The global wind sector added a record 127 gigawatts (GW) of new capacity in 2024, according to new figures from the Global Wind Energy Council (GWEC), highlighting the industry’s resilience amid persistent macroeconomic and policy challenges.
The data, published in GWEC’s annual Supply Side Data report, shows that 29 turbine manufacturers mechanically installed 23,098 turbines worldwide last year. Despite inflationary pressures, supply chain disruptions, and regulatory bottlenecks, the wind industry posted its highest-ever annual growth.
“GWEC’s market intelligence team is delighted to report that 127GW capacity of wind turbines were mechanically installed worldwide, despite a year of diverse challenges,” said Feng Zhao, Chief Research Officer at GWEC. “This is a clear sign of the resilience and continuing upward trajectory of the global wind industry.”
According to GWEC forecasts, the sector is expected to continue breaking installation records in the years ahead. However, the organisation warned that further progress hinges on structural reforms and stronger policy support.
“Governments need to urgently take action to kick start a much faster transition to renewables and remove barriers to deployment and investment,” said GWEC CEO Ben Backwell. “This means cutting red tape and bureaucracy, fast-tracking grid investments and ensuring that markets adequately remunerate green energy instead of subsidising fossil fuels.”
The 2024 installations were driven in large part by strong growth in China, where domestic manufacturers led global rankings. For the first time, all of the top four wind turbine suppliers by global capacity were Chinese companies, with Denmark’s Vestas taking fifth place. European suppliers, however, retained dominance within Europe, holding a 92% market share—up from 88% in 2023.
While some turbine manufacturers returned to positive EBIT margins for the first time since 2021, more than half of western and several Chinese suppliers continued to report year-on-year declines in net profit.
GWEC called for urgent action to accelerate deployment rates to meet long-term climate targets, noting that annual installations need to reach 380GW by the end of the decade to stay on track. The report emphasised the need to address supply chain bottlenecks, improve market design, and provide greater certainty for project development.
Backwell added: “We can rapidly deploy wind energy, and deliver the benefits of a clean, secure and abundant energy system if we scale up investment and reach the right level of installations… The industry stands ready to deliver—help it accelerate deployment.”
