Global Wind Turbine Tower Market Rises to $17.2 Billion in 2015 from $13 Billion in 2010
The global wind tower market increased from $13 billion in 2010 to $17.2 billion in 2015. This can be attributed to an addition of 67gigawatts (GW) of wind capacity in 2015, compared with 38.2 GW in 2010.
The total wind capacity addition in the 2020 is expected be 67 GW, similar to 2015. However, the tower market is expected to drop to $14.5 billion in 2020, mainly due to declining prices and increased tower heights to be used in larger turbines.
Tower prices are expected to fall by 7% in 2020. Globally, between 2010 and 2015, around 280 GW of wind power was installed in 160,000 towers, and further 313 GW are expected during 2016–2020 using 135,000 towers.
The following figure shows global additional wind capacity and the number of turbine towers required in 2010, 2015 and 2020.
China, US and Germany Leading Tower Market in 2015
In 2015, China was the global leader of the tower market with $7.6 billion or 44.5% of the global share. The US was $2.4 billion or 13.8% and Germany’s tower market value was $1.8 billion or 10.5%, followed by India, Brazil, Canada, the UK and France with 5.1%, 4.1%, 2.4%, 1.7% and 1.4% respectively.
GlobalData’s latest report “Wind Turbine Towers, Update 2016 – Global Market Size, Average Price, Competitive Landscape and Key Country Analysis to 2020” offer comprehensive information and understanding of the global wind turbine tower market.
The report offers in-depth analysis wind turbine tower market at global, regional (Asia-Pacific, Americas, Europe, and Middle East and Africa) and key countries (the US, Canada, Mexico, Brazil, Germany, the UK, France, India, China and South Africa) level.
The report analyzes the wind turbine installations, tower market value and average tower price for the historical (2010–2015) and forecast (2016–2020) period.