Lucintel Forecasts Global Wind O&M Market To Reach $14 Billion By 2018

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The global wind operation and maintenance market is set to expand with stable demand potential in the near future. The wind operation service market accounted for more than 20 percent and the wind maintenance service market accounted for more than 75 percent of the global wind operation and maintenance marketing 2012. The three main components of wind turbines, gearbox, generator, and wind blades account for more than 50 percent of repair and replacement servicing needs. According to market forecasts, the global wind operation and maintenance market is expected to reach $14,014 million by 2018.

Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on this market and presents its findings in "Growth Opportunities in Global Wind Operation and Maintenance Market 2013-2018: Trend, Forecast, and Opportunity Analysis.” This study provides a concise overview of the global wind operation and maintenance market in terms of value and projected annual growth.

Lucintel discusses the various challenges and opportunities faced by the wind O&M market. Efficient and timely operation and maintenance servicing has a positive impact — both on reducing repair costs and improved performance output of large machines. In this market, it is very critical to have ready inventory of spare parts or a strong supply chain that can respond to the repair needs when they occur.

Lucintel's study encompasses the major drivers. Mostly, aging wind turbines cause unexpected failure of components, such as gearboxes, generators, and rotor blades, which is a major driver for wind operation and maintenance costs. So, improving turbine reliability is a priority for the manufacturers.

This report highlights different aspects of the wind operation and maintenance market. Due diligence has been given to the current market scenario. Europe is the leader in this market with the highest market share, followed by APAC.

The global wind operation and maintenance market is expected to grow significantly in near future. The top players need to formulate effective marketing strategies to take advantage of the opportunities, resulting in improved revenue and profitability.