Wind Turbine Operations and Maintenance Market Size, Growth, Trends | Report 2022-2030
The global wind turbine operations and maintenance market was estimated at USD 9.78 billion in 2021 and it is expected to surpass around USD 33.5 billion by 2030, poised to grow at a CAGR of 14.66% from 2022 to 2030.
Report Highlights
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 2021 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 2021, 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 2030. Latin America and Middle East & Africa are predicted to create lucrative opportunities over the forecast period.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 9.78 billion |
| Revenue Forecast by 2030 | USD 33.5 billion |
| Growth rate from 2022 to 2030 | CAGR of 14.66% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Application, Region |
| Companies Covered |
Siemens Wind Power GmbH, Suzlon Group, GE Wind Turbine, Enercon GmbH, and Gamesa Corporation. |
Application Insights
The global wind turbine operations & maintenance market has been segmented into onshore and offshore. Onshore was the largest application segment in 2021, accounting for over 96% share of the global revenue. Offshore is anticipated to grow at a rapid pace, projected to expand at a CAGR of 18.2% from 2022 to 2030.
Offshore turbines offer higher efficiency than onshore counterparts; however, they incur higher installation costs, and consequently, operating costs increase. The offshore sector faces various challenges owing to remote locations in the sea, with lower accessibility for repair and maintenance and high installation costs, thereby impacting the segment growth.
Major players such as the U.S., France, Spain, Portugal, Italy, and India focus on onshore projects for renewable energy generation, owing to higher costs of offshore sites. Various countries in Latin America, Asia Pacific, and Middle East & Africa solely depend on onshore projects to meet the demand.
Europe was the largest player in the offshore market, with about 91% of installed capacity across the UK, Germany, Belgium, the Netherlands, Sweden, Finland, Ireland, and Norway. Numerous countries have been taking initiatives to increase their offshore capacity, owing to higher yield; for instance, deployment of larger turbines to reduce overall costs.
The U.S. started its first commercial offshore project in 2021. In addition, China and Japan have been focusing on increasing their offshore capacity. Furthermore, European countries such as the UK, Germany, Denmark, Belgium, France, and the Netherlands have approved numerous offshore projects, therefore projecting significant growth of the offshore segment during the forecast period.
Regional insights
Europe was the largest regional market accounting for around 44% of the overall industry revenues in 2021. The region dominated the offshore installation category, and also incurs high operations & maintenance costs. The UK has the highest offshore capacity, globally, with Germany, Spain, France, Italy, and Denmark being the other key contributors in Europe.
Asia Pacific is anticipated to be the leading player by 2030, accounting for over 47% of the overall revenues, owing to significant increase in annual installations in China. China accounted for the highest annual installation of 23 GW across the globe. Furthermore, the country is expected to push its offshore capacity, thereby positively impacting the industry growth.
Market in Japan, South Korea, and South East Asian countries is expected to grow at an exponential rate over the forecast period. Emphasis to reduce environmental footprint has motivated the government in developing countries to aid wind farms. This, in turn, is likely to propel the market in Asia Pacific over the forecast period.
Latin America and Middle East are projected to witness exceptional growth over the next few years. South Africa emerged as a key player in the wind energy market over the past few years and trend is expected to continue over the forecast period. The country has further planned to upscale its wind projects in the near future.
Key Players
Market Segmentation
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 Application
8.1.Wind Turbine Operations and Maintenance Market, by Application Type, 2020-2030
8.1.1. Onshore
8.1.1.1.Market Revenue and Forecast (2017-2030)
8.1.2. Offshore
8.1.2.1.Market Revenue and Forecast (2017-2030)
Chapter 9. Global Wind Turbine Operations and Maintenance Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Material (2017-2030)
9.1.2. Market Revenue and Forecast, by Product (2017-2030)
9.1.3. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. U.S.
9.1.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.1.5. Rest of North America
9.1.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.1.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.1.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.3. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. UK
9.2.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. Germany
9.2.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. France
9.2.6.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.3. Market Revenue and Forecast, by Application (2017-2030)
9.2.7. Rest of Europe
9.2.7.1. Market Revenue and Forecast, by Material (2017-2030)
9.2.7.2. Market Revenue and Forecast, by Product (2017-2030)
9.2.7.3. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.3. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. India
9.3.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. China
9.3.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Japan
9.3.6.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.3. Market Revenue and Forecast, by Application (2017-2030)
9.3.7. Rest of APAC
9.3.7.1. Market Revenue and Forecast, by Material (2017-2030)
9.3.7.2. Market Revenue and Forecast, by Product (2017-2030)
9.3.7.3. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. GCC
9.4.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. North Africa
9.4.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. South Africa
9.4.6.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.3. Market Revenue and Forecast, by Application (2017-2030)
9.4.7. Rest of MEA
9.4.7.1. Market Revenue and Forecast, by Material (2017-2030)
9.4.7.2. Market Revenue and Forecast, by Product (2017-2030)
9.4.7.3. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.5.3. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Brazil
9.5.4.1. Market Revenue and Forecast, by Material (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.3. Market Revenue and Forecast, by Application (2017-2030)
9.5.5. Rest of LATAM
9.5.5.1. Market Revenue and Forecast, by Material (2017-2030)
9.5.5.2. Market Revenue and Forecast, by Product (2017-2030)
9.5.5.3. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10.Company Profiles
10.1.Siemens Wind Power GmbH
10.1.1.Company Overview
10.1.2.Product Offerings
10.1.3.Financial Performance
10.1.4.Recent Initiatives
10.2.Suzlon Group
10.2.1.Company Overview
10.2.2.Product Offerings
10.2.3.Financial Performance
10.2.4.Recent Initiatives
10.3.GE Wind Turbine
10.3.1.Company Overview
10.3.2.Product Offerings
10.3.3.Financial Performance
10.3.4.Recent Initiatives
10.4.Enercon GmbH
10.4.1.Company Overview
10.4.2.Product Offerings
10.4.3.Financial Performance
10.4.4.Recent Initiatives
10.5.Gamesa Corporation
10.5.1.Company Overview
10.5.2.Product Offerings
10.5.3.Financial Performance
10.5.4.Recent Initiatives
Chapter 11.Research Methodology
11.1.Primary Research
11.2.Secondary Research
11.3.Assumptions
Chapter 12.Appendix
12.1.About Us
12.2.Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers