Wind Tower Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Wind Tower Market is projected to experience substantial growth, rising from a valuation of USD 40.53 Billion in 2025 to USD 70.67 Billion by 2031, representing a CAGR of 9.71%. Wind towers act as essential vertical structures that elevate turbine nacelles and rotors to heights where wind velocity is stronger and more consistent, thereby maximizing energy capture. This sector is largely propelled by strict government mandates focused on decarbonization and the decreasing Levelized Cost of Energy, which renders utility-scale wind projects increasingly economically viable compared to traditional fossil fuel alternatives. According to the Global Wind Energy Council, the industry demonstrated significant momentum in 2024, installing a record 117 GW of new capacity worldwide, indicating robust investment across key regions.

However, the market faces a considerable obstacle in the form of insufficient grid transmission infrastructure, which hampers expansion efforts. The discrepancy between the rapid acceleration of wind farm development and the slower progress of grid modernization creates severe bottlenecks. These infrastructure limitations can delay project commissioning and introduce significant financial uncertainty for both developers and manufacturers, ultimately impeding the efficient deployment of new wind capacity.

Market Drivers

Technological advancements in taller and hybrid wind tower designs are fundamentally transforming the market as developers aim to exploit the stronger, more reliable wind resources found at higher altitudes. This trend drives the need for advanced modular and hybrid towers, often utilizing a combination of concrete and steel, to circumvent the logistical challenges associated with transporting massive, single-piece tubular sections. As turbine capacities expand, the structural demands on towers increase, requiring manufacturers to engineer solutions capable of supporting heavier nacelles while ensuring stability. This shift toward larger structures is highlighted by the U.S. Department of Energy's 'Land-Based Wind Market Report: 2024 Edition', released in August 2024, which noted that the average hub height of new land-based turbines in the United States reached 103.4 meters in 2023, confirming the industry's trajectory toward optimizing energy capture through increased dimensions.

concurrently, a surge in public and private investment, supported by favorable government policies, is providing the essential capital needed to scale up manufacturing and deployment. This financial stability is crucial for the sector, as it helps mitigate risks related to the high upfront costs of raw materials and facility expansion. The positive investment climate is especially evident in the offshore sector, where project pipelines are driving demand for specialized, corrosion-resistant towers. As noted by WindEurope in their March 2024 report, 'Wind energy in Europe: 2023 Statistics and the outlook for 2024-2030', Final Investment Decisions for new offshore projects hit a record EUR 30 billion in 2023. Furthermore, the Global Wind Energy Council forecasts that 410 GW of new offshore capacity will be installed over the next decade, ensuring a strong future order book for suppliers.

Market Challenges

The insufficiency of grid transmission infrastructure acts as a major restriction on the Global Wind Tower Market, effectively disconnecting the demand for renewable energy from the industry's capacity to supply it. Since wind towers are massive components that necessitate extensive logistical coordination and capital investment, their production is inextricably linked to confirmed project commissioning schedules. When grid interconnections are delayed or unavailable, developers are compelled to postpone construction, creating a ripple effect throughout the supply chain that leads to inventory stagnation and financial instability for manufacturers who cannot deliver or invoice for units until projects receive connection approval.

The severity of this infrastructure bottleneck is illustrated by the substantial backlog of permitted capacity that remains offline. According to WindEurope, as of 2025, over 500 GW of potential wind energy capacity was stalled in grid connection queues across ten European nations. This vast volume of suspended projects indicates that the wind tower market is being artificially suppressed, not by a lack of investment interest, but by the physical limitations of the power network, which prevents manufacturers from fully realizing their addressable market potential.

Market Trends

The rise of Sustainable Timber and Laminated Wood Tower Solutions marks a significant evolution aimed at lowering carbon footprints and overcoming logistical barriers. Unlike traditional steel structures, these engineered wood towers utilize Laminated Veneer Lumber to construct modular sections that can be transported by standard trucks, effectively resolving highway constraints. This innovation also provides superior strength-to-weight ratios, which reduces foundation loads. The feasibility of this approach was underscored by Fraunhofer WKI in a March 2024 article titled 'World's tallest wooden tower for wind turbines', which detailed the inauguration of a 105-meter tall wooden wind turbine tower in Sweden, proving that timber is capable of supporting modern utility-scale turbines.

In parallel, the development of specialized lightweight towers for floating offshore platforms is accelerating to enable access to deep-water zones where fixed foundations are impractical. This trend requires ultra-lightweight designs that minimize top mass to ensure the stability of the floating substructure, a critical factor for economic feasibility as it lowers the capital costs of the platform. The magnitude of this shift is reflected in the U.S. Department of Energy's 'Offshore Wind Market Report: 2024 Edition' from August 2024, which states that the global pipeline for floating offshore wind capacity has reached approximately 104.4 GW, highlighting the industry's move toward floating technologies to unlock untapped wind resources.

Key Players Profiled in the Wind Tower Market

• Siemens AG
• Vestas Wind Systems A/S
• General Electric Company
• Nordex Group
• Suzlon Energy Limited
• Envision Energy USA Limited
• Sinovel Wind Group Co., Ltd.
• Acciona S.A.

Report Scope

In this report, the Global Wind Tower Market has been segmented into the following categories:

Wind Tower Market, by Type:

• Main Gearbox
• Yaw Gearbox
• Others

Wind Tower Market, by Application:

• Offshore Wind
• Onshore Wind Power

Wind Tower Market, by Installation Type:

• New
• Replacement

Wind Tower Market, by Capacity:

• Up To 1.5mw
• 1.5mw-3mw
• 3mw-5mw
• Over 5mw

Wind Tower Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Wind Tower Market.

Available Customization

The analyst offers customization according to your specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.