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
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.
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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.
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.
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.
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.
| 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.
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.
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.
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
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.
Segments Covered in the Report
By Type
By Application
By Geography
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
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