Global Steel Wind Tower market


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 2023

Steel Wind Tower Market Research Report By

Forecast 2023

Industry Survey, Growth, Competitive Landscape

and Forecasts to 2023


Market Research Future

(Part of Wantstats Research & Media Pvt. Ltd.)


Steel Wind Tower Market Forecast To 2023

Steel Wind Tower Market Forecast To 2023

• The global market for steel wind tower 2020 is all set to touch a decent valuation of more than USD

19,800 million by 2023, estimates Market Research Future (MRFR). MRFR also projects that the

global market can achieve a growth rate of 6.44% over the forecast timeframe (2018 to 2023).


Steel Wind Tower Market Forecast To 2023

“Taste the market data and market information presented through more than 50 market data tables

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TOC & market synopsis on Steel Wind Tower Market Forecast To 2023”

• The global market for steel wind tower is backed by numerous factors, including increasing

investments in wind energy combined with supportive government initiatives as well as policies.

Policy interventions across various countries, such as Sustainable Development Goals (SDGs) and

Nationally Determined Contributions (NDCs), are inducing strong demand for renewable energy all

over the world, which can work in favor of the steel wind tower market in the following years.

• Strict regulations for the conservation of the environment are encouraging the power sector to

move towards clean and eco-friendly energy resources. Moreover, rising power consumption in

several developing countries is also inducing major market growth. There is a high chance that in

the near future, the cost of electricity generated with the use of wind energy can decline

significantly, given the surge in technological advancements. This can give rise to several lucrative

opportunities in the Global Steel Wind Tower market during the evaluation period. Wind turbine

manufacturers are constantly innovating and adopting effective market hacks that can help them

expand their customer share during the review period.


Steel Wind Tower Market Forecast To 2023

Global Steel Wind Tower Market Segmented on the basis of

Height range and application are the top segments as per which the global market for steel wind tower

has been studied extensively in the MRFR report.

The different types of wind turbines made with steel, on the basis of height range include above 140

meters, 40 meters – 80 meters, up to 40 meters as well as 80 meters – 140 meters. Out of these, the 40

meters – 80meter segment dominates the market and is likely to maintain its lead in 2019 and beyond.

The segment can attain a CAGR of 6.57% from 2018 to 2023, on account of the affordability as well as easy

maintenance of the wind towers that range from 40 meters to 80 meters.

With respect to application, the market segments are onshore wind power as well as offshore wind power.

The onshore segment can outperform its counterpart during the assessment timeframe, as it currently

holds more than two-third share of the global market and can record a decent growth rate in the years



Steel Wind Tower Market Forecast To 2023

Global Steel Wind Tower Market - Geographical Analysis

• The main regions where the global steel wind tower market can expand rapidly during the evaluation period

are North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East & Africa (MEA).

• APAC is the leading market for steel wind tower and in 2017, the region seized a share of more than 40%, with

respect to value. With the substantial surge in the consumption of renewable energy and the huge

contribution from developing countries like Australia, India, and China, the steel wind tower market in the

region is bound to expand at a robust pace. China standouts among all the countries in the region and has

been valued the highest by MRFR experts. The country consists of the highest offshore wind capacity in the

region and can turn out to be a hotspot for steel wind tower in the next couple of years.

• Europe is the second leading market for steel wind tower, on account of high industrialization as well as

urbanization. foreign direct investments (FDIs) in offshore and onshore wind energy across various countries

also benefit the regional market.

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Steel Wind Tower Market Forecast To 2023

Global Steel Wind Tower Market - Competitive Analysis

• ENERCON GmbH, Zhejiang Guoxing Wind Power Technology Co., Ltd., Aeolos Wind Energy Ltd., Broadwind Energy,

Inc., Siemens Gamesa Renewable Energy, Suzlon Energy Limited, Goldwind, Valmont Industries, Inc., Vestas Wind

Systems A/S, Ib Andresen Industri, Trinity Structural Towers, Inc., S.A., CSWIND CORPORATION, Senvion S.A.,

Morrison Berkshire, Inc., Windar Renovables, Qingdao Wuxiao Group Co., Ltd, are some of the top-notch

companies in the global market for steel wind tower.

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