Enjoy complimentary customisation on priority with our Enterprise License!
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.
Download Report Sample to Unlock the Wind Turbine Tower Market Size for the Forecast Period and Other Important Statistics
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.
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.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
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.
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.
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.
For more insights on the market share of various regions Request PDF Sample now!
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.
To gain further insights on the market contribution of various segments Request a PDF Sample
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.