Global Wind Market Status

In recent years, the global wind market has enjoyed strong growth. In 2021, installed global wind capacity reached 835GW, up 15% from 2020. At the same time, global turbine manufacturing capacity reached almost 150GW. At the Renewables and Low Carbon Supply Chain conference on the 10th March 2022, Rystad determined that further commitment is required from turbine suppliers and manufacturers in the long term to reach climate targets.

The turbines themselves contribute significantly to wind project expenditures both onshore and offshore. In 2021, they made up the largest single cost item, followed by the foundations (offshore) and OPEX (onshore). In the last three years, blade manufacturing capacity has grown rapidly, with China contributing almost 60% of capacity in 2021.