Wind Turbine Operations and Maintenance Market Size, Share, and Trends 2024 to 2034

Wind Turbine Operations and Maintenance Market (By Type: Scheduled, Unscheduled; By Application: Onshore, Offshore) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023 – 2032

  • Last Updated : October 2023
  • Report Code : 1553
  • Category : Energy and Power

Wind Turbine Operations and Maintenance Market Size and Companies

The global wind turbine operations and maintenance market was estimated at USD 30 billion in 2022 and is expected to hit over US$ 59.84 billion by 2032, poised to grow at a CAGR of 7.20% during the forecast period 2023 to 2032.

Wind Turbine Operations and Maintenance Market Size 2023 to 2032

To Access our Exclusive Data Intelligence Tool with 15000+ Database, Visit: Precedence Statistics

Wind Turbine Operations and Maintenance Market Size in theAsia Pacific 2023 To 2032

The Asia Pacific wind turbine operations and maintenance market was valued at USD 11.40 billion in 2022 and is predicted to reach around US$ 22.32 billion by 2032, at a CAGR of 7% between 2023 to 2032.

Asia Pacific Wind Turbine Operations and Maintenance Market Size 2023 To 2032

Region wise, the North America segment dominated the global wind turbine operations and maintenance market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast period. The wind turbine operations and maintenance market in region is growing due to increasing renewable energy policies.

Wind Turbine Operations and Maintenance Market Share, By Region, 2020 (%)

On the other hand, the Asia-Pacific is estimated to be the most opportunistic segment during the forecast period. The wind turbine operations and maintenance market in Asia-Pacific region is being driven by a rapid growth in wind turbine installations and favorable regulatory frameworks.

Growth Factors

Wind is a type of solar energy that results from the uneven heating of the atmosphere and irregularities on the earth’s surface. Due to the long-term impact, wind farm owners must conduct operations and maintenance on their turbines. Self-perform tactics are frequently pursued by larger owners in order to gain complete control over their assets, advance original equipment manufacturer (OEM) practices, and reduce expenses.

A wind turbine is a machine that turns the kinetic energy of the wind into electricity. The number of big turbines in wind farms now generate over 650 gigawatts of electricity, with 60 gigawatts installed every year.

The periodic turbine maintenance is required to extend the life of wind turbines and boost the market for wind turbine operations and maintenance. The leading market players in the global wind turbine operations and maintenance market must invest a significant amount of money to generate both electricity and income over the projected period. 

The maintenance, operation, repairing, and diagnostics of wind turbines erected at offshore wind farms are all handled by wind turbine operations and maintenance service providers. The unplanned maintenance, scheduled maintenance, asset management, and remote monitoring are all examples of wind turbine operations and maintenance services.

Scope of the Wind Turbine Operations and Maintenance Market

Report Coverage Details
Market Size US$ 59.84 Billion by 2032
Growth Rate CAGR of 7.20% from 2023 to 2032
Largest Market Asia Pacific
Fastest Growing Market North America
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Product, Application, Region
Companies Mentioned Eurokey Recycling, Ltd., Northstar Recycling, Triple M Metal LP, Amdahl Corporation, Interface, Inc., Covanta, Epson, Inc., Collins & Aikman, Xerox Corp., Fetzer Vineyards, Zanker Road Landfill, Rubicon Global, RU Recycling- und Umweltdienst GmbH, Advanced Disposal Services, Biffa

 

The generators, drive trains, gearboxes, rotor blades, and brakes are all major components of wind turbines that are prone to failure. The wind turbine manufacturers, in-house operations and maintenance, and independent service provider’s teams have arisen in the industry as options for operations and maintenance. The offshore wind farms experience more downtime due to wind turbine component failure than onshore wind farms, due to severe weather conditions and logistics challenges.

The scheduled maintenance is the key to remaining at the top of the global wind turbine operations and maintenance market, as it avoids time consuming and costly procedures. The wind turbine parts are expensive and lubrication is required to achieve the turbine’s maximum output and efficiency. As a result, large players in the global wind turbine operations and maintenance market are concentrating on regular oiling and greasing of wind turbine components.

With surge in demand for energy, the governments and major market players are turning to renewable energy, which has the capability to supply clean energy on a large scale. The introduction of advanced technologies in offshore wind energy has encouraged developed nations and major companies to invest heavily on wind turbine projects. Due to decline in costs and improving technology, the offshore industry is likely to remain the leading factor driving the global wind turbine operations and maintenance market during the forecast period.

The anticipated growth in the deployment of wind turbines in more complicated and difficult locations such as deeper offshore along with the rising capacity of wind turbine capacity, has put more burden on the wind turbine’s working components. This causes early component degradation such as gearboxes and other components and is anticipated to create a substantial wind farm collapse. Furthermore, the expenses of delivering wind turbine operations and maintenance services are significantly greater than onshore installations. In comparison to onshore facilities, factors like as increasing service, material, and difficult to access terrains are limiting the growth of the wind turbine operations and maintenance market. During the projected period, these recent trends are expected to drive the global wind turbine operations and maintenance market.

The increase in offshore exploration and production activities, which has resulted in surge in the number of wind turbine installations in offshore areas around the world as well as the growing demand for systems to extend the shelf life of wind turbines, are the main drivers driving the wind turbine operations and maintenance market during the forecast period. 

Type Insights

On the basis of type, the scheduled segment dominated the global wind turbine operations and maintenance market in 2022, in terms of revenue and is estimated to sustain its dominance during the forecast period. These services are performed at regular intervals to keep the wind turbines running smoothly.

Wind Turbine Operations and Maintenance Market Share, By Type, 2020 (%)

On the other hand, the unscheduled segment is estimated to be the most opportunistic segment during the forecast period. This is owing to the high frequency of the services, as scheduled maintenance is often performed only in the event of an emergency such as a failure of equipment of a turbine fire.

Application Insights

Based on the application, the onshore segment dominated the global wind turbine operations and maintenance market in 2022. The onshore wind’s advantages over offshore wind including as lower initial investment costs, faster installation, and shorter cables are attracting the attention of industry participants.

However, the offshore segment is estimated to be the most beneficial segment during the forecast period. Offshore turbines are more efficient than onshore turbines, but they come with installation costs and as a result of higher operational costs.

Key Developments

  • Siemens Gamesa, a Spanish wind turbine manufacturer, was awarded a 30-year contract in May 2020.
  • Suzlon Energy Australia was handed an operation and maintenance contract for 252 MW of wind turbines in September 2018. 
  • Nordex SE reported in December 2021 that it has received an order from Swift Energy to supply wind turbines with a 4.8 MW capacity to the Castle Gap project in Central Texas.
  • Siemens Gamesa declared in December 2021 that the South Fork Wind energy project would use the Paul Candies, a Gulf of Mexico-based inspection, repair vessel, for maintenance turbine building maintenance and operations.

To minimize the overall cost of the wind turbine operations and maintenance projects, the key market players are working together and acquiring raw material and component manufacturers. Furthermore, the key market players of wind turbine operations and maintenance market are spending in research and development to improve the efficiency of their technologies in order to obtain a competitive advantage over their competitors and gain a larger market share over the projection period.

Some of the prominent players in the global wind turbine operations and maintenance market include:

  • Vestas
  • Dongfang Electric Corporation
  • ENERCON GmbH
  • Goldwind
  • Nordex SE
  • Sinovel
  • GE Renewable
  • Suzlon Group
  • Ming Yang Smart Energy Group Co.
  • Siemens Gamesa Renewable Energy S.A.

Segments Covered in the Report

By Type

  • Scheduled
  • Unscheduled

By Application

  • Onshore
  • Offshore

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

According to Precedence Research, the global wind turbine operations and maintenance market size was valued at USD 30 billion in 2022 and is anticipated to reach around US$ 59.84 billion by 2032.

The global wind turbine operations and maintenance market is expected to drive growth at a CAGR of 7.20% over the forecast period 2023 to 2032.

The major players operating in the wind turbine operations and maintenance market are Vestas, Dongfang Electric Corporation, ENERCON GmbH, Goldwind, Nordex SE, Sinovel, GE Renewable, Suzlon Group, Ming Yang Smart Energy Group Co., and Siemens Gamesa Renewable Energy S.A.

The market for wind turbine operations and maintenance has surged due to an increase in capacity installations around the world.

The North America region will lead the global wind turbine operations and maintenance market over the near decade.

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Wind Turbine Operations and Maintenance Market 

5.1. COVID-19 Landscape: Wind Turbine Operations and Maintenance Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Wind Turbine Operations and Maintenance Market, By Type

8.1. Wind Turbine Operations and Maintenance Market, by Type, 2023-2032

8.1.1. Scheduled

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Unscheduled

8.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Wind Turbine Operations and Maintenance Market, By Application

9.1. Wind Turbine Operations and Maintenance Market, by Application, 2023-2032

9.1.1. Onshore

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Offshore

9.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Wind Turbine Operations and Maintenance Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Type (2020-2032)

10.1.2. Market Revenue and Forecast, by Application (2020-2032)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Type (2020-2032)

10.1.3.2. Market Revenue and Forecast, by Application (2020-2032)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Type (2020-2032)

10.1.4.2. Market Revenue and Forecast, by Application (2020-2032)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Type (2020-2032)

10.2.2. Market Revenue and Forecast, by Application (2020-2032)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Type (2020-2032)

10.2.3.2. Market Revenue and Forecast, by Application (2020-2032)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Type (2020-2032)

10.2.4.2. Market Revenue and Forecast, by Application (2020-2032)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Type (2020-2032)

10.2.5.2. Market Revenue and Forecast, by Application (2020-2032)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Type (2020-2032)

10.2.6.2. Market Revenue and Forecast, by Application (2020-2032)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Type (2020-2032)

10.3.2. Market Revenue and Forecast, by Application (2020-2032)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Type (2020-2032)

10.3.3.2. Market Revenue and Forecast, by Application (2020-2032)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Type (2020-2032)

10.3.4.2. Market Revenue and Forecast, by Application (2020-2032)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Type (2020-2032)

10.3.5.2. Market Revenue and Forecast, by Application (2020-2032)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Type (2020-2032)

10.3.6.2. Market Revenue and Forecast, by Application (2020-2032)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Type (2020-2032)

10.4.2. Market Revenue and Forecast, by Application (2020-2032)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Type (2020-2032)

10.4.3.2. Market Revenue and Forecast, by Application (2020-2032)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Type (2020-2032)

10.4.4.2. Market Revenue and Forecast, by Application (2020-2032)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Type (2020-2032)

10.4.5.2. Market Revenue and Forecast, by Application (2020-2032)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Type (2020-2032)

10.4.6.2. Market Revenue and Forecast, by Application (2020-2032)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Type (2020-2032)

10.5.2. Market Revenue and Forecast, by Application (2020-2032)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Type (2020-2032)

10.5.3.2. Market Revenue and Forecast, by Application (2020-2032)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Type (2020-2032)

10.5.4.2. Market Revenue and Forecast, by Application (2020-2032)

Chapter 11. Company Profiles

11.1. Vestas

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Dongfang Electric Corporation

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. ENERCON GmbH

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. Goldwind

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. Nordex SE

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. Sinovel

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. GE Renewable

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Suzlon Group

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. Ming Yang Smart Energy Group Co.

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Siemens Gamesa Renewable Energy S.A.

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

Ask For Sample

No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client