Europe Large Wind Turbine Market

Europe Large Wind Turbine Market Analysis

The Europe Large Wind Turbine Market size is estimated at USD 4.73 billion in 2025, and is expected to reach USD 7.89 billion by 2030, at a CAGR of 10.77% during the forecast period (2025-2030).

• Over the medium term, factors such as increasing investments in wind power projects and favorable government policies are anticipated to drive the Europe large wind turbine market during the forecast period.
• On the other hand, the growing adoption of alternate sources of clean power generation, mainly natural gas power and solar power is expected to hamper the demand for the Europe large wind turbine market during the forecast period.
• Nevertheless, the offoshore wind energy projects development are expected to create considerable opportunities for the Europe large wind turbine market during the forecast period.
• Germany is expected to dominate the large turbine wind market in recent years. It is expected to witness significant market growth in the forecast period due to the increasing wind energy projects coupled with the government's policies.

Europe Large Wind Turbine Market Trends

Onshore Segment to Dominate the Market

• Onshore wind energy power generation technology has evolved over the last five years to maximize electricity produced per megawatt capacity installed and to cover more sites with lower wind speeds. Besides this, in recent years, wind turbines have become more extensive with taller hub heights, broader diameters, and larger wind turbine blades.
• In Europe, over 81% of the new wind installations were the onshore wind, with around 14.05 GW. Sweden, Germany, and Turkey are building the most onshore wind installations. In 2022, Germany was the European leader in terms of investment in new wind farms. That year, Germany invested USD 2.6 billion in new wind projects, all of which went toward onshore wind installations.
• During the past year, Sweden has seen a record number of wind installations as onshore installations have more than doubled year-over-year. Sweden now has the most onshore wind capacity in Europe, with 2.1 GW of new onshore installations.
• In July 2022, a project was announced in Sweden to build a new 277 MW wind farm starting in 2025. Three companies will be in charge of the project; Siemens Gamesa, Arise and Foresight are likely to collaborate on a new project in Sweden.
• Sweden government has planned to increase the share of renewable energy in the power mix to 40% by 2030. The government announced an increase in the expenditure on renewables, from USD 5.4 billion to USD 8.7 billion annually. This, in turn, is likely to aid the growth of the large wind turbine rotor market during the forecast period.
• Furthermore, according to WindEurope, onshore wind energy will lead the market demand in the European region to achieve net-zero carbon emissions by 2030. According to GWEC, onshore wind energy capacity takes around 90% of the total wind energy. The strict government regulations to reduce carbon emissions and phase out conventional power systems are expected to drive the market.
• Thus, such developments in the region are expected to support the large wind turbine market during the forecast period.

Germany to Dominate the Market

• Germany is rich in wind power generation. Growing wind power plants in the offshore area are becoming a lucrative market due to higher wind speed in comparison to onshore wind. Thus, offshore wind-based electricity generation is expected to witness significant growth.
• Also, the German government, coastal states, and transmission system operators (TSOs) have agreed on a joint plan to expand offshore wind development in the North and Baltic Seas and lift the country's offshore installed capacity target to 20 GW by 2030. This in turn culminates in the growth of the large wind turbine rotor market.
• According to WindEurope, as of 2021, 236 GW of wind energy capacity is installed in Europe. Germany continues to have the largest installed capacity, followed by Spain, the United Kingdom, France, and Sweden.
• At the end of the year 2022, there were a total of 28,443 onshore wind turbines in Germany. Also, 551 new onshore wind turbines with a capacity of 2.4 GW were newly installed in the year 2022. The total installed capacity of onshore wind energy is 58.106 GW.
• The amount of electricity generated from wind power in the European Union (EU) totaled 419.5 terawatt hours in 2022. This was an increase of about 8.4 percent in comparison to the previous year. Among EU member states, Germany produced the most electricity from wind power, generating nearly 125 terawatt hours that same year..
• In June 2022, the German Parliament adopted a new Onshore Wind Law, i.e., WindLandG, which aims to develop onshore wind-based power plants by a massive 10 GW a year starting from 2025. It's part of Germany's "Easter Package" of measures that enshrines the principle that the expansion of renewables is a matter of overriding public interest.
• Therefore considering the above-mentioned points, Germany is likely to dominate the market during the forecast period.

Europe Large Wind Turbine Industry Overview

Europe Large Wind Turbine Market is semi fragmented. Some of the key players in the biogas market (not in particular order) include Vestas Wind Systems A/S, Nordex SE, Siemens Gamesa Renewable Energy S.A., Enercon GmbH, and General Electric Company, among others.

Europe Large Wind Turbine Market Leaders

Europe Large Wind Turbine Market News

• In June 2023, TURBO, the European Union-funded research and innovation project, announced that it is working to minimize wind turbine blade defect formation through advanced process simulation, monitoring, and control. The project will introduce innovative non-destructive testing methods for defect identification and develop new repair strategies for composites and coatings. By combining cutting-edge multi-physics process modeling and reduced order models
• October 2022: Enlight Renewable Energy Ltd., an Israeli renewable energy developer, announced the start of commercial production on the first of 60 wind turbines that compose the 372-MW Bjornberget wind farm in Sweden. The wind farm uses Siemens Gamesa 6.2-MW turbines.