Europe Wind Turbine Foundation Market

Market Introduction

The Europe wind turbine foundation market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Wind turbines are utilized to generate economical and dependable electricity. This also aids in the reduction of CO2 gas emissions, which lessens the greenhouse gas effect indirectly. Wind turbines use cutting-edge technology that is both powerful and efficient. As wind turbines are situated in a location with the most significant amount of wind exposure, the foundation must be exceptionally sturdy to withstand the wind pressure. The foundation of a wind turbine is built by evaluating the type of soil and other environmental elements that affect the foundation's development. Based on onshore and offshore projects, the foundation material and type are chosen. The foundation's priority is to keep the wind turbine stable and transmit the weight to the ground. Hence, the wind turbine foundation must be strong enough to withstand the pressure produced by the structure above it for the wind turbine to remain stable. Raft and pile foundations are the most common forms of foundations.

The COVID-19 pandemic in Europe has had a diverse impact on various nations since only a few nations have seen an increase in the number of cases, resulting in stringent, long-term lockdown periods or social isolation standards. Because of their excellent healthcare systems, Western European nations such as Germany, France, Russia, and the UK have witnessed a comparably slight decline in their growth activities. The governments of these nations have made significant expenditures in improving the efficiency and efficacy of disease detection and treatment. Following the relaxation of limitations across Europe, all of Europe's wind turbine and component manufacturing are now open. Sanitary measures are reinforced within locations to ensure full compliance with regulatory requirements. As a result, the European wind turbine foundation market is expected to grow significantly in the coming years.

Market Overview and Dynamics

The wind turbine foundation market in Europe is expected to grow from US$ 3,332.63 million in 2021 to US$ 7,749.81 million by 2028; it is estimated to grow at a CAGR of 12.8% from 2021 to 2028. The need to reduce greenhouse gas emissions and boost the amount of renewable energy in the whole energy mix prompted the development of offshore wind farms. Due to the need to reduce carbon emissions, the depletion of fossil fuels, climate change, and so on, there has been a considerable movement toward renewable and green energy in the energy sector. The renewable energy demand will continue to climb because of dropping technology costs, a growing need to reduce CO2 emissions, and rising energy consumption in developing and underdeveloped countries. According to the International Renewable Energy Agency (IRENA), the share of renewables in annual energy generation must climb from 25% to 86% by 2050. To do so, the world will need to invest US$ 110 trillion in the sector by 2050, up from the US$ 95 trillion expected by 2030. As a result, there will be a noticeable shift away from fossil fuels and renewable energy sources. Furthermore, in Europe, there are a large number of offshore windmill projects in operation, accounting for 90% of total power generation. Thus, the growing emphasis on renewable energy worldwide will drive the demand for wind turbine foundations in Europe.

Key Market Segments

Based on type, the gravity segment accounted for the largest share of the Europe wind turbine foundation market in 2020. Based on application, the onshore segment accounted for the largest share of the Europe wind turbine foundation market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Europe wind turbine foundation market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Fugro; Iberdrola, S.A.; BW Ideol; SIF Group; Mammoet; EEW Group; Peikko Group; Bladt Industries A/S; Principle Power, Inc.; and Ramboll Group A/S.

Reasons to buy report

• To understand the Europe wind turbine foundation market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Europe wind turbine foundation market
• Efficiently plan M&A and partnership deals in Europe wind turbine foundation market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Europe wind turbine foundation market
• Obtain market revenue forecast for market by various segments from 2019-2028 in Europe region.

Europe Wind Turbine Foundation Market Segmentation

• Mono-Pile
• Jacket-Pile
• Gravity
• Tripod
• Suction
• Raft
• Pile
• Well Foundation
• Rock and Anchor
• Others

Europe Wind Turbine Foundation Market – By Application

• Onshore
• Offshore

Europe Wind Turbine Foundation Market – By Country

• France
• Germany
• Italy
• Spain
• UK
• Russia
• Poland
• Sweden
• Norway
• Finland
• Rest of Europe

Europe Wind turbine foundation Market – Company Profiles

1. Fugro

• Ramboll Group A/S
• Iberdrola, S.A.
• BW Ideol
• Peikko Group
• EEW Group
• Bladt Industries A/S
• Principle Power, Inc.
• Mammoet
• Sif Group

Europe Wind Turbine Foundation Market Strategic Insights

Europe Wind Turbine Foundation Market Report Highlights

Europe Wind Turbine Foundation Market Country and Regional Insights