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    Asia Pacific Wind Tower Market

    ID: MRFR/E&P/20041-HCR
    128 Pages
    Chitranshi Jaiswal
    September 2025

    Asia Pacific Wind Tower Market Research Report Information By Location (Onshore and Offshore) –and ASIA PACIFIC Market Forecast Till 2032

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    Asia Pacific Wind Tower Market Research Report—Forecast till 2032 Infographic
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    Asia Pacific Wind Tower Market Summary

    The Asia-Pacific Wind Tower market is projected to grow significantly from 45.67 USD Billion in 2024 to 102.34 USD Billion by 2035.

    Key Market Trends & Highlights

    APAC Wind Tower Key Trends and Highlights

    • The Asia-Pacific Wind Tower market is valued at 45.67 USD Billion in 2024.
    • By 2035, the market is expected to reach 102.34 USD Billion, indicating robust growth.
    • The compound annual growth rate (CAGR) for the period from 2025 to 2035 is estimated at 7.61%.
    • Growing adoption of renewable energy technologies due to increasing environmental concerns is a major market driver.

    Market Size & Forecast

    2024 Market Size 45.67 (USD Billion)
    2035 Market Size 102.34 (USD Billion)
    CAGR (2025 - 2035) 7.61%

    Major Players

    Samsung Electronics (KR), Toyota Motor Corporation (JP), Alibaba Group (CN), Tencent Holdings (CN), BHP Group (AU), Reliance Industries (IN), SoftBank Group (JP), Commonwealth Bank of Australia (AU), China Mobile (CN), Nippon Telegraph and Telephone Corporation (JP)

    Asia Pacific Wind Tower Market Trends

      • Increasing deployment of wind tower farms and government policies promote the development of renewables, and investment in wind power projects is driving the market growth.

    The growing presence of renewable energy in the energy mix has led to significant growth in the wind power industry, particularly in the construction of tall wind towers. According to the International Energy Agency (IEA), China remains at the forefront of wind capacity expansion, adding 37 GW in 2022, including 7 GW in offshore farms. The United Kingdom installed nearly 3 GW of Wind Tower capacity in 2022, surpassing the rest of the world combined, except for China. 

    According to the International Renewable Energy Agency (IREA), Asia is projected to emerge as a global frontrunner in wind energy by 2050, accounting for over 60% of the world's installed offshore wind capacity. The Global Wind Energy Council forecasts that by 2030, the offshore wind industry in Asia could have installed up to 100 GW of offshore wind capacity.

    Moreover, several European energy firms are investing in Japan as the country aims to establish the world's third-largest Wind Tower power fleet by 2040. The government is expected to offer tax incentives to encourage private investment amounting to JPY 1.7 trillion (USD 15.9 billion), which is anticipated to positively impact the market.

    The Japanese government unveiled its Wind Tower Industry Vision, aiming to allocate 1 GW of Wind Tower capacity annually through 2030. Additionally, plans are in place for supply chain development and cost reduction strategies to achieve a levelized cost of energy (LCOE) of JPY 8-9/kWh by 2035, with a cumulative capacity target of 30-45 GW by 2040. Thus, driving the Wind Tower market revenue.

    Market Segment Insights

    Wind Tower Location Insights

    The Asia Pacific Wind Tower market segmentation, based on Location, includes Onshore and Offshore. The onshore segment dominated the market. In the past five years, advancements in onshore wind power generation technology have focused on optimizing electricity production per megawatt capacity installed, enabling the coverage of sites with lower wind speeds. As of 2021, Asia recorded 357.574 GW of onshore wind energy installations. Projections suggest that new installations in Asia will surpass 10 GW in 2026 and approach nearly 15 GW by 2030. 

    By 2050, Asia is expected to witness a substantial increase in new wind power installations, with offshore installations reaching 613 GW and onshore installations reaching 2,646 GW—a ninefold increase from current levels. Looking ahead, China's northern regions possess abundant potential for onshore wind energy. Provinces such as Qinghai, Xinjiang, Inner Mongolia, and the northeast region exhibit high power density, with average values ranging between 400 and 600 watts per square meter (W/m²). Most of the new onshore installations are anticipated to be deployed in these areas.

    Figure 1: Asia Pacific Wind Tower Market, by Location, 2023 & 2032 (USD Billion)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Wind Tower Country Insights

    In China, thermal energy sources currently account for nearly 70% of electricity production. However, due to increasing pollution associated with thermal sources, the country is actively transitioning towards cleaner and renewable energy sources. According to the China Energy Portal, from 2014 to 2021, China experienced a compound annual growth rate (CAGR) of 15.71% in total installed wind capacity. As part of its 14th five-year plan spanning from 2021 to 2025, China has set ambitious targets. These include supplying 33% of national power consumption from renewable sources by 2025, with non-hydro renewables contributing 18%. 

    Furthermore, the country aims to achieve a renewable energy generation capacity of 3,300 terawatt-hours (TWh) by 2030. In October 2022, the Chinese government announced plans to develop the world's largest wind farm, with the potential to power the entire nation of Norway. Additionally, Chaozhou, a city in Guangdong province, unveiled plans for a massive 43.3-gigawatt wind energy facility in the Taiwan Strait. 

