The global wind tower market size is expected to reach USD 45.72 billion by 2027, exhibiting a CAGR of 8.0% during the forecast period. The rising government initiatives towards sustainable energy sources such as wind energy will positively influence healthy growth of the market during the forecast period, states Fortune Business Insights in a report, titled “Wind Tower Market Size, Share and COVID-19 Impact Analysis, By Type (Steel Tower, Concrete Tower, and Hybrid Tower), By Installation (Onshore, and Offshore), and Regional Forecast, 2020-2027” the market size stood at USD 24.82 billion in 2019.
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The report wind tower market contains:
- Comprehensive Analysis
- Important strategies implemented by competitors
- Global records and market figures
- Dominant regions in terms of revenue and share
- Suzlon Group (India)
- Nordex Group (Germany)
- Broadwind (U.S.)
- Ventower Industries LLC (U.S.)
- Arcosa Inc. (U.S.)
- Windar renovables (Spain)
- Shanghai Taisheng Wind Power Equipment Co., Ltd. (China)
- Dongkuk s&c (South Korea)
- KGW Schweriner Maschinen- und Anlagenbau GmbH (Germany)
- CS Wind Corporation (South Korea)
Surge in Energy Policies to Facilitate Growth
The increasing government measures to preserve depleting fossil fuels can be an essential factor fostering the growth for wind tower market. The ongoing wind power energy projects across the globe will contribute tremendously to the growth of the market in the forthcoming years. For instance, Poland announced new renewable energy law, which will include a feed-in tariff for small wind turbines also. It will include a load of 3 kW, FIT will remain 0.17 euros per kWh, up to 10 kW, the rate will be 0.15 euros/kWh. The growing demand for energy has led to increased infrastructure development activities, which, in turn, will propel the growth of the market. The rising power generation capacities and expansion of power grids will subsequently augur well for the market in the forthcoming years. The rising proclivity towards renewable energy sources for power generation will enable speedy expansion of the market.
Table Of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
Global Wind Tower Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Wind Tower Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Wind Tower Market Analysis (USD Billion), Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
- Steel Tower
- Concrete Tower
- Hybrid Tower
Market Analysis, Insights and Forecast – By Installation
Global Wind Tower Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Wind tower market size stood at USD 24.82 billion in 2019 and is projected to reach USD 45.72 billion by 2027.
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