Middle East & Africa Wind Turbine Tower Market Forecast to 2030
Middle East & Africa Wind Turbine Tower Market Forecast to 2030 – Regional Analysis – by Tower Type (Tubular Steel Towers, Lattice Towers, and Hybrid Towers) and Deployment Type (Onshore and Offshore)
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Description
Technology Advancements to Attain More Wind Energy Potential Drives Middle East & Africa Wind Turbine Tower Market
Technological advancement in wind energy can reduce the operational cost in the near future. In terms of wind turbine towers, the manufacturing of taller towers can unlock the higher potential of the wind turbine. Stronger winds are normal at higher heights; sometimes, it is beyond the reach of conventional turbines. An average 17-meter increase in height can offer the additional clearance required for longer blades to attain those high-altitude winds. In addition, the application of concrete structures for offshore wind turbines provides many advantages over towers made of only steel, which include a longer lifespan and more durability. The taller wind turbine towers and concrete-based turbine towers have more potential in wind energy projects than conventional towers, which is one of the future trends for the wind turbine tower market.
Middle East & Africa Wind Turbine Tower Market Overview
Egypt, South Africa, and Saudi Arabia are some of the major markets for wind turbine towers in the Middle East & Africa. These countries are substantially contributing to wind energy production, which is further increasing the market growth. The prime aspects responsible for the market growth are the improved initiatives for using green energy sources to meet the growing power demand reducing dependency on fossil fuels coupled with supportive government policies.
As per the Global Wind Energy Council in April 2022, the Middle East & Africa are expected to add 14 GW of new wind power capacity by 2026. These new wind power capacity additions in the MEA are primarily led by South Africa (5.4 GW), Egypt (2.2 GW), Morocco (1.8 GW), and Saudi Arabia (1.3 GW). In the MEA, onshore wind energy power generation technology has evolved over the last five years to increase the power generation capacity to cover more sites with lower wind speeds in the Middle East & Africa. In May 2022, Savannah Energy built a 500 MW capacity renewable energy power plant in the Republic of Chad, which includes a 100 MW wind farm that will serve N’Djamena city under a new agreement signed with the Chadian government. In 2023, ACWA Power installed the largest wind turbine in the Bukhara region of Uzbekistan. ACWA Power’s 500 MW wind farm is anticipated to feature 79 of the biggest wind turbines in Central Asia and is projected to generate over 1,650 GWh of electricity yearly. It will reduce carbon dioxide emissions by 750 tonnes per year. Thus, the addition of wind farms in renewable energy is strengthening the renewable energy capacity, lowering the emissions and dependence on fossil fuel-based power, which is expected to further fuel the market growth of wind turbine towers during the forecast period. Also, the increasing investment in the construction of wind farms in the region is raising the demand for wind turbine towers. This is further pushing the manufacturers to produce more efficient turbine towers, further boosting the market growth.
Middle East & Africa Wind Turbine Tower Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Wind Turbine Tower Market Segmentation
The Middle East & Africa wind turbine tower market is segmented based on tower type, deployment type, and country. Based on tower type, the Middle East & Africa wind turbine tower market is segmented into tubular steel towers, lattice towers, and hybrid towers. The tubular steel towers segment held the largest market share in 2022.
Based on deployment type, the Middle East & Africa wind turbine tower market is bifurcated into onshore services and offshore services. The onshore services held a larger market share in 2022.
Based on country, the Middle East & Africa wind turbine tower market is segmented into Saudi Arabia, Egypt, South Africa, and the Rest of Middle East & Africa.outh Africa dominated the Middle East & Africa wind turbine tower market share in 2022.
Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, Valmont Industries Inc, Nordex SE, and Cs Wind Corp are some of the leading companies operating in the Middle East & Africa wind turbine tower market.
Summary Info
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According to the Research Team research, the Middle East & Africa wind turbine tower market was valued at US$ 225.76 million in 2022 and is expected to reach US$ 530.23 million by 2030, registering a CAGR of 11.3% from 2022 to 2030. Increase in number of wind farms and decreased cost of tower manufacturing are among the critical factors attributed to the Middle East & Africa wind turbine tower market expansion.
