Concrete Wind Tower Market: Introduction
· Wind towers are tall structures with wind turbines mounted on upper end. They can be multidirectional, unidirectional, and bidirectional.
· Height of a wind tower depends on its energy generation capacity. Towers with higher altitude are preferred, as wind is stronger at higher altitudes.
· Various types of wind towers are available in the market such as steel, concrete, and hybrid. Wind towers can be installed on ground as well as offshore. Concrete towers are widely used in wind projects due to their better performance and greater life span compared to steel towers.
· Concrete wind towers are cost effective and have less number of joints than steel towers. Moreover, they require less maintenance cost and can accommodate heavy turbines due to its strong tower base. Concrete wind towers are preferred for offshore installation due to their corrosion-resistant property.
· Steel towers of large diameters are difficult to transport, while concrete tower with large diameters can be built on the site
Rise in Demand for Sustainable Energy
· Rise in demand for clean and reliable source of energy, increase in rates of conventional electricity due to volatile prices of raw materials, decline in fossil fuels, and awareness about renewable energy generation offer lucrative opportunities for wind tower manufacturers
· Stringent environmental regulations regarding the emission of carbon dioxide is also fueling the demand for wind energy. In developed regions, such as North America and Europe, emissions from energy generation have increased considerably in the past few years.
· Rise in the number of technological research and development programs related to sustainable energy development, especially in developed countries, is anticipated to propel the concrete wind tower market during the forecast period
· Governments of developing countries as well as developed countries are promoting unconventional sources of energy, such as wind energy. Initiatives by governments to support wind energy generation are positively impacting the concrete wind tower market
· Growing prices of steel is affecting the demand for steel wind towers. The demand for concrete wind towers in increasing due to its low prices compared to steel wind towers. However, high logistics cost and project installation are key factors restricting the growth of the concrete wind tower market.
Onshore Segment to Offer Lucrative Opportunities
· In terms of application, the global concrete wind tower market can be segmented into onshore and offshore. The onshore segment is anticipated to hold the considerable share of the market.
· Offshore wind towers are difficult to build, and require higher installation and maintenance cost as compared to onshore wind towers. Easy installation and long life of onshore wind tower are expected to drive the global concrete wind tower market.
· Onshore wind towers allow more energy saving and less voltage drop through cabling due to less distance between consumer and windmill
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Europe to Hold Significant Share of Global Concrete Wind Tower Market
· In terms of region, the global concrete wind tower market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
· Europe is estimated to account for a prominent share of the global concrete wind tower market in the near future, owing to the rise in environmental concerns, such as pollution, in the region. The energy industry in the U.K. contributes significantly to the concrete wind tower market in Europe.
· The concrete wind tower market in North American is projected to grow, owing to increase in investments in the wind energy sector. The U.S. Government is undertaking various initiatives to increase energy production through unconventional sources to reduce carbon emission and maintain environmental balance.
Key Players in Global Concrete Wind Tower Market
The global concrete wind tower market is moderately concentrated with top manufacturers accounting for major share. Prominent players operating in the global concrete wind tower market are entering into partnerships to supply and market their products across the globe.
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