Market Size (2016)
2016
$13.00B
Energy & Power
Steel Wind Tower Market
By Segment, By Region, And Segment Forecasts, 2016 – 2023
Vertical: EnPBase Year: 201710 Sections
Executive Summary
Steel Wind Tower Market — Snapshot
Projected (2023)
2023
$19.90B
CAGR (2016–2023)
6.3%
6.3%Key Players
112+
The wind tower is an important component of the wind turbine. Steel wind towers are made in sections and are assembled on site. Such towers allow maintenance and repair. Taller towers are continuously becoming popular because of wind profiles become stronger with height.
The steel wind tower market is mainly driven by various factors such as rising investment in wind energy, increase in power consumption, and government initiatives and policies. Fluctuating prices of steel, and availability of other alternatives are a few restraints of the steel wind tower market that hinder its growth.
The global steel wind tower market is expected to grow at 6.44% CAGR during the forecast period. In 2017, the market was led by Asia-Pacific, with a 42.88% share, followed by Europe and North America with shares of 34.06% and 17.95%, respectively.
The steel wind tower market has been segmented based on height range, application, and region. On the basis of height range, the market has been segmented as Up to 40 meters, 40 meters – 80 meters, 80 meters – 140 meters, and Above 140 meters. 40 meters – 80 meters segment accounted for the largest market share of 41.76% in 2017, with a market value of USD 5,746.8 million and is projected to grow at the highest CAGR of 6.57% during the forecast period. On the basis of application, onshore segment accounted for the largest market share of 90.88% in 2017, with a market value of USD 12,506.5 million and is projected to grow at a CAGR of 6.43% during the forecast period.
Market Size
· 2017: USD 13,761.5 Million
· 2023: USD 19,899.9 Million
CAGR
· 6.44%
Key Geographies
· Asia Pacific: 42.88%
· Europe: 34.06%
· North America: 17.95%
· Rest of the World: 5.11%
Leading Countries
· China
· US
· Germany
· India
· UK
Key Market Drivers
· Rising investment in wind energy
· Increase in power consumption
· Government initiatives and policies
Key Market Restraint
· Fluctuating prices of steel
· Availability of other alternatives
Key Vendors
· Sika AG
· General Electric
· Siemens Gamesa Renewable Energy, S.A.
· Suzlon Energy Limited
· Senvion S.A.
Key Insight
The Steel Wind Tower Market market is projected to grow at a CAGR of 6.3% from 2016 to 2023.
Market Performance Trend
Historical performance and future projections (2020–2030, USD Billion)
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansMarket Scope & Coverage
What this report covers
- Geographic Coverage: This analysis covers 4 regions: Asia Pacific, Europe, Rest of the World, North America.
- Market Segmentation: The market is analyzed across 2 segments: Onshore, Offshore. Forecasts are provided for each segment from 2016 to 2023.
- Competitive Landscape: 112 leading companies are profiled, covering market positioning, strategies, and recent developments.
Market Size (USD Mn)
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansMarket Overview
Steel Wind Tower Market — Growth Trajectory
A wind tower is one of the integral parts of a wind turbine that costs around 25% to 30% of the total cost of wind turbine. Wind tower is mainly designed for various applications. It carries the nacelle and the rotor. The tower has electrical conduits that support the nacelle and offer access to it for maintenance and repairs. Different types of wind towers are used for the efficient generation of wind power. Steel towers, concrete towers, lattice towers and hybrid towers are normally used for wind turbines. Tubular steel towers are usually used tower type in modern turbines. They are usually conical in shape and the diameter varies by 4.5 to 5 meters at the base.
Steel Wind Tower Market — Growth Trajectory
Onshore
Offshore
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansMarket Size Trend (USD Mn)
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansMarket Dimensions
How this market is segmented
- Height Range Height Range is broken down into: Up to 40 meters, 40 meters – 80 meters, 80 meters – 140 meters, Above 140 meters.
- Application Application is broken down into: Onshore, Offshore.
Geographic Analysis
Regional market breakdown
- Asia Pacific Asia Pacific market size reached $5.57B in 2016 and is projected to reach $8.57B by 2023, growing at a CAGR of 6.4%.
- Europe Europe market size reached $4.43B in 2016 and is projected to reach $6.79B by 2023, growing at a CAGR of 6.3%.
