Steel Wind Tower Market Overview
A wind turbine is a machine that converts kinetic energy from the wind into electricity. A wind tower is an important component of a wind turbine. Wind towers are of two types: steel wind towers and concrete wind towers. The global Steel Wind Tower market is expected to rise at a considerable rate in the forecast period.
The increase in investments in wind energy and favorable government initiatives and policies are major factors that intensify the growth of the global Steel Wind Tower market. In addition to this, policy interventions by countries, such as Nationally Determined Contributions (NDCs) and Sustainable Development Goals (SDGs), are creating a large demand for renewable energy across the world. The execution of Strict regulations to support the conservation of the environment is prompting the power industry to shift toward clean and eco-friendly energy resources. Moreover, the rise in power consumption in many developing countries is propelling the growth of the Steel Wind Tower market.
On the downside, instability in prices of steel and a rise in availability of alternatives, such as concrete wind towers, are projected to hamper the growth of the Steel Wind Tower market during the forecast period. Besides this, the cost of electricity generated by using wind energy is anticipated to decline in the coming years, due to technological advancements. This is projected to create significant growth opportunities for the Steel Wind Tower market in the forthcoming years.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Height Range, Application, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Siemens Gamesa Renewable Energy, S.A., Suzlon Energy Limited, ENERCON GmbH, Senvion S.A., Valmont Industries, Inc., Trinity Structural Towers, Inc., Broadwind Energy, Inc., Ib Andresen Industri, Vestas Wind Systems A/S, CSWIND CORPORATION, Goldwind, Windar Renovables, Aeolos Wind Energy Ltd., Qingdao Wuxiao Group Co., Ltd., Zhejiang Guoxing Wind Power Technology Co., Ltd., Morrison Berkshire, Inc. |
Covid-19 Impact on Steel Wind Tower Market
As around one-third of the global population is staying indoors owing to nationwide lockdown, stay-at-home orders, and restrictions on movement, the energy demand has sharply dipped. By the end of 2020, approximately, a decline in 5% of the energy demand was been recorded. Also, waning in corresponding gas and oil demands of 4% and 9%, respectively were registered in 2020. Currently, the energy market is at a historic low with surplus supplies. However, the situation is expected to ease up with a lift in lockdown restrictions and end-use industries start operating with great efficiencies.
Steel Wind Tower Market Segment Overview
Based on the Height Range, the Up to 80 Meters segment accounted for the largest share in the global Steel Wind Tower market in 2020. It is expected that the same trend will be showing over the stated period. About 40 to 80 meters of height range is perfect for wind towers. Additionally, wind towers of this height are cost-efficient and relatively easy to maintain. Further, they need less time and space for installation. They also do not contain any extra infrastructure. According to the application, the onshore segment dominated the market in 2020. The growth of this segment is mainly attributed to the ongoing investment in a wind energy project in onshore locations.
Steel Wind Tower Market, By Height Range
· Up to 80 Meters
· More than 80 Meters
Steel Wind Tower Market, By Application
· Onshore
· Offshore
Steel Wind Tower Market Regional Overview
In terms of region, Asia Pacific is anticipated to hold a maximum share in the global Steel Wind Tower market in the forecast period. The Asia Pacific has one of the major industries for renewables across the world. Energy demand is growing speedily in the region owing to rapid industrialization and urbanization in China, India, Japan, and Australia. Additionally, the rise in Foreign Direct Investments (FDIs) in offshore and onshore wind energy in many countries in the Asia Pacific is making profitable opportunities for players operating in the steel wind tower market. In addition, the total installed onshore wind capacity in the Asia Pacific stood at 336,286 MW in 2020. Similarly, Europe is another key region for the global steel wind tower market. Wind energy remains the second-largest form of power generation in Europe.
Steel Wind Tower Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Steel Wind Tower Market Competitor overview
Some key developments and strategies adopted by manufacturers in Steel Wind Tower are highlighted below.
