The global Wind Energy Foundation Market is likely to grow at a robust CAGR in the forecast period. Wind energy foundation is a turbine base that supports the wind energy structure against harsh environments. Hence, the foundation must be capable of supporting hydrodynamic loads along with aerodynamic loads.
The wind energy foundation market is driven by increase in demand for renewable energy sources since the market witnessed a higher traction in the past due to rise in number of energy installations. Rise in the number of market entrants and strategic alliances between key players are likely to add to the market growth during the forecast period. Significant demand from manufacturers with enhanced capacities in order to augment the power production is likely to account for a robust market growth during the forecast period. A rise in the number of offshore installations is likely to trigger the market growth.
Location segment for wind energy foundation market includes offshore and onshore. Offshore is further categorised as jacket-pile, mono-pile, tripod and suction. Onshore is further segmented as well foundation, pile and raft. Geographical segment for wind energy foundation market comprises North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions accounted for a significant market share in the near future owing to strong inclination of market players towards renewable sources of energy. The region is subject to witness rapid expansion in energy sector that will further boost industrial growth.
European market is a high traction market due to preference for clean sources of wind energy. Rise in need for electricity generation and energy developments are likely to replace the conventional sources of energy in the near future. The key players in the wind energy foundation industry include Ramboll Group, Owec Tower, MT Hojgaard, A/S Suzlon Group, SWAY AS, Blue H Engineering BV and Offshore Wind Power Systems.
Site Location outlook (Revenue, USD Million, 2013 - 2024)
• Well Foundation
Regional Outlook (Revenue, USD Million, 2013 - 2024)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)
Research Support Specialist, USA