Wind Energy Foundation Market Size, Share & Trends Analysis Report By Location {Offshore By Type (Mono-pile, Jacket-pile, Gravity, Suction, Tripod), Onshore By Type (Raft, Pile, Well Foundation)}, By Region, And Segment Forecasts, 2018 To 2024

Industry Insights

The global wind energy foundation market size was valued at USD 73.4 billion in 2015. Rising demand for clean energy resources is expected to provide a major boost for the wind power sector over the forecast period. The wind power sector has witnessed significant growth over the past few years owing to the rise in the number of installations.

Depleting fossil fuel reserves, rapid industrialization and increasing population have prompted governments and manufacturers to look towards renewable energy resources. Growing environmental concerns such as the release of greenhouse gas emission have resulted in a shift of focus towards non-conventional resources. Global warming and climate change have led to several governments focus on investing in building, sustainable energy resources.

Wind energy foundation is a key component of the wind turbine, which are responsible for withstanding load in all weather conditions. Several manufacturers have increased capacities in order to increase their power generation capabilities which have led to significant rise in the demand for various wind energy foundation structures.

The development of large turbine sizes has resulted in propelling the demand for offshore foundations such as mono-piles and jackets. Mono-pile is expected to dominate the offshore segment on account of its ease of installation and ability to remain stable. However, jacket foundations are expected to be the fastest-growing segment in the offshore sector as the wind farms keep moving towards deep waters and capacity of the turbine increases.

Declining prices across the regions for wind turbines coupled with rapidly growing installation capacities for wind power is expected to be the propelling factor for the industry. This renewable energy has become cost competitive over the past few years with other conventional sources of energy owing to the technological innovation in this industry.

Growing need to expand electricity generation and improve development has resulted in countries to focus on producing affordable, reliable, and secure energy. This will help in the overall expansion of the industry over the forecast period.

Site Location insights

Onshore was the largest segment in 2015, accounting for 70.7% of the global revenue share. In the last decade, there has been a significant growth in the number of commercial onshore wind farms. In North America, there are several commercial small capacity farms, which have prompted towards the expansion of the industry.

The growing awareness towards the benefits of renewable energy and the abundance in availability has made a positive impact on the overall development of the industry in the past few years.

The offshore segment will be the fastest-growing segment over the forecast period on account of increasing offshore installations coupled with technological innovations, which have helped in building offshore facilities. Several companies in this industry are investing in building offshore installations in order to expand capability and access to electricity.

Onshore category is segmented into the raft, pile, well foundation, and others. The raft is the largest segment in the onshore category and accounts for 39.4% of the global revenue share. It is also expected to be the fastest-growing segment over the forecast period. It is used in different structures, and its use depends on shapes and factors such as turbine capacity, type of tower, and wind class.

The offshore sector is expected to witness the fastest growing segment on account of the increasing need to build large turbine sizes and capacity. The offshore wind energy sector is yet to realize its full potential. Presently the onshore sector is the largest segment as the smaller wind farms are easy to build and the cost of installation is not very high.

The offshore category is segmented into mono-pile, jacket –pile, gravity, suction, and tripod. Jacket-pile is expected to be the fastest-growing segment at a CAGR of 15.8% over the forecast period. It is specially used in deep water technology on account of being lightweight and easy for installation. Mono-pile is the largest segment in this category and are used in several ongoing projects and seabed structures for sustainable energy production in Europe and has opened up new avenues for mono-pile foundations in Europe.

Regional insights

Asia Pacific was the largest market accounting for 37.3% of the global revenue in 2015. Growing demand for clean energy in emerging economies of China and India and the expansion of the energy sector in these countries will have a positive impact on the overall industry.

Europe was the second-largest market accounting for 34.4% of the global revenue in 2015. Countries such as Finland, Poland and Norway have increased their installed capacity over the past few years, and the governments are aiming to provide electricity to the whole country through wind power. This will have a positive impact on the overall development of wind power in the region over the forecast period.

North America is an essential region for the growth of the wind energy foundation market on account of increasing focus on generating electricity through renewable energy sources. Government support for wind energy in terms of research and development, providing subsidies, and focusing on harnessing wind power by building innovative foundation designs structures is expected to play a crucial role in augmenting the market over the forecast period.

Wind energy foundation market share insights

The industry players are spread across the value chain of the energy market. There are a few players who work only in building foundations while few players provide end to end solution from site survey to operating the wind farm. Various companies are focusing on research & development in order to improve foundation design and geotechnical services which will play an important role in propelling growth over the forecast period.

Key players in this industry include Ramboll Group, Owec Tower AS, MT Højgaard., Bladt Industries A/S, Suzlon Group., SWAY AS, Blue H Engineering BV, and Offshore Wind Power Systems of Texas LLC.

The companies are expected to increase their installation capacity over the forecast period owing to declining prices and increasing technology. Companies are expected to be integrated across the value chain in order gain a competitive edge in the industry.

Report Scope

Segments covered in the report

This report forecasts revenue and revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2013 to 2024. For this study, Grand View Research has segmented the global wind energy foundation market on the basis of site location, and region.

• Site Location Outlook (Revenue, USD Million, 2013 - 2024)

  • Onshore

    • Mono-Pile

    • Jacket-Pile

    • Gravity

    • Tripod

    • Suction

  • Offshore

    • Raft

    • Pile

    • Well Foundation

    • Others

• Regional Outlook (Revenue, USD Million, 2013 - 2024)

  • North America

    • The U.S.

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

  • Middle East & Africa

    • Brazil