- Rest of the World Rest of the World market size reached $666.35M in 2016 and is projected to reach $998.95M by 2023, growing at a CAGR of 6.0%.
- North America North America market size reached $2.34B in 2016 and is projected to reach $3.54B by 2023, growing at a CAGR of 6.1%.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansResearch Methodology
Steel Wind Tower Market — How We Researched This Market
This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2017
Historical Period
2016 – 2017
Forecast Period
2017 – 2023
Primary Interviews
150+
Research Process
Historical data (2016–2017) and forecast period (2017–2023)
1
Problem Definition
- Market scoping
- Objective setting
- Framework design
2
Secondary Research
- Literature review
- Data mining
- Trend analysis
3
Primary Research
- Expert interviews
- Field visits
- Surveys
4
Data Analysis
- Quantitative modeling
- Statistical testing
- Validation
5
Insights & Reporting
- Synthesis
- Recommendations
- Visualization
Research Depth
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Historical vs. Forecast Data
Historical (observed)
Forecast (modelled)
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansQuantitative Analysis
Regional Breakdown
Regional market breakdown for Steel Wind Tower Market.
Regional Market Size (USD Mn)
Market estimates by geography (2023)
USD Mn
InsightAsia Pacific leads with $8.57B by 2023.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansRegional Market Data
| REGION | 2016 | 2017 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $5.57B | $7.05B | $8.57B | 6.4% | 43% |
| Europe | $4.43B | $5.59B | $6.79B | 6.3% | 34% |
| Rest of the World | $666.35M | $831.01M | $998.95M | 6.0% | 5% |
| North America | $2.34B | $2.93B | $3.54B | 6.1% | 18% |
| Total | $13.00B | $16.41B | $19.90B | 6.3% | 100% |
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansSegment Revenue (2023)
Onshore
Offshore
0495098991484919798
Segment Market Share
- Onshore90%
- Offshore10%
Total Market Size
$19.90B
Market by Segment (2023)
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Onshore | $18.00B | 6.3% | 72% |
| Offshore | $1.90B | 6.3% | 89% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
Subscribe to Wantstats
Unlock premium reports, insights, blogs, charts and more.
View Subscription PlansEmpower your Business
with InsightsSave over 20% on
with Insights
Save over 20% on
Annual Subscription
See plans for professionals or small and medium businesses.
Analytics
Steel Wind Tower Market — Key Findings
Analytical insights on Steel Wind Tower Market covering market dynamics, competitive landscape, and strategic outlook.
Key Analytical Findings
The Steel Wind Tower Market market is projected to reach $19.90B by 2023, growing at 6.3% CAGR. The Onshore segment holds the largest share.
Market Dynamics
The Global Steel Wind Tower Market is a very dynamic market and is expected to witness phenomenal growth over the forecast period. The growth of the steel wind tower Market is driven by various factors such as rising investment in wind energy, increase in power consumption, and growing adoption of small wind power system. However, the growth of the market can be hindered by fluctuating prices of steel and availability of other alternatives.
Market Drivers
Increase in the number of environmental protection regulations across the globe, forces the power generation industry to shift to cleaner and environment-friendly energy resources. Major global economies have high focus on developing the renewable power generation to reduce their dependency on conventional power generation through fossil fuels. In the past few years, the renewables investment record shows that the focus on reducing global dependence on coal and other fossil fuels, is well in progress, largely due to the investments in wind, solar and other renewables.
Wind energy is a major renewable energy source with the potential to meet the challenges faced such as shortage of electricity supply. In 2013, USD 86 billion was invested globally in wind power sector which was increased to USD 107.2 billion in 2017. Wind power rose to 539 GW in 2017, as the world installed 52 GW of new wind power projects. In the European Union, wind energy had the maximum capacity installations in 2017. With 15.6 GW of installation, it accounted for 55.2% of all new installations. Hence, such tremendous investment and yearly addition in capacity of wind power certainly boost the steel wind tower market, globally.
Market Opportunities
Over the past few years, the global investment on renewable forms of energy has been increasing globally due to the favorable regulations and policy of governments in different countries such as China, the US, India, Germany, the UK, and Denmark. In many countries such as China, Japan, and EU countries, policies such as FIT (feed-in tariff), tax credits, net metering, and capital subsidies are the major energy policies geared specifically towards wind.
