Report : Europe Wind Turbine Foundation Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Mono-Pile, Jacket-Pile, Gravity, Tripod, Suction, Raft, Pile, Well Foundation, Rock and Anchor, and Others) and Application (Onshore and Offshore)
The Onshore Segment to Dominate Europe Wind Turbine Foundation Market during 2021-2028
According to a new market research study on “Europe wind turbine foundation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Application, and Country,” is expected to reach US$ 7,749.81 million by 2028 from US$ 3,332.63 million in 2021. The market is estimated to grow at a CAGR of 12.8% from 2021 to 2028. The report provides trends prevailing in the Europe wind turbine foundation market along with the drivers and restraints pertaining to the market growth. Incrementing deployment of offshore wind farms and rising focus on renewable energy are major factors driving the growth of the Europe wind turbine foundation market. However, requirement of huge amounts of money for wind turbine foundation may hinder the growth of Europe wind turbine foundation market.
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.
The market for Europe wind turbine foundation is segmented into type, application, and country. Based on type, the market is segmented into mono-pile, jacket-pile, gravity, tripod, suction, raft, pile, well foundation, rock and anchor, and others. In 2020, the gravity segment held the largest share in Europe wind turbine foundation market. Based on application, the Europe wind turbine foundation market is divided into onshore, and offshore. The offshore segment is expected to be the fastest growing segment over the forecast period. Based on country, the Europe wind turbine foundation market is divided into France, Germany, Italy, Spain, UK, Russia, Poland, Sweden, Norway, Finland and rest of Europe. In 2020, rest of Europe held the largest share in Europe wind turbine foundation market. Furthermore, in this present scenario of COVID 19 pandemic, the Europe wind turbine foundation market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Europe countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for wind turbine foundation.
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 are some of the leading companies in the Europe wind turbine foundation market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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