DUBLIN – (COMMERCIAL THREAD) – The “Wind Turbine Foundation Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Type (Monopile, Jacket Pile, Gravity, Tripod, Suction, Raft, Pile, Well Foundation, Rock and anchor and others)); The Application report (Onshore and Offshore) “has been added to ResearchAndMarkets.com offer.

The global wind turbine foundations 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 increase at a CAGR of 12.5% ​​during 2021-2028.

The continued increase in the world’s population and disposable income in developing countries is boosting energy consumption. To meet energy needs, energy sources such as fossil fuels, nuclear power and renewable energies are used in varying amounts. The increasing amount of renewable energy sources in the global energy mix has spurred the expansion of the industry, resulting in the creation of tall wind towers. However, the demand for increased power generation and improved development activities is focused in most countries on the provision of inexpensive, reliable and secure power, which is expected to drive market expansion. wind turbine foundations. The World Bank Group has unveiled a new program to help developing countries adopt offshore wind power faster. In association with the International Finance Corporation (IFC), the group will support emerging countries in assessing their offshore wind potential by providing technical assistance to the development of a growing portfolio of projects worth investing in.

China has over 1,000 GW of technical potential for offshore wind power due to its 18,000 kilometer-long coastline. The public energy companies are in charge of the majority of the projects. In 2019, European companies, Électricité de France (EDF) and Equinor entered the market through collaborations with CHN energy and SPIC. Jiangsu Zhugensha H1 Offshore Wind Farma The US $ 600 million project, built on China’s first foreign-funded wind farm, was completed in December 2019. EDF and China Energy Investment Corporation collaborated on the first project, the wind farm 300 MW Dongtai IV wind farm. Phase 2, dubbed Dongtai V, will add 200 MW of power to Dongtai in Jiangsu province.

In addition, by 2040, Japan plans to build 4 GW of capacity, representing 7% of total electricity production that year. The Akita Noshiro offshore wind farm project in Japan “The Akita Offshore Wind Farm Corporation” is building a 54.6 MW wind farm in the port of Akita. MHI Vestas was selected as the manufacturer of the 13 turbines for this project. 20 other MHI Vestas turbines will be used in the neighboring Noshiro port project. Commercial operations would begin in 2022, with 130,000 homes served. Thus, the rapidly expanding wind power installation capacity and declining prices of wind turbines around the world are expected to propel the global wind turbine foundation market during the forecast period.

The COVID-19 pandemic in Europe has had a diverse impact on various countries, as only a few countries have seen an increase in the number of cases, thereby imposing strict and long-term lockdown or social isolation measures. However, Western European countries such as Germany, France, Russia and the UK only experienced a slight decline in their growth activities due to their excellent healthcare systems. The governments of these countries have invested significant resources to improve the efficiency and effectiveness of the detection and treatment of COVID-19. Following the easing of restrictions, all wind turbine and component manufacturing plants in Europe are now open. In order to ensure full compliance with regulatory requirements, sanitary measures are reinforced within the sites. As a result, the European wind turbine foundations market is expected to experience significant growth in the coming years.

Reasons to buy

• Gain and reduce the time required to conduct entry-level research by identifying the growth, size, leading players and segments of the global Wind Turbine Foundation Market.

• Highlights key business priorities to help companies realign their business strategies.

• The key findings and recommendations highlight crucial progressive industry trends in the global Wind Turbine Foundation Market, thereby enabling value chain players to develop effective long term strategies.

• Develop / modify business expansion plans using a substantial growth offering in developed and emerging markets.

• Take an in-depth look at the global market trends and outlook associated with the factors driving the market, as well as those hindering it.

• Improve the decision-making process by understanding the strategies that underpin the business interest with respect to customer products, segmentation, pricing and distribution.

Market dynamics

Conductors

• Growing deployment of offshore wind farms

• Growing focus on renewable energies

Constraints

• High cost required for the foundation of wind turbines

Opportunities

• Growing demand in developing countries

Future trends

• New generation wind turbines

Companies mentioned

• Bladt Industries A / S

• Fugro

• Iberdrola, SA

• Ideol BW

• SIF Group

• Mammoet

• EEW Group

• Peikko Group

• Principe Power, Inc.

• Ramboll Group A / S

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