Pune, India -- (SBWIRE) -- 12/06/2019 -- Market Research Future (MRFR), in its latest "Steel Wind Tower Market" report, reveals that the global market of steel wind tower is expected to expand at a CAGR of 6.44% through the forecast period of 2018-2023. The growing need for the installation of wind turbines across the globe is expected to boost the expansion of the steel wind tower market. Alongside, the presence of other influential forces that are expected to generate lucrative scope for investment, which are expected to increase the size of the global steel wind tower market by the end of the review period.

Broadwind Energy, Inc., Suzlon Energy Limited, Senvion S.A., Zhejiang Guoxing Wind Power Technology Co., Ltd., Morrison Berkshire, Inc., Windar Renovables, Goldwind, Valmont Industries, Inc., Aeolos Wind Energy Ltd., Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy, S.A., Ib Andresen Industri, CSWIND CORPORATION, Trinity Structural Towers, Inc., ENERCON GmbH, and Qingdao Wuxiao Group Co., Ltd.

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Market Synopsis

Steel wind towers are gaining popularity due to the growing inclination of people towards developing cost-effective and easy to maintain wind towers. These factors are observed to create numerous potential investment opportunities that can generate substantial revenue for the steel wind tower market. Recently, as issue regarding power availability increases, the depletion of fossil fuel being a major concern is increasing the adoption of steel wind towers. This is likely to propel the growth of the worldwide steel wind tower market. The demand for tubular steel towers is higher over other conventional structures of steel wind towers. In case of tubular steel wind tower, the strength to weight ratio is high that contributes to the saving of steel. The improved compressive strength of tubular steel wind towers is due to the high torsional rigidity, which makes them highly desirable in the energy and power industry. These causes are anticipated to boost the global steel wind tower market.

Segmental Outline

The worldwide market of steel wind towers is studied by height range and application. By application, the market is sectioned into offshore wind power and onshore wind power. The onshore wind power segment is expected to generate considerable traction for the worldwide steel wind tower market in the assessment period. This is due to feasibility of onshore wind tower planting. By height range, the market is segmented into 40 meters – 80 meters, 80 meters – 140 meters, above 140 meters, and up to 40 meters. The 40 meters – 80 meters segment is expected to thrive at a 6.57% CAGR across the forecast period of 2018 and 2023. Benefits of steel wind tower that ranges between 40 meters and 80 meters, such as ease of maintenance and cost-effectiveness are surging their adoption, which is expected to drive the growth of the market in the review period.

Regional Outlook

In Asia Pacific, the steel wind tower market is expected to experience exponential growth through the assessment period. The fast-paced expansion of the energy and power industry and the increase in need for sustainable solutions for fossil fuel-driven energy requirements are expected to improve the growth of the APAC steel wind tower market in the near future. APAC is also known to hold the largest capacity for offshore steel wind tower installation, which is identified as a strong growth inducer for the steel wind tower market. The steel wind tower market in the North America is expected to secure the second position in the global market in the assessment period. The growing popularity of tubular steel wind tower is expected to push the regional market in the years of assessment.

Research Methodology

Market Research Future (MRFR) employs a robust statistical solution for comprehensive and iterative assessment of critical market indicators. Utilization of multi-layered research module and advanced data triangulation technique aids in conducting extensive qualitative and quantitative analysis of governing factors and macroeconomic indicators of market, which include key market dynamics, historical trends, consumer landscape, challenges, and growth opportunities. Primary research process is utilized to garner data by conducting surveys and one-on-one interviews with key opinion holders across the value chain, which is then verified using secondary research processes with reference to industry documentations such as paid databases, whitepapers, SEC filings, annual company reports, and others. In addition, the top-down and bottom-up approaches ensure the accuracy and objectivity of research findings.

Scope of Report

The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report

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Table of Contents

1 Executive Summary

2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 Market Structure
2.4 List of Assumptions

3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model

Continued..........

List of Tables

Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Global Steel Wind Tower Market, by Height Range, 2016-2023 (Usd Million)
Table 4 Global Steel Wind Tower Market, by Application, 2016-2023 (Usd Million)
Table 5 Global Steel Wind Tower Market, by Country, 2016-2023 (Usd Million)
Table 6 North America Wind Installation Capacity, 2017 (Mw)
Table 7 North America: Global Steel Wind Tower Market, by Country, 2016-2023 (Usd Million)

Continued..........

List of Figures

Figure 1 Global Steel Wind Tower Market: Market Structure
Figure 2 Research Process of Mrfr
Figure 3 Top Down & Bottom Up Approach
Figure 4 Drivers, Restraints, and Opportunity of Global Steel Wind Tower Market
Figure 5 Wind Power Annual Capacity Addition, 2012-2017 (Gw)
Figure 6 Drivers Impact Analysis
Figure 7 Global Historic and Forecast Steel Prices, 2010-2019 (Usd/tonne)
Figure 8 Restraints Impact Analysis

Continued......

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