Wind towers mostly find its use in hot and dry climate. It is mostly used for the purpose of generating cooling effect. A pre-requisite for the utilization of wind tower is that the site of installation of wind tower must have considerably consistent and good velocity of wind. A wind tower functions in a wide variety of ways. In addition, it also operates in the presence and absence of wind and according to time of the day.
The main principle that lies behind its operation is the changing temperature and as such, air density in and around the tower is also important for its operation. The difference in air density produces a draft, pulls air with downwards or upwards and through the tower.
Wind tower is created in multiple designs, which are mentioned below
The wind is regarded as one of the cleanest source for production of power and is witnessing constant rise in demand. This factor is likely to boost the global wind tower market in years to come. Wind turbines leverage wind power for the generation of electricity. The energy that is found in the wind is capable of turning blades around a rotor, which is attached to the main shaft spinning around a generator for production of electricity. A wind tower works as a support structure for wind turbine and other components of the turbine.
The expansion of the global wind tower market is driven by upgradation of the wind power production segment together with government policies that offer conducive environment for wind power generation. In addition, the ongoing projects also add momentum to the global wind tower market over the assessment period. Various governments’ initiatives promote use and awareness about the benefits of using wind power energy, which is likely to act as a stimulant for the global wind tower market.
Wind Tower Market: Overview
The height at which a wind turbine is located is arguably the most important determinant of its performance and efficiency. This is where a wind tower acts as a crucial component. A wind tower is a tall structure, at the upper end of which the nacelle and the wind turbine are mounted. The length of the wind tower depends largely on the energy generation capacity of the turbine and the size of its blades. A wind tower with large blades that’s not high enough could cause the blades to come in contact with structures on the ground. Thus, to keep the long blades of the wind turbine clear of the ground and other objects, it is imperative to choose a wind tower with an optimal height.
While it is evident that the sturdiness of a wind tower is crucial, it is important for these components to also be low on maintenance and be able to endure continued exposure to the environment. The height of the wind tower has an impact on power generation – the higher the tower the greater wind speeds it exposes the turbine to. Moreover, taller wind towers also take the wind turbine beyond the turbulence zone.
Investments in wind towers are determined based on how heavy the nacelle and turbine are. The strength and stability of a wind tower, in turn, is directly influenced by the material it is made of, its gauge, and weight. The application is what primarily influences the design of a wind tower. Thus, wind towers for onshore applications are decidedly different from towers meant for offshore use.
Wind Tower Market: Trends and Drivers
While onshore wind farms have now become common in nearly every major country in the world, the boom in the offshore wind energy sector will be both a challenge and an opportunity for the global wind tower market. Offshore environments can be merciless and corrosive, making the right selection of materials and coatings for wind towers important. The installation technique used also becomes important in such a setting. However, there are also several benefits associated with offshore wind generation, which are helping fuel the demand for wind towers for offshore energy farms.
That renewable energy is the future is now a well-known fact. Wind and solar energy are expected to occupy a large share in the global energy mix, creating numerous opportunities for the growth of the wind tower market. However, the high maintenance and replacement costs of wind turbines could act as a restraint on the growth of the global wind tower market as well.
Backed with ample government support, the prospects of the global wind energy industry seem promising. And this factor will ensure the steady if not tremendous growth of the wind tower market.
Wind Tower Market: Segmentation
The types of towers that are available on the market include concrete, lattice, tubular steel, and hybrid towers. A wind tower could make up nearly 30% of the total cost of a wind turbine. Tubular steel towers are the standard in the industry currently but the use of hybrid towers is also rising with the development of lighter yet sturdier materials.
Likewise, by application type, the global wind tower market can be segmented into onshore and offshore. With land becoming a precious commodity, many wind farms are now moving offshore into the oceans. This will lead to a higher demand for offshore wind towers, enabling this segment to display a higher growth rate than the onshore wind towers segment.
The key companies operating in the global wind tower market include: Suzlon Energy Limited, ENERCON GmbH, CS Wind Corporation, GE, Siemens AG, and others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.