logo

United States Wind Energy Market Size (2024 - 2029)

The US wind energy market is poised for growth, driven by favorable government policies, increased investment, and reduced costs, which have enhanced the adoption of wind energy. Despite challenges from alternative energy sources like gas and solar power, the market's expansion is supported by the onshore segment's dominance due to cost-effective electricity generation. Technological advancements in offshore wind turbines are also expected to offer significant opportunities, with the US maintaining a leading position in installed capacity and market size during the forecast period.

Home Market Analysis Energy & Power Research Power Research Power Generation Research Renewables Research Wind Power Research US Wind Energy Market Market Size

Market Size of United States Wind Energy Industry

United States Wind Energy Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Volume (2024) 151.40 gigawatt
Market Volume (2029) 197.30 gigawatt
CAGR (2024 - 2029) 5.45 %
Market Concentration Medium

Major Players

United States Wind Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

United States Wind Energy Market Analysis

The United States Wind Energy Market size is estimated at 151.40 gigawatt in 2024, and is expected to reach 197.30 gigawatt by 2029, at a CAGR of 5.45% during the forecast period (2024-2029).

  • Over the medium term, factors such as government funding and federal incentives, including the Inflation Reduction Act (IRA), tax credits and subsidies, investments in wind energy projects, and decreasing cost of wind turbines are expected to drive the growth of the US wind energy market.
  • On the other hand, competition from other renewable energy technologies is expected to hinder the market growth during the study period.
  • The expansion of the wind energy industry in the offshore region is likely to create an opportunity for the market to grow in the coming years.

United States Wind Energy Industry Segmentation

Wind energy is a renewable energy source that harnesses the energy of wind to generate electricity, which 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 compared to fossil fuels.

The US wind energy market is segmented by location into onshore and offshore. The report offers market sizes and forecasts in terms of installed capacity (GW) for all the above segments.

Need A Different Region Or Segment?
Customize Now

United States Wind Energy Market Size Summary

The US wind energy market is poised for significant growth, driven by favorable government policies, increased investments, and the declining cost of wind energy. The market's resilience was evident during the COVID-19 pandemic, which saw continued expansion despite initial disruptions. The onshore segment is expected to dominate the market, supported by advancements in technology and cost reductions in electricity generation. Offshore wind energy, although currently limited, is anticipated to grow with projects like the Vineyard Wind and the Montauk Point installations, highlighting the country's commitment to expanding its renewable energy capacity. The market's growth is further bolstered by the increasing adoption of wind energy as a crucial component in addressing climate change and meeting rising electricity demands.

The US wind energy sector is moderately fragmented, with key players such as Acciona Energia SA, Orsted AS, Duke Energy Corporation, General Electric Company, and Siemens Gamesa Renewable Energy actively participating in the market. The development of large-scale projects, such as Equinor's Empire Wind and the Deerfield 2 wind farm, underscores the sector's potential. These initiatives, along with supportive government policies and strategic partnerships, are expected to enhance the market's trajectory. As the country aims to meet its energy needs through renewable sources, wind energy is set to play a pivotal role in the US energy landscape, contributing significantly to the nation's electricity supply in the coming years.

Explore More

United States Wind Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Installed Capacity and Forecast in GW, until 2029

    3. 1.3 United States Renewable Energy Mix, 2023

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

        1. 1.6.1.1 Supportive Regulations and Tax Incentives Boost Wind Energy Investments

        2. 1.6.1.2 Increasing Investments in Wind Projects

      2. 1.6.2 Restraints

        1. 1.6.2.1 Increasing Competition from Alternate Renewable Energy Technologies

    7. 1.7 Supply Chain Analysis

    8. 1.8 PESTLE Analysis

    9. 1.9 Investment Analysis

  2. 2. MARKET SEGMENTATION - BY LOCATION

    1. 2.1 Onshore

    2. 2.2 Offshore

United States Wind Energy Market Size FAQs

The United States Wind Energy Market size is expected to reach 151.40 gigawatt in 2024 and grow at a CAGR of 5.45% to reach 197.30 gigawatt by 2029.

In 2024, the United States Wind Energy Market size is expected to reach 151.40 gigawatt.

US Wind Energy Market Report Snapshots

Us Wind Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)