China Dominates Global Wind Market in 2024 – Trade Conflicts and Geopolitical Risks Challenge the Wind Industry
London, UK / Münster, Germamy – The global wind energy market continued to expand in 2024, but growth was largely driven by a handful of key markets—foremost among them, China. While positive developments are evident, mounting political and economic tensions are increasingly acting as obstacles. Overall, new installations in 2024 reached only the same level as in the previous year, 2023.
Record Year Marked by Global Disparities
With 117,000 MW (117 GW) of new wind capacity installed in 2024, the global wind industry matched the growth of 2023 (116.6 GW). Onshore wind accounted for the majority, with 109,000 MW (109 GW) installed, while offshore wind saw 8,000 MW (8 GW) of new capacity. This brings the total installed global wind capacity to 1,136,000 MW (1,136 GW), according to GWEC data.
Despite 55 countries installing new wind turbines in 2024, growth remained unevenly distributed, concentrated in a small group of established markets.
By far the most important market in 2024 was China, adding an impressive 80 GW (75.8 GW onshore, 4 GW offshore), accounting for nearly 70 percent of the global market volume. Following China, the top contributors were the United States (approx. 4,060 MW), Germany (approx. 4,020 MW), India (3,420 MW), and Brazil (3,280 MW), according to the GWEC ranking.
Political Risks and Trade Barriers Weigh on Investment
Despite overall positive market numbers, GWEC issues a stark warning about increasing political risks. “Wind energy continues to drive investment and jobs, improve energy security and lower consumer costs, we are seeing a more volatile policy environment in some parts of the world, including ideologically driven attacks on wind and renewables and the halting of under construction projects, threatening investment certainty,” said GWEC CEO Ben Backwell.
Additional uncertainty is being fueled by escalating trade conflicts and protectionist measures, GWEC warns. “The aggressive stoking of tariff wars adds further uncertainty to international investment decisions and threatens to disrupt the international supply chains which the wind industry relies on,” Backwell added. The full impact of newly imposed or threatened tariffs—especially on key materials like steel—remains difficult to assess.
GWEC is calling for stable regulatory frameworks, streamlined permitting processes, and transparent auction systems. Policymakers worldwide must establish stable and predictable market mechanisms and work collaboratively with investors and the industry, Backwell emphasized.
Offshore Wind Gaining Momentum
A standout development in 2024, according to GWEC, is the strong momentum emerging in offshore wind. In 2024, project awards for offshore wind capacity totaled a record-setting 56,300 MW (56.3 GW). Europe (23.2 GW) and China (17.4 GW) led the way. Significant milestones were also achieved in markets such as South Korea (3.3 GW), Taiwan (2.7 GW), and Japan (1.4 GW).
Positive Outlook Through 2030
Despite the challenging global environment and economic headwinds, GWEC has only slightly revised its short-term global forecast for 2024 downward, while maintaining an optimistic outlook for continued wind sector growth. Ensuring energy security while fighting climate change through renewable energy remains a top priority for much of the world. As a result, the underlying fundamentals driving the global energy transition remain strong, reinforcing GWEC’s positive outlook for wind power.
By 2030, GWEC currently forecasts an average annual growth rate of 8.8 percent, representing an additional 981 GW of new wind capacity by 2030. Based on GWEC’s market analysis, new record years are expected continuously through 2030, with the following annual additions: 2025: 138 GW, 2026: 140 GW, 2027: 160 GW, 2028: 167 GW, 2029: 183 GW, 2030: 194 GW
The offshore share is projected to nearly double between 2025 and 2030—from around 16 GW to 34 GW—raising offshore’s contribution to annual additions from 11.8% to 17.5%.
Note on GWEC Data
The figures published by GWEC may differ from the official wind energy statistics of individual countries. For example, there is currently no official 2024 figure for the U.S. wind energy market. In Germany, the GWEC figure (approx. 4,020 MW) differs slightly from the installation data published by the IWR based on the Federal Network Agency’s Market Master Data Register (2024: 4,060.8 MW as of June 1, 2025).
Source: IWR Online, 05 Jun 2025