
Global Wind Power : A Promising Future
The global wind power industry is set to experience remarkable growth in the coming years, driven by increased activity in Western markets, Africa, and other regions.
Analyst firm Wood Mackenzie predicts that the cumulative installed capacity of grid-connected wind power will reach an impressive 2.38 terawatts (TW) by the end of 2032, with a compound annual growth rate of 10.1% over the next decade.
Short-Term Obstacles and Long-Term Development .

Despite facing some short-term challenges, such as project cancellations and supply chain issues in the offshore sector, the global wind power market remains resilient.
Wood Mackenzie’s report highlights the positive developments in Western markets, including North America, South America, and Europe, where revisions of national energy and climate plan targets, auction mechanisms, and repowering initiatives are driving growth .
Luke Lewandowski, Vice President of Global Renewables Research at Wood Mackenzie, notes the encouraging activity in these markets, stating, “We are also tracking the progress of huge projects in Africa that are driving growth .
All of these will contribute to mitigating some of the short-term challenges in the global offshore market, especially in China.”
The Rise of Wind Power in Africa .

Africa is emerging as a significant player in the wind power industry.
The continent’s installed renewable energy capacity is projected to grow from about 54 gigawatts in 2020 to over 530 gigawatts by 2040, driven by ambitious clean energy goals and investments.
Wood Mackenzie highlights the advancement of megaprojects in Africa as a key driver of growth in the wind power sector.
To further boost clean energy development in Africa, the United Arab Emirates (UAE) has pledged $4.5 billion will be used to speed up the evolution of clean energy projects.
This investment, led by Abu Dhabi’s clean-energy company Masdar, aims to support the continent’s transition to clean, sustainable energy sources .
Regional Growth Projections .

Wood Mackenzie’s report provides a comprehensive analysis of the growth projections for wind power installations across different regions.
North America
North America is expected to experience steady growth in wind power capacity, with installed cumulative capacity projected to reach 340,000 megawatts by 2032. The region’s annual growth rate is estimated to be 7.6% during this period .
Western Europe
Western Europe is also set to witness substantial growth in wind power installations, with an estimated annual growth rate of 8%. By 2032, the installed cumulative capacity in this region is expected to reach 233,000 megawatts .
Middle East and Africa
The Middle East and Africa region is poised to experience the fastest growth in wind power capacity, with an annual growth rate of 24.1%. Wood Mackenzie projects that the installed cumulative capacity in this region will reach 89,000 megawatts by 2032 .
Latin America
Latin America is another promising market for wind power. The region is expected to achieve an annual growth rate of 7.9% during the forecast period, contributing to the global expansion of wind power capacity .
China’s Dominance
China is anticipated to become the global leader in wind power capacity by 2032, with an installed capacity of 1,080 gigawatts.
However, the offshore wind sector in China currently faces challenges due to the new “Single 30” regulation, global inflation, and supply chain issues.
These factors have resulted in project cancellations and postponements, leading to a temporary slowdown in growth. However, China’s new repowering strategy will likely to enhance the global outlook in the future. contributing to an average annual build of 170 gigawatts between 2026 and 2032 .
Capital Investment and Outlook .

The significant growth projected in the wind power industry necessitates substantial capital investment.
Wood Mackenzie estimates that the total capital expenditure for new wind turbine additions from 2022 to 2032 will amount to $2.5 trillion, with around $850 billion allocated to offshore wind projects.
These investments are crucial for the development and expansion of wind power infrastructure worldwide.
Despite short-term issues in the offshore market, especially in China, long-term trends for cumulative capacity growth in the wind power sector remain positive across all regions.
Luke Lewandowski affirms, “This year and next will be more challenging than predicted earlier in the year, However, long-term trends for cumulative capacity increase across all areas remain highly encouraging” .
conclusion
the global wind power industry is on track to achieve substantial growth in the coming years, fueled by increased activity in Western markets, Africa, and other regions.
Despite short-term challenges, such as project cancellations and supply chain issues, the long-term outlook for cumulative installed capacity remains promising.
With significant capital investments and supportive policies, the wind power sector is poised to play a vital role in the global transition to clean and sustainable energy sources.
References
[2] https://www.thenationalnews.com