Global Wind Services Market Growth Opportunities Report 2021 with Profiles from Vestas, Siemens Gamesa and PSI Repair Services – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The “Growth Opportunities in the Global Wind Power Services Market” report has been added to from ResearchAndMarkets.com offer.

The global wind utility market is expected to grow from $18.95 billion to $42.25 billion by 2030, at a compound annual growth rate (CAGR) of 8.2%.

More than 1000 GW of wind capacity will be commissioned between 2021 and 2030, which would significantly increase the opportunities for the wind services market.

Asia-Pacific is the largest wind services market, accounting for 40.1% of the global market in 2020. Rapidly increasing wind turbine installations and favorable regulations are the major drivers of the wind turbine O&M market in Asia- Peaceful.

China, Japan and India are among the largest countries with cumulative facilities in the region. Europe was the second largest market for wind services in 2020. In service contracts, the transition to energy availability contracts is expected to dominate the market, followed by service contracts offered by specialized service providers.

Ongoing concerns about rising carbon emissions and the need to mitigate climate change have forced governments to accelerate investments in renewable energy. Wind and solar energy, in particular, are expected to play a crucial role in the global race to decarbonize. Over the past ten years, wind energy capacity additions have been gaining momentum around the world. Wind energy has become one of the fastest growing sources of energy and one of the most economical solutions for generating electricity.

As wind energy grows, the demand for operation and maintenance (O&M) services increases, to maintain the wind farm and run the turbines and produce clean energy without any disruption. O&M plays a crucial role in the wind energy industry and ensures the sustainability and long-term growth of wind energy worldwide.

Additionally, aftermarket and service activities continue to be an increasingly important source of revenue for OEMs and Independent Service Providers (ISPs). The wind services industry is now fully recognized as a significant business opportunity worldwide and will continue to grow, with new capabilities being added online.

More than 1000 GW of wind capacity will be commissioned between 2021 and 2030, which would significantly increase the opportunities for the wind services market. During this period, the global wind utility market is expected to grow from $18.95 billion to $42.25 billion by 2030, at a compound annual growth rate (CAGR) of 8.2%.

Besides annual capacity additions, the opportunity for the wind services market will come from aging wind turbines coming out of warranty, especially in Europe and North America. Typical service costs for older turbines are higher than for new ones, increasing annual revenues for OEMs and ISPs. Overall, the scope of the wind services market is expected to grow across all geographies.

Currently, the major players in the wind utility industry are turbine OEMs and ISPs. Component manufacturers and in-house service teams hold a small share of the market. As the global renewable energy market continues to grow and mature, the wind utility industry is shifting from product-driven business models to service-driven business models and is witnessing increasing digitization, which has created new entrants: specialized service providers.

These new service providers offer technical services, including drones and robots for monitoring and evaluation or monitoring based on individual components.

The future outlook for the wind services market remains positive, even though the challenges posed by COVID 19 and the scope of wind services is expected to increase in all geographies. Overall, increasing annual capacity additions, aging wind turbines, and innovations in digitalization will drive the wind services market.

MAIN ISSUES ADDRESSED

  • What is the state of the global wind energy market? How should it grow until 2030? What are the different trends driving the global wind energy market?

  • What is the current state of the global wind services market? What are the current trends driving the global wind services market? What are the major drivers and restraints influencing the wind power services market?

  • Who are the different service providers and what standard contracts do they offer?

  • What is the size of the current wind services market and what is its projected growth through 2030? Which regions will show the highest growth potential in the future?

  • What are the various growth opportunities in the global wind services market?

Main topics covered:

1. Strategic imperatives

  • Why is it increasingly difficult to grow taller?

  • The strategic imperative

  • The Impact of the Top 3 Strategic Imperatives on the Wind Utility Industry

  • Growth opportunities fuel the growth pipeline engine

2. Market coverage

  • Results

  • Wind services market – Scope of analysis

  • Geographic scope

  • Analysis by type of contract

  • Main growth indicators

  • Questions this study will answer

3. Growth environment

  • Introduction to wind services

  • Downtime challenges and impact

  • Components and maintenance requirements

  • Drivers impacting service strategy

  • Market ecosystem

  • Synergy between the wind industry and service providers

  • Services and offers

  • Evolution of market

4. Global Wind Energy Forecast

  • Wind Energy Forecast – Annual Capacity Additions

  • Wind Energy Forecast – Cumulative Installed Capacity

  • Offshore Wind Forecast – Cumulative Capacity Additions

5. Market Drivers, Restraints and Trends

6. Market Forecast

  • Revenue forecast

  • Revenue forecast analysis

  • Revenue forecasts by region

  • Revenue forecast analysis by region

  • Revenue forecast by type of service contract

  • Analysis of revenue forecasts by type of service contract

  • Revenue forecasts by type of wind farm

  • Analysis of revenue forecasts by type of wind farm

7. Regional analysis

  • North American market analysis

  • European market analysis

  • APAC market analysis

  • LATAM market analysis

  • MEA market analysis

8. Competitive analysis

  • Competitive landscape

  • Competitive environment

  • Revenue sharing

  • Revenue share analysis

  • Company Profile – Vestas

  • Company Profile – Siemens Gamesa

  • Company Profile – PSI Repair Services

9. Growth Opportunity Universe – Wind Turbine Services Market

  • Impact of growth opportunities

  • Growth Opportunity 1: Move to Turbine-As-A-Service

  • Growth opportunity 2: from predictive to prescriptive

  • Growth Opportunity 3: Deployment of Innovative Business Models

  • Growth Opportunity 4: Value Chain Mergers/Collaborations/Partnerships

  • Growth Opportunity 5: Drones for O&M

  • Growth Opportunity 6: Climbing robots for O&M

  • Growth Opportunity 7: Blockchain for Inventory Management

  • Growth Opportunity 8: AM for Durable Parts

  • Growth Opportunity 9: Digital Twins for Optimized Performance

  • Growth Opportunity 10: Augmented/Virtual Reality and Wearables for O&M

  • Growth Opportunity 11: Multi-Brand Services

For more information about this report visit https://www.researchandmarkets.com/r/ssf0mr

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