Technavio’s Wind Turbine Foundation Market Research Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

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NEW YORK, Dec. 27, 2021 /PRNewswire/ — The latest research report “Wind Turbine Foundation Market by Application and Geography – Forecast and Analysis 2021-2025 “, by Technavio infers the market to be driven positively by the change in the energy mix. The report also suggests the wind turbine foundation market to witness an accelerating growth momentum at a CAGR of 7.37% during the forecast period.

Attractive Opportunities in Wind Turbine Foundation Market by Application and Geography - Forecast and Analysis 2021-2025

Resulting in the market growth of USD 8.50 billion from 2020 to 2025, read additional information about the market, Get a FREE sample report.

 Vendor Landscape

The market structure is expected to remain fragmented during the forecast period. Vendors are deploying different organic and inorganic growth strategies to compete in the market. Vendors in the market are differentiated based on the application of wind turbine foundations offered by them.

The global wind turbine foundation market does not have any obvious dominant player. However, multiple relatively dominant vendors such as Offshore Wind Power Systems of Texas, Ramboll Group, and Suzlon Energy are present in the market.     

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

  • ArcelorMittal SA
  • Bladt Industries AS
  • Blue H Engineering BV
  • ENERCON GmbH
  • Equinor ASA
  • Offshore Wind Power Systems of Texas LLC
  • Orsted AS
  • Peikko Group Corp.
  • Ramboll Group AS
  • Suzlon Energy Ltd.

View more about the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings.

Key Market Segmentation

  • Segmentation by Application: 
    • Onshore: The wind turbine foundation market share growth by the onshore segment will be significant during the forecast period. Onshore wind farms use a shallow foundation, deep foundation, or a combined or hybrid foundation to support wind turbines. The growth of the global wind turbine foundation market by onshore applications is being driven by multiple factors, including the implementation of regulations by governments across the world. An increase in the height of wind towers and is also one of the reasons which will drive the global wind turbine foundation market by onshore applications during the forecast period.
    • Offshore 

Request a FREE Sample of this report for more highlights into the market segments.

Regional Market Outlook

APAC will contribute 52% of the market growth during the forecast period. With the increasing percentage of renewable energy, there has been an increased emphasis on clean energy sources. As a result, new wind installations in APAC cater to the growing need for energy.

China and India are the key markets for wind turbine foundations in APAC. The governments in these countries are promoting the large-scale installation of renewables to address the issue of environmental degradation and pollution because of the sudden change in population growth, large power consumption base, and the standard of living. Market growth in APAC will be faster than the growth of the market in other regions. Thus, the growing demand for electricity, along with the rising awareness among nations about the need to reduce the carbon footprint in electricity generation, is fueling the adoption of wind turbines on a global level.

Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.

Latest Trends, Driving the Wind Turbine Foundation Market

  • Market Driver:
    • Change in the energy mix
      • The energy mix is defined as the use of different proportions of energy sources such as fossil fuels, nuclear energy, and renewable energy to meet energy needs. The global energy mix has accelerated the installation of wind towers in the wind turbine foundation market. The growing global population and rising disposable income are also increasing the demand in developing countries.
  • Market Trend: The growing
    • Rapid installation of offshore wind farms  
      • The rapid installation of offshore wind farms is one of the key emerging trends in the wind turbine foundation market. The rapid installation rate of Offshore wind farms is getting high because they have better operational conditions when compared with onshore farms. Now With the availability of installing larger wind farms, we can achieve a higher input even with a smaller number of turbines.

Find additional information about various other market drivers & trends mentioned in our FREE sample report.

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Wind Turbine Foundation Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.37%

Market growth 2021-2025

USD 8.50 billion

Market structure

Fragmented

YoY growth (%)

5.68

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 52%

Key consumer countries

China, US, UK, India, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Companies profiled

ArcelorMittal SA, Bladt Industries AS, Blue H Engineering BV, ENERCON GmbH, Equinor ASA, Offshore Wind Power Systems of Texas LLC, Orsted AS, Peikko Group Corp., Ramboll Group AS, and Suzlon Energy Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

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UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

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