Market research Future Wind Tower Market Leading Players, Share Report . | Page 4

Wind Tower Market Research Report- Forecast to 2023
3 Market Research Analysis
Currently, the wind energy is in the growth stage. This is due to the increase in demand for power, global
initiatives to use more renewable, non-conventional energy sources, and the global need to restrict carbon
emission. European governments and the EU, as a whole, have supported wind projects with favourable
incentives, as part of their carbon emission reduction goals. Europe region is currently the leading in wind
tower market, and is followed by North America.
Asia Pacific is expected to grow during the forecast period due to many reasons. Increasing wind power
generation capacity, stringent environmental regulations for emissions from burning conventional fuel,
increasing demand of larger blades, and increased government support for wind power projects, are some
of them. Currently, China has the largest number of wind energy projects under planning and construction
phase, which is followed by Japan and South Korea.
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