Global Wind Turbine Foundation Market Size Study & Forecast, by Type (Mono Pile, Jacket Pile, Gravity, Tripod, Others), By Application (Onshore, Offshore), and Regional Analysis, 2023-2030

Global Wind Turbine Foundation Market Size Study & Forecast, by Type (Mono Pile, Jacket Pile, Gravity, Tripod, Others), By Application (Onshore, Offshore), and Regional Analysis, 2023-2030

Global Wind Turbine Foundation Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Wind turbine foundation is a structural component that supports the entire weight of a wind turbine and transfers the loads generated by wind forces, gravity, and other environmental factors to the ground. It serves as the base upon which the tower, nacelle (housing the generator and other components), and rotor assembly (blades) are mounted. Moreover, the increasing demand for renewable energy, cohesive government support and policies, and rising environmental awareness are anticipated to create a lucrative demand for the market during the forecast period 2023-2030.

Additionally, the growth of wind farms directly supports the expansion of the wind turbine foundation market. As the number of wind farms grows globally, there is a corresponding increase in demand for wind turbine foundations. Each wind turbine within a wind farm requires a foundation to support its weight and ensure stability, making foundations an essential component of wind energy infrastructure. According to Statista, in 2019, the cumulative installed capacity of offshore wind turbine in the United Kingdom was 9,888 megawatts and the offshore wind farms are increasing significantly and the number reached 13,928 megawatts in 2022. Also, in 2022, the French government signed an offshore sector agreement with France's wind industry. The deal recognizes that offshore wind has substantial energy and industrial opportunities. By 2050, France will have to construct 40 GW of offshore wind capacity across 50 wind farms, which is likely to lead to significant advancements in offshore wind power. As a result, the growing wind farms are anticipated to create a lucrative opportunity for the market during the forecast period 2023-2030. Moreover, the expansion of offshore wind energy and rapid technological developments in wind turbines and wind farms are anticipated to create a lucrative opportunity for the market. However, the site-specific challenges coupled with costs and maintenance, and regulatory challenges coupled with environmental concerns stifle market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Wind Turbine Foundation Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing demand for renewable energy, cohesive government support and policies, advancements in wind turbine technology, and growing infrastructure development. Asia Pacific is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the rapid expansion of wind energy capacity, increasing demand for electricity, advancements in wind technology, and a growing focus on offshore wind energy.

Major market players included in this report are:
Vestas Wind Systems (Denmark)
Peikko Group Corporation (Finland)
ACCIONA (Spain)
RUTE Foundation Systems (U.K.)
Smart & Green Mukran Concrete GmbH (Germany)
Pemamek Oy (Finland)
JFE Engineering Corporation (Japan)
CREADIS (Denmark)
Bladt Industries A/S (Denmark)
Seewind Wind Energy Systems GmbH (Germany)

Recent Developments in the Market:
 In April 2023, ACCIONA and Orsted, leading renewable energy firms, entered into a Memorandum of Understanding (MOU) to tackle the manufacturing challenges associated with large foundations for offshore wind farms. This collaboration aims to innovate and design scalable solutions suitable for offshore wind farms of varying sizes and depths. The focus lies on developing cost-effective approaches for mass production, with a particular emphasis on leveraging floating concrete platforms. Furthermore, the partnership involves research into the utilization of materials like bio-cement, presenting potential advancements in the manufacturing processes of these foundations.

Global Wind Turbine Foundation Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Type, Application, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Mono Pile
Jacket Pile
Gravity
Tripod
Others

By Application:
Onshore
Offshore

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa


Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.