Wind Turbine Tower Market by Application and Geography - Forecast and Analysis 2022-2026

Published: Sep 2022 Pages: 132 SKU: IRTNTR74387

The wind turbine tower market share is expected to increase by USD 7.68 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.35%.

This wind turbine tower market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers wind turbine tower market segmentation by application (onshore and offshore) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The wind turbine tower market report also offers information on several market vendors, including Arcosa Inc., Bergey Wind Power Co., Bouygues Construction SA, Broadwind Energy Inc, CS WIND Corp., Dongkuk S and C, KGW Schweriner Maschinen und Anlagenbau GmbH, Marmen Inc., Modvion AB, Nordex SE, NRG Systems, Red Rock Automation Ltd, Renewtech LLC, Shanghai Taisheng Wind Power Equipment Co. Ltd., Suzlon Energy Ltd, thyssenkrupp AG, Valmont Industries Inc., Ventower Industries, and Windar Renovables among others.

What will the Wind Turbine Tower Market Size be During the Forecast Period?

Download Report Sample to Unlock the Wind Turbine Tower Market Size for the Forecast Period and Other Important Statistics

 

Wind Turbine Tower Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the wind turbine tower market. During the COVID-19 pandemic, the wind turbine tower market demand has been impacted significantly. A holistic analysis of drivers will help in exact demands and refining marketing strategies to gain a competitive advantage.

Key Wind Turbine Tower Market Driver

An increase in rotor diameter is one of the key drivers supporting the wind turbine tower market growth. The increase in the diameter of wind turbine rotors has a corresponding impact on the power generated by wind turbines. For the rotor to function effectively, a minimum and a maximum wind speed are required based on which the size of the rotor chosen. Also, fewer turbines will result in lower maintenance costs and lower environmental impact. Therefore, the introduction of new turbine rotor sizes for onshore and offshore wind energy projects will require taller and sturdier turbine towers, which will drive the growth of the market during the forecast period.

Key Wind Turbine Tower Market Trend

An increase in demand for clean power is one of the key wind turbine tower market trends contributing to the market growth. Harnessing renewable energy offers a reliable, affordable, and secure way of energy generation. It is an excellent alternative to reducing the emission of hazardous gases and promoting clean power generation. Additionally, harnessing wind energy has become less costly as the prices for designing wind turbines have declined on a global scale. Over the years, the demand for harnessing energy from other renewable forms such as solar and hydropower has increased. Although initially, they were considered expensive, these forms of energy have gained importance as they are generating a substantial amount of revenue. These factors will contribute to the market growth during the forecast period.

Key Wind Turbine Tower Market Challenge

The development of airborne wind turbines is one of the factors hampering the wind turbine tower market growth. Airborne wind turbines can be deployed using kites, drones, and balloons. The speed of the wind rises with an increase in altitude, and therefore, airborne wind turbines can effectively harness wind power for optimized power generation. Also, building airborne wind turbines to harness power is relatively less costly than installing onshore and offshore wind turbines for power generation. Therefore, the development of airborne wind turbines is projected to reduce the costs associated with renewable power generation. Therefore, the growing adoption of airborne wind turbines will pose a significant challenge to both the onshore and offshore wind turbine markets and the global wind turbine tower market.

This wind turbine tower market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global wind turbine tower market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the wind turbine tower market during the forecast period.

Who are the Major Wind Turbine Tower Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Arcosa Inc.
  • Bergey Wind Power Co.
  • Bouygues Construction SA
  • Broadwind Energy Inc
  • CS WIND Corp.
  • Dongkuk S and C
  • KGW Schweriner Maschinen und Anlagenbau GmbH
  • Marmen Inc.
  • Modvion AB
  • Nordex SE
  • NRG Systems
  • Red Rock Automation Ltd
  • Renewtech LLC
  • Shanghai Taisheng Wind Power Equipment Co. Ltd.
  • Suzlon Energy Ltd
  • thyssenkrupp AG
  • Valmont Industries Inc.
  • Ventower Industries
  • Windar Renovables

 

This statistical study of the wind turbine tower market encompasses successful business strategies deployed by the key vendors. The wind turbine tower market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Arcosa Inc. - The company offers the construction of wind turbine towers that provide fabricated steel internal components through a house manufacturing facility. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this report provides a detailed analysis of several leading Companies.

Wind Turbine Tower Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the wind turbine tower market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Wind Turbine Tower Market?

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36% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the wind turbine tower market in APAC. Market growth in this region will be slower than the growth of the market in the Middle East and Africa and Europe.

The increase in wind energy harvesting as an alternative source of energy production will facilitate the wind turbine tower market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The market in focus in APAC was negatively impacted by the COVID-19 pandemic. However, the removal of lockdowns, owing to large-scale vaccinations conducted in 2021, resulted in the resumption of operations in wind power generation facilities. Therefore, the regional market is expected to witness growth during the forecast period.

