This market research and analysis by Technavio provides detailed segmentation of the global wind tower market by type (tubular steel, concrete, hybrid, and lattice towers), by application (offshore and onshore), and by geography (APAC, EMEA, and the Americas). Key vendors analyzed in this market research are CS Wind Corp, Enercon Gmbh, Shanghai Taisheng Wind Power Equipment, Trinity Structural Towers, Vestas A/S, and Windar Renovables.
Technavio’s market research analysts estimate the global wind tower market to grow at a CAGR of around 5% between 2015 and 2019. The growth of this market is strongly driven by the wind energy industry, which is influenced by the rising environmental concerns, increased power demand, favorable government support, and the rising need to reduce dependency on fossil fuels. APAC dominates the global market for wind towers, accounting for 44% of the overall market share. Growing demand for power and rise in renewable power development are the major factors boosting the growth of the market in this region.
The new market research report from Technavio provides a breakdown and analysis of the wind tower segments by technology.
“Governments across the globe are strongly promoting clean power technologies such as wind energy to meet the growing power requirements. They are introducing new schemes, policies, tax benefits, and financial support for adequate wind power generation. Vendor are also coming up with robust and tall wind towers that can support large capacity turbines in offshore conditions,” says Vishu R., Lead Analyst, Energy, Technavio Research.
Technavio market research analysts have estimated the tubular steel towers segment to dominate over all the other segments during the forecast period. Growth in this segment is envisaged to be driven by factors like its cost effectiveness and its ability to provide strength to the wind turbine structures, which results in its impressive market share of almost 92% by 2019.
The leading vendors in the global wind tower market include CS Wind Corp, Enercon Gmbh, Shanghai Taisheng Wind Power Equipment, Trinity Structural Towers, Vestas A/S, and Windar Renovables. This market is highly competitive. Vendors that focus on designing robust and tall towers that can support large capacity turbines in both onshore and offshore conditions are expected to gain maximum prominence in this market.
A more detailed analysis is available in the Technavio report, Global Wind Tower Market 2015-2019
We can customize reports by other regions and specific segments upon request.
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- Global Wind Turbine Rotor Blade Market 2014-2018
- Wind Turbine Market in India 2015-2019
- Global Wind Turbine Gearbox Market 2015-2019
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