Market Overview:
The global steel wind tower market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for renewable energy sources across the globe and rising concerns about climate change. Steel wind towers are used in large-scale wind farms for generating electricity from wind power. The global steel wind tower market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into below 1.5 MW, 1.5-2 MW, 2-3 MW 3-5 MW and above 5MW segments respectively. Onshore applications accounted for a majority share of the global steelwind towermarket in 2017and are expected to dominatethe market duringthe forecast period as well owingto government initiativesand subsidiesfor promoting renewable energy sources over conventional ones .
Product Definition:
A steel wind tower is a tall, cylindrical structure used to support a wind turbine. The tower helps to position the turbine blades so that they can capture the most wind energy possible. Additionally, the tower helps to keep the turbine blades away from people and buildings. Steel towers are typically made of tubular steel sections that are welded together. They can be as tall as 300 feet (91 meters) or more.
Below 1.5 MW:
Below 1.5 MW is the power range which is generally used for small scale applications like residential and commercial buildings, schools, hospitals, telecom towers and other utility-scale applications. The market size of below 1.5 MW products in 2015 was valued at USD 2.72 billion and it is expected to grow at a CAGR of XX% from 2016 to 2024 (in terms of revenue).
1.5-2.0 MW:
1.5-2.0 MW is the range of wind turbine sizes that are used for commercial applications, such as offshore oil and gas production facilities, utility power plants, and residential/commercial buildings with an installed capacity of 2MW or less. The 1.5-2.0 MW size category covers turbines up to 65 feet in diameter which can produce power equivalent to a 6-10 MW generator set operating at its base load condition (60 minutes).
Application Insights:
Onshore application dominated the global steel wind tower market, accounting for over 75% of the total revenue in 2017. The segment is expected to witness significant growth on account of increasing demand from residential and commercial sectors. Rapid urbanization coupled with strong economic development in emerging economies such as China, India and Brazil has led to increased onshore projects across the globe.
The offshore segment is projected to expand at a CAGR of XX% from 2018 to 2030 owing to growing government support for renewable energy sources including wind power along with rising investments by companies in developing countries such as Mexico, South Africa and Morocco among others. In addition, robust growth in marine applications is expected drive demand over the forecast period due to rapid expansion of oil & gas industries which require huge turbines for generating electricity offshore since these are large scale units compared with land based turbines hence driving product demand offshore globally.
Regional Analysis:
Asia Pacific dominated the global steel wind tower market in 2016 and is expected to continue its dominance over the forecast period. The presence of large-scale steel manufacturing facilities in China, Japan, India, South Korea and Taiwan coupled with growing offshore oil & gas E&P activities across the region is anticipated to drive product demand. In addition, increasing government initiatives for developing renewable energy sources are likely to have a positive impact on industry growth.
North America accounted for a significant share of revenue in 2016 owing to rising investments by prominent players operating within this region towards research & development activities aimed at improving product efficiency and lowering costs associated with installation process. Moreover, growing offshore oil & gas E&P sector primarily within U.S.
Growth Factors:
- Increasing demand for wind energy: The global demand for wind energy is increasing rapidly due to the growing concerns over climate change and rising electricity costs. This is expected to drive the growth of the steel wind tower market in the coming years.
- Technological advancements: The steel wind tower market is witnessing rapid technological advancements, with manufacturers introducing new and innovative products in order to meet the growing demand from consumers. This is likely to boost the growth of this market in the near future.
- Rising investment in renewable energy: There has been a significant increase in investment towards renewable energy sources such as solar and wind power across the globe in recent years, owing to their environmental benefits over traditional sources of energy generation such as coal-fired power plants. This is likely to create lucrative opportunities for players operating in this market over the next few years.
Scope Of The Report
Report Attributes
Report Details
Report Title
Steel Wind Tower Market Research Report
By Type
Below 1.5 MW, 1.5-2.0 MW, 2.0-3.0 MW, 3.0-5.0 MW, Above 5.0 MW
By Application
Onshore, Offshore
By Companies
Trinity Structural Towers, CS Wind Corporation, Dongkuk S&C, KGW Schweriner Maschinen, Vestas, Enercon, Win & P, Broadwind Energy, Marmen Industries, Valmont, Speco, Titan Wind Energy, Shanghai Taisheng, Dajin Heavy Industry, Tianneng Electric Power, Haili Wind Power, Qingdao Wuxiao, Chengxi Shipyard, CNR Wind Turbine, China Gezhouba Group, Qingdao Pingcheng Steel Structure
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
235
Number of Tables & Figures
165
Customization Available
Yes, the report can be customized as per your need.
Global Steel Wind Tower Market Report Segments:
The global Steel Wind Tower market is segmented on the basis of:
Types
Below 1.5 MW, 1.5-2.0 MW, 2.0-3.0 MW, 3.0-5.0 MW, Above 5.0 MW
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Trinity Structural Towers
- CS Wind Corporation
- Dongkuk S&C
- KGW Schweriner Maschinen
- Vestas
- Enercon
- Win & P
- Broadwind Energy
- Marmen Industries
- Valmont
- Speco
- Titan Wind Energy
- Shanghai Taisheng
- Dajin Heavy Industry
- Tianneng Electric Power
- Haili Wind Power
- Qingdao Wuxiao
- Chengxi Shipyard
- CNR Wind Turbine
- China Gezhouba Group
- Qingdao Pingcheng Steel Structure
Highlights of The Steel Wind Tower Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Below 1.5 MW
- 1.5-2.0 MW
- 2.0-3.0 MW
- 3.0-5.0 MW
- Above 5.0 MW
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Steel Wind Tower Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Steel Wind Tower is a steel-framed tower that has been designed to withstand winds speeds of up to 250 mph. The tower is located in Buffalo, New York and was completed in 2014.