Growing focus on mitigating greenhouse gas emissions and rising concerns about increasing levels of environmental pollution are boosting the application of renewable energy sources in different end-use industries, which, in a way, is also fueling the demand for wind energy. Nearly 77.6 GW of new wind power capacity was installed, and the total installed capacity reached ~906 GW in 2022 globally. The increasing government initiatives toward funding wind projects and maintaining the old wind farms are boosting the demand for wind turbine towers globally.
Governments of various countries in the Middle East & Africa installed 453 MW of wind power in 2022, the lowest since 2013, after a record year in new installations in 2021. The low installations in 2022 are due to delays in many awarded onshore wind projects from the REIPPP Bid Window 5 auction in South Africa and no wind capacity being awarded from the REIPPP Bid Window 6 auction due to the unavailability of grid capacity in the provinces of Eastern Cape and Western Cape. However, the number of wind projects are likely to increase in North Africa and Saudi Arabia, along with the projects from the REIPPP Bid Window 5 auction coming online. According to the report by the Global Wind Energy Council, a total new capacity of 17 GW is expected to be added in the next five years (2023–2027), of which 5.3 GW will be recorded from South Africa, 3.6 GW from Egypt, 2.4 GW from Saudi Arabia, and 2.2 GW from Morocco. Further, per the news released by Reuters in November 2022, the presidents of the UAE and Egypt signed an agreement to develop one of the world’s largest onshore wind projects in Egypt. The 10 GW farm is expected to produce 47,790 GWh of clean energy annually and offset 23.8 million tonnes of carbon dioxide emissions.
Thus, the increasing governmental initiative and funding, along with the growing inclination toward wind energy as one of the prominent renewable energy sources, is boosting the demand for wind turbine towers globally. The growing number of wind farms is acting as a major driver for the wind turbine tower market.
On the contrary, overdependence on Chinese wind turbine tower manufacturers hurdles the growth of Middle East & Africa wind turbine tower market.
Based on tower type, the Middle East & Africa wind turbine tower market is categorized into tubular steel towers, lattice towers, and hybrid towers. The tubular steel towers segment held 93.3% market share in 2022, amassing US$ 210.73 million. It is projected to garner US$ 494.70 million by 2030 to expand at 11.3% CAGR during 2022–2030.
Based on deployment type, the Middle East & Africa wind turbine tower market is bifurcated into onshore and offshore. The onshore segment held 100.0% share of Middle East & Africa wind turbine tower market in 2022, amassing US$ 225.76 million. It is projected to garner US$ 530.23 million by 2030 to expand at 11.3% AGR during 2022–2030.
Based on country, the Middle East & Africa wind turbine tower market has been categorized into Saudi Arabia, Egypt, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 40.0% share of Middle East & Africa wind turbine tower market in 2022. It was assessed at US$ 90.30 million in 2022 and is likely to hit US$ 157.11 million by 2030, exhibiting a CAGR of 7.2% during 2022–2030.
