Global Wind Tower Market Scenario
The
market has been witnessing significant growth opportunities globally, owing to
increase in the demand for wind towers on onshore or offshore projects. Strong
government support and initiatives for wind energy enhancement in several
countries around the world majorly drive the growth in the wind tower market.
Governments of both, the developed and the developing nations are strongly
promoting wind energy as an alternative to conventional energy sources and hence
are positively influencing the market for wind towers. Moreover, depletion of
fossil fuels and increase in demand for sustainable energy sources, is expected
to hold lucrative opportunity for market growth. However, the high maintenance
and replacement costs of wind turbines, is expected to restrain the market
growth.
Industry Highlights
The
wind is one of the cleanest sources of power. Wind turbines harness the power
of the wind to generate electricity. Wind tower is the support structure for a
wind turbine and its other components such as blades, turn around a rotor and
create electricity. It helps the wind
turbine blades to safely clear the ground and elevate the turbine to an optimal
height to generate electrical energy from the wind. As the speed increases with
altitude, it is better to install tall wind towers to produce maximum output.
Taller towers are desirable because winds are stronger at higher altitudes,
thereby producing more power for each turbine installed. The opportunity to
achieve 12% more power output per installed-turbine could not be realized
without addressing the key height issues of installing 80m or higher towers.
Wind
energy started with 40m to 50m towers that supported 400-kW to 660-kW turbines.
These structures were mostly a truss tower type and can still be seen in
certain "wind farm cradles. The towers with capacity range of 1.0-MW and
1.5-MW, became tubular steel structures and foundation design solutions were
needed to solve the ever-growing load demand on the structure. These tubular
steel structures have become the mainstay of the wind tower market.
North-America region is expected to grow at the
highest CAGR.
The wind
tower market share in the Europe region is currently leading, and is
followed by North America and Asia Pacific market. However, North America is
expected to grow at the highest CAGR, owing to the approval of various wind
tower farm projects in countries such as U.S. and Canada. This is because there
has been substantial investment into non-conventional electricity generation.
These factors will drive the market for wind tower market in North America
during the forecast period.
European governments and the EU, as a whole, have
supported wind projects with favourable incentives, as part of their carbon
emission reduction goals. The United Kingdom heads the field, with 46% of
global installed capacity, in 2015, followed by Germany (30%) and Denmark
(11.5%). Europe is currently the leading region in wind tower market, and is
followed by North America.
Leading Players
The
key players of global wind tower market are Suzlon Energy Limited (India),
Enercon GmbH (Germany), CS Wind Corporation (South Korea), General Electric
(U.S.), Siemens AG (Germany), Trinity Structural Towers, Inc. (U.S.) , Vestas
Wind Systems A/S (Denmark), Valmont
Industries, Inc. (U.S.), Ambau (Germany), and Broadwind Energy (U.S.)
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