For instance,
· Government of Denmark is set to introduce FIT for small wind turbines. The planned remuneration is 0.33 euros per Kilowatthour (kWh) for units of up to 10 Kilowatt (kW) and 0.20 euros/kWh for up to 25 kW.
· In the US, the Federal Business Energy Investment Tax Credit (ITC), a corporate tax incentive that allows owners of new wind energy systems of any size to receive tax credits worth 30% of the value of the facility.
· The government in Poland has adopted a new renewable energy law, which will allow FiT for small wind turbines. Up to 3 kW the FIT rate will be 0.17 euros per kWh, up to 10 kW, the FIT rate will be 0.15 euros/kWh.
· Among the regions, Europe has a strong commitment for the reduction of carbon emissions to the Paris Agreement. According to the Europe Renewable Energy Directive, the government of Europe has set a target to have a 35% share of renewable energy, across the globe, by 2030. In addition, after the introduction of the Chinese Renewable Energy Law in 2005, China emerged as the global market leader in terms of total installed capacity. Such support from various governments is expected to encourage the utilization of wind power and be an opportunity for the steel wind tower market.
Market Restraints
Steel is a major raw material used for manufacturing wind towers. The availability of such material depends on the global and local demand and supply force, along with government regulations. The cost of steel depends on the terms and duration of the contract with the steel manufacturers, which is typically for one year or multi-year. As cost of steel is very unstable, due to which the final product cost can increase or decrease. For example, an increase in the cost of the raw material is going to increase the manufacturing cost, thus, increasing the cost of the final product. Furthermore, the financial performance of the company can adversely be affected due to this fluctuation. Such factors may hamper the growth of the market.
Strategic Outlook and Future Directions
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Market Value by Segment (2023)
Value (USD Mn)
Onshore
Offshore
Companies
Key companies profiled in Steel Wind Tower Market
Profiles of 112 companies operating in the Steel Wind Tower Market market, including revenue, employee count, and market positioning where available.
Showing 112 of 112 companies
Windar Ren
Windar Renovables
Energy & Power
Company Headquarters: Asturias (Spain) Founded: 1950 Company Working: Windar Renovables, a company of Grupo Daniel Alonso one the leading manufacturers of wind tower. It has more than 60 years of experience in the manufacturing of tubular steel structures, design and manufacturing of pressure equipment and large metal structures, steel comprehensive and large metal design and development of environmental equipment and others. It offers a wide range of industrial products and services that are developed to meet customer requirements. The company started manufacturing onshore wind towers in 2007 and has an experience of over a decade. It expanded its business into offshore wind towers manufacturing. WINDAR has manufactured wind towers for major players within wind farms located in Germany, the UK and the US. It also manufactures products for off-shore market, such as monopilots, and jackets as a part of its business development. WINDAR has production plants in regions including Europe and Asia
RevenueN/A
EmployeesN/A
Market CapN/A
Founded1949
Asturias (Spain)
Goldwind
Goldwind
Energy & Power
Company Headquarters: Xinjiang, China Founded: 1998 Company Working: Goldwind is one of China’s earliest manufacturers in the wind power industry. Its core and technical team has more than 20 years of experience in wind power industry. The four major business segments include WTG (wind turbine generator) manufacturing, wind power services, and wind farm investment and development. Goldwind is also engaged in research and development, manufacturing, and sale of wind power components, construction, development and operation of wind farms and related maintenance services. It also manufactures and sells wind power equipment and accessories and development and operation of water treatment plants and solar power generation projects. The company offers innovative energy solutions with over 41 GW of installed wind power capacity worldwide and more than 21,000 wind turbine units running in 17 countries and 6 continents. It offers customized energy solutions to meet different requirements and profiles. The group has 266 subsidiaries, which include 26 directly owned subsidiaries and 240 indirectly owned subsidiaries. These subsidiaries include R&D and manufacturing companies for WTG components, wind farm investment and development companies, wind power service companies, water treatment units, and finance lease companies
Revenue$3.7B
EmployeesN/A
Market CapN/A
Founded1997
Xinjiang, China
CSWIND COR
CSWIND CORPORATION