Key players operating in the Middle East & Africa wind turbine tower market are Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, Valmont Industries Inc, Nordex SE, and Cs Wind Corp., among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa wind turbine tower market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Wind Turbine Tower Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Raw Material Suppliers
4.2.2 Component Manufacturers
4.2.3 End User
5. Middle East & Africa Wind Turbine Tower Market – Key Industry Dynamics
5.1 Wind Turbine Tower Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increase in Number of Wind Farms
5.2.2 Favorable Government Policies and Initiatives for Wind Energy
5.2.3 Decreased Cost of Tower Manufacturing
5.3 Market Restraints
5.3.1 Overdependence on Chinese Wind Turbine Tower Manufacturers
5.4 Market Opportunities
5.4.1 Rising Demand for Floating Wind Technology
5.5 Future Trends
5.5.1 Technology Advancements to Attain More Wind Energy Potential
5.6 Impact of Drivers and Restraints:
6. Middle East & Africa Wind Turbine Tower Market – Market Analysis
6.1 Wind Turbine Tower Market Revenue (US$ Million), 2022 – 2030
6.2 Wind Turbine Tower Market Forecast and Analysis
7. Middle East & Africa Wind Turbine Tower Market Analysis – Tower Type
7.1 Wind Turbine Tower Market, By Tower Type (2022 and 2030)
7.2 Tubular Steel Towers
7.2.1 Overview
7.2.2 Tubular Steel Towers Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Lattice Towers
7.3.1 Overview
7.3.2 Lattice Towers Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Hybrid Towers
7.4.1 Overview
7.4.2 Hybrid Towers Market, Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Wind Turbine Tower Market Analysis – Deployment Type
8.1 Wind Turbine Tower Market, By Deployment Type (2022 and 2030)
8.2 Onshore
8.2.1 Overview
8.2.2 Onshore Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Offshore
8.3.1 Overview
8.3.2 Offshore Market, Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa Wind Turbine Tower Market – Country Analysis
9.1 Middle East & Africa
9.1.1 Middle East & Africa Wind Turbine Tower Market Overview
9.1.2 Middle East & Africa Wind Turbine Tower Market Revenue and Forecasts and Analysis – By Country
9.1.2.1 South Africa Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.1.1 South Africa Wind Turbine Tower Market Breakdown by Tower Type
9.1.2.1.2 South Africa Wind Turbine Tower Market Breakdown by Deployment Type
9.1.2.2 Saudi Arabia Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.2.1 Saudi Arabia Wind Turbine Tower Market Breakdown by Tower Type
9.1.2.2.2 Saudi Arabia Wind Turbine Tower Market Breakdown by Deployment Type
9.1.2.3 Egypt Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.3.1 Egypt Wind Turbine Tower Market Breakdown by Tower Type
9.1.2.3.2 Egypt Wind Turbine Tower Market Breakdown by Deployment Type
9.1.2.4 Rest of MEA Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.4.1 Rest of MEA Wind Turbine Tower Market Breakdown by Tower Type
9.1.2.4.2 Rest of MEA Wind Turbine Tower Market Breakdown by Deployment Type
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
11. Industry Landscape
11.1 Overview
11.2 New Product Development
11.3 Market Initiative
12. Company Profiles
12.1 Vestas Wind Systems AS
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Siemens Gamesa Renewable Energy SA
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Valmont Industries Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Nordex SE
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Cs Wind Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About the Research Team
LIST OF TABLES
Table 2. Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Million) – Tower Type
Table 4. Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Million) – Deployment Type
Table 5. South Africa Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn) – By Tower Type
Table 6. South Africa Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Type
Table 7. Saudi Arabia Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn) – By Tower Type
Table 8. Saudi Arabia Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Type
Table 9. Egypt Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn) – By Tower Type
Table 10. Egypt Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Type
Table 11. Rest of MEA Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn) – By Tower Type
Table 12. Rest of MEA Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Type
Table 13. Heat Map Analysis by Key Players
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LIST OF FIGURES
Figure 2. Ecosystem: Wind Turbine Tower Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Wind Turbine Tower Market Revenue (US$ Million), 2022 – 2030
Figure 5. Wind Turbine Tower Market Share (%) – Tower Type, 2022 and 2030
Figure 6. Tubular Steel Towers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7. Lattice Towers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Hybrid Towers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Wind Turbine Tower Market Share (%) – Deployment Type, 2022 and 2030
Figure 10. Onshore Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Offshore Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Wind Turbine Tower Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 13. Middle East & Africa Wind Turbine Tower Market Breakdown by Country (2022 and 2030)
Figure 14. South Africa Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 15. Saudi Arabia Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 16. Egypt Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 17. Rest of MEA Wind Turbine Tower Market Revenue and Forecasts to 2030 (US$ Mn)
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1. Vestas Wind Systems AS
2. Siemens Gamesa Renewable Energy SA
3. Valmont Industries Inc
4. Nordex SE
5. Cs Wind Corp
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