Global Wind Power Services Market, Forecast to 2025

A $25 billion Market by 2025, Driven by a Higher Installed Capacity and Increasing Repowering of the Ageing Installed Base

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The global wind services market is expected to be worth $25 billion by 2025, up from $9 billion in 2016, driven by an ageing installed base in Europe and North America (including a significant potential for repowering projects) and substantial new capacity additions in Asia-Pacific. There will also be incremental innovations that will drive revenue. Of total global revenues, 45.9% will be contributed by North America and Europe in 2025, while China will account for 38% of total revenue. At a country level, besides the top four countries (China, the US, Germany, and India), new investment in Brazil, France, Spain, and the UK drives growth. Despite a growing preference for in-house services (as wind farm operators look for ways to minimise costs), a majority of wind services will continue to be outsourced to OEMs, or at the very least they are supporting in-house servicing activity. Major wind farm operators are reaching a situation where the size of the asset base they have outside of warranty makes investing in in-house capabilities viable. In 2016, 280GW of wind capacity was outside of the warranty period; this will have reached 620GW by 2025.

Pressure on capex and opex costs will continue to build as wind farm operators look to minimse costs to compete in subsidy free projects – recent projects have shown what is achievable. The biggest uncertainty for wind farm operators as the feed-in tariff era ends in Europe is electricity pricing – less certainty in revenues makes new investment and cost decisions harder to take. Significant recent M&A activity driving consolidation – more is likely to exploit economies of scale and drive operational efficiency – also at the component level. At the same time reverse engineering enables more to compete and new participants could well emerge to take the place of those that have been acquired (service). Collaboration the industry watchword – the power of OEMs is weakening, but wind farm operators are aware of the benefits of working with wind OEMs for the future.

Consolidation in the industry is set to continue, with wind turbine OEMs acquiring ISPs in order to try and defend market share and as part of a wider multi-brand strategy to enable them to service competing brands. However, many acquisitions are likely to retain their branding to preserve the independent profile. Guaranteed availability and real-time access to performance data are increasingly present in the market and gradually featuring as key elements in wind servicing contracts.

Table of Contents

1. Executive Summary
Key Findings
Market Engineering Measurements
CEO’s Perspective
Associated Multimedia and Related Research
2. Market Overview
Market Definitions
Market Segmentation by Region
3. Key Service Requirements and Trends
Wind Power Services—Key Issues
Wind Power Services—Downtime per Malfunction
Wind Power Services—Value Proposition
Wind Power Services—Out-of-warranty Market
Factors impacting Wind Power O&M Strategy
Key Services and O&M Offerings
Comparison of Service Contracts
Industry Trend—Predictive Maintenance
Wind Services—Key Performance Indicators
Industry Trend—Multi-brand Strategy
Service Requirements of Components
Service Requirements of Gearboxes
Service Requirements of Bearings
Service Requirements of Generators
Service Requirements of Blades
Service Requirements of Control Systems/SCADA
Service Requirements of Basements
Service Requirements of Towers
4. Business Models, Technology and Pricing
Wind Power Services Business Models
Technology Trends—Reverse Engineering
Technology Trends—Remote and Condition-based Monitoring
Pricing Analysis—Onshore O&M
Pricing Analysis—Offshore O&M
Pricing Trends—LTSAs
Levelised Cost of Electricity Analysis
5. Drivers and Restraints—Wind Power Services Market
Market Drivers and Restraints
Market Drivers
Market Restraints
6. Forecasts and Trends—Wind Power Services Market
Market Engineering Measurements
Wind Power Services Revenue Forecast
Global Prospects
Revenue Forecast by Region
Regional Life Cycle Assessment
Revenue Forecast by Top Countries
Key Regional Market Highlights
Comparison of Growth Rates Across Key Countries
Revenue Forecast by Technology
7. Market Share and Competitive Analysis—Wind Power Services Market
Competitive Analysis—Market Share
Market Share Analysis
Competitive Environment
Top Competitors
Strategic Analysis—Competitive Forces
8. Growth Opportunities and Companies to Action
Growth Opportunity 1—Investment/M&A
Growth Opportunity 2—Geographic Expansion
Growth Opportunity 3—Vertical Integration
Strategic Imperatives for OEMs and ISPs
9. CEO’S 360 Degree Perspective on the Wind Power Services Market
CEO’s 360 Degree Perspective
10. North America Analysis
Key Findings
Revenue Forecast
Revenue Forecast by Region
Revenue Forecast by Technology
Market Share
Competitive Environment
11. Europe Analysis
Key Findings
Revenue Forecast
Revenue Forecast by Region
Revenue Forecast by Technology
Market Share
Competitive Environment
12. Asia-Pacific Analysis
Key Findings
Revenue Forecast
Revenue Forecast by Region
Revenue Forecast by Technology
Market Share
Competitive Environment
13. Latin America Analysis
Key Findings
Revenue Forecast
Revenue Forecast by Region
Revenue Forecast by Technology
Market Share
Competitive Environment
14. Middle East and Africa Analysis
Key Findings
Revenue Forecast
Revenue Forecast by Technology
Market Share
Competitive Environment
15. The Last Word
The Last Word—3 Big Predictions
Legal Disclaimer
16. Appendix
Market Engineering Methodology
Learn More—Next Steps

