wind

Report: Wind energy operations and maintenance market set to double by 2025

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The wind energy operations and maintenance market is set to double by 2025, growing from just over $13.7 billion in 2016 to around $27.4 billion, according to a new report from GlobalData. This represents a compound annual growth rate of 8 percent.  
Report: Wind energy operations and maintenance market set to double by 2025

Aging wind turbines and the failure of components such as blades and gearboxes are the major drivers of the rapidly growing O&M market.

Anchal Agarwal, Power Analyst for GlobalData, stated: “Offshore wind accounted for just over 8% of the total wind O&M market in 2016, and is expected to contribute 18.4% by 2025. This is because the technology is increasingly being explored across the world, for its high yield, due to stronger and more consistent winds in comparison to onshore; and has the scope to construct massive Gigawatt-scale projects.

“Indeed, offshore wind attracts higher O&M costs than onshore wind due to higher turbine maintenance, higher logistics costs, and a lack of skilled manpower.”

The report states China is expected to maintain its current position as the largest wind O&M market worldwide with the United States holding on to the number two spot. Germany –the largest European wind O&M market  – accounted for 14.3% of the global market in 2016, and is expected to hold an 11.9 percent share in 2025. 

For additional information:

GlobalData

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Gurdal Ertek
These new wind turbine designs are pretty exciting! I am looking forward to see more of these new designs in the market and see how they perform compared to existing designs and models. To this end, here is a study that we have completed regarding the efficiency of commercial wind turbines ( Please check our research here: http://ertekprojects.com/url/b ) Also, we have completed another research study on wind turbine failures and accidents. This is also a very important topic, but sadly there is very limited literature on this topic: http://ertekprojects.com/wind-turbine-accidents/ All the best, Dr. Gurdal Ertek