The Gravity Segment to Dominate Middle East and Africa Wind Turbine Foundation Market during 2021-2028

According to a new market research study on “Middle East and Africa wind turbine foundation market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Application, and Country,” is expected to reach US$ 188.52 million by 2028 from US$ 130.00 million in 2021. The market is estimated to grow at a CAGR of 5.5% from 2021 to 2028. The report provides trends prevailing in the Middle East and Africa wind turbine foundation market along with the drivers and restraints pertaining to the market growth. Rising deployment of offshore wind farms and rising emphasis on renewable energy are major factors driving the growth of the Middle East and Africa wind turbine foundation market. However, high cost required for wind turbine foundation may hinder the growth of Middle East and Africa wind turbine foundation market.

According to the International Energy Agency, the prolonged COVID-19 issue is causing the most significant decrease in MENA energy investment in history. The lockdown has caused supply chain interruptions, personnel shortages, and project finance challenges, all of which have impacted energy projects. Countries in the Middle East and others rely heavily on China, which generates more than half of the world's renewable energy technologies. The bulk of important manufacturers of renewable solar technology are based in China. As a result of the crisis, the Middle East and Africa supply chain network, including renewable energy, has been badly affected. Therefore, the COVID-19 pandemic limits the demand development of wind turbine foundation in the Middle East and Africa.

The market for Middle East and Africa 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 Middle East and Africa wind turbine foundation market. Based on application, the Middle East and Africa 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 Middle East and Africa wind turbine foundation market is divided into Saudi Arabia, South Africa, Egypt, Algeria, Morocco and rest of Middle East and Africa. In 2020, Egypt held the largest share in Middle East and Africa wind turbine foundation market. Furthermore, in this present scenario of COVID 19 pandemic, the Middle East and Africa wind turbine foundation market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Middle East and Africa 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; and Ramboll Group A/S are some of the leading companies in the Middle East and Africa 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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