According to a recent TechNavio report, the Global Wind Tower Market is expected to experience some modest growth, with a CAGR of 11.5 percent from 2013-2018.
Much of this growth can be chalked up to innovative designs that are turning the wind power market on its head.
Faisal Ghaus, Vice President of TechNavio, says:
“Companies around the world are keen to launch innovative products such as offshore floating wind towers, hybrid concrete, and tubular steel towers in the Global Wind Tower market. This increased focus on innovation in building wind towers is one of the significant trends in the market.”
One such innovative design has recently been slated for construction in the Arizona desert. The 2,250 foot tower won’t actually have turbines at the top, as one would expect, but at the bottom. It generates energy by producing a fog at the top of the tower, which absorbs heat (a plentiful thing in Arizona), producing an artificial wind. This cooled air current then makes it way to the bottom of the tower where it is channeled through turbines at the bottom.
The benefit here is that this tower has the potential capability to generate energy at any time, as long as conditions remain hot and dry.
Increasing Wind Energy Consumption Necessitating Better Towers
The Arizona tower is just another example of how the wind energy market is evolving. According to the TechNavio report, a push to limit hazardous emissions has led to a marked increase in alternative energy sources such as wind.
And wind has gained a lot of popularity recently. It’s abundant and renewable, and most importantly, predictable. At present, wind power is predicted at intervals of five minutes to an hour, and in advance by 48-72 hours.
There are also seasonal and annual wind speed forecasts to facilitate easier planning. Access to accurate wind forecasts is enabling proper planning and management of wind power generation, which is driving the growth of the Global Wind Tower market.
Government Support despite Residual Environmental Concerns
Governments worldwide are formulating policies to stimulate the development of innovative wind technologies. A notable example of this is the FiT policy, which was designed to encourage investment in technologies related to renewable energy generation. Policies like this seek to inject the renewable energy industry with grants and incentives, which will ultimately lead to further uptake of these technologies.
While there are still some significant concerns about environmental impact and noise emissions due to wind turbines, increasing government support for wind energy projects will be a boon to the market as a whole in the coming years.
