Wind Turbine Operations and Maintenance Market: Current Analysis and Forecast (2021-2027)

$3999$7577

Emphasis on Type (Offshore and Onshore); and Region and Country

Pages:

211

Table:

32

Figure:

107

Report ID:

UMEP21698

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Wind Turbine Operations and Maintenance Market
Wind Turbine Operations and Maintenance Market

SPEAK TO ANALYST

Factors that are driving the market size of offshore wind such as surging government investment in renewable energy across various regions coupled with benefitting from rapid technology improvements, supportive government policies and continuous cost reductions are expected to escalate the wind turbines deployment. For instance: In May 2021, GE Renewable Energy announced that it has finalized the turbine supply and service and warranty contracts for the third and final phases of the dogger bank offshore wind farm. Similarly, In May 2020, Siemens Gamesa launched SG 14-222 DD offshore wind turbine with nameplate capacity of 14 MW which can reach 15 MW with Power Boost. Its 222-meter rotor diameter uses massive 108-meter long B108 blades.

Therefore, repairing and maintenance of these turbines is an integral part of the wind energy project. Efficient maintenance helps in reducing failure rate and thus avoids outage time at the time of event failure. All the major wind turbine manufacturers offer comprehensive O&M and adaptable service features, thus ensuring the continued operation of their customers’ assets.

The outbreak of Coronavirus pandemic had adversely impacted the world economy. The government took various measure to stop the spread of virus by implementing lockdown has halt all the industrial, commercial and other ongoing activities across the world. The economies of the countries worldwide had been negatively affected and slowed down the growth as well. Moreover, along with global pandemic condition, world has faced drastic climate changes as well. Hence, escalated the strategies and development plans of renewable resources that helps in achieving zero net emission goals in the coming years. In 2020, some major regions worldwide had seen positive growth of offshore wind power turbine. For instance, according to Global Wind Energy Council, Europe had 220 GW of installed wind power capacity: 194 GW onshore and 25 GW offshore. In which Netherlands installed the most wind capacity in 2020, most of it offshore wind.

Nordex SE, Enercon GmbH, Siemens Gamesa Renewable Energy SA, GE Renewable Energy, Xinjiang Goldwind Science & Technology Co. Ltd., Vestas Wind Systems A/S, Suzlon Energy Ltd., ABB Ltd., Mistras Group, and Integrated Power Services LLC are some of the prominent players operating in the Global Wind Turbine Operations and Maintenance Market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

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Insights Presented in the Report

“Amongst Type, Offshore segment to witness significant growth during the forecast period”

Based on type, offshore category to witness higher growth rate during the forecast period. It is mainly owing to the rising scope for relishing the projects in deep-water, where the high wind speed creates a much favorable environment for operation, thereby driving the offshore wind energy market. However, given the practical constraints imposed by offshore operations and the relatively high costs. The effects of maintenance on the life cycle of an offshore wind farm are highly complex and uncertain. The selection of maintenance strategies influences the overall efficiency, profit margin, safety, and sustainability of offshore wind farms. Operations and maintenance of offshore wind turbines play an important role in the development of offshore wind farms. For instance, GE Renewable Energy provides Corrective, Predictive, and Preventive offshore wind maintenance services, as well as offshore wind upgrades and retrofits. GE operates a global network of local offshore wind power service centers that offer a full range of packages and services to enhance the availability of customers’ offshore turbine equipment, improve its energy generation and optimize the entire lifecycle of your system components.

“Europe represents one of the largest markets of Global Wind Turbine Operations and Maintenance Market”

Europe has captured dominant share in the Wind Turbine O&M Market in the recent years and expected to grow at influential rate in the projected year as well. Some of the major drivers for the growth of the wind industry in Europe are major developments in technology, which led to a drop in the production cost of offshore wind farms, making them comparable to the onshore wind farms, in some cases, in terms of economic performance. Thus, increased installation of wind turbines would further result in increasing requirement for their maintenance and smooth operations.

