MarkNtel Advisors recently published a detailed industry analysis of the US Wind Turbine Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
US Wind Turbine Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The US Wind Turbine Market size has an installed capacity of 1,42,542 MW (with total projects of 1,699) in 2024 and is projected to reach 1,61,821 MW by 2030. Along with this, the market is estimated to grow at a CAGR of around 2.14% during the forecast period. Moreover, the new installation capacity of 2,118 MW in 2024 (across 28 projects) is projected to reach 3,213 MW by 2030 and is estimated to grow with a CAGR of around 7.19% during the forecast period, i.e. 2025-30.
What are the major Driver the US Wind Turbine industry?
Federal and State Renewable Energy Policies – Federal and state renewable energy policies that prioritize sustainability and decarbonization strongly drive the US 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 example, California requires that 60% of its electricity must be generated from renewable sources by 2030, leading to a significant need for wind turbines.
In the same way, Texas, which is already the biggest wind energy producer in the US producing a staggering 28% of wind energy in the U.S. in 2023. Texas is continuing to increase its capacity with initiatives led by the state. 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 US energy transition due to strong regulations from both federal and state governments.
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What segments define the US Wind Turbine market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
· By Rating
o Up to 1 MW – Market Size & Forecast 2020-2030F, USD Million
o 1 MW – 2.5 MW – Market Size & Forecast 2020-2030F, USD Million
o 2.5 MW – 5 MW – Market Size & Forecast 2020-2030F, USD Million
o 5 MW – 10 MW – Market Size & Forecast 2020-2030F, USD Million
o Above 10 MW – Market Size & Forecast 2020-2030F, USD Million
· By Installation
o Offshore – Market Size & Forecast 2020-2030F, USD Million
o Onshore – Market Size & Forecast 2020-2030F, USD Million
· By Component
o Rotator Blade – Market Size & Forecast 2020-2030F, USD Million
o Gearbox – Market Size & Forecast 2020-2030F, USD Million
o Generator – Market Size & Forecast 2020-2030F, USD Million
o Nacelle – Market Size & Forecast 2020-2030F, USD Million
o Others – Market Size & Forecast 2020-2030F, USD Million
· By Application
o Industrial – Market Size & Forecast 2020-2030F, USD Million
o Commercial – Market Size & Forecast 2020-2030F, USD Million
o Residential – Market Size & Forecast 2020-2030F, USD Million
o Utility – Market Size & Forecast 2020-2030F, USD Million
o Others – Market Size & Forecast 2020-2030F, USD Million
According to report, The utility segment is dominating the US Wind Turbine Market by holding approximately 80% share of the total market.
· By Axis Type
o Horizontal – Market Size & Forecast 2020-2030F, USD Million
o Vertical – Market Size & Forecast 2020-2030F, USD Million
According to report, Horizontal axis wind turbines (HAWT) are the primary choice in the US Wind Turbine Market accounting for almost 95% of the entire market as their efficiency and popularity are in large-scale and land-based installations.
Explore the Complete US Wind Turbine Market Analysis Report – https://www.marknteladvisors.com/research-library/us-wind-turbine-market.html
Geographical Analysis: US Wind Turbine Market
o North
o South
o East
o West
US Wind Turbine Market Share & Competitive Landscape:
The US Wind Turbine Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the US Wind Turbine Market are:
- GE Renewable Energy
- NourNET
- Vestas
- EDGNEX Riyadh RUH-1
- ReGen Powertech
- Envision Group
- NextEra Energy
- GE Vernova
- Suzlon Energy Limited
- NORDEX SE
- Goldwind Americas
US Wind Turbine Industry Recent Development:
- November 2024: The U.S. Department of Energy announced four high-voltage direct current (HVDC) transmission research projects to enhance renewable energy integration. The $11 million program aims to reduce transmission costs by 35% by 2035 and promote widespread technology adoption, with funding from DOE offices.
- July 2024: Vestas secured a deal to deliver 60 V150-4.2 MW wind turbines for a 252 MW venture in the United States. The project will be Vestas’ largest order in North America this year.
Questions Addressed in this Study
1.What factors are driving the US Wind Turbine Market growth?
2.How is the US Wind Turbine Market expected to grow over the next five years?
3.What are the key insights into the current trends in the US Wind Turbine Market?
4.What is the current size of the US Wind Turbine Market, and how is it projected to change in the future?
6.What is the future outlook for the US Wind Turbine Market in terms of technological advancements and market expansion?
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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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