Pune, Jan. 06, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research is a leading market research company that has published report on “Wind Turbine Tower Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape and benchmarking of key market players. Wind Turbine Tower Market size was valued at USD 28.97 Billion in 2021 and is expected to grow by 7.90 percent from 2022 to 2029, reaching nearly USD 53.23 Billion.
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Wind Turbine Tower Market Scope and Research Methodology
The Wind Turbine Tower Market research report covers product classification, product application, development trends, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc. The report includes drivers, opportunities, and restraints affecting the global market. It covers the impact of these drivers, trends, and restraints on the demand of the market during the forecast period. The report also highlights opportunities in the market at the global level.
The report focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future, comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players. The research report involves the extensive usage of both primary and secondary data sources.
Wind Turbine Tower Market Overview
The wind turbine tower is a tall structure made of steel or other materials that houses the blade rotor. Large wind turbine towers are built with durable materials such as lattice, steel, or concrete. The length of the wind turbine tower is determined by the wind turbine's energy production capacity and the size of its blades. The height of the wind turbine tower is also determined by airflow and efficiency. Wind energy is being promoted by governments around the world as an alternative to traditional energy sources, which has a positive impact on the wind turbine tower market.
The report provides a comprehensive analysis of every aspect of the Wind Turbine Tower market including the market size and growth rate, with a historic period of 2017–2021 and forecasts for 2022–2029 while 2021 is considered as a base year for estimations. The report also covers devoted sections for each segment along with regional coverage through information and statistics on the drivers, restraints, opportunities, challenges, trends, and other factors impacting global Wind Turbine Tower market growth. Additionally, the report covers the exclusive analysis of the market by using marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, and Competitive benchmarking, among others.
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Wind Turbine Tower Market Dynamics
Growing Investment in Wind Energy Driving the Growth of the Wind Turbine Tower Market
A rise in environmental protection regulations around the world has compelled the power generation industry to shift to cleaner, more environmentally friendly energy sources. The development of renewable energy power generation is a top priority for major economies all over the globe as a way to reduce their reliance on conventional power generation using fossil fuels. Wind energy is a significant renewable energy source with the potential to address many global concerns. In 2019, the world installed 60.4 GW of new wind power projects, bringing the total amount of installed wind power to 651 GW. The Asia Pacific region accounted for 50.7 percent of all new installations. As a result, the enormous annual increase in wind power capacity is undoubtedly strengthening the global wind turbine tower market.
Government Initiatives and Incentives to Boost the Growth of the Wind Turbine Tower Market
The past record of investments in renewable energy over the past few years shows that efforts are well underway to lessen the world's dependence on coal & other fossil fuels. As a result, several new wind energy plans are being established all over the world & will begin steadily adding to the world's energy mix in the next years. The major role played by government efforts & policies is one of the key factors influencing the wind turbine tower market’s growth. The main energy policies that are specifically targeted at the wind industry are found in many countries, including the United States, China, Japan, & EU nations. These policies contain feed-in tariffs, tax credits, net metering, and capital subsidies.
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| Market Size in 2021 | USD 28.97 Bn. |
| Market Size in 2029 | USD 53.23 Bn. |
| CAGR | 7.90% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 200 |
| No. of Tables | 105 |
| No. of Charts and Figures | 103 |
| Segment Covered | Type, Deployment |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
Wind Turbine Tower Market Key Competitors include:
- Arcosa Inc. (United States)
- Bergey Wind Power Co. (United States)
- Clipper Windpower Plc. (United States)
- XzeresWind Corp. (United States)
- Trinity Structural Towers Inc. (United States)
- Valmont Industries Inc. (United States)
- Bouygues Construction SA (United States)
- Broadwind Energy Inc (United States)
- Marmen Inc. (Canada)
- KGW Schweriner Maschinen und Anlagenbau GmbH (Germany)
- Enel Green Power (Italy)
- ENERCON GmbH (Germany)
- CS WIND Corp. (South Korea)
- Dongkuk S and C (South Korea)
- Sinovel (China)
- Dongfang Electric Corporation (China),
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Key questions answered in the Wind Turbine Tower Market are:
- What are Wind Turbine Tower?
- What is the current growth rate of the Wind Turbine Tower Market?
- Who are the key players in the Wind Turbine Tower Market?
- What are the factors affecting growth in the Wind Turbine Tower Market?
- Who held the largest market share in Wind Turbine Tower Market?
- What are the opportunities for the Wind Turbine Tower Market?
- What are the strategies used by competitors in the Wind Turbine Tower Market?
- What are the growth prospects in developing countries for the Wind Turbine Tower Market?
- Which segment is expected to witness the fastest growth and why in the Wind Turbine Tower Market?
- What is the demand pattern for the Wind Turbine Tower Market?
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