types
- 5.3. Market Analysis, Insights and Forecast - by Geography
- 5.3.1. United States
- 5.3.2. Canada
- 5.3.3. Rest of North America
- 5.4. Market Analysis, Insights and Forecast - by Region
- 5.4.1. United States
- 5.4.2. Canada
- 5.4.3. Rest of North America
- 5.1. Market Analysis, Insights and Forecast - by Location
- 6. United States North America Wind Power Equipment Market Analysis, Insights and Forecast, 2020-2032
- 6.1. Market Analysis, Insights and Forecast - by Location
- 6.1.1. Onshore
- 6.1.2. Offshore
- 6.2. Market Analysis, Insights and Forecast - by Equipment Type
- 6.2.1. Rotor/Blade
- 6.2.2. Tower
- 6.2.3. Gearbox
- 6.2.4. Generator
- 6.2.5. Other Equipment Types
- 6.3. Market Analysis, Insights and Forecast - by Geography
- 6.3.1. United States
- 6.3.2. Canada
- 6.3.3. Rest of North America
- 6.1. Market Analysis, Insights and Forecast - by Location
- 7. Canada North America Wind Power Equipment Market Analysis, Insights and Forecast, 2020-2032
- 7.1. Market Analysis, Insights and Forecast - by Location
- 7.1.1. Onshore
- 7.1.2. Offshore
- 7.2. Market Analysis, Insights and Forecast - by Equipment Type
- 7.2.1. Rotor/Blade
- 7.2.2. Tower
- 7.2.3. Gearbox
- 7.2.4. Generator
- 7.2.5. Other Equipment Types
- 7.3. Market Analysis, Insights and Forecast - by Geography
- 7.3.1. United States
- 7.3.2. Canada
- 7.3.3. Rest of North America
- 7.1. Market Analysis, Insights and Forecast - by Location
- 8. Rest of North America North America Wind Power Equipment Market Analysis, Insights and Forecast, 2020-2032
- 8.1. Market Analysis, Insights and Forecast - by Location
- 8.1.1. Onshore
- 8.1.2. Offshore
- 8.2. Market Analysis, Insights and Forecast - by Equipment Type
- 8.2.1. Rotor/Blade
- 8.2.2. Tower
- 8.2.3. Gearbox
- 8.2.4. Generator
- 8.2.5. Other Equipment Types
- 8.3. Market Analysis, Insights and Forecast - by Geography
- 8.3.1. United States
- 8.3.2. Canada
- 8.3.3. Rest of North America
- 8.1. Market Analysis, Insights and Forecast - by Location
- 9. Competitive Analysis
- 9.1. Market Share Analysis 2025
- 9.2. Company Profiles
- 9.2.1 Emergya Wind Technologies BV
- 9.2.1.1. Overview
- 9.2.1.2. Products
- 9.2.1.3. SWOT Analysis
- 9.2.1.4. Recent Developments
- 9.2.1.5. Financials (Based on Availability)
- 9.2.2 Xinjiang Goldwind Science & Technology Co Ltd
- 9.2.2.1. Overview
- 9.2.2.2. Products
- 9.2.2.3. SWOT Analysis
- 9.2.2.4. Recent Developments
- 9.2.2.5. Financials (Based on Availability)
- 9.2.3 Siemens Gamesa Renewable Energy S A
- 9.2.3.1. Overview
- 9.2.3.2. Products
- 9.2.3.3. SWOT Analysis
- 9.2.3.4. Recent Developments
- 9.2.3.5. Financials (Based on Availability)
- 9.2.4 Enercon GmbH*List Not Exhaustive
- 9.2.4.1. Overview
- 9.2.4.2. Products
- 9.2.4.3. SWOT Analysis
- 9.2.4.4. Recent Developments
- 9.2.4.5. Financials (Based on Availability)
- 9.2.5 Envision Energy
- 9.2.5.1. Overview
- 9.2.5.2. Products
- 9.2.5.3. SWOT Analysis
- 9.2.5.4. Recent Developments
- 9.2.5.5. Financials (Based on Availability)
- 9.2.6 Acciona S A
- 9.2.6.1. Overview
- 9.2.6.2. Products
- 9.2.6.3. SWOT Analysis
- 9.2.6.4. Recent Developments
- 9.2.6.5. Financials (Based on Availability)
- 9.2.7 Vestas Wind Systems AS
- 9.2.7.1. Overview
- 9.2.7.2. Products
- 9.2.7.3. SWOT Analysis
- 9.2.7.4. Recent Developments
- 9.2.7.5. Financials (Based on Availability)
- 9.2.8 General Electric Company
- 9.2.8.1. Overview
- 9.2.8.2. Products
- 9.2.8.3. SWOT Analysis
- 9.2.8.4. Recent Developments
- 9.2.8.5. Financials (Based on Availability)
- 9.2.9 Nordex SE
- 9.2.9.1. Overview
- 9.2.9.2. Products
- 9.2.9.3. SWOT Analysis
- 9.2.9.4. Recent Developments
- 9.2.9.5. Financials (Based on Availability)
- 9.2.1 Emergya Wind Technologies BV
List of Figures
- Figure 1: North America Wind Power Equipment Market Revenue Breakdown (billion, %) by Product 2025 & 2033
- Figure 2: North America Wind Power Equipment Market Share (%) by Company 2025
List of Tables
- Table 1: North America Wind Power Equipment Market Revenue billion Forecast, by Location 2020 & 2033
- Table 2: North America Wind Power Equipment Market Volume K Unit Forecast, by Location 2020 & 2033
- Table 3: North America Wind Power Equipment Market Revenue billion Forecast, by Equipment Type 2020 & 2033
- Table 4: North America Wind Power Equipment Market Volume K Unit Forecast, by Equipment Type 2020 & 2033
- Table 5: North America Wind Power Equipment Market Revenue billion Forecast, by Geography 2020 & 2033
- Table 6: North America Wind Power Equipment Market Volume K Unit Forecast, by Geography 2020 & 2033
- Table 7: North America Wind Power Equipment Market Revenue billion Forecast, by Region 2020 & 2033
- Table 8: North America Wind Power Equipment Market Volume K Unit Forecast, by Region 2020 & 2033
- Table 9: North America Wind Power Equipment Market Revenue billion Forecast, by Location 2020 & 2033
- Table 10: North America Wind Power Equipment Market Volume K Unit Forecast, by Location 2020 & 2033
- Table 11: North America Wind Power Equipment Market Revenue billion Forecast, by Equipment Type 2020 & 2033
- Table 12: North America Wind Power Equipment Market Volume K Unit Forecast, by Equipment Type 2020 & 2033
- Table 13: North America Wind Power Equipment Market Revenue billion Forecast, by Geography 2020 & 2033
- Table 14: North America Wind Power Equipment Market Volume K Unit Forecast, by Geography 2020 & 2033
- Table 15: North America Wind Power Equipment Market Revenue billion Forecast, by Country 2020 & 2033
- Table 16: North America Wind Power Equipment Market Volume K Unit Forecast, by Country 2020 & 2033
- Table 17: North America Wind Power Equipment Market Revenue billion Forecast, by Location 2020 & 2033
- Table 18: North America Wind Power Equipment Market Volume K Unit Forecast, by Location 2020 & 2033
- Table 19: North America Wind Power Equipment Market Revenue billion Forecast, by Equipment Type 2020 & 2033
- Table 20: North America Wind Power Equipment Market Volume K Unit Forecast, by Equipment Type 2020 & 2033
- Table 21: North America Wind Power Equipment Market Revenue billion Forecast, by Geography 2020 & 2033
- Table 22: North America Wind Power Equipment Market Volume K Unit Forecast, by Geography 2020 & 2033
- Table 23: North America Wind Power Equipment Market Revenue billion Forecast, by Country 2020 & 2033
- Table 24: North America Wind Power Equipment Market Volume K Unit Forecast, by Country 2020 & 2033
- Table 25: North America Wind Power Equipment Market Revenue billion Forecast, by Location 2020 & 2033
- Table 26: North America Wind Power Equipment Market Volume K Unit Forecast, by Location 2020 & 2033
- Table 27: North America Wind Power Equipment Market Revenue billion Forecast, by Equipment Type 2020 & 2033
- Table 28: North America Wind Power Equipment Market Volume K Unit Forecast, by Equipment Type 2020 & 2033
- Table 29: North America Wind Power Equipment Market Revenue billion Forecast, by Geography 2020 & 2033
- Table 30: North America Wind Power Equipment Market Volume K Unit Forecast, by Geography 2020 & 2033
- Table 31: North America Wind Power Equipment Market Revenue billion Forecast, by Country 2020 & 2033
- Table 32: North America Wind Power Equipment Market Volume K Unit Forecast, by Country 2020 & 2033
Frequently Asked Questions
1. What is the projected Compound Annual Growth Rate (CAGR) of the North America Wind Power Equipment Market?
The projected CAGR is approximately 6.5%.
2. Which companies are prominent players in the North America Wind Power Equipment Market?
Key companies in the market include Emergya Wind Technologies BV, Xinjiang Goldwind Science & Technology Co Ltd, Siemens Gamesa Renewable Energy S A, Enercon GmbH*List Not Exhaustive, Envision Energy, Acciona S A, Vestas Wind Systems AS, General Electric Company, Nordex SE.
3. What are the main segments of the North America Wind Power Equipment Market?
The market segments include Location, Equipment Type, Geography.
4. Can you provide details about the market size?
The market size is estimated to be USD 56.17 billion as of 2022.
5. What are some drivers contributing to market growth?
4.; Rising Demand for Renewable Energy4.; Decreasing Cost per Kilowatt of Electricity Generated Through Wind Energy Sources.
6. What are the notable trends driving market growth?
Onshore Segment to Dominate the Market.
7. Are there any restraints impacting market growth?
4.; Increasing Installation of Other Renewable Sources Such as Solar Energy.
8. Can you provide examples of recent developments in the market?
November 2022: TPI Composites, Inc. (TPI) signed an agreement with GE Renewable Energy (GE) to allow the former company to secure a ten-year lease extension for its rotor blade manufacturing facility in Newton, Iowa, United States. Under the agreement, GE and TPI planned to develop competitive rotor blade manufacturing options to meet GE's commitments in the United States market, with production expected to commence in 2024. The agreement is a component of the Inflation Reduction Act of 2022's support for important American industries working in the domestic renewable energy sector.
9. What pricing options are available for accessing the report?
Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4750, USD 5250, and USD 8750 respectively.
10. Is the market size provided in terms of value or volume?
The market size is provided in terms of value, measured in billion and volume, measured in K Unit.
11. Are there any specific market keywords associated with the report?
Yes, the market keyword associated with the report is "North America Wind Power Equipment Market," which aids in identifying and referencing the specific market segment covered.
12. How do I determine which pricing option suits my needs best?
The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.
13. Are there any additional resources or data provided in the North America Wind Power Equipment Market report?
While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.
14. How can I stay updated on further developments or reports in the North America Wind Power Equipment Market?
To stay informed about further developments, trends, and reports in the North America Wind Power Equipment Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.
Methodology
Step 1 - Identification of Relevant Samples Size from Population Database
Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Note*: In applicable scenarios
Step 3 - Data Sources
Primary Research
- Web Analytics
- Survey Reports
- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
- Annual Reports
- White Paper
- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
Step 4 - Data Triangulation
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence