San Francisco, 18
September 2018: The global wind turbine operations & maintenance market is expected to reach USD 20.3 billion by 2025,
according to a new report by Grand View Research, Inc. Rising focus to minimize
environmental impact in the power generation industry, has fueled the wind
energy market. Exponential rise in wind turbine installation across the globe,
especially in Asia Pacific, Europe, and North America is expected to have a
positive impact on the industry over the forecast period.
Various components such
as blades, gearbox, rotors, generator, yaw, and hydraulic pumps are susceptible
to failure and require regular condition monitoring to avoid breakdown.
Effective maintenance at regular interval helps to decrease failure rate and
thus increases the operational efficiency by reducing downtime. Focus to
establish cost effective operations & maintenance is expected to fuel
industry growth over the next nine years.
Onshore accounted for
the largest share of the global market in 2016 and this trend is expected to
continue over the forecast period. However, offshore installation is estimated
to increase at an unmatched rate, owing to favorable governmental initiatives
in China, UK, Germany, Netherlands, Denmark, Japan, and South Korea. This in
turn, is predicted to drive the offshore market segment over the next nine
years.
Europe held the largest
share in 2016, owing to significant installation in countries such as Germany,
France, Italy, Spain, Denmark, Netherlands, Belgium, and Sweden. Asia Pacific
is expected to grow at a promising rate over the forecast period. The region is
estimated to dominate the global market in 2025. Latin America and Middle East
& Africa are predicted to create lucrative opportunities over the forecast
period.
Access Research Report
of Wind Turbine Operations
and Maintenance Market @ www.grandviewresearch.com/industry-analysis/wind-turbine-operations-maintenance-market
Further key findings from the report suggest:
· The global wind turbine operations &
maintenance market was valued at USD 8.08 billion in 2016 and is expected to
witness rapid growth from 2017 to 2025 owing to increasing capacity
installation across the globe
· Supportive policies to boost the renewable
energy sector was one of the key drivers for market growth over the past few
years
· Global annual installed capacity increased
from 39.06 GW in 2010 to 54.60 GW in 2016. China, the U.S., Germany, India,
Brazil, France, Turkey, and the Netherlands were the major contributors for the
growth in annual installation.
· Onshore wind turbine operations & maintenance
market held an unassailable share of the overall industry revenues and is
estimated to reach over USD 18 billion by 2025
· Offshore application segment of the market
is expected to rise at a growth rate of 15.2% from 2017 to 2025, owing to the
increasing demand as a result of higher energy output
· Asia Pacific is projected to witness
significant growth over the forecast period and surpass Europe in terms of
market share of the global market by 2025, owing to increasing capacity
installations and rising demand from the rapidly-growing population
· Latin America and Middle East & Africa
are projected to experience exceptional growth over the forecast period, owing
to robust increase in capacity installations
· Key players include Siemens Wind Power
GmbH, Suzlon Group, GE Wind Turbine, Enercon GmbH, and Gamesa Corporation. The
companies are focusing on extending their services in remote location through
implementation of advanced technology
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/renewable-energy
Grand View Research has
segmented the global wind turbine operations & maintenance market on the
basis of application and region:
Wind Turbine Operations & Maintenance Application
Outlook (Revenue, USD Million, 2014 - 2025)
·
Onshore
·
Offshore
Wind Turbine Operations & Maintenance Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
Denmark
o
France
o
Netherlands
o
Poland
o
Portugal
o
Spain
o
Sweden
o
UK
o
Ireland
o
Italy
o
Belgium
·
Asia Pacific
o
Australia
o
China
o
India
o
Japan
o
New Zealand
o
South Korea
·
Central & South America
o
Argentina
o
Brazil
·
Middle East & Africa
o
South Africa
Access Press Release of
Wind Turbine Operations and Maintenance Market@ www.grandviewresearch.com/press-release/global-wind-turbine-operations-maintenance-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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