9 April 2020: The wind energy foundation market has seen a substantial growth due to rising concerns regarding the need to increase the usage of clean energy resources boosting the growth of the market. Foundations are concrete blocks known as footings that are placed under wind turbines that supports the structure. In an onshore wind energy foundation project, the foundation is constructed under challenging conditions. These wind energy installations have witnessed a rise in the number of installations due to its several advantages. Wind energy is a clean fuel source and offers many advantages, which explains why it’s the fastest growing energy source in the world. Wind turbines do not produce atmospheric emissions, do not cause greenhouse gasses, or result in acid rain. Winds are caused by the heating of the atmosphere due to the sun and the energy produced can be harnessed forever to generate power.
Increasing population, depleting fossil fuel, and rapid industrialization have prompted governments, international entities, and manufacturers to invest in renewable energy resources. The demand for wind energy foundation is expected to increase as a result of growing world economy. This is due to surge in global economic activity and higher living standards. New emphasis on low carbon fuels along with stringent environment laws provide a major boost for the wind energy foundation industry.
Due to a surge in wind energy foundation installation capacity over growing environmental concerns, renewed efforts are aimed at reducing the harmful effects of the greenhouse gases. This has been a major factor as governments all around the world are actively supporting and funding initiatives to save and improve the energy resulting in propelling growth of the wind energy foundation industry over the forecast period.
Growth of Off-Shore Segment Boosts Power Grid Installations
Onshore accounted for the largest market segment in terms of revenue in 2015 whereas offshore segment is expected to be the fastest growing segment over the forecast period. This is due to increasing offshore investments coupled with technological innovations. This has helped in building offshore facilities as leading companies are keen on investing in order to expand capability in building offshore installations. Offshore segment accounts for marginal amount of the global electricity generation. However, various factors such as policy support, maturing supply chain, and technology advancements are turning offshore activities an increasingly viable option for renewables-based electricity generation.
The offshore category is segmented into mono-pile, suction, jacket–pile, gravity, and tripod. Offshore wind energy foundation or wind power is utilization of wind farms that are usually constructed off the shore or on the coastal line to generate electricity by harvesting wind energy. Jacket-pile is expected to be the fastest growing segment and it is used in deep water due to its light weight characteristics and easy to install properties. It has been used in seabed structures and several initiatives and projects in Europe and is opening new opportunities for mono-pile wind energy foundation in Europe. Mono-piles structures are difficult to transport as these are quite heavy. This is a challenge and may act as a major restraint for mono-pile market.
Market Insights
The market has very few companies and is a niche market having various range of services that cater to the wind energy foundation industry. Companies such as Fugro Renewable Services and Offshore Wind Power Systems of Texas LLC are providing geotechnical services and are engaged in offshore wind farms. Their activities include assessment and environment impact management, subsea cabling, sea bed geotechnical service, design, and foundation assessment.
The industry players are spread across the value chain. There are a few players who provide end to end solutions and others who work in building foundations while few offer site survey to operate the wind farm.
Key players of the wind energy foundation market include SWAY AS, Blue Owec Tower AS, MT Højgaard., Suzlon Group., H Engineering BV, Ramboll Group, Offshore Wind Power Systems of Texas LLC, and Bladt Industries A/S.
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