Global Wind Tower Market was valued US$ 11.86Bn in 2019 and is expected to reach US$ 29.68Bn by
2027, at a CAGR of around 10.73 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders,
followers, and disrupters. Since lock down was implemented differently in different regions and
countries, impact of same is also different by regions and segments. The report has covered the current
short term and long term impact on the market, same will help decision makers to prepare the outline
for short term and long term strategies for companies by region.
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Wind tower market is growing because of the increasing demand for clean and reliable energy to reduce
the global carbon emissions, and to maintain ecological balance by generating electricity through
renewable resources. Also, that renewable energy is the future is now a well-known fact. Wind and solar
energy are projected to occupy a large share in the global energy mix, reduced dependency on
conventional energy sources, and rise in government initiatives for energy production from renewable
sources creating various opportunities for the growth of the wind tower market. On the other hand,
high initial capital cost of projects with high maintenance cost and logistics issues may hamper the wind
According to application, global wind tower market can be segmented into onshore and offshore. With
land becoming a valuable commodity, many wind farms are now moving offshore into the oceans. This
will lead to a higher demand for offshore wind towers, permitting this segment to display a higher
growth rate than onshore wind towers segment.
The research offers a detailed analysis of key market players operating in the global wind tower market.
Latest developments are explored in the study along with various strategies of market players such as
partnerships, collaborations, agreements, mergers & acquisition