Some of the major players in the steel wind tower market are Trinity Structural Towers, CS Wind Corporation, Dongkuk S&C, KGW Schweriner Maschinen, Vestas, Enercon, Win & P, Broadwind Energy, Marmen Industries, Valmont, Speco, Titan Wind Energy, Shanghai Taisheng, Dajin Heavy Industry, Tianneng Electric Power, Haili Wind Power, Qingdao Wuxiao, Chengxi Shipyard, CNR Wind Turbine, China Gezhouba Group, Qingdao Pingcheng Steel Structure.
The steel wind tower market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Steel Wind Tower Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Steel Wind Tower Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Steel Wind Tower Market - Supply Chain
4.5. Global Steel Wind Tower Market Forecast
4.5.1. Steel Wind Tower Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Steel Wind Tower Market Size (000 Units) and Y-o-Y Growth
4.5.3. Steel Wind Tower Market Absolute $ Opportunity
5. Global Steel Wind Tower Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Steel Wind Tower Market Size and Volume Forecast by Type
5.3.1. Below 1.5 MW
5.3.2. 1.5-2.0 MW
5.3.3. 2.0-3.0 MW
5.3.4. 3.0-5.0 MW
5.3.5. Above 5.0 MW
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Steel Wind Tower Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Steel Wind Tower Market Size and Volume Forecast by Application
6.3.1. Onshore
6.3.2. Offshore
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Steel Wind Tower Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Steel Wind Tower Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Steel Wind Tower Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Steel Wind Tower Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Steel Wind Tower Demand Share Forecast, 2019-2026
9. North America Steel Wind Tower Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Steel Wind Tower Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Steel Wind Tower Market Size and Volume Forecast by Application
9.4.1. Onshore
9.4.2. Offshore
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Steel Wind Tower Market Size and Volume Forecast by Type
9.7.1. Below 1.5 MW
9.7.2. 1.5-2.0 MW
9.7.3. 2.0-3.0 MW
9.7.4. 3.0-5.0 MW
9.7.5. Above 5.0 MW
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Steel Wind Tower Demand Share Forecast, 2019-2026
10. Latin America Steel Wind Tower Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Steel Wind Tower Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Steel Wind Tower Market Size and Volume Forecast by Application
10.4.1. Onshore
10.4.2. Offshore
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Steel Wind Tower Market Size and Volume Forecast by Type
10.7.1. Below 1.5 MW
10.7.2. 1.5-2.0 MW
10.7.3. 2.0-3.0 MW
10.7.4. 3.0-5.0 MW
10.7.5. Above 5.0 MW
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Steel Wind Tower Demand Share Forecast, 2019-2026
11. Europe Steel Wind Tower Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Steel Wind Tower Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Steel Wind Tower Market Size and Volume Forecast by Application
11.4.1. Onshore
11.4.2. Offshore
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Steel Wind Tower Market Size and Volume Forecast by Type
11.7.1. Below 1.5 MW
11.7.2. 1.5-2.0 MW
11.7.3. 2.0-3.0 MW
11.7.4. 3.0-5.0 MW
11.7.5. Above 5.0 MW
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Aalysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Steel Wind Tower Demand Share, 2019-2026
12. Asia Pacific Steel Wind Tower Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Steel Wind Tower Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Steel Wind Tower Market Size and Volume Forecast by Application
12.4.1. Onshore
12.4.2. Offshore
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Steel Wind Tower Market Size and Volume Forecast by Type
12.7.1. Below 1.5 MW
12.7.2. 1.5-2.0 MW
12.7.3. 2.0-3.0 MW
12.7.4. 3.0-5.0 MW
12.7.5. Above 5.0 MW
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Steel Wind Tower Demand Share, 2019-2026
13. Middle East & Africa Steel Wind Tower Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Steel Wind Tower Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Steel Wind Tower Market Size and Volume Forecast by Application
13.4.1. Onshore
13.4.2. Offshore
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Steel Wind Tower Market Size and Volume Forecast by Type
13.7.1. Below 1.5 MW
13.7.2. 1.5-2.0 MW
13.7.3. 2.0-3.0 MW
13.7.4. 3.0-5.0 MW
13.7.5. Above 5.0 MW
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Steel Wind Tower Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Steel Wind Tower Market: Market Share Analysis
14.2. Steel Wind Tower Distributors and Customers
14.3. Steel Wind Tower Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Trinity Structural Towers
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. CS Wind Corporation
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Dongkuk S&C
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. KGW Schweriner Maschinen
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Vestas
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Enercon
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Win & P
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Broadwind Energy
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Marmen Industries
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Valmont
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Speco
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Titan Wind Energy
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Shanghai Taisheng
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Dajin Heavy Industry
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Tianneng Electric Power
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Haili Wind Power
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Qingdao Wuxiao
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Chengxi Shipyard
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. CNR Wind Turbine
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. China Gezhouba Group
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
