Market Introduction
The Asia Pacific 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 has severely impacted Asia Pacific due to wide disease spread; countries in this region are highly populated, leading to the greater risk of infection spread. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies, such as China, India, Australia, and Japan, experiencing inflation. India is the worst-hit country by the pandemic in this region. Despite worries about labor shortages and travel restrictions that limited operations and maintenance, Asia Pacific's energy supply and system operation could fulfill demand reliably during the pandemic. For example, this has enabled hospitals to provide healthcare services and allow employees to work from home to assist businesses in continuing operations and, in general, allowing daily life to go on.
Market Overview and Dynamics
The wind turbine foundation market in Asia Pacific is expected to grow from US$ 2,313.87 million in 2021 to US$ 5,826.00 million by 2028; it is estimated to grow at a CAGR of 14.1% 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. Thus, the growing emphasis on renewable energy will drive the demand for wind turbine foundations.
Key Market Segments
Based on type, the gravity segment accounted for the largest share of the Asia Pacific wind turbine foundation market in 2020. Based on application, the onshore segment accounted for the largest share of the Asia Pacific 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 Asia Pacific 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
Asia Pacific Wind Turbine Foundation Market Segmentation
Asia Pacific Wind Turbine Foundation Market – By Type
Asia Pacific Wind Turbine Foundation Market – By Application
Asia Pacific Wind Turbine Foundation Market – By Country
Asia Pacific Wind turbine foundation Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 2,313.87 Million |
| Market Size by 2028 | US$ 5,826.00 Million |
| CAGR (2021 - 2028) | 14.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Wind Turbine Foundation Market is valued at US$ 2,313.87 Million in 2021, it is projected to reach US$ 5,826.00 Million by 2028.
As per our report Asia Pacific Wind Turbine Foundation Market, the market size is valued at US$ 2,313.87 Million in 2021, projecting it to reach US$ 5,826.00 Million by 2028. This translates to a CAGR of approximately 14.1% during the forecast period.
The Asia Pacific Wind Turbine Foundation Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Wind Turbine Foundation Market report:
The Asia Pacific Wind Turbine Foundation Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Wind Turbine Foundation Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Wind Turbine Foundation Market value chain can benefit from the information contained in a comprehensive market report.
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