logo

Wind Turbine Tower Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Type (Tubular Steel Towers, Concrete Towers, Lattice Towers, and Guyed Pole Towers), Deployment (Onshore and Offshore), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

Home Industry Reports Energy & Power Wind Turbine Tower Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 ...

Market Snapshot

Wind Turbine Tower Market - Market Summary
Study Period:

2016 - 2026

Base Year:

2019

Fastest Growing Market:

Middle East and Africa

Largest Market:

Asia Pacific

CAGR:

<1 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The market for wind turbine tower is expected to grow at a CAGR of less than 1% during the forecast period of 2020 – 2025. The declining cost of the wind energy and increasing investments in the wind power sector are the key drivers for this market. On the flipside, substitution from the solar energy and gas-fired power plants are expected to continue to restrain the market. The solar energy industry has achieved the cost reduction at a significantly higher rate than wind energy sector.

  • The concrete tower is expected to be the fastest growing segment in the wind turbine tower market as they require low transportation costs, has high strength and the material required to build these towers is generally available locally.
  • Emerging markets such as Africa which has various geographical locations that could be considered suitable for wind energy deployment is likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market across the globe in 2018, with majority of the demand coming from China and India.

Scope of the Report

The wind turbine tower market include:

Type
Tubular Steel Towers
Concrete Towers
Lattice Towers
Guyed Pole Towers
Deployment
Onshore
Offshore
Geography
Asia-Pacific
North America
Middle-East and Africa
Europe
South America

Report scope can be customized per your requirements. Click here.

Key Market Trends

Concrete Wind Tower to Witness Highest Growth Rate

  • The concrete wind tower is expected to be the fastest growing segment of the wind tower market. These towers have high strength, require low transportation costs, and the material required to build these towers is generally available locally.
  • The large turbines are heavier, require large rotors, and are taller. For these type of turbines, the concrete wind tower proves to be more cost-effective that of tubular steel towers due to their high strength.
  • In March 2018, the United States government announced that it will impose 25% duty on Steel except on imports from Canada and Mexico. Due to the increasing cost of tubular steel towers, operators are expected to prefer the concrete towers whose prices are expected to remain relatively stable.
  • Therefore, factors such as the increasing share of large wind turbines, relatively high stability of concrete tower cost, less transportation requirements, and local availability of material for concrete towers and increased import duty on steel in the US are expected to be the major drivers for concrete wind tower market.
Wind Turbine Tower Market - Revenue Share

To understand key trends, Download Sample Report

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to be one of the promising markets for wind turbine tower in the coming years, on account of the favorable government policies and the efforts to increase the share of cleaner and renewable sources in power generation.
  • In China, nearly 70% of the electricity produced in 2018 was from thermal sources of energy. Owing to the increasing pollution from the thermal sources, the country has been making efforts to increase the share of cleaner and renewable sources in power generation.
  • In the beginning of 2017, the country announced its plan to invest about USD 360 billion on renewable energy by 2020, turning down the plan of building 85 coal-fired power plants.
  • As of 2018, India holds the fourth largest wind power installed capacity in the world. These projects are majorly spread in the Northern, Southern and Western parts of the country.
  • The Indian government has been successful in reducing the cost of wind power below the cost of coal-based power, owing to which renewable power has become an attractive market for the consumers.
  • Therefore the efforts of countries in Asia-Pacific to increase the renewables infrastructure and diversify their energy portfolio are likely to drive the growth of the wind energy sector, further increasing the demand for wind turbine towers during the forecast period.
Wind Turbine Tower Market - Growth Rate by Region

To understand geography trends, Download Sample Report

Competitive Landscape

The wind turbine tower market is fragmented. The major companies include Trinity Structural Towers Inc., Valmont Industries Inc., KGW Schweriner Maschinen- und Anlangenbau GmbH, Broadwind Energy Inc., and Dongkuk S&C.

Wind Turbine Tower Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD million, till 2025

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Tubular Steel Towers

      2. 5.1.2 Concrete Towers

      3. 5.1.3 Lattice Towers

      4. 5.1.4 Guyed Pole Towers

    2. 5.2 Deployment

      1. 5.2.1 Onshore

      2. 5.2.2 Offshore

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

      2. 5.3.2 North America

      3. 5.3.3 Middle-East and Africa

      4. 5.3.4 Europe

      5. 5.3.5 South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Valmont Industries Inc.

      2. 6.3.2 KGW Schweriner Maschinen- und Anlangenbau GmbH

      3. 6.3.3 Broadwind Energy Inc.

      4. 6.3.4 Dongkuk S&C

      5. 6.3.5 Speco Technologies Co. Ltd

      6. 6.3.6 Titan Wind Energy A/S

      7. 6.3.7 CS Wind Corporation

      8. 6.3.8 Vestas Wind Systems A/S

      9. 6.3.9 Suzlon Energy Ltd

      10. 6.3.10 Enercon GmbH

      4. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Wind Turbine Tower Market market is studied from 2016 - 2026.

The Wind Turbine Tower Market is growing at a CAGR of <1% over the next 5 years.

Middle East and Africa is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2019.

  • Trinity Structural Towers Inc.
  • Valmont Industries Inc.
  • KGW Schweriner Maschinen- und Anlangenbau GmbH
  • Broadwind Energy Inc.
  • Dongkuk S&C

Are the major companies operating in Wind Turbine Tower Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!