Steel Wind Tower Market Research Report – Global Forecast till 2030

Steel Wind Tower Market: By Height Range (Up to 40 Meters, 40 Meters – 80 Meters, 80 Meters – 140 Meters and Above 140 Meters), By Application (Offshore Wind Power and Onshore Wind Power), and region - Global Forecast Till 2030

ID: MRFR/IA - E/5868-CR | February 2019 | Region: Global | 110 pages

Steel Wind Tower Market Snapshot


Global steel wind tower market is set to reach a valuation in excess of USD 32.54 Mn, by 2027, exhibiting a CAGR of 7%.


Increased focus on sustainable energy resources coupled with concerns over extensive reliance on fossil fuel is reflecting favorable on the global market. Asia Pacific is likely to remain at the forefront of the global market during the review period. Policy reforms and the continued rise in power consumption in China and India is partly driving the adoption of various types of clean energy solutions including wind turbines.


Synopsis


This MRFR study presents a detailed analysis of the global steel wind tower market along with as five-year revenue forecast, which ends in 2023. Various elements are covered in the study including market definition, market dynamics and market factor analysis among others. In this study market assessment is made for steel wind towers used in offshore and onshore applications.


Companies Covered


ENERCON GmbH, Siemens Gamesa Renewable Energy, S.A., Valmont Industries, Inc., Broadwind Energy, Inc., Vestas Wind Systems A/S, Goldwind, Aeolos Wind Energy Ltd., Zhejiang Guoxing Wind Power Technology Co., Ltd., Suzlon Energy Limited, Windar Renovables, Trinity Structural Towers, Inc., Morrison Berkshire, Inc., CSWIND CORPORATION, Senvion S.A., Qingdao Wuxiao Group Co., Ltd. and Ib Andresen Industri.


The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report


Research Methodology


Market Research Future (MRFR) employs a robust statistical solution for comprehensive and iterative assessment of critical market indicators. Utilization of multi-layered research module and advanced data triangulation technique aids in conducting extensive qualitative and quantitative analysis of governing factors and macroeconomic indicators of market, which include key market dynamics, historical trends, consumer landscape, challenges, and growth opportunities. Primary research process is utilized to garner data by conducting surveys and one-on-one interviews with key opinion holders across the value chain, which is then verified using secondary research processes with reference to industry documentations such as paid databases, whitepapers, SEC filings, annual company reports, and others. In addition, the top-down and bottom-up approaches ensure the accuracy and objectivity of research findings.  


Other Description



  • Market Denomination- USD Mn

  • Base Year- 2017

  • Forecast Period- from 2018 to 2023


For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for steel wind tower


Height Range



  • Up to 40 meters

  • 40 meters – 80 meters

  • 80 meters – 140 meters

  • Above 140 meters


By Application



  • Offshore wind power

  • Onshore wind power


By Region



  • North America

  • Europe

  • Asia Pacific

  • The Middle East & Africa (MEA)

  • Latin America



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2023:USD 32.54 Billion
  • 2030 : Significant value
  •   CAGR   7%CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Height Range and Application
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   ENERCON GmbH, Siemens Gamesa Renewable Energy, S.A., Valmont Industries, Inc., Broadwind Energy, Inc., Vestas Wind Systems A/S, Goldwind, Aeolos Wind Energy Ltd., Zhejiang Guoxing Wind Power Technology Co., Ltd., Suzlon Energy Limited, Windar Renovables, Trinity Structural Towers, Inc., Morrison Berkshire, Inc., CSWIND CORPORATION, Senvion S.A., Qingdao Wuxiao Group Co., Ltd. and Ib Andresen Industri.
      Key Market Opportunities   New product launches and R&D Amongst major key Players
      Key Market Drivers   Policy reforms and the continued rise in power consumption


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    Frequently Asked Questions (FAQ) :


    Global steel wind tower market is set to reach a valuation in excess of USD 19,800 Mn, by 2023, exhibiting a CAGR of 6.44%.

