Report : 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)
At 11.3% CAGR, Middle East & Africa Wind Turbine Tower Markets Projected to be Worth US$ 530.23 Million by 2030, says Business Market Insights
According to Business Market Insights’ 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.
- In June 2021, Vestas signed an agreement with CS Wind for the acquisition of Vestas’ tower manufacturing facility in Pueblo, Colorado. The aim of the agreement is to allow the factory to be run by a company specialized in tower manufacturing and hereby enable increased volume as well as sustained local job creation by extending tower production to multiple wind turbine manufacturers, including Vestas.
- In June 2020, In Motilla del Palancar the wind turbine manufacturer is now starting the construction work for a factory for the production of concrete towers for its turbines on a 12-hectare site. Following completion in August, the Nordex Group offered jobs for around 300 employees while creating a further 200 jobs with local component suppliers.
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