Market research Future Wind Tower Market Leading Players, Share Report . | Page 3

Wind Tower Market Research Report- Forecast to 2023
2 Market Overview
The market has been witnessing significant growth opportunities globally, owing to increase in the demand
for wind towers on onshore or offshore projects. Strong government support and initiatives for wind energy
enhancement in several countries around the world majorly drive the growth in the wind tower market.
Governments of both, the developed and the developing nations are strongly promoting wind energy as an
alternative to conventional energy sources and hence are positively influencing the market for wind towers.
Moreover, depletion of fossil fuels and increase in demand for sustainable energy sources, is expected to
hold lucrative opportunity for market growth. However, the high maintenance and replacement costs of
wind turbines, is expected to restrain the market growth.
In 2016, Siemens has announced the commercial launch of a concrete wind turbine tower technology that
places turbines in stronger winds, at higher altitudes, which results in more potential energy production and
increased project revenue for customers. This technology is part of an ongoing commitment to use
innovation to expand wind power in the United States and around the globe.
Market Segmentation:
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