Wind Tower Market Global Market Growth, Size, Trends, Insights and 2023 Forecast

Wind Tower Market Research Report- Forecast to 2023

Wind Tower Market Global Market Growth, Size, Trends, Insights and 2023 Forecast

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Copyright Š 2018 Market Research Future.

Wind Tower Market Research Report- Forecast to 2023

1 Summary As a proven source of clean and affordable energy, wind resources clearly have a vital role to play in realizing these goals. With proper planning and mitigation measures, it is possible to construct offshore/ onshore wind without damaging the environment. The market for wind towers, which forms a major part of a wind turbine system both cost wise and size wise, is directly related to the market for wind turbines.

The shift towards clean renewable energy is the main driver for the wind energy market, and therefore the turbine tower market. The global wind tower market is expected to reach more than USD 26 Billion by 2023 with a CAGR of 7.45%.

Key Players: The key players of global wind tower market are Suzlon Energy Limited (India), Enercon GmbH (Germany), CS Wind Corporation (South Korea), General Electric (U.S.), Siemens AG (Germany), Trinity Structural Towers, Inc. (U.S.) , Vestas Wind Systems A/S (Denmark), Valmont Industries, Inc. (U.S.), Ambau (Germany), and Broadwind Energy (U.S.).

Extensive research in this market has brought to light that contract is a key strategy adopted, extensively, by the players to spread their geographical presence and achieve operational efficiencies. Agreements & Partnerships, are also major strategies adopted by the major players in the global Wind tower market. This strategy is widely adopted to increase the number of offerings to the customer.

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Copyright Š 2018 Market Research Future.

Wind Tower Market Research Report- Forecast to 2023

2 Market Overview The market has been witnessing significant growth opportunities globally, owing to increase in the demand for wind towers on onshore or offshore projects. Strong government support and initiatives for wind energy enhancement in several countries around the world majorly drive the growth in the wind tower market.

Governments of both, the developed and the developing nations are strongly promoting wind energy as an alternative to conventional energy sources and hence are positively influencing the market for wind towers.

Moreover, depletion of fossil fuels and increase in demand for sustainable energy sources, is expected to hold lucrative opportunity for market growth. However, the high maintenance and replacement costs of wind turbines, is expected to restrain the market growth.

In 2016, Siemens has announced the commercial launch of a concrete wind turbine tower technology that places turbines in stronger winds, at higher altitudes, which results in more potential energy production and increased project revenue for customers. This technology is part of an ongoing commitment to use innovation to expand wind power in the United States and around the globe.

Market Segmentation:

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Copyright Š 2018 Market Research Future.

Wind Tower Market Research Report- Forecast to 2023

3 Market Research Analysis Currently, the wind energy is in the growth stage. This is due to the increase in demand for power, global initiatives to use more renewable, non-conventional energy sources, and the global need to restrict carbon emission. European governments and the EU, as a whole, have supported wind projects with favourable incentives, as part of their carbon emission reduction goals. Europe region is currently the leading in wind tower market, and is followed by North America.

Asia Pacific is expected to grow during the forecast period due to many reasons. Increasing wind power generation capacity, stringent environmental regulations for emissions from burning conventional fuel, increasing demand of larger blades, and increased government support for wind power projects, are some of them. Currently, China has the largest number of wind energy projects under planning and construction phase, which is followed by Japan and South Korea.

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Copyright Š 2018 Market Research Future.

Wind Tower Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.