Wind Turbine Tower Market Size, Growth, Share by 2031
The wind turbine tower market was valued at US$ 8,912.1 million in 2022 and is projected to reach US$ 16,438.5 million by 2030; it is expected to register a CAGR of 8% during 2022–2030. The research and development of next-generation or advanced wind turbine towers is likely to remain key trends in the market.
Wind Turbine Tower Market Analysis
The global wind turbine tower market is projected to experience considerable growth during the analyzed timeframe owing to the increasing number of onshore & offshore wind power projects, particularly in remote locations. Additionally, the government regulations towards reducing carbon emissions by focusing on power generation through renewable energy sources such as wind, solar, geothermal, and others are expected to drive the market growth from 2022 to 2030. Moreover, government initiatives towards the installation of wind farms across the globe are projected to fuel market growth in the coming years.
Wind turbine tower market Overview
With the mounting population and industrialization, the demand for energy is also rising at the global level. The rise in energy consumption also boosted the need for renewable power generation in developing and developed economies. This has resulted in driving the demand for wind power infrastructure across the globe. Wind power generation has gained a high level of importance and acceptability across the world compared to other renewable energy sources. Advanced developments in technology in the design and development of wind power blades, turbines, foundations, turbine towers, shafts, and other components have contributed to significant advancement in wind energy adoption and in achieving maximum power from available wind. As per the International Renewable Energy Agency (IRENA), the global wind installed capacity reached 1,017 GW by the end of 2023 from 825 GW in 2021. Thus, such an increase in the wind installed capacity is expected to increase in the coming years, owing to the advantages of wind energy and favorable policies, incentives, and tax rebates. Such a rise in wind installation capacity across the globe is anticipated to be the key driver in the wind turbine tower market.
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Wind Turbine Tower Market: Strategic Insights
Market Size Value in US$ 8,912.1 million in 2022 Market Size Value by US$ 16,438.5 million by 2030 Growth rate CAGR of 8% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Wind Turbine Tower Market: Strategic Insights
| Market Size Value in | US$ 8,912.1 million in 2022 |
| Market Size Value by | US$ 16,438.5 million by 2030 |
| Growth rate | CAGR of 8% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Wind Turbine Tower Market Drivers and Opportunities
Decreasing Cost of Tower Manufacturing to Favor Market
Wind towers are mainly made of steel, which accounts for almost 66-79% of total turbine cost, followed by fiberglass, plastic, or resin (11-16%), iron (5-17%), and copper and aluminum (1-2%). Wind turbine towers are predominantly made of steel. The growing commercial and technological advancement is anticipated to lower the manufacturing cost of wind turbine towers. The instability of demand for steel in the domestic market of China and the increasing export of steel from China is impacting the steel prices at the global level. The continuous downturn of steel prices is reducing the overall operational expenses of the wind projects. The declining operation cost of wind energy projects is positively impacting the wind energy sector, which is boosting the demand for wind turbine towers.
The Growing Focus on Floating Wind Technology
The floating wind technology is the offshore wind turbine mounted on a floating structure in the sea that ensures the turbine generates electricity in water depths. The floating or offshore wind technology is highly efficient in harsh environmental conditions and thus capable of producing huge amounts of power. This floating wind technology is globally adopted across various countries such as China, Germany, Japan, the UK, France, Belgium, and Denmark. The growth prospects in the adoption of floating wind technology are primarily attributed to an increase in advancement in technology, associated advantages, and turnkey solutions provided by various service providers. The growing awareness for achieving clean energy targets by various countries is propelling the demand for floating offshore wind power, which is posing a potential opportunity for the growth of the wind turbine tower market.
The Floating Offshore Wind Centre of Excellence report has identified 22 countries that are most ready to become major players in the nascent renewable energy technology. In January 2022, The United Kingdom government announced 11 renewable power projects that will each be awarded up to US$959.23 million as it puts forward US$2.97 billion to boost the renewable energy generated in the UK. Such investment in offshore or floating wind technology across the world is projected to fuel market growth in the coming years.