    ENERCON, Siemens Gamesa Renewable Energy, S.A., Valmont Industries, Broadwind Energy, Vestas Wind Systems A/S, Goldwind, Aeolos Wind Energy, Zhejiang Guoxing Wind Power Technology, Suzlon Energy, Windar Renovables.

    Steel Wind Tower Market Segments By Height Range, By Application and region - Global Forecast Till 2027.

    The recent study conducted by Market Research Future (MRFR), reveals that the global steel wind tower market will exhibit 6.44% CAGR during the assessment period (2020-2027).

    Global Steel Wind Tower Market: Competitive Landscape  


    Vestas Wind Systems A/S (Denmark), Siemens Gamesa Renewable Energy, S.A. (Spain), Suzlon Energy Limited (India), Valmont Industries, Inc. (Denmark), and Trinity Structral Towers Inc. (US) are the major five players operating in the global low-voltage circuit breakers market. Vestas Wind Systems A/S held the largest share among top five players with a share of 24.0% in 2017, followed by Siemens Gamesa Renewable Energy, S.A. and Suzlon Energy Limited with respective shares of 9.7% and 7.3% repectively. These companies are adopting strategies such as merger & acquisition and new product launch to improve their position in the global steel wind tower market.       


    Vestas is one of the key players in wind power industry and is involved in design, manufacturing, installtion, and servicing of wind turbines globally. The company operates in three main business areas, namely power solutions, service, and offshore. The power solutions segment includes developing, manufacturing, and optimizing the performance of onshore wind turbines, from site studies to installation. The wind energy operators use company’s smart data capabilities to interpret, forecast, and exploit wind resources. Vestas mainly focuses on delivering energy solutions at the lowest costs and best-in-class global operations by enhancing its technology and service leadership. Moreover, it continues to lead in R&D and innovation in technology to secure its position in the industry.


    Siemens Gamesa Renewable Energy, S.A. is one of the leading suppliers of wind power solutions, globally. It operates as subsidiary of Siemens AG. The company designs, manufactures, sells, and services wind turbines and their components. It operates through into three business segments, namely onshore wind power, offshore wind power, and maintenance services of wind turbines. Siemens Gamesa Renewable Energy focuses on collaborations and partnerships to expand their market share of the wind power and renewables segment. Its strong alliances with many large multinational companies in related markets enable them to accelerate growth.


    Suzlon Energy Limited being one of the leading manufacturers of wind turbines, is engaged in the business of design, manufacture, development, and supply of wind turbine generators of a range of capacities and their components. It offers solar power systems, operation and maintenance of wind turbine generators, as well as it offers project execution and site infrastructure development services. Suzlon Energy Limited intends to continue to increase its market share for business lines and related business lines through contracts and agreements. 


    Valmont Industries, Inc. is the parent organization of Valmont SM, which manufactures and sells various types of complex steel structures for a wide range of industries such as offshore oil and gas, transmission towers, wind energy, and material handling systems. It operates through four business segments, namely engineered support structures, utility support structures, coatings, and irrigation. The utility support structure segment produces aluminum, and composite poles, steel towers, industrial and architectural access systems. The company focuses on market penetration through superior customer service, technological innovation and consistency with high quality. It also focuses on product development and leveraging longstanding relationships with key distributors and end-users.


    Trinity Structural Towers, Inc. manufactures and designs tubular wind towers for the wind turbine industry in North America and Other region s It operates as a subsidiary of Trinity Industries, Inc. It offers pedestal mounts, towers, steel turbine components, product transportation services, concrete and aggregates, and specialized coatings. TRINITY s wind turbines portfolio has a capacity range of 1.7 MW to 3.4 MW. Trinity Structural Towers INC. focuses on innovation and development of structural towers. It strategically analyzes the need for tower capacity, which would involve sensor technology with high stability. The company actively aims for the strategic transformation of wind tower into high-tech tower in the future.


    The growth of the market vendors is dependent on market conditions, government support, and industry development. Players focus on strengthening their presence worldwide through mergers & acquisitions followed by new product launch and expansions during the forecast period. These strategies are widely adopted by players to enhance their presence in the steel wing tower market.