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Opportunities in Global Wind O&M Market, January 2015

This brief presents opportunities in global wind O&M market. This briefing covers market insights, market forecasts, emerging trends, and strategic growth opportunities of global wind O & M market. Some highlights of the briefing are as follows:
  • Global wind turbine cumulative installation is expected to reach 616 GW by 2019
    • Onshore wind accounts for ~98% of the global wind cumulative installations in 2013 whereas offshore accounts for ~2%, mainly driven by Europe
    • Europe accounted for ~38% of the cumulative installations in 2013, followed by APAC with ~37%, NA with ~23%  and RoW with ~2% share
  • Global wind O&M market is estimated at $7.5 B in 2013 and expected to grow at a CAGR of 15% from 2013 to 2019
  • Europe was the largest market contributing ~46% of the global O & M market, followed by APAC at ~30%, NA at ~21% and ROW at ~2% in 2013.
  • Onshore O & M market accounts for ~94% of the total O&M market and offshore accounts ~6% in 2013.
  • Low accessibility, low availability level and logistic issues etc. make offshore O & M services difficult to render, resulting in higher offshore O&M cost than onshore O&M
  • Increasing use of predictive maintenance, innovations in key components, increasing distance from shore & depth of offshore wind farms, & long term service contracts are key emerging trends in wind O&M market.
  • By analyzing the contributing factors of O&M for onshore and offshore, European onshore O&M looks the most attractive market
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