Wind Turbine Tower Market Report Segmentation Analysis
Key segments that contributed to the derivation of the wind turbine tower market analysis are tower type, and deployment type
- Based on tower type, the wind turbine tower market is divided into tubular steel towers, lattice towers, and hybrid towers. The tubular steel towers segment held a larger market share in 2022.
- On the basis of deployment type, the market is segmented into onshore and offshore. The onshore segment held a larger market share in 2022.
Wind Turbine Tower Market Share Analysis by Geography
The geographic scope of the wind turbine tower market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific dominated the wind turbine tower market in 2022. The Asia Pacific region includes China, Australia, India, South Korea, Japan, & the Rest of Asia Pacific. Asia Pacific leads the wind turbine tower market owing to its growing focus on integrating renewable energy resources in the overall power mix and target of mitigating the environmental pollution caused by fossil fuels. China held the leading position in the global wind market in terms of onshore and offshore wind installations. The growing focus of turbine tower manufacturers on the supply chain ecosystem also majorly drives the overall wind turbine tower market growth. The growing positive approach toward encouraging the utilization of clean energy resources instead of conventional sources for power generation by funding renewable projects, subsidies, and policies fuels the demand for wind turbine towers in India and Australia.
Wind Turbine Tower Market Report Scope
Wind Turbine Tower Market News and Recent Developments
The wind turbine tower market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the wind turbine tower market are listed below:
- The GreenerTower has already closed its first order. RWE and Siemens Gamesa were agreed to launch 36 GreenerTowers at the 1,000-MW Thor offshore wind energy project in Denmark. In total, about 72 SG 14-236 DD offshore wind turbines was planned to be installed starting in 2026. (Source: Siemens Gamesa Renewable Energy, S.A., Press Release, April 2023)
- Orsted and Vestas, global leaders in renewable energy, announced a commercial sustainability partnership. Ørsted is expected to procure low-carbon steel wind turbine towers and rotor blades made from recycled materials from Vestas in all joint offshore wind projects. (Source: NN, Inc, Press Release, June 2023)
Wind Turbine Tower Market Report Coverage and Deliverables
The “Wind Turbine Tower Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
- Wind turbine tower market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Wind turbine tower market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Wind turbine tower market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the wind turbine tower market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Tower Type, Deployment Type, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
8.0% is the expected CAGR of the wind turbine tower market.
US$ 18.49 billion estimated value of the wind turbine tower market by 2030.
Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy, S.A., Valomont Industries, Inc., Marmen Inc, Nordex SE, KGW Schweriner Maschinen- und Anlagenbau GmbH, Dongkuk Structures & Construction Co Ltd, Arcosa Wind Towers Inc, Broadwind Inc, CS WIND are some of the leading players in the wind turbine tower market.
The research and development of next-generation or advanced wind turbine towers is the future trend of the wind turbine tower market
Asia Pacific dominated the wind turbine tower market in 2022.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Wind Turbine Tower Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Component Manufacturers
4.3.3 End User
4.3.4 List of Wind Turbine Tower Suppliers
5. Wind Turbine Tower Market - Key Industry Dynamics
5.1 Wind Turbine Tower Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increase in Number of Wind Farms
5.2.2 Favorable Government Policies and Initiatives for Wind Energy
5.2.3 Decreased Cost of Tower Manufacturing
5.3 Market Restraints
5.3.1 Overdependence on Chinese Wind Turbine Tower Manufacturers
5.4 Market Opportunities
5.4.1 Rising Demand for Floating Wind Technology
5.5 Future Trends
5.5.1 Technology Advancements to Attain More Wind Energy Potential
5.6 Impact of Drivers and Restraints:
6. Wind Turbine Tower Market - Global Market Analysis
6.1 Wind Turbine Tower Market Revenue (US$ Million), 2022 – 2030
6.2 Wind Turbine Tower Market Forecast and Analysis
7. Wind Turbine Tower Market Analysis – Tower Type
7.1.1 Wind Turbine Tower Market, By Tower Type (2022 and 2030)
7.2 Tubular Steel Towers
7.2.1 Overview
7.2.2 Tubular Steel Towers Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Lattice Towers
7.3.1 Overview
7.3.2 Lattice Towers Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Hybrid Towers
7.4.1 Overview
7.4.2 Hybrid Towers Market, Revenue and Forecast to 2030 (US$ Million)
8. Wind Turbine Tower Market Analysis – Deployment Type
8.1.1 Wind Turbine Tower Market, By Deployment Type (2022 and 2030)
8.2 Onshore
8.2.1 Overview
8.2.2 Onshore Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Offshore
8.3.1 Overview
8.3.2 Offshore Market, Revenue and Forecast to 2030 (US$ Million)
9. Wind Turbine Tower Market - Geographical Analysis
9.1 Overview
9.2 North America
9.2.1 North America Wind Turbine Tower Market Overview