    In May 2022, the construction of an offshore floating wind power platform commenced at the CNOOC Qingdao construction site in Hainan Province, China, initiated by the China National Offshore Oil Corporation (CNOC). The project is being undertaken by CNOOC Rongfeng Energy Co. Ltd, a subsidiary of CNOOC Beijing's new energy division.

    Figure 2: Asia Pacific Wind Tower Market Share By Country 2023 & 2032 (USD Billion)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Get more detailed insights about Asia Pacific Wind Tower Market Research Report—Forecast till 2032

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    Key Players and Competitive Insights

    Leading market players are investing heavily in research and development to expand their product lines, which will help the Wind Tower market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Wind Tower industry must offer cost-effective items.

    Major players in the Wind Tower market are attempting to increase market demand by investing in research and development operations, including Envision Energy, General Electric Company, Siemens Gamesa Renewable Energy, Suzlon Energy Limited, Xinjiang Goldwind Science & Technology Co. Ltd (Goldwind), Vestas Wind Systems AS, China Longyuan Power Group Corporation Limited.

    Key Companies in the Asia Pacific Wind Tower Market market include

    Industry Developments

    February 2022: Tata Power and RWE, a German electricity generating company, forged a partnership to explore opportunities for jointly developing Wind Tower power plants in India

    December 2022: TagEnergy and Vestas announced a collaboration to provide Engineering Procurement and Construction (EPC) services for the initial phase of the Golden Plains Wind Power Plant, a 756-megawatt project located in Victoria, Australia.

    In October 2024, an MoU was recorded between Dutch companies TWD and IX Renewables as a response to expanding their offshore wind efforts in the APAC region.  IX Renewables will be mainly responsible for Offshore wind development management, while TWD will offer engineering services such as method engineering and equipment design.  The aim of the collaboration is to enhance project delivery from inception to operation with special attention to the growth markets of Taiwan and Japan, both of which are rapidly expanding in the region.

    In November 2024, At the APAC Wind Energy Summit, Corio Generation Corporation (Korea) and Equinor Renewables (Norway) reiterated their commitments to further develop offshore wind energy in these regions.  These companies are actively looking for local partners in South Korea, Japan and Taiwan, which enjoy favorable decarbonization policies as well as advantageous seashore conditions to tap into.

    In November 2024, Ocean Winds partnered with Hyundai Steel to strengthen their partnership aimed at promoting South Korean offshore wind projects.  This partnership will boost the country's aggressive offshore wind energy growth initiatives underpinned by Hyundai Steel's manufacturing capacity and Ocean Winds' offshore experience.

    Moreover, the company entered the offshore wind market in December 2023, when CS Wind, a company that manufactures a substantial number of wind towers, acquired a significant presence within the offshore wind market.  The acquisition was a landmark event because CS Wind was able to expand its operations into the greater global wind market, strengthening its offshore wind tower niche further.  This trend underscores the escalatory dynamics of the offshore wind turbine projects in the APAC region, especially since China and other regional markets Taiwan, Vietnam, and South Korea are still expanding their renewable energy potential​.

    In October 2024, Siemens Gamesa, a significant entity in wind technology, commenced a move to the South Korean market to partake in the development of offshore wind projects in the country.  The construction of the company's wind turbine blades production facility in Incheon is expected to enhance offshore wind capacity goals of 14.3GW by 2030​

    Market Segmentation

    Wind Tower Location Outlook

    • Onshore
    • Offshore

    Wind Tower Regional Outlook

    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Thailand
    • Vietnam
    • Malaysia
    • Singapore
    • Rest of Asia-Pacific

    Report Scope

    Report Attribute/Metric Details
    Market Size 2022 Significant Value
    Market Size 2023 Significant Value
    Market Size 2032 Significant Value
    Compound Annual Growth Rate (CAGR) 11.00% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2019- 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Location and Region
    Region Covered Asia Pacific
    Countries Covered China, Japan, India, Australia, South Korea, Indonesia, Thailand, Vietnam, Malaysia, Singapore, and Rest of Asia-Pacific
    Key Companies Profiled Envision Energy, General Electric Company, Siemens Gamesa Renewable Energy, Suzlon Energy Limited, Xinjiang Goldwind Science & Technology Co. Ltd (Goldwind), Vestas Wind Systems AS, China Longyuan Power Group Corporation Limited
    Key Market Opportunities ·       Declining cost of wind energy and supportive government policies
    Key Market Dynamics ·       Growing emphasis on renewable energy and a growing need to reduce CO2 emissions

    FAQs

    How much is the Wind Tower market?

    The Asia Pacific Wind Tower market size was valued at a Significant Value in 2023.

    What is the growth rate of the Wind Tower market?

    The market is projected to grow at a CAGR of 11.00% during the forecast period, 2024-2032.

    Who are the key players in the Wind Tower market?

    The key players in the market are Envision Energy, General Electric Company, Siemens Gamesa Renewable Energy, Suzlon Energy Limited, Xinjiang Goldwind Science & Technology Co. Ltd (Goldwind), Vestas Wind Systems AS, China Longyuan Power Group Corporation Limited, and others.

    Which Location led the Wind Tower market?

    The Onshore category dominated the market in 2023.

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