Wind Turbine Operations And Maintenance Market To Reach $27.24 Billion By 2030

Wind Turbine Operations And Maintenance Market Growth & Trends

The global wind turbine operations and maintenance market size is expected to reach USD 27.24 billion by 2030, registering a CAGR of 7.0% during the forecast period, according to a new report by Grand View Research, Inc. 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 2022 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 offshore installation category, owing to significant installation in countries such as Germany, France, Italy, Spain, Denmark, Netherlands, Belgium, and Sweden. Asia Pacific accounted for the largest revenue share of 42.6% in 2022. The region is estimated to dominate the global market in 2025. Latin America and Middle East & Africa are predicted to create lucrative opportunities over the forecast period.

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Wind Turbine Operations And Maintenance Market Report Highlights

• The global wind turbine operations & maintenance market was valued at USD 15.86 billion in 2022 and is expected to witness rapid growth from 2023 to 2030 owing to increasing capacity installation across the globe

• Supportive policies to boost the renewable energy sector was one of the key drivers for market growth over the past few years

• Onshore wind turbine operations & maintenance market held an unassailable share of the overall industry revenues and is driven by advances in technology, regulatory frameworks & policies, initiatives for cost reduction, and environmental concerns.

• Offshore application segment of the market is expected to rise at a growth rate of 9.9% from 2023 to 2030, owing to the increasing demand as a result of higher energy output

• In 2022, Asia Pacific dominated the global market in terms of revenue share, owing to increasing capacity installations and rising demand from the rapidly-growing population

• Central & South America is projected to experience exceptional growth over the forecast period, owing to robust increase in capacity installations.

Wind Turbine Operations And Maintenance Market Segmentation

Grand View Research has segmented the global wind turbine operations and maintenance market report based on application, and region

Wind Turbine Operations And Maintenance Application Outlook (Revenue, USD Million, 2018 - 2030)

• Onshore

• Offshore

Wind Turbine Operations And Maintenance Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • Denmark

  • France

  • Netherlands

  • Poland

  • Portugal

  • Spain

  • Sweden

  • UK

  • Ireland

  • Italy

  • Belgium

• Asia Pacific

  • Australia

  • China

  • India

  • Japan

  • New Zealand

  • South Korea

• CSA

  • Argentina

  • Brazil

• MEA

  • South Africa

List of Key Players in the Wind Turbine Operations And Maintenance Market

• Siemens Gamesa Renewable Energy, S.A.

• Suzlon Group

• GENERAL ELECTRIC

• ENERCON GmbH