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Wind energy is a form of solar energy used to generate electric power. Wind turbines transform the kinetic energy in the wind into the mechanical power. This mechanical power is then converted into electricity with the help of a generator. The uneven heating of atmosphere by the sun, variations in the earths surface, and rotation of the earth leads to the generation of winds. In addition, mountain ranges, water bodies, and forests influence the flow patterns of winds. Factors affecting the amount of energy created by a wind turbine are wind speed, density of air flowing, and cleared area.
The demand for wind energy technology is expected to rise globally owing to various factors such as growth in demand for expansion of electricity generation and access. Apart from the above factors, production capacity additions, decline in prices, and increase in R&D drive the wind energy foundation market. However, climatic changes and global warming restrain the growth of the market. Moreover, government initiatives, and subsidies provided globally is expected to open new opportunities in the market.
The global wind energy foundation market is segmented based on the foundation type. Monopile, gravity based structure (GBS), space frame-tripod, space frame-jacket, and space frame tri-pile are the sub segments of foundation type. Based on geography, the market is analyzed into North America, Europe, Asia-Pacific, and LAMEA. Amongst these, the Asia-Pacific is largest of all markets due to growth in needs for clean energy in economies such as China and India where the expansion of this industry has a positive impact.
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