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Pulished Date December, 2020
ID: 10502
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Wind Tower Market Segmentation ByType (Concrete, Lattice, Tubular Steel, Hybrid Towers), By Application (Onshore and Offshore), and Region - Industry Forecast of 2020 to 2025

Pulished: December, 2020
ID: 10502
Pages: 175

Wind Tower Market Size, Share, Growth Analysis:

In 2020, the global wind tower market is estimated to be worth $ 26,140.7 million and is predicted to experience a CAGR of 7.8% over the foreseen period.

Wind towers find their use primarily in hot, dry climates. It is employed primarily for the purpose of generating a cooling effect. A prerequisite for the use of the wind tower is that the site where the wind tower is installed must have a fairly constant and good wind speed. A wind tower works in different ways. In addition, it also works in the presence and absence of wind and according to the time of day. Wind towers are tall buildings that support wind turbines and their parts. The tower contains the turbine rotor and nacelle, as well as the blades to safely clear the ground. The wind turbine is positioned at an optimal height to produce electrical energy from the wind. Larger capacity turbines require high wind speed. Therefore, for efficient power generation, the height of the wind tower is a vital factor as the wind speed increases with the height of the turbine. Also, tall towers have less turbulence, thus maximizing the performance of tall wind power plants. The structure and the nacelle are the main factors when choosing a wind turbine. In addition, the material employed, the weight and the size of the turbine are the main factors on which the resistance of the turbine depends.

Wind Tower Market Trends:

Wind is considered one of the cleanest sources of electricity generation and is experiencing a steady increase in call. This factor is likely to drive the worldwide market for wind towers for years to come. Wind turbines use wind energy for the production of electricity. The energy found in the wind is capable of turning the blades around a rotor, which is attached to the main shaft that rotates around a generator for the production of electricity. A wind tower functions as a support structure for the wind turbine and other components of the wind turbine.

Wind Tower Recent Developments in Industry:

  • Denmark-based wind company Vestas announced that it has launched a new turbine variant optimized for low and ultra-low wind project conditions in India. The turbine would be manufactured and purchased locally in the country.
  • Siemens Gamesa Renewable Energy has declared that it has introduced its latest turbine, in the Indian onshore wind industry. Siemens said that the new wind turbine is specially designed and optimized for the wind conditions in India and aims to offer the lowest possible cost of energy (LCoE) with high reliability.

Wind Tower Market Drivers

To reduce dependence on conventional energy sources, various governments in all regions are looking for an alternative energy source. Since wind power is one of the most efficient alternatives to conventional fossil fuel-based energy, the industry is predicted to see strong expansion during the foreseen period. The expansion of the worldwide market for wind towers is driven by the modernization of the wind power generation segment, as well as government policies that provide an enabling environment for wind power generation. In addition, ongoing projects also add momentum to the global wind tower market during the evaluation period. Various government initiatives are promoting the use and awareness of the benefits of using wind energy, which is likely to act as a stimulus for the worldwide market for wind towers. The expansion of this sector is due to the escalatingcall for clean and reliable energy to reduce worldwide carbon emissions and maintain the ecological balance by producing electricity from renewable resources.

Wind Tower Market Restraints:

The high initial investment cost of projects with high maintenance costs and logistical problems can hamper the market for wind towers.

Wind Tower Market Opportunities:

The global wind tower market has created immense job opportunities for skilled workforce worldwide. Wind tower manufacturing requires a skilled workforce, which creates an opportunity for skilled workers in electrical engineering, mechanical engineering, civil engineering, and various other fields of manufacturing. This, combined with the depletion of fossil fuels and the escalatingcall for environmentally friendly energy sources, indirectly creates many opportunities for market expansion.

Wind Tower Market Challenges:

The wind tower market exhibits some moderation, for example, high initial speculations, transportation and coordination problems, lack of talented workforce, and the capricious nature of the wind. These elements can constitute a roadblock in the expansion of the worldwide market for wind turbine towers.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2019 – 2025

Base Year

2019

Forecast Period

2020 - 2025

CAGR

7.8%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

Vestas Wind Systems A/S, CS Wind Corporation, Siemens AG, WINDAR Renovables, Trinity Structural Towers, Inc., ENERCON GmbH, Shanghai Taisheng Wind Power Equipment Co. Ltd., KGW SchwerinerMaschinen-und Anlagenbau GmbH, Suzlon Energy Limited and General Electric Company.

