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It is reported that the global wind turbine tower market is worth $26,140.
5 million and is expected to continue to grow
at a compound annual growth rate of 7.
4% in 2016~2022.
The factors driving the growth of the global wind turbine market include government support for wind power projects, increasing installed wind power capacity across the globe, and demand
for geopolitical energy security.
The wind tower markets in the Middle East, Africa, and Latin America are still in their infancy
.
Currently, these regions have very few large wind farms
compared to the rest of the world.
However, some countries in Latin America and Africa are developing regulations to reduce dependence on petroleum fuels and increase the production of renewable energy, which will create a lot of opportunities
for wind tower manufacturers.
The Middle East and Africa wind tower market is expected to witness the fastest growth (CAGR) between 2016~2022, reaching a market value
of $1,342.
9 million in 2022.
The offshore wind tower market is expected to grow at a CAGR of up to 17
%.
The growth of this market is mainly driven by the increase in offshore wind installed capacity and the number of offshore wind projects in the
North Sea, Baltic Sea, and Atlantic Ocean.
Europe has a major share
of the global offshore wind tower market.
Asia-Pacific accounted for the largest share
of the global wind turbine tower market in 2015.
The growth of the wind turbine tower market in this region is mainly due to the high energy demand and high-growth wind power industry
in the region.
Among them, China has played a leading role in the Asia-Pacific region and even the global wind tower market, with the total installed capacity of wind power increasing from 75.
3GW in 2012 to 114.
6GW in 2014, and has increased to about 145.
1GW by the end of 2015 (GWEC data).
It is reported that the global wind turbine tower market is worth $26,140.
5 million and is expected to continue to grow
at a compound annual growth rate of 7.
4% in 2016~2022.
The factors driving the growth of the global wind turbine market include government support for wind power projects, increasing installed wind power capacity across the globe, and demand
for geopolitical energy security.
The wind tower markets in the Middle East, Africa, and Latin America are still in their infancy
.
Currently, these regions have very few large wind farms
compared to the rest of the world.
However, some countries in Latin America and Africa are developing regulations to reduce dependence on petroleum fuels and increase the production of renewable energy, which will create a lot of opportunities
for wind tower manufacturers.
The Middle East and Africa wind tower market is expected to witness the fastest growth (CAGR) between 2016~2022, reaching a market value
of $1,342.
9 million in 2022.
The offshore wind tower market is expected to grow at a CAGR of up to 17
%.
The growth of this market is mainly driven by the increase in offshore wind installed capacity and the number of offshore wind projects in the
North Sea, Baltic Sea, and Atlantic Ocean.
Europe has a major share
of the global offshore wind tower market.
Asia-Pacific accounted for the largest share
of the global wind turbine tower market in 2015.
The growth of the wind turbine tower market in this region is mainly due to the high energy demand and high-growth wind power industry
in the region.
Among them, China has played a leading role in the Asia-Pacific region and even the global wind tower market, with the total installed capacity of wind power increasing from 75.
3GW in 2012 to 114.
6GW in 2014, and has increased to about 145.
1GW by the end of 2015 (GWEC data).
