Wind Turbine Operations & Maintenance Market - (By Application- Offshore, Onshore)- Global Industry Size, Share, Trends, and Forecast, 2018-2026

Introduction

Wind turbine operations and maintenance is the services of maintaining the smooth working of the wind turbines. It is one of the most prominent segment and business having a huge opportunity in the near future. During last few years, increase in attention toward renewable and nonconventional source of energy has led to increased in the demand for the various maintenance services. Wind turbines can generate a huge amount of electricity, at low cost compare to other sources. However, to meet this it should be maintained and operated properly. In near future the demand for these services will increase significantly.

Report coverage

Market Dynamics

The wind turbine operations and maintenance market is driven by increasing investment in offshore wind turbines, increasing adoption of the renewable sources of energy, and increasing demand for the electricity. Growing installations and an increasing number of aging turbines across the globe has increased the demand for the maintenance services and ultimately driven the growth of the market. The rising requirement to lower the carbon emissions and growing preference for renewable power are some of the other factors which are further driving the growth of the market. Additionally, increasing government support and rising number of maintenance services agencies have supported the growth of the market. Nevertheless, population is increasing exponentially and which is expected to grow more in future, ultimately increase the demand for the power and fuel the growth of the market.

However, high cost of the wind turbines and lack of availability for expect people for maintenance is the major factor slowing the growth of the market.

Market Classification and Overview

The global wind turbine operations and maintenance market is segmented into technology and component.

On the basis of application, the market is segmented into Offshore and Onshore.

Regional Overview

Geographically, the global wind turbine operations and maintenance is bifurcated into four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East &Africa (LAMEA). North America is expected to be dominate the global market. The North America market is majorly driven increasing demand for the various sources of the energy, rising spending on the alternative source of energy and huge awareness among the various benefits of proper maintenance of the wind turbine. In 2016, the U.S. wind energy industry has installed over 74,000 megawatts of wind projects which has increased the demand for the maintenance services. Furthermore, in the next two decades, the U.S. will require more than 100,000 additional wind turbines which will only meet the demand by 20% of the nation’s electricity. Europe is expected to hold the major share during the forecast period owing to growing investments in installation of offshore wind farms, increasing installation of wind farms, and aging of older wind farms. Asia Pacific is expected to account for the second largest market owing to the increasing demand for the energy to meet the demand of such a huge population, increasing government support and increasing demands for wind turbines. Additionally, LAMEA is estimated to have the steady growth in near future.

Market Participants

The wind turbine operations and maintenance market comprises of some of the major players such as GE Wind Turbine, Siemens Wind Power GmbH, Enercon GmbH, Suzlon Group, and Gamesa Corporation

Market Segmentation

Market By Application

• Offshore

• Onshore

Market By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA