Wind Tower Market Projected to Grow at 7.90% CAGR, Reaching $57.41 Billion by 2030

𝐖𝐢𝐧𝐝 𝐓𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰

The global wind tower market is experiencing substantial growth, driven by increasing investments in renewable energy and advancements in wind power technology. This press release highlights the market's growth trajectory, key mergers and acquisitions, and recent developments, with specific insights into Vietnam, Thailand, Japan, China, South Korea, Singapore, the US, and Europe.

The global wind tower market was valued at USD 33.71 billion in 2023 and is projected to grow at a CAGR of 7.90 % during the forecast period of 2024-2030, reaching an estimated market size of USD 57.41 billion by 2030. Increasing demand for renewable energy sources and supportive government policies are key factors fueling this growth.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/30127/

Country-Specific Insights

𝐆𝐫𝐨𝐰𝐭𝐡 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦

Vietnam has emerged as a hotspot for wind energy investments. With the government's 𝐏𝐨𝐰𝐞𝐫 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐏𝐥𝐚𝐧 𝐕𝐈𝐈𝐈 emphasizing renewable energy, new projects like the 𝐁𝐚𝐜 𝐋𝐢𝐞𝐮 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐏𝐥𝐚𝐧𝐭 have positioned Vietnam as a significant player in Southeast Asia. The country witnessed mergers such as 𝐀𝐂𝐖𝐀 𝐏𝐨𝐰𝐞𝐫'𝐬 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐰𝐢𝐭𝐡 𝐥𝐨𝐜𝐚𝐥 𝐞𝐧𝐭𝐢𝐭𝐢𝐞𝐬,, further boosting the market.

𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

Thailand's wind energy sector is evolving rapidly. The government aims to achieve 30% renewable energy capacity by 2030, with a focus on wind power. Notable projects like the 𝐓𝐡𝐞𝐩𝐩𝐚𝐧𝐚 𝐖𝐢𝐧𝐝 𝐅𝐚𝐫𝐦, developed by 𝐆𝐮𝐥𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭, underline this growth. Recent investments from international players, including 𝐒𝐢𝐞𝐦𝐞𝐧𝐬 𝐆𝐚𝐦𝐞𝐬𝐚, are expected to enhance Thailand's wind energy potential.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

Japan's shift towards carbon neutrality has spurred significant investments in wind energy. Projects such as the 𝐊𝐚𝐬𝐡𝐢𝐦𝐚 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐖𝐢𝐧𝐝 𝐅𝐚𝐫𝐦 highlight this trend. Collaborations like 𝐌𝐢𝐭𝐬𝐮𝐛𝐢𝐬𝐡𝐢 𝐇𝐞𝐚𝐯𝐲 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬' 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 𝐰𝐢𝐭𝐡 𝐕𝐞𝐬𝐭𝐚𝐬 have strengthened the market. Japan's advanced technology adoption and offshore wind energy focus position it for robust growth.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/30127/

𝐆𝐫𝐨𝐰𝐭𝐡 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐂𝐡𝐢𝐧𝐚

China dominates the global wind tower market, accounting for nearly 50% of global installations in 2023. The country's ambitious Carbon Neutrality Plan by 2060 has spurred investments in large-scale wind projects. Companies like 𝐆𝐨𝐥𝐝𝐰𝐢𝐧𝐝 and 𝐂𝐡𝐢𝐧𝐚 𝐌𝐢𝐧𝐠 𝐘𝐚𝐧𝐠 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐆𝐫𝐨𝐮𝐩 lead the market, with a significant emphasis on offshore and high-altitude wind energy systems.

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚

South Korea's focus on offshore wind energy is evident in projects like the 𝐒𝐨𝐮𝐭𝐡𝐰𝐞𝐬𝐭 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐖𝐢𝐧𝐝 𝐏𝐫𝐨𝐣𝐞𝐜𝐭. Government support through initiatives such as the Green New Deal has attracted key players like Ørsted and Hyundai Heavy Industries. The market is set to expand as the country aims for 20% renewable energy by 2030.

𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

Singapore's small landmass poses challenges, but the country is innovating with offshore and hybrid solutions. The Renewable Energy Integration Demonstrator Singapore (REIDS) initiative and partnerships with companies like 𝐒𝐞𝐦𝐛𝐜𝐨𝐫𝐩 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐞𝐬 showcase potential for growth. Collaborations with global firms are driving advancements in wind energy infrastructure.

𝐓𝐨 𝐥𝐞𝐚𝐫𝐧 𝐦𝐨𝐫𝐞, 𝐬𝐢𝐦𝐩𝐥𝐲 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 :https://www.maximizemarketresearch.com/request-sample/30127/

𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬

The US wind tower market is flourishing, driven by the Inflation Reduction Act (IRA) and ambitious renewable energy targets. Projects like the Empire Wind Project and the involvement of major players like GE Renewable Energy highlight the market's growth. The US is a leader in innovation, with increasing adoption of hybrid tower designs.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

Europe continues to lead the renewable energy transition, with countries like Germany, Denmark, and the UK at the forefront. Key projects like the Dogger Bank Wind Farm showcase the region's focus on offshore wind. Companies such as Siemens Gamesa and Nordex are driving innovation and sustainability in the wind tower market.

𝐊𝐞𝐲 𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐚𝐧𝐝 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧𝐬

Vietnam: Partnerships like Mainstream Renewable Power's collaboration with Phu Cuong Group are scaling up projects.
Thailand: Entry of GE Renewable Energy with localized manufacturing.
Japan: Sumitomo Corporation's acquisition of smaller wind projects boosts capacity.
China: Launch of advanced wind tower materials by Xinjiang Goldwind Science & Technology Co.
South Korea: Major investments by Samsung Heavy Industries into offshore solutions.
Singapore: Expansion of wind research facilities in collaboration with DNV GL.
US: Merger of NextEra Energy Resources with regional wind power firms.
Europe: Siemens Gamesa's acquisition of European wind technology companies.

𝐅𝐨𝐫 𝐚 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐨𝐯𝐞𝐫𝐯𝐢𝐞𝐰, 𝐜𝐥𝐢𝐜𝐤 𝐨𝐧 𝐭𝐡𝐞 𝐥𝐢𝐧𝐤 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝:https://www.maximizemarketresearch.com/market-report/global-wind-tower-market/30127/

𝐖𝐢𝐧𝐝 𝐓𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐛𝐲 𝐓𝐲𝐩𝐞

Tubular Steel
Concrete
Lattice
Hybrid
Guyed Pole Towers

𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Off-Shore
On-Shore

𝐖𝐢𝐧𝐝 𝐓𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

1. Suzlon Energy Limited
2. ENERCON GmbH
3. CS Wind Corporation
4. General Electric
5. Siemens AG
6. Trinity Structural Towers Inc.
7. Vestas Wind Systems A/S
8. Shanghai Taisheng Wind Power Equipment Co. Ltd.
9. WINDAR Renovables
10.KGW SchwerinerMaschinen-und Anlagenbau GmbH
11.Goldwind
12.Nordex Group
13.Broadwind
14.Ventower Industries LLC
15.Arcosa Inc.
16.Dongkuk S&C
17.ENERCON GmbH
18.Sinovel
19.Dongfang Electric Corporation
20.Clipper Windpower Plc.

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