9.2.2 North America Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.3 North America Wind Turbine Tower Market Breakdown by Tower Type
9.2.3.1 North America Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Tower Type
9.2.4 North America Wind Turbine Tower Market Breakdown by Deployment Type
9.2.4.1 North America Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Deployment Type
9.2.5 North America Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Country
9.2.5.1 US Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.1.1 US Wind Turbine Tower Market Breakdown by Tower Type
9.2.5.1.2 US Wind Turbine Tower Market Breakdown by Deployment Type
9.2.5.2 Canada Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.2.1 Canada Wind Turbine Tower Market Breakdown by Tower Type
9.2.5.2.2 Canada Wind Turbine Tower Market Breakdown by Deployment Type
9.2.5.3 Mexico Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.3.1 Mexico Wind Turbine Tower Market Breakdown by Tower Type
9.2.5.3.2 Mexico Wind Turbine Tower Market Breakdown by Deployment Type
9.3 Europe
9.3.1 Europe Wind Turbine Tower Market Overview
9.3.2 Europe Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.3 Europe Wind Turbine Tower Market Breakdown by Tower Type
9.3.3.1 Europe Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Tower Type
9.3.4 Europe Wind Turbine Tower Market Breakdown by Deployment Type
9.3.4.1 Europe Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Deployment Type
9.3.5 Europe Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Country
9.3.5.1 Germany Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.1.1 Germany Wind Turbine Tower Market Breakdown by Tower Type
9.3.5.1.2 Germany Wind Turbine Tower Market Breakdown by Deployment Type
9.3.5.2 France Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.2.1 France Wind Turbine Tower Market Breakdown by Tower Type
9.3.5.2.2 France Wind Turbine Tower Market Breakdown by Deployment Type
9.3.5.3 Italy Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.3.1 Italy Wind Turbine Tower Market Breakdown by Tower Type
9.3.5.3.2 Italy Wind Turbine Tower Market Breakdown by Deployment Type
9.3.5.4 UK Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.4.1 UK Wind Turbine Tower Market Breakdown by Tower Type
9.3.5.4.2 UK Wind Turbine Tower Market Breakdown by Deployment Type
9.3.5.5 Russia Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.5.1 Russia Wind Turbine Tower Market Breakdown by Tower Type
9.3.5.5.2 Russia Wind Turbine Tower Market Breakdown by Deployment Type
9.3.5.6 Rest of Europe Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.6.1 Rest of Europe Wind Turbine Tower Market Breakdown by Tower Type
9.3.5.6.2 Rest of Europe Wind Turbine Tower Market Breakdown by Deployment Type
9.4 Asia Pacific
9.4.1 Asia Pacific Wind Turbine Tower Market Overview
9.4.2 Asia Pacific Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.3 Asia Pacific Wind Turbine Tower Market Breakdown by Tower Type
9.4.3.1 Asia Pacific Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Tower Type
9.4.4 Asia Pacific Wind Turbine Tower Market Breakdown by Deployment Type
9.4.4.1 Asia Pacific Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Deployment Type
9.4.5 Asia Pacific Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Country
9.4.5.1 Australia Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.1.1 Australia Wind Turbine Tower Market Breakdown by Tower Type
9.4.5.1.2 Australia Wind Turbine Tower Market Breakdown by Deployment Type
9.4.5.2 China Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.2.1 China Wind Turbine Tower Market Breakdown by Tower Type
9.4.5.2.2 China Wind Turbine Tower Market Breakdown by Deployment Type
9.4.5.3 India Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.3.1 India Wind Turbine Tower Market Breakdown by Tower Type
9.4.5.3.2 India Wind Turbine Tower Market Breakdown by Deployment Type
9.4.5.4 Japan Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.4.1 Japan Wind Turbine Tower Market Breakdown by Tower Type
9.4.5.4.2 Japan Wind Turbine Tower Market Breakdown by Deployment Type
9.4.5.5 South Korea Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.5.1 South Korea Wind Turbine Tower Market Breakdown by Tower Type
9.4.5.5.2 South Korea Wind Turbine Tower Market Breakdown by Deployment Type
9.4.5.6 Rest of APAC Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.6.1 Rest of APAC Wind Turbine Tower Market Breakdown by Tower Type
9.4.5.6.2 Rest of APAC Wind Turbine Tower Market Breakdown by Deployment Type
9.5 Middle East & Africa
9.5.1 Middle East and Africa Wind Turbine Tower Market Overview
9.5.2 Middle East and Africa Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.3 Middle East and Africa Wind Turbine Tower Market Breakdown by Tower Type
9.5.3.1 Middle East and Africa Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Tower Type
9.5.4 Middle East and Africa Wind Turbine Tower Market Breakdown by Deployment Type
9.5.4.1 Middle East and Africa Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Deployment Type
9.5.5 Middle East and Africa Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Country
9.5.5.1 South Africa Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.5.1.1 South Africa Wind Turbine Tower Market Breakdown by Tower Type
9.5.5.1.2 South Africa Wind Turbine Tower Market Breakdown by Deployment Type
9.5.5.2 Saudi Arabia Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.5.2.1 Saudi Arabia Wind Turbine Tower Market Breakdown by Tower Type
