According to Technavio’s latest market research study, the global wind tower market is expected to grow at a CAGR of close to 10% during the forecast period of 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global wind tower market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
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The top two revenue contributing product segments are discussed below
Global wind tower market by tubular steel towers: The towers are conical in shape and are transported to the site by trucks within a short duration of time. Steel towers are the most cost effective and economical towers that are available and will lead to the growth of the market during the forecast period. These towers are aesthetically designed with predictable dynamic and fatigue properties making it the most common choice for modern turbines.
“Steel towers are cost-effective when manufactured in bulk and their design provides strength to the wind turbine structures. These towers are strategically designed to support quicker transport and easy installation. These properties help wind farms to save costs pertaining to tower installation, thereby, boosting the demand for these products in the market during the forecast period,” Thanikachalam Chandrasekaran, a lead analyst at Technavio for research on power.
Global wind tower market by concrete towers: The introduction of concrete towers helps install taller hub heights to overcome surface friction, which, in turn, bolsters productivity for the wind turbine. The concrete used for the manufacture of this tube is sourced locally and built closer to the site removing all possibilities of transportation limitation. Furthermore, the use of this material increases the lifecycle of these towers, helps in reducing the cost of operations, and the use of reinforced concrete, thus, promoting sustainable business development.
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The top vendors operating in the global wind tower market are:
- CS Wind
- Enercon
- Shanghai Taisheng Wind Power Equipment
- Trinity Structural Towers
Other prominent vendors in the market include AMBAU, BiFab, Dongkuk Steel, DCD Wind Towers, Gamesa, GE Renewable Energy, KGW, Siemens, Suzlon, WinWinD Power Energy, Petrosteel, Reuther STC, Nordex, and Broadwind Energy.
A more detailed analysis is available in the Technavio report titled, ‘Global Wind Tower Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Wind Turbine Components Market 2016-2020
- Global Wind Automation Market 2016-2020
- Global Solar Batteries Market 2016-2020
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