Advances In Technology Will Continue To Lower Wind O&M Costs, According To Market Report

Operations and maintenance segment of wind energy expected to reach $19 billion by 2020

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Direct drive technology and tension control measurement technology for turbine bolts are among the innovations that considerably reduce wind O&M costs. 

The O&M market’s growth is currently restrained by a lack of skilled manpower, and the cost of logistics. However, the increase in the wind power O&M market is leading to an increase in companies providing specialized wind turbine O&M services, which in turn is decreasing the cost of O&M services. Taking these factors into consideration, the wind power O&M market is expected to reach $19 billion by 2020. 

The global wind power market has grown rapidly in the past few years, with annual installations increasing from 14.8 GW in 2006 to 44.8 GW in 2012. Annual additions peaked in 2009, but the industry was then heavily affected by the economic slowdown in the major wind markets. Global wind installed capacity has almost doubled every three years since 2001 at a CAGR of 24.8 percent during 2001 to 2012.

GlobalData’s report “Wind Operations & Maintenance Market, 2013 Update – Global Market Size, Share by Component, Competitive Landscape and Key Country Analysis to 2020,” provides an understanding of the technology, key drivers and challenges in the global wind power market. It also provides historical and forecast data to 2020 for installed capacity and power generation. The report furnishes information on global market size of wind Operations and Maintenance (O&M) market, market share by company type (original equipment manufacturers, independent service providers and in-house), O&M market share by onshore – offshore wind market segments and key company profiles. The report also provides market data on out of warranty turbines, gearbox repairs and refurbishment market, blade repairs and generator repairs during the period of 2012-2020. Major countries analyzed in the report include the US, Germany, Spain, the UK, China and India.

 

—Source: GlobalData