Steel Wind Tower Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.

The steel wind tower market is growing continually, mainly due to the increased focus on sustainable energy resources led by the concerns over extensive reliance on fossil fuel. The pressure to switch to options that are environmentally viable and ensure long-term sustainability is increasing day by day. Stricter regulations are being enforced to curb Co2 emission, emphasizing on various clean energy technologies, including wind turbines.

Acknowledging the kind of expansion, the market is witnessing at present, Market Research Future (MRFR) in its recently published analysis asserts that the global steel wind tower market would reach a valuation over USD 19,800 MN by 2023, registering a CAGR of 6.44% throughout the forecast period (2018-2023)

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Global Steel Wind Tower Market: Segmental Analysis

The study includes a detailed segmental analysis of the market based on application, height range and region. By application, the market has been segmented into onshore wind power and offshore wind power. The former is likely to outperform the later throughout the assessment period. The onshore wind power segment currently commands more that two-third share of the market in terms of revenue and is projected to post a an above-average CAGR till 2023. By height range, the market has been segmented into above 140 meters, 80 meters – 140 meters, 40 meters – 80 meters, and up to 40 meters. Of these, the 40 meters – 80 meters segment holds the dominant share of the market and trend is likely to continue in 2019 and beyond. During the forecast period, the segment is expected to capture 6.57% CAGR between 2018 and 2023. Cost-benefits and easy maintenance of wind towers ranging between 40 meters and 80 meters is driving their adoption.

Global Steel Wind Tower Market: Regional Outlook

Regions covered in the study include Asia Pacific (APAC), North America, the Middle East & Africa (MEA), Europe and Latin America. Asia Pacific (APAC) dominated the global steel wind tower market. In terms of value, the region accounted for more that 40% market share in 2017. These has been a substantial growth in consumption of renewable energy in the region. China, Australia and India are among the major contributors to the growth of the steel wind tower market in APAC. In terms of growth, China standout from rest of the APAC countries. It has the biggest offshore wind capacity in the APAC. The country will remain a hotspot for steel wind tower over the couple of years. Meanwhile, Europe and North America are likely to retain the second and third spot in the global steel wind tower market over 2023.

Global Steel Wind Tower Market: Competitive Landscape

MRFR’s study also includes a competitive analysis, which covers some of the top-notch companies such as Suzlon Energy Limited, Senvion S.A., Broadwind Energy, Inc., Morrison Berkshire, Inc., Zhejiang Guoxing Wind Power Technology Co., Ltd., Aeolos Wind Energy Ltd., Goldwind, Valmont Industries, Inc., Vestas Wind Systems A/S, Ib Andresen Industri, Siemens Gamesa Renewable Energy, S.A., CSWIND CORPORATION, ENERCON GmbH, Trinity Structural Towers, Inc., Windar Renovables, and Qingdao Wuxiao Group Co., Ltd.

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