Pune, India, Dec. 18, 2023 (GLOBE NEWSWIRE) -- Wind Turbine Foundation Market Size
The global wind turbine foundation market will derive growth from recent product advancements. According to a report by Fortune Business Insights, titled “Wind Turbine Foundation Market Size, Share & Industry Analysis, By Type (Monopile, Jacket Pile, Gravity, Suction, Tripod, Raft, Others), By Application (Onshore, Offshore) and Regional Forecast, 2023-2030,” the market will benefit from the increasing awareness regarding global warming and greenhouse gas emissions.”
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Wind Turbine Foundation Industry Developments
June 2019: Prince Charles inaugurated ‘Beatrice Offshore Wind Farm,’ Scotland’s biggest offshore farm.
Wind Turbine Foundation Market Drivers & Restraints -
Increasing Efforts Taken to Maximize Renewable Energy Will Aid Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Accounting to the adverse effects of global warming and greenhouse emissions on the environment, several public as well as private organizations are putting in more efforts towards promoting the use of natural sources for deriving energy. Due to the efficiency of wind turbines, several companies are investing more towards setting up newer wind farms and turbines across the world. In August 2019, Enel Green Power initiated the construction of 34.6 MW wind farm in Malaga. The company has reportedly invested an estimated USD 35 million towards this project. This project is set to have a huge impact on the growth of the overall market in the coming years.
The increasing demand for electrical energy has created a subsequent need for sustainable alternative sources. The demand for clean energy and the concerns surrounding greenhouse emissions will have a direct impact on the growth of the market in the coming years. The need for naturally derived sources of electrical energy will create a subsequent demand for wind turbine foundations across the world. Accounting to the growing emphasis on the research and development of renewable sources, several companies are looking to invest more in newer products. The advancements in manufacturing parts of wind turbine foundations will contribute to an increase in the adoption for the product across the world. Moreover, the focus on maximizing the total output of these systems will yield innovative concepts at a rapid pace.
COVID-19 Impact
The COVID-19 pandemic has led to severe repercussion owing to its widespread effects across several economies. Several industries are facing unprecedented losses owing to the lockdown announced by several governments across the globe that has resulted in the complete shutdown of the businesses. The crippling economy, however, is being revived through collective efforts from the government as well as the industries and is expected to bounce back in the coming years.
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What does the Report Include?
The report provides an in-depth analysis of the global wind turbine foundation market. It highlights the latest product launches and recent innovations in the market and states their impact on the growth of the market. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years.
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will affect market growth. The report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Wind Turbine Foundation Market Segmentation
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Wind Turbine Foundation Market Regional Insights
Asia Pacific to Emerge Dominant; China’s Large Scale Energy Production to Aid Growth
The report analyzes the ongoing cinnamon market trends across five major regions; North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific is projected to emerge dominant in the coming years. The massive energy generation through wind turbines in emerging countries such as India, Japan, and China will aid the growth of the market in this region. Besides Asia Pacific, the market in North America will exhibit considerable CAGR in the coming years, driven by the amount of energy generated in offshore projects in several countries across this region.
Wind Turbine Foundation Companies Analyzed in Report:
- Peikko Group Corporation
- ACCIONA
- RUTE Foundation Systems, Inc
- Aurecon
- MS Enertech
- TWI
- Ramboll
- OWEC Tower
- Offshore Wind Power Systems of Texas LLC
- Blue H Engineering BV
- Inocean
- Principle Power
- Equinor
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Distribution Analysis
- Porter’s Five Forces Analysis
- PEST Analysis
- Technological Developments
- Impact of COVID-19
- Continued…
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