Global Wind Turbine Tower Market Grows at a Staggering CAGR of 5.4%

Introduction

The global wind turbine tower market encompasses the production and deployment of towers that support wind turbine systems for energy generation. These towers, constructed from steel, concrete, or hybrid materials, are essential components in both onshore and offshore wind farms, providing the height necessary for optimal wind capture and turbine stability. The market is expanding due to the global shift toward renewable energy, government incentives, and the rising installation of large-capacity wind turbines. Key trends include the development of taller tower designs, modular construction techniques, and regional manufacturing to minimize transportation costs. Industry players span fabrication, engineering, and renewable energy sectors worldwide.

The global wind turbine tower market is primarily driven by the growing demand for clean, renewable energy sources as countries work to reduce their carbon footprints and combat climate change. With increasing environmental awareness, governments are implementing supportive policies, such as tax incentives and renewable energy targets, to promote wind power generation. This surge in infrastructure spending on wind energy requires substantial investment in structures like turbine towers, which enable efficient wind utilization. Consequently, the demand for wind turbine towers has risen sharply, with a focus on designing scalable, effective, and affordable solutions to meet the growing demand for renewable energy.

Innovations in wind turbine design drive market growth

Technological advancements in wind turbine design, particularly the shift toward larger rotor diameters and taller towers, significantly enhance energy production and efficiency. Taller towers enable turbines to capture stronger and more consistent wind currents at higher altitudes, increasing electricity output and improving capacity factors.

• For example, in November 2024, researchers at the University of Virginia, in collaboration with the National Renewable Energy Laboratory, developed designs for 25 MW offshore wind turbines featuring segmented ultralight morphing rotors (SUMR). These innovations maximize energy production while minimizing rotor weight and associated costs.

Additionally, manufacturers are experimenting with modular tower segments, lightweight composite materials, and hybrid steel-concrete designs, further improving scalability and transport efficiency. These breakthroughs are crucial for expanding wind energy to new regions while meeting the growing demand for clean, efficient renewable energy.

Growing focus on offshore wind farms creates tremendous opportunities

The global shift toward offshore wind energy presents a significant opportunity for the wind turbine tower market. Offshore wind farms, typically located in deeper waters with stronger wind conditions, require taller, more durable, and corrosion-resistant towers. Regions like Europe, East Asia, and North America are leading the offshore wind expansion, with the EU aiming for 300 GW of offshore wind capacity by 2050.

• For instance, in December 2024, the Coastal Virginia Offshore Wind (CVOW) project, a 2.6 GW offshore wind farm, made progress with the fabrication of turbine towers. Windar Renovables completed this project's first 90 offshore towers, with shipments scheduled for summer 2025.

These developments drive demand for advanced tower solutions, including monopiles, floating foundations, and hybrid steel-concrete designs. As technology evolves and costs decrease, offshore wind will become a cornerstone of global clean energy strategies.

Regional Insights

Asia-Pacific leads the wind turbine tower market due to China’s dominance in wind power capacity, turbine manufacturing, and tower production. The Chinese government has aggressively promoted wind energy through long-term subsidies, favorable policies, and substantial infrastructure investment, making it the largest producer of onshore wind energy globally. India also plays a key role with ambitious renewable energy targets, including 140 GW of wind capacity by 2030. Major installations in regions like Tamil Nadu and Gujarat continue to drive tower demand. Additionally, emerging Southeast Asian markets are exploring wind energy solutions, further positioning the region as a vital growth area for the future.

Key Highlights

• The global wind turbine tower market size was valued at USD 25.82 billion in 2024 and is projected to grow from USD 27.22 billion in 2025 to USD 41.45 billion by 2033, exhibiting a CAGR of 5.4% during the forecast period (2025-2033).
• By installation, the market is bifurcated into Offshore and Onshore. The onshore installation segment holds the largest market share.
• By type, the market is bifurcated into Steel Tower, Concrete Tower, and Hybrid Tower. The concrete tower holds the largest market share.
• Based on region, the global wind turbine tower market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America dominates the global market.

Competitive Players

1. Siemens Gamesa Renewable Energy, S.A.U.
2. Arcosa Wind Towers, Inc.
3. US Forged Rings Inc.
4. CS Wind
5. Marmen
6. Modvion
7. CNBM
8. GRI Renewable Industries
9. Vestas
10. Pemamek
11. PVUNITE Ltd.
12. SENLISWELD
13. Rohn Products, LLC
14. Ventower Industries
15. Global Energy (Group) Limited
16. Others

Recent Developments

• In February 2024, US Forged Rings, a US company, recently announced plans to establish a steel forging mill the following year and an offshore wind turbine tower manufacturing facility that should come on stream in 2026. The company, which aims to invest USD 700 mln in the two new plants on the US East Coast, is currently assessing possible locations and will choose a location shortly.
• In December 2024, Modvion, a Swedish company, is pioneering the development of wooden wind turbine towers. They have unveiled a tower designed for the largest onshore turbines, demonstrating the scalability of their technology for turbines with hub heights up to 219 meters. This approach reduces CO₂ emissions associated with traditional steel and concrete towers.

Segmentation

1. By Installation
   1. Offshore
   2. Onshore
2. By Type
   1. Steel Tower
   2. Concrete Tower
   3. Hybrid Tower
3. By Region
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa