Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Finance
Wind Operations & Maintenance Market, 2013 Update - Global Market Size, Share by Component, Competitive Landscape and Key Country Analysis to 2020

Global wind operations market: $19 billion industry forecast by 2020


Print article Print article
© companiesandmarkets.com

companiesandmarkets.com
companiesandmarkets.com
2014-01-30 07:17:01 - Wind Operations & Maintenance Market, 2013 Update - Global Market Size, Share by Component, Competitive Landscape and Key Country Analysis to 2020 - a new market research report on companiesandmarkets.com

With wind energy capacity growing at a rapid pace, the value of the operations and maintenance (O&M) market is expected to increase from $3 billion in 2008 to $19 billion by 2020.

More than 191 GW of wind power capacity was added between 2008 and 2012, which has drastically increased O&M expenditure from $3 billion to $7 billion in the same period, demonstrating a Compound Annual Growth Rate (CAGR) of 15.6%.

Offshore wind energy will continue to attract higher O&M costs in comparison to onshore wind, reaching a market size of $5 billion, or a 29% share of the total O&M market in 2020.

Currently, the US is the largest O&M market in the world, but we expect that China will surpass it

 

 

to become the leader in O&M expenditure, with a 24.7% share of the market by 2020.

Higher turbine maintenance, high logistics costs and a lack of skilled manpower make offshore wind services more challenging than the onshore equivalent. Although onshore wind also faces similar issues, the impact of these factors on the offshore segment is more significant.

The growth in the wind industry´s O&M cost is largely due to the increasing age of wind turbines and the failure of components such as blades and gearboxes.

This increase in market size is leading to a rise in the number of companies providing specialized wind turbine O&M services, which is in turn bringing the benefit of lower costs to consumers.

Click for report details: www.companiesandmarkets.com/Market/Environmental/Market-Research ..

Browse all Environmental Market Research Reports www.companiesandmarkets.com/Market/Environmental/Market-Research ..

Browse all Environmental Company Profile Reports www.companiesandmarkets.com/Market/Environmental/Company-Profile ..

Browse all Latest Market Research Reports www.companiesandmarkets.com/Market/All/Market-Research?aCode=f3f ..

About Us
Companiesandmarkets.com is a leading online business information aggregator with over 300,000 market reports and company profiles available to our clients. Our extensive range of reports are sourced from the leading publishers of business information and provide clients with the widest range of information available. In terms of company profiles, Companiesandmarkets.com’s online database allows clients access to market and corporate information to over 100,000 different companies. We provide clients with a fully indexed database of information where clients can find specific market reports on their niche industry sectors of interest.


Author:
Mike King
e-mail
Web: www.companiesandmarkets.com
Phone: London: +44 (0) 203 086 8600

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com | BidVertiser