Global expenditure for wind turbine Operations and
Maintenance will rise from $9.25 billion in 2014 to an estimated $17 billion by
2020, driven by increasing numbers of installations and aging turbines.
A wind farm's O&M costs account for 10-15% of the
total cost of power generation in an onshore wind farm and 25% in an offshore
wind farm. Offshore wind maintenance is
more expensive as it requires specialists to lift and install components during
repairs and general maintenance, while accessibility for scheduled O&M work
can be hampered by harsh weather conditions. While the onshore wind O&M
market was valued at over nine times that of its offshore equivalent in 2014,
the offshore arena is set to expand at a much faster rate over the forecast
period.
The global onshore wind O&M market is forecast to
grow in value from $8.34 billion in 2014 to $13.43 billion by 2020, at a CAGR
of 9.2%. However, the offshore wind O&M market value will increase at a
rapid CAGR of 26%, from an estimated $0.91 billion in 2014 to $3.57 billion by
2020, boosting its share from 9.8% to 21%.
Global Wind Turbine Operations & Maintenance
Market, Update 2015 - Market Size, Major Contenders, Trends, and Analysis to
2020 provides insight into the global
wind turbine operations and maintenance market, explaining the key drivers and
challenges affecting this sector. It includes annualized market size data from
2014 and forecast to 2020, both globally and in the key wind power countries of
the US, Germany, Spain, UK, China and India.
Reasons to Buy
- Facilitate decision-making based on strong historic and forecast data for the wind turbine O&M market
- Maximize potential in the growth of the wind power market
- Identify key partners and business-development avenues
- Respond to competitors' business structure, strategy and prospects
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