The
global wind energy foundation market is expected to reach
USD 241.14 billion by 2024, according to a new report by Grand View Research,
Inc. Increasing concerns over depleting petroleum resources has resulted in
influencing growing demand for renewable energy. Increasing global population
and industrialization have become major factors for moving towards
non-conventional resources.
Wind
energy is gaining momentum over the past few years on account of major capacity
additions owing to the declining prices. Recently there have been dramatic
reductions in costs on account of increasing research and development. Growing
demand for expansion of electricity generation and access is expected to be a
major driver for the industry over the forecast period.
 |
| Global wind energy consumption estimates and forecast, 1990 - 2030 (Quadrillion Btu) |
Climate
change and global warming are major factors responsible for the increasing focus
on wind power and harnessing this power for the future generations. The demand
for wind energy foundation was USD 73.46 billion in 2015.Approximately 100
countries have managed to build several commercial wind farms.
Strong
government initiatives and subsidies for the development of renewable energy is
expected to be crucial factor for growth of the industry over the forecast
period. The Paris agreement of 2015 was a major step in moving towards
harnessing sustainable and clean energy.
Browse full
research report on Wind Energy Foundation Market: www.grandviewresearch.com/industry-analysis/wind-energy-foundation-market
Further
Key Findings From the Study Suggest:
- Offshore wind energy foundation segment is
expected to witness revenue growth at a CAGR of 14.9% from 2016 to 2024.
Offshore wind turbines have large power capacities and are now being
installed even in deep water.
- In the offshore category, mono-pile foundation
accounted for 35.6% of the global market share in 2015 and it was the
largest in offshore category. Increasing need to secure energy security
and growing concerns about onshore wind farms is a major factor propelling
expansion.
- Onshore wind energy foundation market was
valued at USD 52.01 billion. The onshore category has dominated the
foundation market over the past several decades owing to reasonable cost
for installation.
- Asia Pacific market was valued at USD 27.45
billion in 2015 and will witness significant gains over the forecast
period on account of continuous increase in installation capacity in
countries such as China, India and Japan.
- North America is a major market for foundations
owing to the availability of best wind resources coupled with low prices
as compared to other countries. Countries such as Brazil will open present
new opportunities for propelling growth over the forecast period.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/renewable-energy
Grand View Research has segmented the global wind energy foundation
market by site location and region:
Site
Location outlook (Revenue, USD Million, 2013 - 2024)
- Onshore
- Mono-Pile
- Jacket-Pile
- Gravity
- Suction
- Tripod
- Offshore
- Raft
- Pile
- Well
Foundation
- Others
Regional
Outlook (Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- India
- Japan
- Latin
America
- Brazil
- Middle
East & Africa (MEA)
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-wind-energy-foundation-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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