Wind turbine market to grow by $31.4 bn between 2021 and 2026: Technavio

GE renewable energy wind turbines

The size of the wind turbine market is expected to grow by $31.36 billion between 2021 and 2026. But the growth momentum is expected to decelerate at a CAGR of 6.40 percent over the forecast period, says Technavio.

Main vendors in the global wind turbine market include Acciona, Bergey Wind Power, E.ON UK, Eaton, ENERCON, Envision Energy, General Electric, Hitachi, Siemens Gamesa Renewable Energy, and Vestas Wind System.

Countries such as China, the US, Germany, India, and Spain are expected to emerge as major markets for wind turbines during the forecast period.