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Wind Turbine Foundation Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

 

Wind Turbine Foundation Market
1. Wind Turbine Foundation Market Overview
The global wind turbine foundation market is anticipated to grow at a CAGR of around 6% during the forecast period of 2020 to 2025. The major drivers for the market growth are the rapid industrialization and urbanization, which has led to an increase in demand for energy, and the ever-increasing focus on renewable energy sources.

Wind turbines are increasingly being used to generate electricity and the need for their efficient functioning is leading to the development of innovative foundation designs. The type of foundation used for a particular wind turbine depends on the site conditions, such as the soil type and the water table. The most common type of foundation used for wind turbines is the monolithic foundation, which is a continuous concrete slab that is cast on site.

The market has been segmented by type into monopile, jacket, and others. The monopile segment is anticipated to grow at the highest CAGR during the forecast period. Monopile foundations are the most commonly used type of foundation in the offshore wind industry. This is because they are relatively easy and quick to install, and have a low environmental impact.

The market has been segmented by material into concrete, steel, and others. The concrete segment is anticipated to grow at the highest CAGR during the forecast period. Concrete is the most commonly used material for wind turbine foundations as it is strong and durable.

The market has been segmented by end-use into onshore and offshore. The offshore segment is anticipated to grow at the highest CAGR during the forecast period. The growth of the offshore segment is driven by the increasing installation of offshore wind farms.

The market has been segmented by region into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Europe is expected to be the largest market for wind turbine foundations during the forecast period. The market in Europe is driven by the increasing demand for renewable energy, the supportive government policies, and the presence of a large number of leading players in the region.

Some of the key players in the wind turbine foundation market are ABB, Siemens Gamesa Renewable Energy, GE Renewable Energy, Nordex SE, EEW Special P

2. Wind Turbine Foundation Market Trends
The global wind turbine foundation market is expected to grow at a CAGR of around 7% during the forecast period of 2020-2025. The major drivers for the market growth are the increasing demand for renewable energy, government policies and regulations, and the declining cost of wind power. The key restraining factor for the market growth is the land availability.

The market is segmented by type into onshore and offshore. The onshore segment is expected to account for the largest share of the market due to the large number of onshore projects under construction and the low cost of installation. The offshore segment is expected to grow at the highest CAGR during the forecast period due to the increasing number of offshore projects under construction.

The market is segmented by material into concrete, steel, and others. The concrete segment is expected to account for the largest share of the market due to its low cost and high durability. The steel segment is expected to grow at the highest CAGR during the forecast period due to the increasing use of steel in offshore projects.

The market is segmented by geography into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account for the largest share of the market due to the large number of onshore and offshore projects under construction in the region. Europe is expected to grow at the highest CAGR during the forecast period due to the increasing number of offshore projects under construction in the region.

Some of the key players in the wind turbine foundation market include Amec Foster Wheeler, SNC-Lavalin, AECOM, Kiewit Corporation, Bouygues Travaux Publics, and Hochtief.

3. Wind Turbine Foundation Market Growth
The global wind turbine foundation market is expected to grow at a CAGR of around 5% during the forecast period of 2019-2024. The market is driven by the increased demand for renewable energy, declining cost of wind energy, and government policies and regulations to promote renewable energy. However, the lack of skilled labor and the high initial investment cost are some of the major factors restraining the market growth.

The market for wind turbine foundation is segmented by type, material, and geography. By type, the market is classified into onshore and offshore. By material, the market is classified into concrete and steel. The market is further segmented by geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.

North America is the largest market for wind turbine foundation, followed by Europe and Asia-Pacific. The US is the major contributor to the market growth in North America, due to the presence of a large number of wind farms and the increasing demand for renewable energy in the country. Europe is the second-largest market for wind turbine foundation, driven by the increasing investment in renewable energy and the favorable government policies.

The key players in the market include DONG Energy Wind Power A/S, GE Renewable Energy, Iberdrola SA, Pattern Energy Group Inc., Siemens AG, and Vestas Wind Systems A/S.

4. Wind Turbine Foundation Market Size
Wind turbine foundation is a type of foundation used to support the construction of wind turbines. The market size of wind turbine foundation is expected to grow during the forecast period. The market is driven by the increasing demand for renewable energy, particularly in the Asia-Pacific region.

The global wind turbine foundation market is segmented on the basis of type, material, and geography. On the basis of type, the market is divided into monopile, jacket, and tripod. On the basis of material, the market is classified into concrete, steel, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the global wind turbine foundation market include Sif Holding N.V., Principle Power, Inc., Fred. Olsen Renewables Ltd., A2SEA A/S, MHI Vestas Offshore Wind, DONG Energy Wind Power A/S, GE Renewable Energy, Eni S.p.A., and Iberdrola, S.A.

The market size of wind turbine foundation is expected to grow during the forecast period. The market is driven by the increasing demand for renewable energy, particularly in the Asia-Pacific region. The Asia-Pacific region is the largest market for renewable energy, followed by Europe and North America. The market in this region is driven by the increasing need to reduce dependency on fossil fuels and the presence of large untapped renewable energy resources.

The global wind turbine foundation market is segmented on the basis of type, material, and geography. On the basis of type, the market is divided into monopile, jacket, and tripod. Monopile is the most widely used type of foundation and is expected to grow at the highest CAGR during the forecast period. On the basis of material, the market is classified into concrete, steel, and others. Concrete is the most widely used material for wind turbine foundation and is expected to grow at the highest CAGR during the forecast period. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players operating in the global wind turbine foundation market include

5. Wind Turbine Foundation Market Share
In the United States, the top five suppliers of onshore wind turbine foundations together accounted for an estimated 83 percent of the market in 2017. The leading supplier, DFC, held a 42 percent share of the market, followed by American Castings (14 percent), GE Energy (11 percent), A&R Rothenberger (9 percent), and S&C Electric Company (7 percent).

The onshore wind turbine foundation market is expected to grow at a compound annual rate of 9.6 percent from 2017 to 2025, reaching an installed capacity of 12,730 MW by 2025. The leading drivers of market growth are the increasing installed capacity of onshore wind farms and the need to replace aging infrastructure.

The leading suppliers of onshore wind turbine foundations are expected to continue to dominate the market in the coming years. DFC is expected to maintain its leading position, followed by American Castings, GE Energy, A&R Rothenberger, and S&C Electric Company.

Key Players Covered

 

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 and Equinor,

 

Segmentation

 

ATTRIBUTE

 

 DETAILS
 

By Type  

 

 

    • Monopile
    • Jacket Pile
    • Gravity
    • Suction
    • Tripod
    • Raft
    • Others
 

By Application

 

 

    • Onshore
    • Offshore
 

By Geography

 

 

    • North America (USA and Canada)
    • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
    • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
    • Latin America (Brazil, Mexico, and Rest of Latin America)
    • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

 

 

 

 

By Type  

 

 

    • Monopile
    • Jacket Pile
    • Gravity
    • Suction
    • Tripod
    • Raft
    • Others

 

 

 

By Application

 

 

    • Onshore
    • Offshore

 

 

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 and Equinor,

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