USD 11.716 billion
Wind Turbine Operations And Maintenance Market Size, Share, Growth Analysis, By Type(Scheduled, Unscheduled), By Application(Onshore, Offshore), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG10B2014 |
Region:
Global |
Published Date: February, 2024
Pages:
272
|Tables:
61
|Figures:
75
Wind Turbine Operations And Maintenance Market Insights
Wind Turbine Operations And Maintenance Market size was valued at USD 13.22 Billion in 2023 and is poised to grow from USD 14.9 Billion in 2024 to USD 38.15 Billion by 2032, growing at a CAGR of 12.71% during the forecast period (2025-2032).
An essential component of the wind energy industry is wind turbine operation and maintenance. These services help to shorten outages and minimize the failure rate during power outages. In wind turbines, generators, electric systems, sensors, gearboxes, and control systems are prone to malfunction. In the event of any unanticipated failure of any turbine equipment it results in significant downtime and decreased output. Therefore, proper monitoring and maintenance at regular intervals are necessary. Several countries throughout the world are promoting wind energy as an alternative energy source. This is predicted to have a positive effect on wind turbine operations and maintenance market expansion in the upcoming years.
US Wind Turbine Operations And Maintenance Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Scheduled
Fastest Growth
Scheduled
Growth Rate
12.71% CAGR
Global Wind Turbine Operations And Maintenance Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Wind Turbine Operations And Maintenance Market Segmental Analysis
Global wind turbine operations and maintenance market is segmented based on the type, application and region. On basis of type, the market is segmented as scheduled and unscheduled. On the basis of application, the market has been segmented into onshore and offshore. Based on region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Type
On basis of type the wind turbine operations and maintenance market is segmented as scheduled and unscheduled. The scheduled category dominated the market for wind turbine operations and maintenance worldwide, and it is anticipated that it will continue to hold a dominant position during the projected period. These tasks are completed on a regular basis to keep the wind turbines operating efficiently. Regular intervals are used to perform scheduled maintenance procedures. When a wind turbine or one of its components suddenly fails, unscheduled maintenance tasks are completed. For a wind turbine to perform well, several parts such the gearbox, rotor blades, generator, inverter, brake, and tower need to be maintained on a regular basis. Some of the parts that are more prone to failure, they need regular inspection and maintenance including the gearbox assembly, rotor blades, and brakes.
Analysis by Application
On the basis of application, the global wind turbine operations & maintenance market has been segmented into onshore and offshore. Offshore turbines are more efficient than their onshore equivalents, but their higher installation costs translate into higher running expenses. Due to its remote oceanic settings, restricted accessibility for repair and maintenance, and high installation costs, the offshore sector faces a number of difficulties that have an effect on the segment's growth. Due to the higher costs of offshore locations, major players including the U.S., France, Spain, Portugal, Italy, and India concentrate on onshore projects for the generation of renewable energy.
To meet the demand, several nations in Latin America, Asia, and the Middle East & Africa solely rely on onshore projects. Due to the higher yield, several countries have been taking steps to improve their offshore capacity. One such step is the installation of larger turbines, which can lower total costs.
Global Wind Turbine Operations And Maintenance Market By Type
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Wind Turbine Operations And Maintenance Market Regional Insights
Asia-Pacific dominates the wind turbine operations and maintenance market. It has high costs for operations and maintenance that dominated the market for offshore installations. Globally, the UK has highest offshore capacity.
Other significant European contributors include Germany, Spain, France, Italy, and Denmark. By 2030, it is predicted that Asia Pacific will pose as a market leader, accounting for over 49% of total revenues, thanks to China's significant increase in annual installations. With production of 23GW energy, China accounts for the highest position for annual installation worldwide. Additionally, the country is anticipated to expand its offshore capacity, favourably affecting the expansion of the wind turbine operations and maintenance market. Market in Japan, South Korea, and South East Asian countries is expected to grow at an exponential rate over the forecast period.
Global Wind Turbine Operations And Maintenance Market By Region
- Largest
- Fastest
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Wind Turbine Operations And Maintenance Market Dynamics
Wind Turbine Operations And Maintenance Market Driver
Need for Reliable and Economical Energy Solutions to Boost the Market Growth
- The energy sector is still looking for reliable, cost-effective solutions. For a foreseeable future situation or times of increased energy demand, several countries have started to invest in the storage and distribution of renewable energy. With the growing importance of renewable energy sources, researchers are taking great efforts to create advance technology in this field. Additionally, the recent drop in installation costs has given the wind turbine service market a chance to grow.
