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C&M: European industry for wind turbine services to be driven by increase in aging wind farms

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Wind Turbine Service Market in Europe 2014-2018 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-18 07:29:01
The Wind Turbine Service market in Europe is to grow at a CAGR of 9.02 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increase in aging wind farms. The Wind Turbine Service market in Europe has also been witnessing the increase in investments by OEMs. However, the lack of skilled workforce could pose a challenge to the growth of this market.

Increasing investment by OEMs is one of the major trends being witnessed in the market. Some OEMs are attempting to enhance their own existing technology and invest in new technology to reduce onshore logistics costs. Many large OEMs are entering into partnerships with local ISPs to maintain a flexible and efficient manpower structure, while reducing costs with regard to logistics. By investing in technology and local ISPs, the OEMs are attracting the IPPs and utilities to enter into long-term contracts for service with OEMs. This not only ensures long-term cash flow for the OEMs but also ensures the long-term project finance, as financiers are increasingly demanding long-term contracts that reduce the cash volatility risk and guarantee stable returns to the financiers.

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Mike King
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