Wind Turbine Towers, Update 2016 - Global Market Size, Average Price, Competitive Landscape and Key Country Analysis to 2020

Published: September 2016
No. of Pages: 215
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Wind is one the fastest-growing energy sources in the world. From an emerging fuel source 20 years ago, it has transformed into a commercial electricity-generating technology in more than 80 countries. Technological developments have paved the way for more effective and reliable equipment and machinery. The exponential growth of the market is fueled by depleting fossil-fuel reserves, the declining cost of wind power generation and a growing environmental awareness; it is being supported by financial incentives from various governments across the world.

Global wind power market consists primarily of onshore power capacity. Offshore wind technology is currently at a nascent stage of development and forms a small part of the global wind power market; accounting for 2.8% of the market in 2015. Around 90% of the global offshore wind power is installed in the water bodies of Northern Europe, and this has helped the region keep pace with its binding targets of deriving 20% of its energy consumption from renewable energy sources.

Global wind tower market increased from $13 billion in 2010 to $17.2 billion in 2015. This can be attributed to an addition of 67gigawatts (GW) of wind capacity in 2015, compared with 38.2 GW in 2010. The total wind capacity addition in the 2020 is expected be 67 GW, similar to 2015. However, the tower market is expected to drop to $14.5 Billion in 2020, mainly due to declining prices and increased tower heights to be used in larger turbines. Tower prices are expected to fall by 7% in 2020. Globally, between 2010 and 2015, around 280 GW of wind power was installed in 160,000 towers, and further 313 GW are expected during 2016–2020 using 135,000 towers.

Asia-Pacific was the global leader with a wind tower market value of $9.62 Billion, accounting for 56% of the global market in 2015, followed by the Americas with $3.7 Billion and 21.7%, and Europe with $3.6 Billion and 21.1%. In 2015, the Americas and Europe observed a capacity addition of 13.9 GW and 13.86 GW respectively, whereas the Middle East and Africa added just 705 MW.

In 2015, China was the global leader of the tower market with $7.6 Billion or 44.5% of the global share. The US was $2.4 Billion or 13.8% and Germany’s tower market value was $1.8 Billion or 10.5%, followed by India, Brazil, Canada, the UK and France with 5.1%, 4.1%, 2.4%, 1.7% and 1.4% respectively.

The report “Wind Turbine Towers, Update 2016 - Global Market Size, Average Price, Competitive Landscape and Key Country Analysis to 2020” offer comprehensive information and understanding of the global wind turbine tower market. The report offers in-depth analysis wind turbine tower market at global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, Canada, Mexico, Brazil, Germany, the UK, France, India, China and South Africa) level and analyzes the wind turbine installations, tower market value and average tower price for the historical (2010-2015) and forecast (2016-2020) period. Moreover, it also includes global and country specific competitive landscape, drivers and restraints of the wind turbine tower market.

Published By: GlobalData
Product Code: GlobalData36035

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