Market Research Report

Steel Wind Tower Market

Steel Wind Tower Market Research Report: Size, Share, Trend Analysis Height Range (Up to 40 meters, 40 meters – 80 meters, 80 meters – 140 meters, Above 140 meters), Application (Onshore, Offshore) and By Region (Asia Pacific, Europe, Rest of the World, North America) - Growth Outlook & Industry Forecast To 2023

Vertical: EnPBase Year: 201710 Sections

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Executive Summary

Steel Wind Tower Market — Snapshot

  • Market Size (2017)

    $13.76B

  • Projected (2023)

    $19.90B

  • CAGR (2016–2023)

    6.3%

  • Key Players

    18+

The wind tower is an important component of the wind turbine. Steel wind towers are made in sections and are assembled on site. Such towers allow maintenance and repair. Taller towers are continuously becoming popular because of wind profiles become stronger with height.

The steel wind tower market is mainly driven by various factors such as rising investment in wind energy, increase in power consumption, and government initiatives and policies. Fluctuating prices of steel, and availability of other alternatives are a few restraints of the steel wind tower market that hinder its growth.

The global steel wind tower market is expected to grow at 6.44% CAGR during the forecast period. In 2017, the market was led by Asia-Pacific, with a 42.88% share, followed by Europe and North America with shares of 34.06% and 17.95%, respectively.

The steel wind tower market has been segmented based on height range, application, and region. On the basis of height range, the market has been segmented as Up to 40 meters, 40 meters – 80 meters, 80 meters – 140 meters, and Above 140 meters. 40 meters – 80 meters segment accounted for the largest market share of 41.76% in 2017, with a market value of USD 5,746.8 million and is projected to grow at the highest CAGR of 6.57% during the forecast period. On the basis of application, onshore segment accounted for the largest market share of 90.88% in 2017, with a market value of USD 12,506.5 million and is projected to grow at a CAGR of 6.43% during the forecast period.

Market Size

· 2017: USD 13,761.5 Million

· 2023: USD 19,899.9 Million

CAGR

· 6.44%

Key Geographies

· Asia Pacific: 42.88%

· Europe: 34.06%

· North America: 17.95%

· Rest of the World: 5.11%

Leading Countries

· China

· US

· Germany

· India

· UK

Key Market Drivers

· Rising investment in wind energy

· Increase in power consumption

· Government initiatives and policies

Key Market Restraint

· Fluctuating prices of steel

· Availability of other alternatives

Key Vendors

· Sika AG

· General Electric

· Siemens Gamesa Renewable Energy, S.A.

· Suzlon Energy Limited

· Senvion S.A.

Key Insight

The Steel Wind Tower Market market is projected to grow at a CAGR of 6.3% from 2016 to 2023.

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Market Scope & Coverage

What this report covers

  • Geographic Coverage: This analysis covers 4 regions: Asia Pacific, Europe, Rest of the World, North America.
  • Market Segmentation: The market is analyzed across 2 segments: Onshore, Offshore. Forecasts are provided for each segment from 2016 to 2023.
  • Competitive Landscape: 18 leading companies are profiled, covering market positioning, strategies, and recent developments.

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Steel Wind Tower Market

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