Wind Tower Market

Wind Tower Market Segmentation:

By type of towers:

  • Concrete
  • Lattice
  • Tubular steel
  • Hybrid towers

Tubular steel towers are currently the industry standard, but the use of hybrid towers is also escalating with the development of lighter but stronger materials.

By application type:

  • Onshore
  • Offshore

With land becoming a precious commodity, many wind farms now move across the oceans. This will result in higher call for offshore wind towers, allowing this segment to show a higher expansion rate than the onshore segment.

Wind Tower Regional Analysis:
The Wind Tower Report includes the segmentation of Regions with their respective Countries.

  • North America 
  • Europe 
  • Asia Pacific
  • Latin America 
  • Middle East & Africa 

 Geographically, Asia-Pacific is a major revenue generator for the worldwide wind power market, where China, Japan and India are considered the top countries due to electricity call, rapid urbanization and technological advances. Investments in wind towers are based on the nacelle and the turbine. The strength and stability of a wind tower are influenced by material and weight. The market is mainly influenced by the design of a wind tower. Therefore, wind towers for onshore applications are markedly different from towers for offshore use. Currently, wind energy is in anexpansion phase. This is due to the escalatingcall for electricity, worldwide initiatives to use more renewable and unconventional energy sources and the need to limit carbon emissions. European governments and the EU as a whole have supported wind projects with favorable incentives, as part of their carbon reduction targets. The Europe region is currently the market leader for wind towers, followed by North America. Asia-Pacific is supposed to grow during the foreseen period for many reasons. Factors include escalating wind power generation capacity, strict environmental regulations for emissions from the combustion of conventional fuels, promotingcall for larger blades, and escalated government support for wind power projects. China currently has the most wind energy projects in the planning and construction stages, followed by Japan and South Korea.

Wind Tower Market Key Players:

Leading players in the global wind tower market include

1) Vestas Wind Systems A/S

2) CS Wind Corporation, Siemens AG

3) WINDAR Renovables

4) Trinity Structural Towers, Inc.

5) ENERCON GmbH

6) Shanghai Taisheng Wind Power Equipment Co. Ltd.

7) Suzlon Energy Limited

8) General Electric Company

 

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Key Player Benchmarking                     

                                5.1.1 Market share analysis        

                                5.1.2 Products/Service  

                                5.1.3 Regional Presence               

                5.2 Mergers & Acquistion Landscape                      

                5.3 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Wind Tower Market, By Type                             

                                6.1.1 Concrete  

                                6.1.2 Lattice       

                                6.1.3 Tubular Steel          

                                6.1.4 Hybrid Towers       

                                6.1.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.6 Y-o-Y Growth Rate Analysis             

                                6.1.7 Market Attractiveness Index          

                6.2 Wind Tower Market, By Application                

                                6.2.1 Onshore   

                                6.2.2 Offshore  

                                6.2.3 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.4 Y-o-Y Growth Rate Analysis             

                                6.2.5 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2018 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Type    

                                7.2.3 By Application        

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Type    

                                7.3.3 By Application        

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Type    

                                7.4.3 By Application        

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Type    

                                7.5.3 By Application        

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Type    

                                7.6.3 By Application        

8. Key Player Analysis                                    

                8.1 Vestas Wind Systems A/S                    

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2 CS Wind Corporation                              

                8.3 Siemens AG                               

                8.4 WINDAR Renovables                              

                8.5 Trinity Structural Towers, Inc                              

                8.6 ENERCON GmbH                      

                8.7 Shanghai Taisheng Wind Power Equipment Co. Ltd                  

                8.8 KGW Schweriner Maschinen-und Anlagenbau GmbH                             

                8.9 Suzlon Energy Limited                            

                8.10 General Electric Company                  

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Wind Tower Market By Region, From 2020-2025 ( USD Billion )
  2. Global Wind Tower Market By Type, From 2020-2025 ( USD Billion )
  3. Global Concrete Market By Region, From 2020-2025 ( USD Billion )
  4. Global Lattice Market By Region, From 2020-2025 ( USD Billion )
  5. Global Tubular Steel Market By Region, From 2020-2025 ( USD Billion )
  6. Global Hybrid Towers Market By Region, From 2020-2025 ( USD Billion )
  7. Global Wind Tower Market By Application, From 2020-2025 ( USD Billion )
  8. Global Onshore Market By Region, From 2020-2025 ( USD Billion )
  9. Global Offshore Market By Region, From 2020-2025 ( USD Billion )

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