Energy & Power
Company Headquarters: South Korea Founded: 2006 Company Working: CSWIND CORPORATION is one of the largest wind tower manufacturers in the world. The company started with onshore wind towers and later diversified its business to offshore wind towers and plant industry. CSWind also offers transition parts for offshore wind towers, tower internal parts, and components which include cables, platforms, ladders, brackets, and others. It also offers plant equipment, including rectifiers/after washers, FLSH hoppers, cold separators, propylene fractionators, H2S removal columns, strippers, and others. The onshore wind turbine is a major product of CS Wind, a structure that supports wind turbine and generator blades, that are made with strict quality management and precise manufacturing to make it more durable. Offshore wind tower are made with high level of quality in fabrication to with stand from powerful sea wind. CSWind has several production bases in Vietnam, China, Canada, and the UK. The subsidiaries of the company are CS WIND Vietnam Co., Ltd., CS WIND China Co., Ltd., CS WIND Canada Inc., CS WIND UK Limited, CS Wind Malaysia Sdn Bhd, and CS Wind Turkey
RevenueN/A
EmployeesN/A
Market CapN/A
Founded2005
South Korea
Aeolos Win
Aeolos Wind Energy Ltd
Energy & Power
Company Headquarters: Denmark Founded: 1986 Company Working: Aeolos Wind Energy Ltd is one of the manufacturers of small wind turbines and towers. It offers various products which include horizontal axis wind turbines, vertical axis wind turbines, wind turbine towers, and wind turbine kits. The company holds seven patents on wind generators, control systems, blade design, and inverters. At present, its products include horizontal axis wind turbines from 500 W to 60 KW and vertical axis wind turbines from 300 W to 10 KW. The products are widely applied for home, farm, village, school, and small wind farms. Aeolos wind turbines are working in more than 60 countries and regions
RevenueN/A
EmployeesN/A
Market CapN/A
Founded1985
Denmark
Ib Andrese
Ib Andresen Industri
Energy & Power
Company Headquarters: Denmark Founded: 1996 Workforce: ~500 Company Working: Ib Andresen Industri operates in wind, solar, transport, building, and steel industries. It specializes in the development and production of bolted steel shell towers for wind turbines. It has improved the bended and bolted tower concept and is now ready with next generation wind turbine towers. Its steel towers are available in various heights above 115 m for on-shore wind turbines. The company offers steel solutions for internals, and tower constructions to the wind industry, nacelle components, and mounting solutions for PV and CSP-systems of the solar industry, and steel solutions for the industrial market. The company also offers supplier services, customized solutions, service center, and steel designing solutions. It has supplied various solutions to big wind turbine manufacturers. The company has production facilities in Nyborg and Langeskov. It offers safe, efficient, intelligent and affordable solutions for wind turbines, oil and gas equipment, and machines. Ib Andresen Industri A/S operates as subsidiary of IAI Holding A/S.
Revenue$0.2B
Employees500
Market CapN/A
Founded1995
Denmark
Sika AG
Sika AG
Energy & Power
Company Headquarters: Switzerland Founded: 1910 Workforce: ~18500 Company Working: Sika AG is primarily engaged in the production and sale of wind energy tools and components, corrosion and fire protection coatings, gypsum, and dry mortar additives. It is primarily known for its design, research and development, and manufacturing activities of the bonding, sealing, damping, reinforcing, and protecting concrete and steel. Its products are used for various wind turbine applications such as mould manufacturing, nacelles and machine parts, blade manufacturing, steel tower, concrete tower, base foundation, and offshore wind. It offers wind energy products and solutions such as gelcoats, laminating systems, industrial coatings, adhesives and sealants, composite resin systems, vacuum casting and silicone resins, rim systems, auxiliary materials, and dry mortar additives. It has 200 manufacturing facilities in 101 countries, such as India, Canada, US, and Germany. Sika AG controls around 35 domestic subsidiaries, which include Axson Technologies SA, Inatec S.R.L., Valspar Flooring, Sika Italia S.p.A., Texsa India Ltd., and Schonox GmbH. It has offices located across India, China, Germany, Portugal, Italy, France. A few of its competitors are Huntsman, Carlisle, and PPG Industries.
Revenue$8.9B
Employees18,500
Market CapN/A
Founded1909
Switzerland
Page 1 of 19
…
Go to page
Powering the world's best teams.
From next-gen startups to established enterprises.
What our clients say
Trusted by forward-thinking businesses
for data-driven intelligence
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Steel Wind Tower Market
Starting from
$4,950