Global Wind Turbine Operations Market – Market Projections &
The total revenue of the Global Wind
Turbine Operations Market remained USD 12 billion in 2019. It is estimated to
reach USD 20.12 billion by 2027, at a CAGR of 8.54% during the prediction
period. The wind turbine
operations market is determined by investment trends in offshore wind turbines,
acceptance of the diverse renewable sources of energy, and pressure on the
supply of electricity. Growing fittings and an increasing number of aging
turbines across the globe require upkeep services, and they have eventually
driven the market's growth.
The urgent need to lower the carbon emissions and increasing
preference for renewable power are the other factors that further stimulate the
growth of the market. Additionally, progressing government support and the
rising number of maintenance services agencies provide the necessary support.
Nevertheless, the population is growing exponentially, and it is likely to
place pressure on the power sector for its increasing need. It will eventually
lead to the exploration of other green sources of power, such as wind turbines.
However, the high cost of the wind turbines and lack of obtainability and high
maintenance are the growth-hampering or negating for this market.
Global Wind Turbine Operations Market – Overview
Wind energy is a renewable form of energy that is available in
plenty on the exterior of earth. Fundamentally, wind energy is the adaptation and
deployment of wind flow to produce a beneficial form of energy. The examples
include electricity generation through water pumping, power generation through
wind turbines, and windmills for mechanical energy. Wind power is a substitute
energy source created from the wind flow or air currents with the aid of a wind
turbine. Over the last few years, there has been a substantial rise in offshore
exploration and production activities, fueling the need for wind turbine
fixtures in offshore areas internationally. The development is likely to propel
the global wind turbine operations and maintenance service improvement in the
The ordinary useful life of a wind turbine is 20 to 25 years.
Thus, old wind turbines installed before 2000 needs maintenance and repair.
However, all wind turbines require proper upkeep after 10 years of use.
Favorable government policies and Initiatives
Encouraging government policies and substantial incentives were
made effective for developing a zero carbon emission power system. It has
strengthened the annual installation capacity of wind turbines over the past
few tears. Countries like China, Germany, India, Japan, and France are
determined to reduce their dependence on fossil fuel-based power sources.
Advanced countries in Europe have devised market-based systems such as
competitive auction and feed-in-premium tariffs for the renewable energy
sector. China has been supporting the development by implementation of promising
plans and policies with the critical purchase of renewable energy and the Five
Year Plan for Energy Transition. As per plans, the investment has been made in
new turbine fixtures to ensure increased wind energy consumption to 20% by
2030. Furthermore, Japan and India have put into practice the feed-in-tariff
policy to encourage savings in renewable energy projects.
Encouraging policies and initiatives to minimize adverse
environmental impact have given the push to the renewable energy market rightly
and led to a productive development of turbines.
The technical invention in wind energy has led to the growth of
energy-efficient procedures in various activities. As a result, the decline has
been noticed in electricity demand from the industrial and housing sectors of
developed countries, including the US.
Earlier, the wind energy industry was subject to high costs for
operations & maintenance of turbines. However, with robust development in
the wind energy market, industry players increased their focus on optimizing
maintenance costs through active tracking of failure statistics and other policies.
They monitor the progress of operations & supervise the maintenance
activities required at project sites. They emphasize favorable and
cost-effective conditions and monitoring techniques, and therefore, many
companies have begun applying cutting-edge technology to assess breakdown
issues. Advanced tools are being designed to estimate long-term annual average
costs and interruption of turbines. Such tools help recognize components that
are on the edge of being dysfunctional and preventive actions are taken in
advance to avoid unforeseen failure.
Global Wind Turbine Operations Market: Segmentation
The global wind turbine operations market has been divided into
onshore and offshore segments. The onshore segment was dominating one with a
93% share of global revenue in 2016. Offshore turbines offer advanced
competence than onshore counterparts do; however, they entail higher fitting
and operating costs. The offshore sector faces various challenges, such as the
inconvenience of repairs and upkeep and higher installation costs in remote
locations toward the sea, impeding its growth.
Based on the region, Global Wind Turbine Operations Market is
segmented into five regions— Asia Pacific, Latin America, North America,
Europe, and the Middle East & Africa. Europe has been the principal player
in the offshore market, accounting for 91% installed capacity across the UK,
Germany, Belgium, Finland, the Netherlands, Sweden, Ireland, and Norway. Many
nations have benefited from the economies of scale with the surge of offshore
capacity in giant turbines. Market players have earned higher returns while
supplying renewable energy in the continent.
Global Wind Turbine Operations Market: Regional Insights
Europe held a vital percentage of the global wind turbine
operations market in 2018. This regional development can be attributed to an
expanded number of offshore installation activities across the region. The
rising number of offshore wind farms fuels the demand for overseas wind turbine
operation and maintenance services. Furthermore, the UK has the highest
offshore share in terms of volume in the entire European region and will
continue its forward march in the upcoming period.
The Asia Pacific wind turbine operations market is also estimated
to register the loftiest growth rate over the prediction period. There has been
a substantial rise in wind turbine fittings in China. It is likely to advance
its offshore wind turbine installations in the future and set to drive the wind
turbine operations in the Asia Pacific region during coming years.
The leading names in this market are Gamesa Corporation, GE Wind
Turbine, Siemens Wind Power GmbH, Suzlon Group, Nordex SE, UpWind Solutions
Inc., Xinjiang Goldwind Science & Technology, Enercon GmbH, and Vestas Wind
Systems A/S. and others.
Scope of the Report
data – 2016-2019
Base Year –
2020 – 2027
Revenue in USD Billion
U.S, Canada, Germany, UK,
France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South
Korea UAE, South Africa, Saudi Arabia.
By Type of Wind Farm,
By Application and By Region
Corporation, GE Wind Turbine, Siemens Wind Power GmbH, Suzlon Group, Nordex
SE, UpWind Solutions Inc., Xinjiang Goldwind Science & Technology,
Enercon GmbH, and Vestas Wind Systems A/S and others.
By Type of Wind Farm
Ø North America
Ø Asia Pacific
Ø South America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and project the Global Wind Turbine Operations Market size in terms of value.
Ø To examine the region-wise segmentation of the Global Wind Turbine Operations Market and assess the market
size in terms of value for each region viz., North America, Europe, Asia
Pacific, Middle East & Africa, Latin America, and their leading
Ø To outline, segregate, and estimate the Global Wind Turbine Operations Market based on different classifications, i.e., By Type of
Wind Farm, By Application and By Region.
Ø To scrutinize category-wise competitive developments in the Global Wind Turbine Operations Market By Type of Wind Farm, By
Application and By Region.
Ø To interpret the current market dynamics by analyzing growth
drivers, restraints, opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major
players, strategic profiles, and market shares.
Business Questions Answered by the Report
Ø How will the market drivers, restraints, and opportunities
affect the market dynamics?
Ø What will be the market size in terms of value and volume and
market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will
be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it
affect the existing and new players?
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is
why BlueWeave Consulting offers customization as per client’s specific needs.
The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis