North America Wind Power Market Size (2024 - 2029)

North America Wind Power Market Analysis

The North America Wind Power Market size is estimated at 184.67 gigawatt in 2024, and is expected to reach 232.89 gigawatt by 2029, growing at a CAGR of 4.74% during the forecast period (2024-2029).

• Over the long term, major factors attributing to the growth of the market include favorable government policies, the increasing investment in wind power projects, and the reduced cost of wind energy, which led to increased adoption of wind energy.
• On the other hand, the increasing adoption of alternate energy sources, such as gas-based power and solar power, is likely to hinder the market growth in the region.
• Nevertheless, despite potential short-term challenges, the North American wind energy power industry is projected to grow substantially, with both onshore and offshore wind installations. Industry experts anticipate that technological advances, particularly in floating offshore wind platforms, will unlock a vast potential along the Pacific coast and deeper Atlantic waters.
• The United States had the highest installed capacity in the region, and it is expected to be the largest market during the forecast period, bolstered by constant growth in onshore wind power additions and upcoming offshore wind power projects.

North America Wind Power Industry Segmentation

Wind power is a renewable energy source that harnesses the energy of wind to generate electricity. It is usually generated using a wind turbine. Wind turbines are mechanical systems that convert kinetic energy into electrical energy. Wind power is sustainable and has a much smaller environmental impact than fossil fuels.

The North American wind power market is segmented by onshore and offshore. The report also covers the market size and forecasts across major countries. For each segment, the market size and forecasts have been done based on installed capacity in gigawatts (GW).