Dublin, Dec. 15, 2021 (GLOBE NEWSWIRE) -- The "Wind Turbine Foundation Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Mono-Pile, Jacket-Pile, Gravity, Tripod, Suction, Raft, Pile, Well Foundation, Rock & Anchor, and Others); Application (Onshore and Offshore)" report has been added to ResearchAndMarkets.com's offering.
The global wind turbine foundation market is expected to grow from US$ 6,958.35 million in 2021 to US$ 15,868.94 million by 2028; it is estimated to grow at a CAGR of 12.5% during 2021-2028.
Continuous rise in the global population and disposable income in developing countries are driving energy consumption. To meet the energy needs, energy sources such as fossil fuels, nuclear energy, and renewable energy are being utilized in various quantities. The increased amount of renewable energy sources in the global energy mix has spurred industry expansion, resulting in high wind towers. However, the demand for increased power generation and improved development activities, in most countries are focusing on providing inexpensive, dependable, and secure energy, which is projected to boost the expansion of the wind turbine foundation market. The World Bank Group has unveiled a new program to help developing countries adopt offshore wind energy more quickly. In association with the International Finance Corporation (IFC), the group will support emerging nations in assessing their offshore wind potential by aiding technical assistance in developing a growing pipeline of projects that are worth investment.
China has more than 1,000 GW of technical potential for offshore wind due to its 18,000-kilometer-long coastline. State-owned energy businesses are in charge of the majority of projects. In 2019, European corporations, Electricite de France (EDF) and Equinor entered the market via collaborations with CHN energy and SPIC. Jiangsu Zhugensha H1 Offshore Wind Farma US$ 600 million project, built on China's first foreign-backed wind farm, was completed in December 2019. EDF and China Energy Investment Corporation collaborated on the first project-the 300 MW Dongtai IV wind farm. Phase 2, dubbed Dongtai V, will add 200 MW of power to the Dongtai in Jiangsu province.
Further, by 2040, Japan plans to construct 4 GW of capacity, to account for 7% of total power generation in that year. Japan's Akita Noshiro Offshore Wind Farm Project "The Akita Offshore Wind Farm Corporation" is constructing a 54.6 MW wind farm in Akita Port. MHI Vestas has been selected as the manufacturer of the 13 turbines for this project. Another 20 MHI Vestas turbines will be used in the nearby project in Noshiro Port. Commercial operations would commence in 2022, with 130,000 houses being served. Thus, the quickly expanding wind energy installation capacity and falling wind turbine prices worldwide are expected to propel the global wind turbine foundation market forward during the forecast period.
The wind turbine foundation market is segmented on the bases of type, application, and geography. Based on type, the market is segmented into mono-pile, jacket-pile, gravity, tripod, suction, raft, pile, well foundation, rock and anchor, and others. The gravity segment represented the largest share of the overall market in 2020. Based on application, the wind turbine foundation market is segmented into onshore and offshore. In 2020, the onshore segment accounted for the substantial share of the market. On the basis of geography, the wind turbine foundation market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2020, Europe accounted for a significant share of the market.
The COVID-19 pandemic in Europe has had a diverse impact on various nations, since only a few nations have seen an increase in the number of cases, consequently imposing stringent, long-term lockdown or social isolation measures. However, Western European nations such as Germany, France, Russia, and the UK witnessed a only a slight decline in their growth activities owing to their excellent healthcare systems. The governments of these countries have invested significant resources in improving the efficiency and efficacy of the detection and treatment of COVID-19. Following the relaxation of limitations, all wind turbine and component manufacturing plants in Europe are now open. To ensure full compliance with regulatory requirements, sanitary measures are reinforced within locations. As a result, the European wind turbine foundation market is expected to grow significantly in the coming years.
A few major players operating in the global wind turbine foundation market are Fugro; Ramboll Group A/S; Iberdrola, S.A.; BW Ideol; Peikko Group; EEW GROUP; Bladt Industries A/S; PRINCIPLE POWER, INC.; Mammoet; and SIF GROUP.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global wind turbine foundation market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global wind turbine foundation market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
Key Topics Covered:
1. Introduction
2. Key Takeaways
3. Research Methodology
4. Wind Turbine Foundation Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 APAC
4.2.4 MEA
4.2.5 SAM
4.3 Expert Opinions
5. Wind Turbine Foundation Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Deployment of Offshore Wind Farms
5.1.2 Rising Emphasis on Renewable Energy
5.2 Market Restraints
5.2.1 High Cost Required for Wind Turbine Foundation
5.3 Market Opportunities
5.3.1 Growing Demand in Developing Countries
5.4 Future Trends
5.4.1 Next-Generation Wind Turbines
5.5 Impact Analysis of Drivers and Restraints
6. Wind Turbine Foundation - Global Market Analysis
6.1 Global Wind Turbine Foundation Market Overview
6.2 Global Wind Turbine Foundation Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. Wind Turbine Foundation Market - By Type
7.1 Overview
7.2 Wind Turbine Foundation Market, By Type (2020 and 2028)
7.3 Mono-Pile
7.3.1 Overview
7.3.2 Mono-Pile: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Jacket-Pile
7.4.1 Overview
7.4.2 Jacket-Pile: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Gravity
7.5.1 Overview
7.5.2 Gravity: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.6 Tripod
7.6.1 Overview
7.6.2 Tripod: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.7 Suction
7.7.1 Overview
7.7.2 Suction: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.8 Raft
7.8.1 Overview
7.8.2 Raft: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.9 Pile
7.9.1 Overview
7.9.2 Pile: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.10 Well Foundation
7.10.1 Overview
7.10.2 Well Foundation: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.11 Rock and Anchor
7.11.1 Overview
7.11.2 Rock and Anchor: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
7.12 Others
7.12.1 Overview
7.12.2 Others: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
8. Wind Turbine Foundation Market - By Application
8.1 Overview
8.2 Wind Turbine Foundation Market, by Application (2020 and 2028)
8.3 Onshore
8.3.1 Overview
8.3.2 Onshore: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Offshore
8.4.1 Overview
8.4.2 Offshore: Wind Turbine Foundation Market - Revenue and Forecast to 2028 (US$ Million)
9. Wind Turbine Foundation Market - Geographic Analysis
10. Wind Turbine Foundation Market - COVID-19 Impact Analysis
10.1 Overview
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 South America
11. Industry Landscape
11.1 Merger and Acquisition
11.2 New Development
12. Company Profiles
12.1 Fugro
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 Ramboll Group A/S
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 Iberdrola, S.A.
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 BW Ideol
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 Peikko Group
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
12.6 EEW GROUP
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Bladt Industries A/S
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 PRINCIPLE POWER, INC.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Mammoet
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 SIF GROUP
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
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