|03-29-2018 04:03 PM CET - Industry, Real Estate & Construction||
Global Wind Turbine Operations and Maintenance Market: Industry Development Scenario and Forecast to 2023
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Market Research Reports Search Engine (MRRSE) has been acting as an impressive data source when it comes to evaluating various industrial verticals. The research report titled “Wind Turbine Operations and Maintenance Market” offers a clear insight about the "Energy" assessed over the global platform. This analysis proves beneficial for readers & new investors who are aiming to enter the market for “Energy “in the near future.
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Wind Turbine Operations and Maintenance Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 - 2023. The report defines and segments the wind turbine O&M market, providing analysis and forecasts of the global revenue. According to the report, the global wind turbine O&M market stood at US$9.3 bn in 2014 and is likely to reach US$20.6 bn by 2023, expanding at a CAGR of 8.8% between 2015 and 2023.
Wind turbine O&M services include operations, maintenance, asset administration, remote monitoring, and repair of wind turbines installed at wind farms. Wind turbine O&M services can be scheduled maintenance services or unscheduled maintenance services. Scheduled maintenance services are carried out at regular intervals. Unscheduled maintenance services are carried out in event of sudden breakdown of a wind turbine or its components. Different components of a wind turbine such as gearbox, rotor blade, generator, inverter, brake, and tower require regular maintenance to operate efficiently. Gearbox assembly, rotor blades, and brakes are some of the components which are more susceptible to breakdown and require monitoring and maintenance at regular intervals.
The global wind turbine O&M market has been segmented on the basis of application into onshore wind turbine O&M and offshore wind turbine O&M. Onshore wind turbine O&M was the largest application segment of the global wind turbine O&M market, accounting for more than 90% of the market share in 2014. However, demand for offshore wind turbine O&M services has been increasing owing to rising number of offshore wind farms and the complexity involved in servicing offshore wind turbines. Increasing number of aging wind turbines, and rising number of gearbox failures and generator assembly failures have augmented the global wind turbine O&M market. Additionally, increased presence of financial institutions and private investors as owners of wind farms has boosted the demand for wind turbine O&M services. Moreover, growing share of offshore turbines in the wind energy mix has also boosted the demand for wind turbine O&M services. Increased cost of logistics and lack of skilled workforce are anticipated to hamper the global wind turbine O&M market in the near future.
In terms of geography, the global market for wind turbine O&M has been segmented into North America, Europe, Asia Pacific, and Rest of World (RoW). Europe accounted for around 40% of the global wind turbine O&M market share in 2014. However, the wind turbine O&M market in RoW is anticipated to grow at the fastest rate during the forecast period. Asia Pacific is anticipated to be the second-fastest growing market for wind turbine O&M during the forecast period. Some of the leading companies in the global wind turbine O&M market include Enercon GmbH, Gamesa Corporación Tecnológica, GE Wind Energy, Nordex SE, Xinjiang Goldwind Science & Technology Co. Ltd., Vestas Wind Systems A/S, Siemens Wind Power GmbH, Suzlon Group, Guodian United Power Technology Company Ltd., and UpWind Solutions Inc.
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The wind turbine O&M market was segmented on the basis of application (onshore and offshore). Some of the key players in the global wind turbine O&M market are Gamesa Corporación Tecnológica, Enercon GmbH, GE Wind Turbine, Nordex SE, Xinjiang Goldwind Science & Technologies, Co. Ltd., Vestas Wind Systems A/S, Siemens Wind Power GmbH, Suzlon Group, Guodian United Power Technology Company Ltd., and Upwind Solutions, Inc.
Wind Turbine Operation and Maintenance Market: By Application
Onshore Wind Turbine Operation and Maintenance Market: By Region
Rest of Europe
Rest of Asia Pacific
Rest of the World
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