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

According to a new market research study on “South 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$ 477.68 million by 2028 from US$ 292.03 million in 2021. The market is estimated to grow at a CAGR of 7.3% from 2021 to 2028. The report provides trends prevailing in the South America wind turbine foundation market along with the drivers and restraints pertaining to the market growth. Widescale deployment of offshore wind farms and high focus on renewable energy are major factors driving the growth of the South America wind turbine foundation market. However, high cost involved in wind turbine foundation may hinder the growth of South America wind turbine foundation market.

Brazil has reported the highest number of COVID-19 cases in South America, followed by Ecuador, Chile, Peru, and Argentina. Most of the commercial operations in the region have been shut down to prevent the spread of the disease. Lockdowns imposed in cities have compelled most production plant operators to suspend their operation indefinitely, which has led to the discontinuation in the demand for mechanical components of wind turbine foundation. Therefore, the COVID-19 pandemic is restraining the wind turbine foundation market growth in South America.

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