The Gravity Segment to Dominate North America Wind Turbine Foundation Market during 2021-2028

According to a new market research study on “North America wind turbine foundation Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Application, and Country,” is expected to reach US$ 1,626.93 million by 2028 from US$ 898.82 million in 2021. The market is estimated to grow at a CAGR of 9.0% from 2021 to 2028. The report provides trends prevailing in the North America wind turbine foundation market along with the drivers and restraints pertaining to the market growth. Increasing deployment of offshore wind farms and rising emphasis on renewable energy are major factors driving the growth of the North America wind turbine foundation market. However, high cost required for wind turbine foundation may hinder the growth of North America wind turbine foundation market.

North America is known for having the highest rate of advanced technology adoption due to favourable government policies that foster innovation and enhance infrastructural abilities. The COVID-19 epidemic has a number of implications for the renewable energy sector in the region. Wind power-generating facilities have reduced activity, including shutting down construction, operations, and maintenance projects at several locations, after the issuing of multiple "stay at home" orders by state governors around the countries. Across the wind energy industry, these quarantine measures and shutdowns are causing furloughs and layoffs of technical, construction, and manufacturing personnel, as well as project demobilizations in many cases. As a result, many solar and wind farms are struggling to keep up with maintenance and operations. Furthermore, the COVID-19 pandemic has made it more difficult for renewable energy producers to get project finance or equity capital. As a result, the COVID-19 had a detrimental influence on the North American wind turbine foundation industry.

The market for North America 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 North America wind turbine foundation market. Based on application, the North America 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 North America wind turbine foundation market is divided into US, Canada and Mexico. In 2020, US held the largest share in North America wind turbine foundation market. Furthermore, in this present scenario of COVID 19 pandemic, the North America wind turbine foundation market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the North America 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; Principle Power, Inc.; and Ramboll Group A/S are some of the leading companies in the North America 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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