Wind Turbine Tower Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The Wind Turbine Tower 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).

Market Snapshot

Wind Turbine Tower Market Summary
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Middle East and Africa
Largest Market: Asia Pacific
CAGR: <1.32 %
Wind Turbine Tower Market Major Players

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Market Overview

The wind turbine tower market is projected to reach USD 14.32 billion by 2027, registering a CAGR of less than 1.32% during the forecast period (2022–2027). With the COVID-19 outbreak in Q1 2020, the growth of the wind turbine tower market was moderately impacted due to delays in manufacturing and supplying of new towers. This factor resulted in financial challenges for major players. The declining cost of wind energy and increasing investments in the wind power sector are the key drivers for this market. However, substitution between the solar energy and gas-fired power plants will continue to restrain the market. The solar energy industry has achieved cost reduction at a significantly higher rate than the wind energy sector.

  • The concrete tower is expected to be the fastest-growing segment in the wind turbine tower market, as it requires low transportation costs, has high strength, and the material required is available locally.
  • Emerging markets such as Africa, which has various geographical locations that could be considered suitable for wind energy deployment, are likely to act as an opportunity in the future.
  • Asia-Pacific dominated the market in 2021, with most of the demand coming from China and India.

Scope of the Report

The scope of the wind turbine tower market report includes:

Tubular Steel Towers
Concrete Towers
Lattice Towers
Guyed Pole Towers
North America
Middle-East and Africa
South America

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Key Market Trends

Concrete Wind Tower to Witness Highest Growth Rate

  • The concrete wind tower segment 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 needed to build these towers is generally available locally.
  • Due to technological advancements, large-capacity wind turbines are becoming more cost-effective. The large turbines are heavier, require large rotors, and are taller. For these types of turbines, the concrete wind tower proves to be more cost-effective than tubular steel towers due to their high strength.
  • As of 2021, global cumulative wind energy installed capacity reached 824,874 MW, comparatively higher than 436,828 MW installed in 2015. The market is growing strongly, which is likely to boost the growth of concrete wind towers.
  • In December 2020, Nordex began the production of concrete wind turbine towers from its new factory in Spain. The concrete tower production facility is built in Motilla del Palancar, in Castilla-La Mancha. The company plans to equip four wind farm projects in Spain with concrete towers.
  • Therefore, the increasing share of large wind turbines, relatively high stability of concrete tower cost, lower transportation requirements, local availability of material for concrete towers, and increased import duty on steel in the United States are expected to be the major drivers for the concrete wind tower market.
Wind Turbine Tower Market: Cumulative Installed Wind Power Capacity, in MW, Global, 2016-2021

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to be one of the promising markets for wind turbine towers in the coming years, owing to 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 2021 was from thermal energy sources. Due to the increasing pollution from thermal sources, the country has been trying to increase the share of cleaner and renewable sources in power generation.
  • As of 2021, India holds the fourth-largest wind power installed capacity globally. These projects are majorly spread in the northern, southern, and western parts of the country.
  • The Indian government has successfully reduced the cost of wind power below the cost of coal-based power, owing to which renewable power has become an attractive market for consumers.
  • In June 2021, Suzlon Group, India's largest renewable energy solutions provider, announced its new order for the development of a 252 MW wind power project from CLP India. Suzlon will install 120 units of S120-140m wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower, with a rated capacity of 2.1 MW each. The project is located in Sidhpur, Gujarat, and is expected to be commissioned by 2022.
  • In July 2021, Danish wind turbine manufacturer Vestas Wind Systems AS signed an agreement to sell its tower factory in Pueblo, Colorado, to South Korean tower maker CS Wind Corp.
  • Therefore, the efforts of Asia-Pacific countries to increase the renewable infrastructure and diversify their energy portfolios 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, 2022-2027

Competitive Landscape

The wind turbine tower market is moderately 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.

Major Players

  1. Trinity Structural Towers Inc.

  2. Valmont Industries Inc.

  3. KGW Schweriner Maschinen- und Anlangenbau GmbH

  4. Broadwind Energy Inc.

  5. Dongkuk S&C

Wind Turbine Tower Market Concentration

Recent Developments

  • In February 2022, Spain’s GRI Renewable Industries signed a Memorandum of Understanding (MoU) with the capital group of Poland’s state Industrial Development Agency (GK ARP) to develop a wind turbine tower factory in the Baltic coast city of Gdańsk

Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD million, till 2027

    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


    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


    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 AS

      7. 6.3.7 CS Wind Corporation

      8. 6.3.8 Vestas Wind Systems AS

      9. 6.3.9 Suzlon Energy Ltd

      10. 6.3.10 Enercon GmbH

    4. *List Not Exhaustive

**Subject to Availability
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Frequently Asked Questions

The Wind Turbine Tower Market market is studied from 2019 - 2027.

The Wind Turbine Tower Market is growing at a CAGR of <1.32% over the next 5 years.

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

Asia Pacific holds highest share in 2021.

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.

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