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Renewables provide nearly a third of UK power in the UK and half of this is generated by from wind energy. Generation from onshore and offshore wind in the UK are central to the shift to an energy system fit for the future. Onshore wind already generates clean power to meet the annual needs of more than 7.25 million homes a year and produced 9% of the UK’s power needs in 2017. Overall, the UK has installed over 12 gigawatts of onshore wind capacity, which supports jobs and local economic growth. The cumulative investment impact of the UK’s 1,500 operational onshore wind farms is over £35 billion, demonstrating the significant contribution which onshore wind can make to delivering low-cost, low-carbon energy that pays back to consumers. Furthermore, the UK Government has set the industry a target of reaching 40 GW by 2030, which represents a near-quadrupling of offshore wind capacity over the course of this decade. The market for Offshore Wind Turbines in the UK is boosting due to the presence of well-established players in this sector including Vestas, Siemens Gamesa & other smaller companies. These companies also offer operational and maintenance services.

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  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

 

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1.1.Market Definitions
1.2.Limitation
1.3.Stakeholders
1.4.Currency used in Report
2.1.Research Process of the Wind Turbine Operations and Maintenance Market
2.2.Research Methodology of the Wind Turbine Operations and Maintenance Market
2.3.Forecasting Method
2.4.Respondent Profile
2.5.Main Objective of the Wind Turbine Operations and Maintenance Market Study
3MARKET SYNOPSIS

 

4EXECUTIVE SUMMARY

 

5IMPACT OF COVID-19 ON THE WIND TURBINE OPERATIONS AND MAINTENANCE MARKET
6WIND TURBINE OPERATIONS AND MAINTENANCE MARKET REVENUE (USD BN), 2019-2027F
7.1.Offshore
7.2.Onshore
8.1.North America
 8.1.1.US
 8.1.2.Canada
 8.1.3.Rest of North America
8.2.Europe 
 8.2.1.Germany
 8.2.2.Spain
 8.2.3.United Kingdom
 8.2.4.France
 8.2.5.Italy
 8.2.6.Rest of Europe
8.3.Asia-Pacific
 8.3.1.China
 8.3.2.India
 8.3.3.Australia
 8.3.4.Japan
 8.3.5.Rest of Asia-Pacific
8.4.Rest of World
9.1.Market Drivers
9.2.Market Challenges
9.3.Impact Analysis
10WIND TURBINE OPERATIONS AND MAINTENANCE MARKET OPPORTUNITIES
11WIND TURBINE OPERATIONS AND MAINTENANCE MARKET TRENDS
12POLICY AND REGULATORY FRAMEWORK
13VALUE CHAIN ANALYSIS
14.1.Demand Side Analysis
14.2.Supply Side Analysis
15.1.Porter’s Five Forces Analysis
 15.1.1.Bargaining power of Supplier
 15.1.2.Bargaining power of Buyer
 15.1.3.Industry Rivalry
 15.1.4.Availability of Substitute
 15.1.5.Threat of New Entrants
16.1.Nordex SE
16.2.Enercon GmbH
16.3.Siemens Gamesa Renewable Energy SA
16.4.GE Renewable Energy
16.5.Xinjiang Goldwind Science & Technology Co. Ltd.
16.6.Vestas Wind Systems A/S
16.7.Suzlon Energy Ltd
16.8.ABB Ltd
16.9.Mistras Group
16.10.Integrated Power Services LLC
17DISCLAIMER

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global Wind Turbine Operations and Maintenance Market were the three major steps undertaken to create and analyze the adoption of offshore wind system in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Wind Turbine Operations and Maintenance Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the global Wind Turbine Operations and Maintenance Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the global Wind Turbine Operations and Maintenance Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as type, component, location, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of global Wind Turbine Operations and Maintenance Market. Further, we conducted factor analysis using dependent and independent variables such as increasing deployment type of offshore wind and increasing adoption of different type of offshore wind material. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the global Wind Turbine Operations and Maintenance Market sector across the globe.


Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Wind Turbine Operations and Maintenance Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of global Wind Turbine Operations and Maintenance Market across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the global Wind Turbine Operations and Maintenance Market in terms of type, component and location. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Wind Turbine Operations and Maintenance Market
Wind Turbine Operations and Maintenance Market

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Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the global Wind Turbine Operations and Maintenance Market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the global Wind Turbine Operations and Maintenance Market.

The main objective of the Global Wind Turbine Operations and Maintenance Market Study

The current & future market trends of global Wind Turbine Operations and Maintenance Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of global Wind Turbine Operations and Maintenance Market in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type, component, and location
  • Define and analysis of the regulatory framework for the global Wind Turbine Operations and Maintenance Market industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the global Wind Turbine Operations and Maintenance Market for the major region
  • Major regions studied in the report include Asia Pacific, Europe, North America and Rest of the world.
  • Company profiles of the global Wind Turbine Operations and Maintenance Market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry

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