What are the Revenue-generating Application Segments in the Wind Turbine Tower Market?

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The wind turbine tower market share growth in the onshore segment will be significant during the forecast period. The growing number of onshore wind energy deployments is attributable to the improvements in the operational efficiency of wind turbines and the reduction in their prices. This is being triggered by the global need to harness renewable energy sources and reduce carbon emissions.

This report provides an accurate prediction of the contribution of all the segments to the growth of the wind turbine tower market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Wind Turbine Tower Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.35%

Market growth 2022-2026

$7.68 billion

Market structure

Fragmented

YoY growth (%)

4.67

Regional analysis

APAC, North America, Europe, the Middle East and Africa, and South America

Performing market contribution

APAC at 36%

Key consumer countries

US, China, India, Germany, and Spain

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

Arcosa Inc., Bergey Wind Power Co., Bouygues Construction SA, Broadwind Energy Inc, CS WIND Corp., Dongkuk S and C, KGW Schweriner Maschinen und Anlagenbau GmbH, Marmen Inc., Modvion AB, Nordex SE, NRG Systems, Red Rock Automation Ltd, Renewtech LLC, Shanghai Taisheng Wind Power Equipment Co. Ltd., Suzlon Energy Ltd, thyssenkrupp AG, Valmont Industries Inc., Ventower Industries, and Windar Renovables

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Wind Turbine Tower Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive wind turbine tower market growth during the next five years
  • Precise estimation of the wind turbine tower market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the wind turbine tower industry across APAC, North America, Europe, the Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of wind turbine tower market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Onshore - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Onshore - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Onshore - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Onshore - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Onshore - Year-over-year growth 2021-2026 (%)
    • 5.4 Offshore - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Offshore - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Offshore - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Offshore - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Offshore - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 36: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 India - Market size and forecast 2021-2026
      • Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.12 Spain - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Spain - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Spain - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Spain - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Spain - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 82: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 85: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 86: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 87: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 88: Matrix on vendor position and classification
            • 10.3 Arcosa Inc.
              • Exhibit 89: Arcosa Inc. - Overview
              • Exhibit 90: Arcosa Inc. - Business segments
              • Exhibit 91: Arcosa Inc. - Key offerings
              • Exhibit 92: Arcosa Inc. - Segment focus
            • 10.4 Bergey Wind Power Co.
              • Exhibit 93: Bergey Wind Power Co. - Overview
              • Exhibit 94: Bergey Wind Power Co. - Product / Service
              • Exhibit 95: Bergey Wind Power Co. - Key offerings
            • 10.5 Bouygues Construction SA
              • Exhibit 96: Bouygues Construction SA - Overview
              • Exhibit 97: Bouygues Construction SA - Product / Service
              • Exhibit 98: Bouygues Construction SA - Key offerings
            • 10.6 Broadwind Energy Inc
              • Exhibit 99: Broadwind Energy Inc - Overview
              • Exhibit 100: Broadwind Energy Inc - Business segments
              • Exhibit 101: Broadwind Energy Inc - Key offerings
              • Exhibit 102: Broadwind Energy Inc - Segment focus
            • 10.7 CS WIND Corp.
              • Exhibit 103: CS WIND Corp. - Overview
              • Exhibit 104: CS WIND Corp. - Product / Service
              • Exhibit 105: CS WIND Corp. - Key offerings
            • 10.8 Dongkuk S and C
              • Exhibit 106: Dongkuk S and C - Overview
              • Exhibit 107: Dongkuk S and C - Product / Service
              • Exhibit 108: Dongkuk S and C - Key offerings
            • 10.9 Marmen Inc.
              • Exhibit 109: Marmen Inc. - Overview
              • Exhibit 110: Marmen Inc. - Product / Service
              • Exhibit 111: Marmen Inc. - Key offerings
            • 10.10 Suzlon Energy Ltd
              • Exhibit 112: Suzlon Energy Ltd - Overview
              • Exhibit 113: Suzlon Energy Ltd - Business segments
              • Exhibit 114: Suzlon Energy Ltd - Key offerings
              • Exhibit 115: Suzlon Energy Ltd - Segment focus
            • 10.11 thyssenkrupp AG
              • Exhibit 116: thyssenkrupp AG - Overview
              • Exhibit 117: thyssenkrupp AG - Business segments
              • Exhibit 118: thyssenkrupp AG - Key news
              • Exhibit 119: thyssenkrupp AG - Key offerings
              • Exhibit 120: thyssenkrupp AG - Segment focus
            • 10.12 Windar Renovables
              • Exhibit 121: Windar Renovables - Overview
              • Exhibit 122: Windar Renovables - Product / Service
              • Exhibit 123: Windar Renovables - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 124: Inclusions checklist
                • Exhibit 125: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 126: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 127: Research methodology
                • Exhibit 128: Validation techniques employed for market sizing
                • Exhibit 129: Information sources
              • 11.5 List of abbreviations
                • Exhibit 130: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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