· In September 2021, Severstal has bought 24.5% from one of the partners of the joint venture WRS Towers LLC - JSC RUSNANO. The transaction was closed on September 2021, as a result of which Severstal's share in the joint venture increased to 49%. The share of another partner - the Spanish company Windar Renovables S. L.-remains at the same level of 51%.
Steel Wind Tower Market, Key Players
· Siemens Gamesa Renewable Energy, S.A.
· Suzlon Energy Limited
· ENERCON GmbH
· Senvion S.A.
· Valmont Industries, Inc.
· Trinity Structural Towers, Inc.
· Broadwind Energy, Inc.
· Ib Andresen Industri
· Vestas Wind Systems A/S
· CSWIND CORPORATION
· Goldwind, Windar Renovables
· Aeolos Wind Energy Ltd.
· Qingdao Wuxiao Group Co., Ltd.
· Zhejiang Guoxing Wind Power Technology Co., Ltd.
· Morrison Berkshire, Inc.
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Steel Wind Tower market during the forecast period?
The Steel Wind Tower market is expected to record a CAGR of ~ 7 % during the forecast period.
Q2. Which segment is projected to hold the largest share in the Steel Wind Tower Market.?
The Up to 80 Meters segment is projected to hold the largest share in the Steel Wind Tower Market.
Q3. What are the driving factors for the Steel Wind Tower market?
The increase in investments in wind energy and favorable government initiatives and policies are major factors that intensify the growth of the global Steel Wind Tower market.
Q4. What are the restraining factors for the Steel Wind Tower market?
The instability in prices of steel and a rise in availability of alternatives, such as concrete wind towers are expected to restrain the growth of the global Steel Wind Tower market.
Q5. Which are the prominent players offering Steel Wind Tower?
Siemens Gamesa Renewable Energy, S.A., Suzlon Energy Limited, ENERCON GmbH, Senvion S.A., Valmont Industries, Inc., Trinity Structural Towers, Inc., Broadwind Energy, Inc., Ib Andresen Industri, Vestas Wind Systems A/S, CSWIND CORPORATION, Goldwind, Windar Renovables, Aeolos Wind Energy Ltd., Qingdao Wuxiao Group Co., Ltd., Zhejiang Guoxing Wind Power Technology Co., Ltd., Morrison Berkshire, Inc. are some of the key players offering Steel Wind Tower.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Steel Wind Tower Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Height Range
- 5.2.1. Up to 80 Meters
- 5.2.2. More than 80 Meters
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Onshore
- 5.3.2. Offshore
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Steel Wind Tower Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Height Range
- 6.2.1. Up to 80 Meters
- 6.2.2. More than 80 Meters
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Onshore
- 6.3.2. Offshore
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Steel Wind Tower Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Height Range
- 7.2.1. Up to 80 Meters
- 7.2.2. More than 80 Meters
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Onshore
- 7.3.2. Offshore
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Steel Wind Tower Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Height Range
- 8.2.1. Up to 80 Meters
- 8.2.2. More than 80 Meters
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Onshore
- 8.3.2. Offshore
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Steel Wind Tower Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Height Range
- 9.2.1. Up to 80 Meters
- 9.2.2. More than 80 Meters
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Onshore
- 9.3.2. Offshore
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Siemens Gamesa Renewable Energy, S.A.
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Suzlon Energy Limited
- 10.6. ENERCON GmbH
- 10.7. Senvion S.A.
- 10.8. Valmont Industries, Inc.
- 10.9. Trinity Structural Towers, Inc.
- 10.10. Broadwind Energy, Inc.
- 10.11. Ib Andresen Industri
- 10.12. Vestas Wind Systems A/S
- 10.13. CSWIND CORPORATION
- 10.14. Goldwind, Windar Renovables
- 10.15. Aeolos Wind Energy Ltd.
- 10.16. Qingdao Wuxiao Group Co., Ltd.
- 10.17. Zhejiang Guoxing Wind Power Technology Co., Ltd.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