9.5.5.2.2 Saudi Arabia Wind Turbine Tower Market Breakdown by Deployment Type
9.5.5.3 Egypt Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.5.3.1 Egypt Wind Turbine Tower Market Breakdown by Tower Type
9.5.5.3.2 Egypt Wind Turbine Tower Market Breakdown by Deployment Type
9.5.5.4 Rest of MEA Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.5.4.1 Rest of MEA Wind Turbine Tower Market Breakdown by Tower Type
9.5.5.4.2 Rest of MEA Wind Turbine Tower Market Breakdown by Deployment Type
9.6 South America
9.6.1 South America Wind Turbine Tower Market Overview
9.6.2 South America Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.6.3 South America Wind Turbine Tower Market Breakdown by Tower Type
9.6.3.1 South America Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Tower Type
9.6.4 South America Wind Turbine Tower Market Breakdown by Deployment Type
9.6.4.1 South America Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Deployment Type
9.6.5 South America Wind Turbine Tower Market Revenue and Forecasts and Analysis - By Country
9.6.5.1 Brazil Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.6.5.1.1 Brazil Wind Turbine Tower Market Breakdown by Tower Type
9.6.5.1.2 Brazil Wind Turbine Tower Market Breakdown by Deployment Type
9.6.5.2 Argentina Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.6.5.2.1 Argentina Wind Turbine Tower Market Breakdown by Tower Type
9.6.5.2.2 Argentina Wind Turbine Tower Market Breakdown by Deployment Type
9.6.5.3 Rest of SAM Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.6.5.3.1 Rest of SAM Wind Turbine Tower Market Breakdown by Tower Type
9.6.5.3.2 Rest of SAM Wind Turbine Tower Market Breakdown by Deployment Type
10. Wind Turbine Tower Market – Impact of COVID-19 Pandemic
10.1 Pre & Post Covid-19 Impact
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 New Product Development
12.3 Market Initiative
13. Company Profiles
13.1 Vestas Wind Systems AS
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Siemens Gamesa Renewable Energy SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Valmont Industries Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Marmen Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Nordex SE
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 KGW Schweriner Maschinen- und Anlagenbau GmbH
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Dongkuk Structures & Construction Co Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Arcosa Wind Towers Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Broadwind Inc
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Cs Wind Corp
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. Wind Turbine Tower Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Million) – Tower Type
Table 5. Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Million) – Deployment Type
Table 6. North America Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 7. North America Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 8. US Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 9. US Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 10. Canada Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 11. Canada Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 12. Mexico Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 13. Mexico Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 14. Europe Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 15. Europe Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 16. Germany Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 17. Germany Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 18. France Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 19. France Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 20. Italy Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 21. Italy Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 22. UK Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 23. UK Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 24. Russia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 25. Russia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 26. Rest of Europe Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 27. Rest of Europe Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 28. Asia Pacific Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 29. Asia Pacific Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 30. Australia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 31. Australia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 32. China Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 33. China Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 34. India Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 35. India Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 36. Japan Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 37. Japan Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 38. South Korea Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 39. South Korea Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 40. Rest of APAC Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 41. Rest of APAC Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 42. Middle East and Africa Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 43. Middle East and Africa Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 44. South Africa Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 45. South Africa Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 