The wind power industry has experienced a significant increase and popularity in recent times, and the latest statistics indicate that this sector is still thriving. However, one of the essential steps in developing wind energy projects is finding suitable sites for wind farms, which involves understanding the nature of wind speed, wind direction, terrain, and environmental impacts. To predict the wind energy production over the expected lifespan of a wind farm, vertical wind speed extrapolation to the hub height of the wind turbine is necessary. Therefore, this study presents a comprehensive evaluation of seven statistical approaches for vertical wind speed extrapolation, including Generalized Linear Models (GLM), Linear Regression (LR), Support Vector Machines (SVM), Generalized Additive Models (GAM), Gaussian Process Regression (GPR), Regression Tree (RT), and Ensemble Regression (ER). The accuracy of these methods is assessed using performance metrics such as Mean Squared Error (MSE), Root Mean Squared Error (RMSE), Normalized RMSE (NRMSE), Normalized MSE (NMSE), Mean Bias Error (MBE), Mean Absolute Error (MAE), Mean Percentage Error (MPE), Mean Absolute Percentage Error (MAPE), Symmetric Mean Absolute Percentage Error (SMAPE), and R-squared (R2). The study concludes that, on average, GLM performs the best out of all seven statistical methods.