Sep 26, 2017
Wind Turbine is the largest upcoming provider of electrical energy globally. More than 400 GW of wind power capacity was added during the 2006–2016 period, which drastically increased opportunity for the Operations and Maintenance (O&M) market in this period. The increasing age of wind turbines and the failure of components such as blades and gearboxes are the major reasons for the increasing wind turbine Operations and Maintenance. The Operations and Maintenance market’s growth is currently restrained by a lack of skilled manpower, and the cost of logistics. However, the increase in the wind power O&M market is leading to an increase in companies providing specialized wind turbine O&M services, which in turn is decreasing the cost of O&M services.
Globally the wind turbine operations and maintenance market consist of the following key countries – US, Canada, Germany, Spain, UK, Denmark, Italy, China, India and Japan. China is the largest wind O&M market in the world and accounted for 30% of the total Operations and Maintenance market size in 2016. It is expected that China will remain in first position with a share of 27.4% by 2025. The US comes second on the list for wind Operations and Maintenance market in the world with a share of 14.6% in 2016, and is also expected to continue in second place in 2025. Germany, the largest European wind Operations and Maintenance market accounted for 14.3% in 2016 and is expected to hold an 11.9% share in 2025. Offshore wind accounted for about 8.2% of the total wind Operations and Maintenance market in 2016, with a market size of US$1.12 Billion. Offshore wind draws higher Operations and Maintenance costs in comparison to onshore wind.
