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PUBLISHER: Grand View Research | PRODUCT CODE: 1553962
PUBLISHER: Grand View Research | PRODUCT CODE: 1553962
Wind Turbine Tower Market Size, Share & Trends Analysis Report By Type (Steel Tower, Concrete Tower, Hybrid Tower), By Installation (Offshore, Onshore), By Region, And Segment Forecasts, 2024 - 2030
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Wind Turbine Tower Market Size & Trends:
The global wind turbine tower market size was estimated at USD 27.78 billion in 2023 and is projected to grow at a CAGR of 8.1% from 2024 to 2030. The global market is primarily driven by the increasing demand for clean, renewable energy sources as countries worldwide aim to reduce their carbon footprint and combat climate change. Governments are implementing supportive policies, such as tax incentives and renewable energy targets, to encourage the adoption of wind power.
For example, the European Union has set a target to derive 32% of its energy from renewable sources by 2030. China aims to be carbon neutral by 2060, driving significant investments in wind energy infrastructure.
Technological advancements in wind turbine design and manufacturing have also significantly propelled the market growth. Innovations such as taller towers and larger rotor diameters enhance the efficiency and energy output of wind turbines. Taller towers can access stronger and more consistent wind currents at higher altitudes, which translates to increased energy generation. For example, the latest generation of wind turbines can have towers exceeding 100 meters in height, enabling them to harness more wind power. These advancements not only improve the overall performance of wind turbines but also make wind energy more competitive with traditional energy sources, further driving market growth.
Government policies and incentives are another critical factors driving the global market growth. Many governments worldwide are implementing supportive policies, including subsidies, tax incentives, and feed-in tariffs, to encourage the adoption of wind energy. The U.S., for instance, offers the Production Tax Credit (PTC) and the Investment Tax Credit (ITC), which have been instrumental in promoting wind power projects. Similarly, the Chinese government provides substantial subsidies and favorable policies to support the wind energy sector, making it one of the largest markets for wind turbine towers globally. These policy measures create a favorable investment environment, attracting both domestic and international players to the wind energy market.
Moreover, the declining cost of wind energy is a significant factor triggering the growth of the market. Over the past decade, the cost of wind power has decreased considerably due to economies of scale, improved supply chain efficiencies, and technological innovations. This cost reduction makes wind energy an increasingly attractive option for power generation, especially in regions with high wind potential. For example, the Levelized Cost of Energy (LCOE) for wind has reached competitive levels compared to fossil fuels in many markets. This economic viability is encouraging more investments in wind power projects, thereby driving the demand for wind turbine towers. As these driving factors continue to evolve and strengthen, the global market is poised for sustained growth and development.
Global Wind Turbine Tower Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the wind turbine tower market report on the basis of installation, type, and region:
- Installation Outlook (Revenue, USD Billion, 2018 - 2030)
- Offshore
- Onshore
- Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Steel Tower
- Concrete Tower
- Hybrid Tower
- Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Central & South America
- Brazil
- Middle East & Africa
- UAE
Product Code: GVR-4-68040-388-1
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Materials & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
- 1.7. List of Abbreviations
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Billion)
- 2.2. Segmental Outlook
- 2.3. Competitive Landscape Snapshot
Chapter 3. Wind Turbine Tower Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration and Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.4. Regulatory Framework
- 3.4.1. Standard & Compliance
- 3.4.2. Safety
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Challenges Analysis
- 3.5.4. Market Opportunity Analysis
- 3.6. Business Environment Analysis
- 3.6.1. Industry Analysis - Porter's Five Forces Analysis
- 3.6.2. PESTEL Analysis
Chapter 4. Wind Turbine Tower Market: Installation Estimates & Trend Analysis
- 4.1. Definition & Scope
- 4.2. Installation Movement Analysis & Market Share, 2023 & 2030
- 4.3. Offshore
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Billion)
- 4.4. Onshore
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Wind Turbine Tower Market: Type Estimates & Trend Analysis
- 5.1. Definition & Scope
- 5.2. Type Movement Analysis & Market Share, 2023 & 2030
- 5.3. Steel Tower
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Billion)
- 5.4. Concrete Tower
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Billion)
- 5.5. Hybrid Tower
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Wind Turbine Tower Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Movement Analysis & Market Share, 2023 & 2030
- 6.3. North America
- 6.3.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.3.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.3.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.3.4. U.S.
- 6.3.4.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.3.4.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.3.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.3.5. Canada
- 6.3.5.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.3.5.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.3.5.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.3.6. Mexico
- 6.3.6.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.3.6.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.3.6.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.4. Europe
- 6.4.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.4.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.4.4. Germany
- 6.4.4.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.4.4.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.4.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.4.5. U.K.
