Tuesday 5 May 2020

Global Wind Tower Market Size: 2020 Global Analysis By Opportunities and Forecast to 2023


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. The global wind tower market size is expected to reach more than USD 26 Billion by 2023 with a CAGR of 7.45%. 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.

MRFR analysts have predicted that wind energy industry is about to grow at a rapid pace. Moreover, the economic growth with emissions reduction have given the growth, a momentum. 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.
Initial research showed that, while a composite tower would reduce weight, it would not be able to achieve the required stiffness levels and thus would be subject to unacceptable resonance oscillation forces. The company applied its learning and adapted the composite design to a highly innovative steel space frame structure that achieved all of the design objectives.
Several tower designs have been proposed for 100m and more. Conventional 80 to 100m towers could be placed atop the 31m tall concrete foundation for hub heights 111 to 131m. The wider than conventional base also allows using less concrete and rebar in the foundation.
Global wind tower market is expected to be very broad in the coming years.

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.)

North-America region is expected to grow at the highest CAGR.

The wind tower market 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.

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