Global Wind Energy Foundation Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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“Global Wind Energy Foundation Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global wind energy foundation market report has been segmented on the basis of the site location, foundation type, and region.
Global Wind Energy Foundation Market: Overview
Wind energy foundation is responsible for supporting the structure against all static and dynamic load conditions. In the case of an onshore wind energy project, the foundation is constructed on different types of terrains under challenging soil and environmental conditions. Whereas, offshore wind turbines are installed in transitional water, shallow water, and deep water. The foundation designs vary according to the ground conditions, project, and the rules and regulations.
Global Wind Energy Foundation Market: Dynamics
Shifting preference towards power generation from renewable sources such as wind and solar, increasing investments in renewable energy, demand for energy, positive government support to save energy and improve the energy efficiency are some of the key factors expected to drive growth of the global wind energy foundation market. Moreover, renewable energy auctions, lower operations, and maintenance (O&M) costs and feed-in tariffs (FiTs) also anticipated boosting the market towards growth. In addition, environmental concerns, increasing investments for renewable energy sources, along with the aim to reduce the harmful effects of the greenhouse gases are some factors driving the market growth over the forecast period.
A recent trend observed in the target market is the installation of clean and sustainable energy sources are increasing day by day. In addition, rapid installation of the offshore wind farm, increasing height of wind towers, coupled with regulations pertaining to clean energy are expected to open new opportunities in the global wind energy foundation market. According to Global Wind Energy Council (GWEC), at the end of 2017, approximately 84% (15,780MW) of all offshore installations were located in the waters off the coast of European countries including the UK, Germany, Denmark, Netherlands, Belgium, Sweden, Finland, Ireland, Spain, Norway, and France.
Whereas, climatic changes including wind speed and density of air flowing may restrain growth of the target market.
Global Wind Energy Foundation Market: Segment Analysis:
Among the site location, the onshore segment is expected to hold a significant share in the market over the forecast period.
Among the foundation type, the mono-pile segment dominates the global market and expected to witness significant growth over the forecast period.
Global Wind Energy Foundation Market: Regional Analysis:
The market in Europe dominates the global wind energy foundation market in terms of revenue, owing to the rising demand for clean energy. In addition, favorable government initiatives and increasing awareness related to benefits associated with the use of renewable energy are some of the factors driving the market growth.
The market in Asia Pacific is expected to register substantial growth in the global market over the forecast period, due to availability of wind resources coupled with low prices as compared to other countries. Moreover, rise in need for electricity generation and energy developments are propelling growth for wind energy foundations over the forecast period.
Global Wind Energy Foundation Market Segmentation:
Segmentation by Site location:
Segmentation by Foundation Type:
- Others (Gravity Base Foundations, Tripod foundations, Suction Bucket or Caisson Foundations)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Suzlon Energy Limited
- Ramboll Group
- OWEC Tower AS
- Offshore Wind Power Systems of Texas LLC
- Blue H Engineering BV
- SWAY AS
- Statoil ASA
- Principle Power, Inc.
- DONG Energy (UK) Ltd.
- Marine Innovation & Technology
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