Growing Wind Power Capacity Driving Wind Tower Market

From around 180,000 Megawatts (MW) in 2010, the global installed capacity of wind plants grew massively to more than 733,000 MW in 2020, as per the International Renewable Energy Agency (IRENA). Moreover, as per a report by the Global Wind Energy Council (GWEC), the world needs to add 180 Gigawatts (GW) of wind energy capacity each year till 2050 if the net carbon emissions are to be reduced to zero. This reflects a significant surge in the wind tower market revenue in the future, as these are the most-essential components of a wind farm.

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There are several types of wind towers, each with its set of benefits. Of these, tubular steel towers, which are conical in shape, are the most popular. They offer higher strength to the nacelle and turbine as they are wider at their base and narrow at the top, which also helps save material. Being made from steel makes them ideal for heavy turbines. Even more advantageous are lattice towers, which are made from welded steel instead of sheets of the material, which reduces the investment. Moreover, these towers can be as long as required, and the transportation of the components is also easier.

Another benefit of such variants is that they let the wind pass through their base, which reduces the resistance and pressure on the overall tower. Then, there are guyed pole towers, which are created narrower than tubular towers and supported by wires. The inherent advantage of these towers is less material usage, which ultimately results in cost savings; they are ideal for smaller turbines and shorter towers. For highly perched turbines, hybrid towers made from steel and concrete are used.

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Asia-Pacific (APAC) has been the largest wind tower market till now, with China and India accounting for the highest and fourth-highest installed capacities in 2020, respectively, as per the IRENA. Moreover, according to the IEA, worldwide capacity additions till 2022 are expected to be led by Vietnam and South Korea, apart from France. Moreover, for 2021, the IEA expects onshore wind capacity additions to grow significantly in India. Further, as much as half the global increase in onshore wind capacity has been in China.

Hence, with the world looking at alternative ways to produce electricity, the demand for wind towers will burgeon.

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