Market outlook of the global wind tower market
Technavios market research analyst has estimated that the prospect for growth in this market is strongly driven by the wind energy industry, which is influenced by the rising environmental concerns, increased power demand, favorable government support, and the rising need to reduce dependency on fossil fuels. These factors are expected to stimulate the prospects for growth in this market and results in its impressive market value of more than USD 19 billion by 2019.
In this market research report, analysts estimate the APAC region to dominate the global market for wind towers during the forecast period. Market growth in this region is expected to be driven by factors like rapid industrialization, growing power demand, and government initiatives to back renewable power development. These factors promote market growth in this region during the forecast period and results in its high market share of nearly 44% by 2019.
Competitive landscape and key vendors
This market is highly competitive and is primarily dominated by large vendors like CS Wind Corp and Enercon Gmbh. Vendors that focus on designing robust and tall towers that can support large capacity turbines in both onshore and offshore conditions are expected to gain maximum prominence in this market.
Leading vendors in this market are -
CS Wind Corp
Shanghai Taisheng Wind Power Equipment
Trinity Structural Towers
Other prominent vendors analyzed in this market research are AMBAU, Dongkuk, Gamesa, GE, KGW, Siemens, Suzlon, and Win Wind.
Segmentation by type and analysis of the wind tower market
Technavio market research analysts have estimated the tubular steel towers segment to dominate over all the other segments during the forecast period. Growth in this segment is envisaged to be driven by factors like its cost effectiveness and its ability to provide strength to the wind turbine structures, which results in its impressive market share of almost 92% by 2019.
Application-based segmentation of the wind tower market
By application, the onshore segment is envisaged to account for more than 92% of the total market share by 2019. Rising onshore wind capacity across the globe is expected to account for this segments high market share during the forecast period.
Key questions answered in the report include
What will the market size and the growth rate be in 2019
What are the key factors driving the global wind tower market
What are the key market trends impacting the growth of the global wind tower market
What are the challenges to market growth
Who are the key vendors in the global wind tower market
What are the market opportunities and threats faced by the vendors in the global wind tower market
Trending factors influencing the market shares of the EMEA, Americas, and APAC
What are the key outcomes of the five forces analysis of the global wind tower market
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