Wind Tower Market Size, Share, and Growth Analysis, By Type (Steel Tower, Concrete Tower), By Installation (Onshore, Offshore), By Application, By Region - Industry Forecast 2025-2032
Global Wind Tower Market size was valued at USD 32.43 billion in 2023 and is poised to grow from USD 35.12 billion in 2024 to USD 66.47 billion by 2032, growing at a CAGR of 8.3% during the forecast period (2025-2032).
As of October 2023, the wind tower market is characterized by structures that support wind turbines, with design considerations heavily influenced by turbine energy output and blade size. Optimally heighted towers are crucial to prevent blade collisions with ground obstacles. Cost dynamics are driven by nacelle and turbine weight, with material choices directly impacting strength and stability. Furthermore, application-specific requirements differentiate onshore towers from their offshore counterparts, reflecting varied environmental challenges. As the demand for renewable energy solutions increases, understanding these dimensions becomes essential for stakeholders and manufacturers in the wind energy sector, ensuring that designs align with operational efficiency and safety standards while balancing cost-effectiveness.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Wind Tower market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Wind Tower Market Segments Analysis
Global Wind Tower Market is segmented by Type, Installation, Application and region. Based on Type, the market is segmented into Steel Tower, Concrete Tower and Hybrid Tower. Based on Installation, the market is segmented into Onshore and Offshore. Based on Application, the market is segmented into Utility and Non-Utility. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Wind Tower Market
The Global Wind Tower market is primarily driven by stricter environmental regulations that require the power generation sector to transition toward cleaner, more sustainable energy sources. Major economies worldwide are increasingly prioritizing the development of renewable energy to reduce their dependence on fossil fuels. Wind energy stands out as a pivotal renewable resource, capable of addressing numerous global challenges. In 2019, wind power installations reached 651 GW, with 60.4 GW of new projects added that year. The Asia Pacific region was particularly impactful, contributing 50.7% of these new installations with 30.6 GW, resulting in a significant boost to the global wind power capacity.
Restraints in the Global Wind Tower Market
The Global Wind Tower market faces significant challenges due to the volatility of steel prices, which is a fundamental raw material in the manufacturing of wind turbines. As steel is the most traded metal globally, any fluctuations in its price can adversely impact various industries, including the wind sector. The manufacturing of wind turbines relies heavily on steel sheets, and when steel prices rise or fall unpredictably, it influences production costs. Consequently, these variations in raw material pricing can hinder the overall growth and competitiveness of the wind tower market on a global scale.
Market Trends of the Global Wind Tower Market
The Global Wind Tower market is witnessing robust growth driven by escalating electricity demand fueled by global population growth, industrial expansion, and infrastructure development. As countries advance and living standards rise, the urgency for enhanced power generation capacity becomes paramount, leading to the construction of new plants or the expansion of existing ones. In response to stringent government regulations on greenhouse gas emissions, there is a marked shift towards renewable energy sources, with wind power gaining significant traction. This trend is underscored by increased investments in wind energy infrastructure, positioning the global wind tower sector as a pivotal player in the renewable energy landscape.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Drivers & Opportunities
Restraints & Challenges
Porters Analysis
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2024
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Case Studies
Regulatory Landscape
Patent Analysis
Global Wind Tower Market Size by Type & CAGR (2025-2032)
Market Overview
Steel Tower
Concrete Tower
Hybrid Tower
Global Wind Tower Market Size by Installation & CAGR (2025-2032)
Market Overview
Onshore
Offshore
Global Wind Tower Market Size by Application & CAGR (2025-2032)
Market Overview
Utility
Non-Utility
Global Wind Tower Market Size & CAGR (2025-2032)
North America (Type, Installation, Application)
US
Canada
Europe (Type, Installation, Application)
Germany
Spain
France
UK
Italy
Rest of Europe
Asia Pacific (Type, Installation, Application)
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America (Type, Installation, Application)
Brazil
Rest of Latin America
Middle East & Africa (Type, Installation, Application)
GCC Countries
South Africa
Rest of Middle East & Africa
Competitive Intelligence
Top 5 Player Comparison
Market Positioning of Key Players, 2024
Strategies Adopted by Key Market Players
Recent Developments in the Market
Company Market Share Analysis, 2024
Company Profiles of All Key Players
Company Details
Product Portfolio Analysis
Company's Segmental Share Analysis
Revenue Y-O-Y Comparison (2022-2024)
Key Company Profiles
Siemens Gamesa Renewable Energy (Spain)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
GE Renewable Energy (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Nordex SE (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Suzlon Energy Limited (India)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Goldwind (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Enercon GmbH (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Senvion S.A. (Germany)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Mingyang Smart Energy (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Envision Energy (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Acciona Energias Renovables (Spain)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
CS Wind Corporation (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Marmen Inc. (Canada)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Arcosa Wind Towers, Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Titan Wind Energy (China)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Broadwind Inc. (USA)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
Dongkuk S&C (South Korea)
Company Overview
Business Segment Overview
Financial Updates
Key Developments
KGW Schweriner Maschinen- und Anlagenbau GmbH (Germany)