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Global Wind Tower Market to reach USD 40.70 billion by the end of 2029.

Global Wind Tower Market Size study & Forecast, by Type (Steel Tower, Concrete Tower, and Hybrid Tower) by Installation (Onshore and Offshore), and Regional Analysis, 2022-2029

Product Code: EPRE-54227752
Publish Date: 24-04-2023
Page: 200

Global Wind Tower Market is valued at approximately USD 22.65 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.6% over the forecast period 2022-2029. The nacelle and wind turbine are located at the top of a tall structure called a wind tower. The wind tower’s length is mostly influenced by the turbine’s ability to produce energy and the size of its blades. Huge wind tower blades that are not lifted high enough run the risk of slamming against nearby objects. Therefore, picking a wind tower with the proper height is essential to keeping the long blades of the wind turbine clear of the ground and other objects. The Wind Tower Market is expanding because of factors such as rising favorable renewable energy policies and rising investment in wind energy.

According to International European Agency, the global renewable electricity capacity is expected to rise more than 60% by the year 2026 from 2020 levels to over 4 800 GW. With the rising adoption of renewable electricity, the demand for wind towers are also rising. Furthermore, the market is anticipated to be driven by the shift toward decarbonizing power generation by embracing green and clean energy technology. By continually putting in place renewable energy systems, several nations ensure that their renewable energy goals are met in collaboration with top private organizations. Many businesses are turning to renewable energy sources, particularly solar and wind power, for power generation as a result of environmental laws. This is resulting in accelerated market growth. The International Energy Association (IEA) estimates that in 2021, the production of electricity from wind climbed by a record 273 TWh. This growth rate was the greatest of all renewable energy technologies and was 45% greater than in 2020. In addition, the rising Installation of Renewable Resources for Power Generation is creating lucrative growth in the market.

The key regions considered for the Global Wind Tower Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. During the projection period, Asia Pacific is anticipated to hold the largest market share for wind towers worldwide. Onshore wind installation in the area is in the forefront. Energy demand is rising in major nations such as China, India, and Australia as a result of brisk urbanization and industrialization. Whereas Europe is expected to grow with the highest CAGR during the forecast period, as the installation of wind farms is rapidly rising, and favourable government policies are the main drivers of market expansion in Europe. Another element fostering market expansion is the region’s government’s focus on enhancing wind installation.

Major market player included in this report are:
Nordex Group
Suzlon Energy Ltd
Broadwind Energy Inc
Ventower Industries LLC
Arcosa Inc.
Windar renovables
Shanghai Taisheng Wind Power Equipment Co., Ltd.
Dongkuk s&c
KGW Schweriner Maschinen- und Anlagenbau GmbH
CS Wind Corporation

Recent Developments in the Market:
Ø In September 2022, A renowned international manufacturer of wind turbines placed an order with Broadwind Inc. for a new tower worth USD 38 million. With the recent approval of the Inflation Reduction Act, the demand for new wind turbines started to increase, and this order for a tower represented the highest in more than three years (IRA).
Ø In December 2020, A deal was signed between Veolia North America and GE Renewable for the recycling of U.S. onshore wind turbine blades. Through this agreement, GE hopes to recycle most of the blades that were changed throughout the repowering process.

Global Wind Tower Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Installation, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Typeofferings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Steel Tower
Concrete Tower
Hybrid Tower

By Installation:

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Wind Tower Market, by Region, 2019-2029 (USD Billion)
1.2.2. Wind Tower Market, by Type, 2019-2029 (USD Billion)
1.2.3. Wind Tower Market, by Installation, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Wind Tower Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Wind Tower Market Dynamics
3.1. Wind Tower Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Favourable Renewable Energy Policies Rising Investment in Wind Energy
3.1.2. Market Challenges Fluctuating Prices of Steel
3.1.3. Market Opportunities Rising Installation of Renewable Resources for Power Generation
Chapter 4. Global Wind Tower Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Wind Tower Market, by Type
6.1. Market Snapshot
6.2. Global Wind Tower Market by Type, Performance – Potential Analysis
6.3. Global Wind Tower Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
6.4. Wind Tower Market, Sub Segment Analysis
6.4.1. Steel Tower
6.4.2. Concrete Tower
6.4.3. High Tower
Chapter 7. Global Wind Tower Market, by Installation
7.1. Market Snapshot
7.2. Global Wind Tower Market by Installation, Performance – Potential Analysis
7.3. Global Wind Tower Market Estimates & Forecasts by Installation 2019-2029 (USD Billion)
7.4. Wind Tower Market, Sub Segment Analysis
7.4.1. Onshore
7.4.2. Offshore
Chapter 8. Global Wind Tower Market, Regional Analysis
8.1. Wind Tower Market, Regional Market Snapshot
8.2. North America Wind Tower Market
8.2.1. U.S. Wind Tower Market Type breakdown estimates & forecasts, 2019-2029 Installation breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Wind Tower Market
8.3. Europe Wind Tower Market Snapshot
8.3.1. U.K. Wind Tower Market
8.3.2. Germany Wind Tower Market
8.3.3. France Wind Tower Market
8.3.4. Spain Wind Tower Market
8.3.5. Italy Wind Tower Market
8.3.6. Rest of Europe Wind Tower Market
8.4. Asia-Pacific Wind Tower Market Snapshot
8.4.1. China Wind Tower Market
8.4.2. India Wind Tower Market
8.4.3. Japan Wind Tower Market
8.4.4. Australia Wind Tower Market
8.4.5. South Korea Wind Tower Market
8.4.6. Rest of Asia Pacific Wind Tower Market
8.5. Latin America Wind Tower Market Snapshot
8.5.1. Brazil Wind Tower Market
8.5.2. Mexico Wind Tower Market
8.5.3. Rest of Latin America Wind Tower Market
8.6. Rest of The World Wind Tower Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Nordex Group Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Suzlon Energy Limited
9.2.3. Broadwind Energy Inc
9.2.4. Ventower Industries LLC
9.2.5. Arcosa Inc.
9.2.6. Windar renovables
9.2.7. Shanghai Taisheng Wind Power Equipment Co., Ltd.
9.2.8. Dongkuk s&c
9.2.9. KGW Schweriner Maschinen- und Anlagenbau GmbH
9.2.10. CS Wind Corporation
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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