- 6.4.5.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.4.5.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.4.5.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.4.6. France
- 6.4.6.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.4.6.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.4.6.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.4.7. Italy
- 6.4.7.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.4.7.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.4.7.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.4.8. Spain
- 6.4.8.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.4.8.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.4.8.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.5. Asia Pacific
- 6.5.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.5.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.5.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.5.4. China
- 6.5.4.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.5.4.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.5.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.5.5. India
- 6.5.5.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.5.5.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.5.5.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.5.6. Japan
- 6.5.6.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.5.6.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.5.6.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.5.7. South Korea
- 6.5.7.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.5.7.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.5.7.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.5.8. Australia
- 6.5.8.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.5.8.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.5.8.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.6. Central & South America
- 6.6.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.6.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.6.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.6.4. Brazil
- 6.6.4.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.6.4.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.6.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.7. Middle East & Africa
- 6.7.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.7.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.7.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- 6.7.4. UAE
- 6.7.4.1. market estimates and forecasts, 2018 - 2030 (USD Billion)
- 6.7.4.2. market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- 6.7.4.3. market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
Chapter 7. Competitive Landscape
- 7.1. Key Players & Recent Developments & Their Impact on the Industry
- 7.2. Key Company/Competition Categorization
- 7.3. List of key Components Suppliers and Channel Partners
- 7.4. Company Market Share & Position Analysis, 2023
- 7.5. Company Heat Map Analysis
- 7.6. Competitive Dashboard Analysis
- 7.7. Strategy Mapping
- 7.7.1. Collaboration/ Partnerships/ Agreements
- 7.7.2. New Product launches
- 7.7.3. Mergers & Acquisitions
- 7.7.4. Research & Development
- 7.7.5. Others
- 7.8. Company Listing/Profiles
- 7.8.1. Siemens Gamesa Renewable Energy, S.A.U.
- 7.8.1.1. Company Overview
- 7.8.1.2. Financial Performance
- 7.8.1.3. Product Benchmarking
- 7.8.2. Arcosa Wind Towers, Inc.
- 7.8.3. US Forged Rings Inc.
- 7.8.4. CS Wind
- 7.8.5. Marmen
- 7.8.6. Modvion
- 7.8.7. CNBM
- 7.8.8. GRI Renewable Industries
- 7.8.9. Vestas
- 7.8.10. Pemamek
- 7.8.11. PVUNITE Ltd.
- 7.8.12. SENLISWELD
- 7.8.13. Rohn Products, LLC
- 7.8.14. Ventower Industries
- 7.8.15. Global Energy (Group) Limited
- 7.8.1. Siemens Gamesa Renewable Energy, S.A.U.
Product Code: GVR-4-68040-388-1
List of Tables
- Table 1. Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 2. Offshore Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 3. Onshore Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 4. Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 5. Wind Turbine Tower market estimates and forecasts, by Steel Tower, 2018 - 2030 (USD Billion)
- Table 6. Wind Turbine Tower market estimates and forecasts, by Concrete Tower, 2018 - 2030 (USD Billion)
- Table 7. Wind Turbine Tower market estimates and forecasts, by Hybrid Tower, 2018 - 2030 (USD Billion)
- Table 8. Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 9. North America Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 10. North America Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 11. North America Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 12. U.S. Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 13. U.S. Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (Units) (USD Billion)
- Table 14. U.S. Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (Units) (USD Billion)
- Table 15. Canada Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 16. Canada Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 17. Canada Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 18. Mexico Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 19. Mexico Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 20. Mexico Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 21. Europe Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 22. Europe Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 23. Europe Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 24. Germany Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 25. Germany Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 26. Germany Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 27. UK Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 28. UK Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 29. UK Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 30. France Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 31. France Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 32. France Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 33. Italy Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 34. Italy Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 35. Italy Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 36. Spain Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 37. Spain Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 38. Spain Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 39. Asia Pacific Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 40. Asia Pacific Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 41. Asia Pacific Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 42. China Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 43. China Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 44. China Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 45. Japan Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 46. Japan Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 47. Japan Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 48. India Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 49. India Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 50. India Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 51. South Korea Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 52. South Korea Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 53. South Korea Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 54. Australia Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 55. Australia Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 56. Australia Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 57. Central & South America Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 58. Central & South America Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 59. Central & South America Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 60. Brazil Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 61. Brazil Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 62. Brazil Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 63. Middle East & Africa Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 64. Middle East & Africa Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 65. Middle East & Africa Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
- Table 66. UAE Wind Turbine Tower market estimates and forecasts, 2018 - 2030 (USD Billion)
- Table 67. UAE Wind Turbine Tower market estimates and forecasts, by installation, 2018 - 2030 (USD Billion)
- Table 68. UAE Wind Turbine Tower market estimates and forecasts, by type, 2018 - 2030 (USD Billion)
List of Figures
- 1. Information Procurement
- 2. Primary Research Pattern
- 3. Primary Research Process
- 4. Market Research Approaches - Bottom-Up Approach
- 5. Market Research Approaches - Top-Down Approach
- 6. Market Research Approaches - Combined Approach
- 7. Wind Turbine Tower Market- Market Snapshot
- 8. Wind Turbine Tower Market- Segment Snapshot (1/2)
- 9. Wind Turbine Tower Market- Segment Snapshot (2/2)
- 10. Wind Turbine Tower Market- Competitive Landscape Snapshot
- 11. Wind Turbine Tower Market: Penetration & Growth Prospect Mapping
- 12. Wind Turbine Tower Market: Value Chain Analysis
- 13. Wind Turbine Tower Market: Porter's Five Force Analysis
- 14. Wind Turbine Tower Market: PESTEL Analysis
- 15. Wind Turbine Tower market: Installation Movement Analysis, 2023 & 2030
- 16. Wind Turbine Tower market: Type Movement Analysis, 2023 & 2030
- 17. Wind Turbine Tower market: Regional Movement Analysis, 2023 & 2030
- 18. Wind Turbine Tower Market: Competitive Dashboard Analysis
- 19. Wind Turbine Tower Market: Market Share Analysis, 2023
- 20. Wind Turbine Tower Market: Market Positioning Analysis
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