Global Wind Tower Market to Grow by $6.75 Billion Despite Ongoing Recession | Forecasting Business Strategies for the New Normal | Technavio

The wind tower market is expected to grow by USD 6.75 billion, progressing at a CAGR of over 4% during the forecast period. The spread of the COVID-19 pandemic has left a negative impact on the growth of the market. Governments across the world imposed lockdowns to contain the spread of the novel coronavirus. This resulted in a partial or complete shutdown of manufacturing activities in the short term, which significantly affected the market demand. However, the market is expected to recover and post healthy growth as many companies are resuming their operations and things are getting back to normal. In addition, many governments worldwide are making significant investments in the installation of wind power systems, which is creating a significant rise in demand for wind towers globally.

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Technavio has announced its latest market research report titled Global Wind Tower Market 2020-2024 (Graphic: Business Wire)

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The increasing demand for heightened wind towers is one of the major factors propelling the market growth. The wind blows more steadily in higher altitudes. Also, high-altitude wind towers produce more power from a single wind turbine, thereby reducing the total number of turbines needed in a wind farm. Hence, significant investments are being made in the development and installation of heightened wind towers. Besides, increasing government support for wind energy projects is expected to foster market growth during the forecast period.

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Wind Tower Market: Product Landscape

Based on the product, the market saw maximum growth in the tubular steel towers segment in 2019. Tubular steel towers are considered the most economical solution and a proven concept of having a short installation time. This is one of the key factors driving the segment growth.

Wind Tower Market: Geographic Landscape

By geography, APAC is going to have a lucrative growth during the forecast period. About 56% of the market’s overall growth is expected to originate from APAC. The growth of the market in APAC is driven by the increasing investments in airborne wind turbines.

China and India are the key markets for the wind tower market in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the wind tower market size.

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Companies Covered:

• Acciona SA
• Arcosa Inc.
• Broadwind Energy Inc.
• CS WIND Corp.
• ENERCON GmbH
• Nordex SE
• Valmont Industries Inc.
• Vestas Wind System AS
• Windar Renovables
• Xinjiang Goldwind Science & Technology Co. Ltd.

What our reports offer:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers market data for 2019, 2020, until 2024
• Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Key Topics Covered:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by Product
• Tubular steel towers - Market size and forecast 2019-2024
• Concrete towers - Market size and forecast 2019-2024
• Other towers - Market size and forecast 2019-2024
• Market opportunity by Product

Market Segmentation by Application

• Market segments
• Comparison by Application
• Onshore - Market size and forecast 2019-2024
• Offshore - Market size and forecast 2019-2024
• Market opportunity by Application

Customer landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Acciona SA
• Arcosa Inc.
• Broadwind Energy Inc.
• CS WIND Corp.
• ENERCON GmbH
• Nordex SE
• Valmont Industries Inc.
• Vestas Wind System AS
• Windar Renovables
• Xinjiang Goldwind Science & Technology Co. Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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