United States Wind Power Market Report and Forecast 2024-2032

United States Wind Power Market Size

The United States wind power market is estimated to grow at a CAGR of 6.0% during the forecast period of 2024-2032. The market is being driven by the expansion of on-shore farms.

United States Wind Power Market Outlook

The United States wind power market expansion is being aided by the safety, reliability, and emissions-free nature of wind energy. Between 2020 and 2021, an increase in the number of wind turbine installations in the Midwest and Central region led to a 30% increase in the wind generation capacity of the USA. The provision of attractive government incentives under the Inflation Reduction Act is expected to boost the USA’s transition to clean energy, thereby driving market growth.

Wind energy accounts for 50% of all electricity generation in the USA, with Texas (92.9 TWh) being a leading producer and consumer of wind energy. Iowa, Oklahoma, Kansas, and Illinois are other major wind energy-producing regions. The expansion of the existing infrastructure of wind energy is further expected to drive the United States wind power market development in the coming years.

The Growing Expansion of On-Shore Wind Farms is One of the Crucial United States Wind Power Market Trends

• On-shore wind power is expected to lead the market by type with a CAGR of 6.6%. The cost-effectiveness and scalability of onshore wind farms are creating lucrative United States wind power market opportunities. 

• Offshore wind power follows with a CAGR of 6.3%, reflecting the growing interest in harnessing wind energy from offshore sites, where wind speeds are typically higher and more consistent. 

• Distributed wind power, with a CAGR of 5.7%, maintains steady growth as small-scale wind installations gain popularity for local energy generation, particularly in rural areas. 

• As per the United States wind power industry statistics, the 'Others' category, with a CAGR of 5.4%, includes additional wind power technologies contributing to overall market growth but at a slower pace due to their more specialised applications and higher costs.

The Growing Shift Towards Renewable Energy Sources is Driving the United States Wind Power Market Growth

• Energy generation is projected to dominate the market by application with a CAGR of 6.8%. The United States wind power market value is surging amid the global shift toward renewable energy sources and the increasing need for clean energy solutions. 

• Industrial use follows with a CAGR of 6.4%, supported by the growing demand for sustainable energy to power manufacturing processes and reduce carbon footprints. 

• Commercial use is assessed to grow at a CAGR of 6.1% during the forecast period of 2024-2032. The growing focus of businesses to adopt green energy practices and enhance their sustainability profiles is shaping the United States wind power market dynamics and trends. 

• Residential use, with a CAGR of 5.7%, reflects the rising interest in renewable energy for homes, although growth is somewhat constrained by higher initial costs and the need for policy support. 

• As per the United States wind power market analysis, the 'Others' category, with a CAGR of 5.4%, includes additional applications contributing to the overall market growth but at a slower pace due to their niche or emerging status.

United States Wind Power Market Regional Analysis

• The Far West region is expected to lead the market with the highest CAGR of 6.9% between 2024 and 2032. Favourable wind conditions and strong government incentives for renewable energy projects are boosting the United States wind power market revenue. 

• The Rocky Mountain region follows with a CAGR of 6.5%, supported by vast open spaces ideal for wind power generation and increasing investment in renewable energy infrastructure. 

• The Southwest is projected to grow at a CAGR of 6.2% during the forecast period of 2024-2032. A combination of favourable policies and a growing focus on sustainable energy solutions are driving the United States wind power demand growth. 

• The Southeast region, growing at a CAGR of 5.9%, shows moderate growth due to a mix of rising energy demand and supportive state policies. 

• New England, at 5.6%, reflects steady growth, driven by its commitment to reducing carbon emissions and transitioning to renewable energy sources. 

• The United States wind power market regional statistics show that the Mideast, Plains, and Great Lakes regions, with CAGRs of 5.1%, 4.8%, and 4.5%, respectively, experience slower growth due to varying degrees of market maturity, regulatory environments, and geographic limitations.

Key Questions Answered in This Report:

• How has the United States wind power market performed historically, and what are the growth expectations for the future?

• What are the primary factors influencing demand and growth in the United States wind power market?

• What are the key segments within the United States wind power market, and how are they expected to evolve over the forecast period?

• What are the major challenges and opportunities facing stakeholders in the United States wind power market?

• Who are the key players in the United States wind power market, and what strategies are they employing to maintain a competitive edge?

• What are the regulatory and policy factors influencing the United States wind power market globally or regionally?

• How competitive is the United States wind power market according to Porter's five forces analysis, including factors like bargaining power of buyers and suppliers?

• What are the current trends shaping the United States wind power market landscape, and how are they expected to evolve in the future?

• How are technological advancements impacting the United States wind power market, and what role do innovation and R&D play in driving growth?

• What are the consumer preferences and buying behavior trends influencing the United States wind power market?

• How sustainable are current growth rates in the United States wind power market, and what factors could potentially disrupt these trends?

• What are the regional dynamics within the United States wind power market, and how do they contribute to overall market growth?

• What are the economic factors influencing the United States wind power market, such as GDP growth, inflation rates, and currency fluctuations?

• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the United States wind power market?

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the United States wind power market?

• What are the regulatory and legal frameworks impacting the United States wind power market globally or in key regions?

• How are changing consumer lifestyles and preferences influencing product or service demand within the United States wind power market?

• What are the emerging market trends and niche opportunities within the United States wind power market that stakeholders should be aware of?

• How resilient is the United States wind power market to external shocks or disruptions, such as geopolitical tensions or natural disasters?

• What are the potential barriers to market entry and growth for new players in the United States wind power market?

Key Benefits for Stakeholders:

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the United States wind power market spanning from 2018 to 2032.

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the United States wind power industry.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the United States wind power market.

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the United States wind power market landscape.

Key Highlights of the Report