- The industry that produces energy is still looking for trustworthy, economical solutions. Many nations have begun to invest in the storage of renewable energy for foreseeable future situations or periods of increased energy demand. The usefulness of renewable energy sources has also been recognized by the nations, and as a result, researchers have worked relentlessly to enhance technology in these regions. Additionally, the fact that installation prices have declined in recent years has given the wind turbine service market a chance to expand.
Wind Turbine Operations And Maintenance Market Restraint
Fluctuations in Price of Raw Material and Maintenance Costs to Create Market Challenges
- Steel is the key element in the construction of wind turbines. The terms and length of the contract with the steel producers, can last anywhere from one to several years, completely dictate the price of raw materials. Additionally, the price of the finished good fluctuates because of the fluctuating steel prices.
- The price of the final product increases as a result of the rising cost of raw materials for production. Additionally, because of this variability, the leading wind turbine operations and maintenance market participants' financial performance may be negatively impacted, which hinders the market ability to grow throughout the projected period for wind turbine operations and maintenance.
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Wind Turbine Operations And Maintenance Market Competitive Landscape
Global wind turbine operations and maintenance market is competitive and somewhat fragmented. To maintain a competitive edge, the major wind turbine operations and maintenance participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major wind turbine operations and maintenance market players are also continually concentrating on R&D.
Wind Turbine Operations And Maintenance Market Top Player's Company Profiles
- Vestas Wind Systems A/S
- General Electric Company
- Siemens Gamesa Renewable Energy SA
- Suzlon Energy Limited
- Nordex SE
- Enercon GmbH
- Envision Energy Limited
- Xinjiang Goldwind Science & Technology Co., Ltd.
- MHI Vestas Offshore Wind A/S
- NextEra Energy Resources, LLC
- Orsted A/S
- Ramboll Group A/S
- Naturgy Energy Group, S.A.
- Ingeteam S.A.
- ABB Ltd.
- UpWind Solutions, Inc.
- EDF Energies Nouvelles SA
- E.ON SE
- RES Group
- Engie SA
Recent Developments
- In May 2022, GE launched a new digital product portfolio called Lifespan, which aims to enable customers to optimise renewable asset performance and operations across their fleet.
- In May 2022, Germany's Nordex SE (ETR:NDX1) is installing the first units of its new N163/6.X 6-MW class wind turbine model at wind farms sites in the Netherlands ahead of the IEC type certification process. Soon nine months after launching the 6-MW variant in the Delta4000 series, the company installed 15 of these machines at the Zeebiestocht and Olsterwind wind farms in the Dutch province of Flevoland
Wind Turbine Operations And Maintenance Key Market Trends
- Technological Advances: The Original Equipment Manufacturers (OEM) category, which currently dominates the wind turbine operations and maintenance market and is anticipated to grow throughout the projection period, has had a significant impact on demand for wind turbine service. Due to the introduction of technological advancements, the manufacturing of turbine components has expanded, and OEM market value has achieved the greatest market share. This factor has raised the market value for wind turbine services.
- Emergence of New Opportunities: A rise in the number of offshore wind farms deployed globally has also given participants the new opportunities in the wind turbine maintenance industry. This trend can be seen in developed markets, such as North America Europe, and China, where the installation of offshore turbine systems has accelerated in recent years due to strong economic growth and onerous environmental regulations placed on industrial developments.
Wind Turbine Operations And Maintenance Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the region of Asia-Pacific dominates the Wind turbine operations and maintenance market. Nations have recognised the value of renewable energy sources, and as a result, researchers have worked hard to improve technology in this area. Furthermore, the recent drop in installation costs has given the wind turbine service market an opportunity to grow. On the basis of application, Offshore turbines are more efficient than their onshore equivalents, but their higher installation costs translate into higher running expenses.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 11.716 billion |
| Market size value in 2031 | USD 33.85 billion |
| Growth Rate | 12.71% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Wind Turbine Operations And Maintenance Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Wind Turbine Operations And Maintenance Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Wind Turbine Operations And Maintenance Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Wind Turbine Operations And Maintenance Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Wind Turbine Operations And Maintenance Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Wind Turbine Operations And Maintenance Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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