46. Saudi Arabia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 47. Saudi Arabia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 48. Egypt Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 49. Egypt Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 50. Rest of MEA Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 51. Rest of MEA Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 52. South America Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 53. South America Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 54. Brazil Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 55. Brazil Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 56. Argentina Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 57. Argentina Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 58. Rest of SAM Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Tower Type
Table 59. Rest of SAM Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
List of Figures
Figure 1. Wind Turbine Tower Market Segmentation, By Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem: Wind Turbine Tower Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Wind Turbine Tower Market Breakdown by Geography, 2022 and 2030 (%)
Figure 6. Wind Turbine Tower Market Revenue (US$ Million), 2022 – 2030
Figure 7. Wind Turbine Tower Market Share (%) – Tower Type, 2022 and 2030
Figure 8. Tubular Steel Towers Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Lattice Towers Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Hybrid Towers Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Wind Turbine Tower Market Share (%) – Deployment Type, 2022 and 2030
Figure 12. Onshore Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Offshore Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Wind Turbine Tower Market Breakdown by Region, 2022 and 2030 (%)
Figure 15. North America Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 16. North America Wind Turbine Tower Market Breakdown by Tower Type (2022 and 2030)
Figure 17. North America Wind Turbine Tower Market Breakdown by Deployment Type (2022 and 2030)
Figure 18. North America Wind Turbine Tower Market Breakdown by Country (2022 and 2030)
Figure 19. US Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 20. Canada Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. Mexico Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 22. Europe Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. Europe Wind Turbine Tower Market Breakdown by Tower Type (2022 and 2030)
Figure 24. Europe Wind Turbine Tower Market Breakdown by Deployment Type (2022 and 2030)
Figure 25. Europe Wind Turbine Tower Market Breakdown by Country (2022 and 2030)
Figure 26. Germany Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. France Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. Italy Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 29. UK Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 30. Russia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 31. Rest of Europe Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 32. Asia Pacific Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 33. Asia Pacific Wind Turbine Tower Market Breakdown by Tower Type (2022 and 2030)
Figure 34. Asia Pacific Wind Turbine Tower Market Breakdown by Deployment Type (2022 and 2030)
Figure 35. Asia Pacific Wind Turbine Tower Market Breakdown by Country (2022 and 2030)
Figure 36. Australia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 37. China Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 38. India Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 39. Japan Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 40. South Korea Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 41. Rest of APAC Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 42. Middle East and Africa Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 43. Middle East and Africa Wind Turbine Tower Market Breakdown by Tower Type (2022 and 2030)
Figure 44. Middle East and Africa Wind Turbine Tower Market Breakdown by Deployment Type (2022 and 2030)
Figure 45. Middle East and Africa Wind Turbine Tower Market Breakdown by Country (2022 and 2030)
Figure 46. South Africa Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 47. Saudi Arabia Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 48. Egypt Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 49. Rest of MEA Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 50. South America Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 51. South America Wind Turbine Tower Market Breakdown by Tower Type (2022 and 2030)
Figure 52. South America Wind Turbine Tower Market Breakdown by Deployment Type (2022 and 2030)
Figure 53. South America Wind Turbine Tower Market Breakdown by Country (2022 and 2030)
Figure 54. Brazil Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 55. Argentina Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 56. Rest of SAM Wind Turbine Tower Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 57. Heat Map Analysis by Key Players
Figure 58. Company Positioning & Concentration
The List of Companies - Wind Turbine Tower Market
- Vestas Wind Systems AS
- KGW
- DONGKUKS&C
- CS Wind Corporation
- Siemens Gamesa
- Valmont Industries Inc
- Broadwind Energy
- Arcosa Wind Towers Inc
- Marmen Inc
- Nordex Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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