What is Wind Energy Foundation Market?
In the recent years the renewable and sustainable energy sources have gained popularity due to increased oil prices, emission of carbon dioxide and over exploitation of fossil fuels. The foundation for on land wind turbine towers can be grouped into two types spread foundations and piled foundations. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Highlights from Wind Energy Foundation Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | GE Renewable Energy (France), Siemens Gamesa (Germany), Vestas (Denmark), Goldwind (China), Suzlon (India), Ramboll Group (Denmark), Peikko Group (Finland), Equinor (Norway), Dominion Energy Inc (United States) and SIEMENS GAMESA RENEWABLE ENERGY SOCIEDAD ANONIMA (Germany) |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
GE Renewable Energy (France), Siemens Gamesa (Germany), Vestas (Denmark), Goldwind (China), Suzlon (India), Ramboll Group (Denmark), Peikko Group (Finland), Equinor (Norway), Dominion Energy Inc (United States) and SIEMENS GAMESA RENEWABLE ENERGY SOCIEDAD ANONIMA (Germany) are some of the key players profiled in the study. Wind Energy Foundation Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Offshore and Onshore |
Type | Land, - Spread foundations, - Piled foundations, Offshore, - Monopile, - Jacket/Tripod Space Frame, - TLP/Semi-Sub Floating Structure, - Tri-Pile Space Frame and Other |
Slab foundation | 1 MW {15 m diameter and 1.5 - 3.5 m deep},1 to 2 MW { 130 to 240 m3},Others |
On the basis of geography, the market of Wind Energy Foundation has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Trend for Gravity-type Foundation Derives Stability from its Self-weight and is the first kind of Foundations used in Offshore Wind Farms and Increasing Use of Wind Energy Turbines
Market Growth Drivers:
Increasing Monopiles, Gravity-based Foundation in offshore wind and Recent years the renewable and sustainable energy sources have gained popularity due to increased oil prices, emission of carbon dioxide and over exploitation of fossil fuels
Challenges:
Upgradation in the Wind Energy Foundation Composite Materials
Restraints:
Problem with the Composite Materials Fatigue Issues in Wind Energy Foundation
Opportunities:
Technological Advancement and Upgradation in the Wind Energy Composite Materials and Increasing Government Spending on Wind Energy
Key Target Audience
Wind Energy Foundation Manufacturers, Wind Energy Sector Industry Association, Regulatory Bodies, Potential Investors, New Entrants, Research and Development Institutes and Others
On 6th Oct 2020, Denmark-based wind turbine firm, Vestas, said it has launched a new of turbine optimized for low and ultra-low wind project conditions in India. It add that the turbine would be locally manufactured and sourced in the country.