The top 5 market players in the wind turbine foundation market include Iberdola, Fugro, SIF Group, Smudlers GmbH, and Ramboll. The wind turbine foundation market is highly fragmented due to the occurrence of the huge number of small-scale and medium-scale manufacturers in both developed and developing economies. The top 5 market players are majorly focusing on various organic and inorganic growth strategies to survive in the wind turbine foundation market, such as, innovation of new technologies to offer enhanced product portfolios to the customers, merger and acquisitions, and expansion strategies.
IBERDOLA, FUGRO, SIF GROUP, SMUDLER GMBH, AND RAMBOLL – PROMINENT MARKET PARTICIPANTS IN WIND TURBINE FOUNDATION MARKET
The global wind turbine foundation market is rapidly expanding, owing to the increasing need for energy in both developed and developing countries. In addition, the need for green energy generation and government measures to promote renewable energy sources are propelling the sector forward. The trend for constructing offshore wind turbines is on the rise, owing to the high production and long-term growth of wind farms. In 2020, Europe dominated the wind turbine foundation market, accounting for more than 45% share in the global market share. The region’s large market share can be attributed to the presence of large wind turbine manufacturers and a significant number of onshore wind farm projects. Furthermore, some of the world’s largest wind farm installations are located in the UK, Germany, the Netherlands, Spain, and Italy, among others. Several European governments are also investing in floating substructures or integrated floating wind energy systems for deep waters and using them in various climate conditions. The initiative expands deployment options and strengthens Europe’s position on the global stage.
Various associations governing the wind turbine foundation market include Global Wind Energy Council (GWEC), National Institute of Wind Energy (NIWE), International Renewable Energy Agency (IRENA), American Wind Energy Association (AWEA), The European Wind Energy Association (EWEA), and Indian Wind Energy Association (IWEA). These organization closely monitor the demand for wind energy in respective countries and internationally. The rules and regulations set by the organizations are required to be followed by each and every stakeholder in the wind turbine market. The wind turbine foundation regulations are strictly governed by the organizations mentioned above. The wind turbine foundation market is likely to be propelled forward by decreasing wind turbine prices, as well as quickly increasing wind power installed capacity. Because of technological advancements in this industry, renewable energy has become cost-competitive with other conventional energy sources in recent years. Countries have shifted their priority to supplying inexpensive, reliable, and secure energy as the demand for electricity grows and development improves
Most of the market initiatives were observed in European region, which have a high potential of wind turbine foundation providers. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Region |
| 2021 | Iberdrola, S.A. has commissioned the Herrera II wind complex in Castilla y León. It consists of three farms – Valdesantos, La Huesca, and Orbanejoa – with 63 MW of installed capacity and 14 wind turbines | Europe |
| 2020 | Sif Netherlands B.V., in an association with Smulders Projects Belgium N.V., is going to manufacture all monopiles and transition pieces which involves approximately 260 kton steel for the Dogger Bank A& B Offshore Wind Farm project based in the North Sea off the North East coast of England | Europe |
