Global Wind Turbine Operations and Maintenance Market by Application (Offshore, Onshore) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

Global wind turbine operations and maintenance market was valued at USD 8.08 Billion in 2016. It is projected to grow at 11.1% CAGR between 2017 and 2025. The maintenance and repair of wind turbines is an essential part of any wind energy project. Efficient maintenance reduces the chance of failure and prevents outages during event failure.

The components of turbines include gears, control and electric systems, yaw and pitch systems, blades and pitch systems as well as rotors and generators. Unexpected failures of turbine components can lead to significant downtime, which in turn affects productivity. This makes it more important to have effective monitoring and maintenance done at regular intervals.

The global annual installation capacity by region 2006-2016 (MW).

The global increase in wind turbine capacity has driven the market for operations and maintenance. The key driver of the exponential growth in power generation industry annual installations over the last few years was to reduce environmental impacts. This has led to rapid growth in capacity in North America, Europe and Asia Pacific.

To develop a zero-emission power system, favorable government policies and attractive incentives were put in place. This has fueled an increase in annual capacity over the last few years. Many countries, including France, Germany, India and Japan, are working to reduce their dependence on fossil fuel-based power sources.

Europe's developed countries have been focusing their efforts on market-based schemes like competitive auctions and feed-in premium tariffs. China has supported the industry's growth by implementing favorable policies and plans, such as the mandatory purchase of renewable energy or Five Year Plan to Energy Transition.

These plans have helped to increase China's wind energy consumption by 20% by 2030, which has fueled the construction of new turbines. Japan and India also adopted the feed in tariff policy to encourage investment in renewable energy projects.

The renewable energy market was boosted by supportive policies and initiatives to minimize environmental impact. This resulted in an explosive growth in the annual installation of turbines. Globally, the annual installation capacity grew to 63,634MW in 2015, from 39,031MW in 2010. In 2016, there were more than 80 countries with turbines, of which nine have over 10 GW.

The unprecedented growth of turbine installation was the main driver of the market. The industry will be affected by stagnant global electric consumption over the forecast period.

This market saw technological innovation that led to the development and application of energy-efficient processes across a variety of industries. In developed countries, including the U.S., the electricity demand for the industrial sector has seen a slow increase. The residential sector also saw a slower growth rate than expected.

Due to the optimistic estimates of the reliability and life expectancy of turbines, high operating and maintenance costs were faced by the energy industry. Despite the strong growth of the wind energy market industry players increased their focus to optimize maintenance costs through efficient tracking failure statistics and other strategies.

The industry has been focused on improving operations and maintenance at project sites. Over the last few years, there has been a greater emphasis on cost-effective and reliable condition monitoring techniques. Many companies are implementing cutting-edge technology in order to solve failure problems.

To estimate the long-term average annual costs and downtime of turbines, advanced tools are being developed. These tools help to identify components at risk of failure and take preventative measures to avoid unplanned failures.

Application Insights

The market for global wind turbine operations and maintenance has been divided into two segments: offshore and onshore. In 2016, the largest segment was onshore, accounting for 93% of global revenue. Offshore growth is expected to accelerate at a rapid rate, with a projected CAGR of 15.2% between 2017 and 2025.

Although offshore turbines are more efficient than their onshore counterparts, they also have higher installation costs and therefore, higher operating costs. Due to the remoteness of the offshore sector, which is difficult to access for maintenance and repair, and the high installation costs, the segment's growth will be limited.

Due to the higher cost of off-shore sites, major players like the U.S. and France, Spain, Portugal or Italy, focus on projects onshore for renewable energy generation. Many countries in Latin America and the Asia Pacific as well as the Middle East & Africa rely solely on onshore projects to fulfill their demand.

Europe was the biggest player in the offshore market with 91% of the installed capacity. This includes the UK, Germany and Belgium. Many countries are taking steps to increase their offshore capacity due to higher yield. This includes the deployment of larger turbines to lower overall costs.

Global wind turbine operations market and maintenance market by application 2015 (%)

In 2015, the United States began its first commercial offshore project. China and Japan are also focusing on expanding their offshore capabilities. Moreover, many offshore projects have been approved by European countries like the UK, Germany and Denmark as well as France, Belgium, France and the Netherlands. This will lead to significant growth in the offshore segment over the forecast period.

Regional insights

Europe accounted for 39% of total industry revenues in 2015. It was the largest region for offshore installations, but it also has high operational & maintenance costs. The UK is the largest offshore country in the world, followed by France, Spain, France and Italy.

Asia Pacific will be the dominant player in 2025. This is due to the significant rise in Chinese annual installations. China was the country with the largest annual installations of 23 GW around the world. The country is also expected to increase its offshore capacity which will positively impact the industry's growth.

The market in Japan, South Korea and South East Asian countries will grow exponentially over the forecast period. The government of developing countries has stepped up to support wind farms, a move that is based on reducing the country's environmental footprint. This will likely propel the market in Asia Pacific during the forecast period.

The Middle East and Latin America are expected to experience extraordinary growth in the coming years. South Africa has been a major player in the global wind energy market for the past few years. This trend is expected to continue during the forecast period. South Africa has also planned to increase its wind projects in near future.

Competitive insights

Suzlon Group and Siemens Wind Power GmbH are the key players on this market. These companies are focused on expanding their existing agreements with wind farms and establishing new ones.

Many companies are working to extend the life of turbines. They also aim to reduce the maintenance interval. Companies are enhancing their technical capabilities to provide services in remote areas. These initiatives are expected to have positive effects on industry growth during the forecast period.

The report covers segments

This report forecasts revenue growth and volume at the global, regional and country levels. It also provides analysis of industry trends for each sub-segment from 2014-2025. Grand View Research has divided the market for wind turbine maintenance and operations by region and application.

• Trend Analysis & Application Estimates (Revenue, USD million; 2014-2025)

  • Offshore

  • Offshore

• Regional Estimates and Trend Analysis (Revenue USD Million; 2014-2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • Denmark

    • France

    • Netherlands

    • Poland

    • Portugal

    • Spain

    • Sweden

    • UK

    • Ireland

    • Italy

    • Belgium

  • Asia Pacific

    • Australia

    • China

    • India

    • Japan

    • New Zealand

    • South Korea

  • Central & South America

    • Argentina

    • Brazil

  • MEA

    • South Korea

Up Market Research published a new report titled “Wind Turbine Operations and Maintenance Market research report which is segmented by Application (Offshore, Onshore), By Players/Companies Enercon GmbH, GE Wind Turbine, Gamesa Corporation These companies focus on extending their existing agreement with wind farms along with the establishment of new ones, Siemens Wind Power GmbH, Suzlon Group”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Wind Turbine Operations and Maintenance Market Report Segments:

The market is segmented by Application (Offshore, Onshore).

Wind Turbine Operations and Maintenance Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Wind Turbine Operations and Maintenance Market

Overview of the regional outlook of the Wind Turbine Operations and Maintenance Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Wind Turbine Operations and Maintenance Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Wind Turbine Operations and Maintenance Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Offshore

                2. Onshore

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Wind Turbine Operations and Maintenance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Wind Turbine Operations and Maintenance Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.