GITNUX MARKETDATA REPORT 2024

Steel Wind Turbine Industry Statistics

The steel wind turbine industry is experiencing rapid growth globally, with increasing demand for steel components in the construction of wind turbines contributing to a positive outlook for the industry.

Statistic 1

"Wind power could be a $1 trillion industry by 2040, according to International Energy Agency (IEA)."

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Statistic 2

"In 2021, the global wind turbine market size was valued at USD 81.98 billion."

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Statistic 3

"The onshore wind technology segment dominated the market and accounted for over 92.0% share of the global revenue in 2020."

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Statistic 4

"The market in Asia Pacific dominated the global landscape and accounted for more than 40.9% of the global installed capacity in 2020."

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Statistic 5

"In the U.S., wind turbine technician is the second-fastest-growing occupational group, with an estimated 61% increase from 2019 to 2029."

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Statistic 6

"By 2025, offshore wind energy market is expected to surpass an annual installation of 24 GW."

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Statistic 7

"A modern wind turbine produces 17-20 times more electricity compared with the turbine it replaces and a 97% reduction in CO2 emissions."

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Statistic 8

"On average, a steel wind turbine will have a life-time of 20-25 years."

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Statistic 9

"Around 85% of all parts in a wind turbine, including the tower, are made of steel."

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Statistic 10

"Hawaii currently holds the U.S. record for tallest onshore wind turbine with a total height of 194 meters."

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Statistic 11

"Global wind turbine market size is likely to exhibit a CAGR of 7.2% from 2021 to 2025."

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Statistic 12

"In 2020, wind turbines in the U.S. had a cumulative capacity of over 122 GW."

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Statistic 13

"In 2020, wind energy provided 42% of all new electric generating capacity in the U.S., more than any other source."

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Statistic 14

"The Global Wind Energy Council (GWEC) estimates that by 2030, wind energy will have created over 2.4 million new jobs."

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Statistic 15

"For every MW of wind installed in Europe, 15 jobs are created per year."

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Statistic 16

"In 2020, wind turbines provided Denmark with 49% of its electricity, setting a new record."

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Statistic 17

"According to research by Imperial College London, wind power is now 40% cheaper than gas-fired power plants."

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Statistic 18

"Siemens Gamesa had 15.7 % of the wind turbine market share in 2020."

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