Infographic



List of Figures & Charts

1. Wind Power Services Market: Regional Scope, Global, 2016
2. Wind Power Services Market: Key Issues, Global, 2016
3. Wind Power Services Market: Key Enablers impacting Services Strategy, Global, 2016
4. Wind Power Services Market: Key Services and O&M Offerings, Global, 2016
5. Wind Power Services Market: Service Requirements of Components, Global, 2016
6. Wind Power Services Market: Service Requirements of Components-Gearboxes, Global, 2016
7. Wind Power Services Market: Service Requirements of Components-Bearings, Global, 2016
8. Wind Power Services Market: Service Requirements of Components-Generators, Global, 2016
9. Wind Power Services Market: Service Requirements of Components-Blades, Global, 2016
10. Wind Power Services Market: Service Requirements of Components-Control Systems/SCADA, Global, 2016
11. Wind Power Services Market: Service Requirements of Components-Basements, Global, 2016
12. Wind Power Services Market: Service Requirements of Components-Towers, Global, 2016
13. Wind Power Services Market: Business Models, Global, 2016
14. Wind Power Services Market: Business Models, Global, 2016
15. Wind Power Services Market: Pricing Analysis - Onshore, Global, 2016
16. Wind Power Services Market: Pricing Analysis - Offshore, Global, 2016
17. Wind Power Services Market: LCOE, Global, 2016
18. Wind Power Services Market: Key Market Drivers, Global, 2017–2025
19. Wind Power Services Market: Key Market Restraints, Global, 2017–2025
20. Wind Power Services Market: Market Engineering Measurements, Global, 2016
21. Wind Power Services Market: Revenue Forecast by Top Countries, Global, 2016–2025
22. Wind Power Services Market: Mergers and Acquisitions, Global, 2016
23. Wind Power Services Market: Competitive Structure, Global, 2016
24. Wind Power Services Market: SWOT Analysis, Global, 2016
25. Wind Power Services Market: Five Forces Model, Global, 2016
26. Wind Power Services Market: CEO’s 360 Degree Perspective, Global, 2016
27. Wind Power Services Market: Competitive Structure, North America, 2016
28. Wind Power Services Market: Competitive Structure, Europe, 2016
29. Wind Power Services Market: Competitive Structure, Asia-Pacific, 2016
30. Wind Power Services Market: Competitive Structure, Latin America, 2016
31. Wind Power Services Market: Competitive Structure, Middle East and Africa, 2016


1. Wind Power Services Market: Revenue Forecast by Region, Global, 2016–2025
2. Wind Power Services Market: Percent of Sales, Global, 2016
3. Wind Power Services Market: Market Engineering Measurements, Global, 2016
4. Wind Power Services Market: Percent Revenue by Region, Global, 2016
5. Wind Power Services Market: Downtime per Malfunction, Global, 2016
6. Wind Power Services Market: Value Proposition, Global, 2016
7. Wind Power Services Market: Cumulative Capacity Versus Out of Warranty Market, Global, 2016–2025
8. Wind Power Services Market: Predictive Maintenance, Global, 2016
9. Wind Power Services Market: Key Performance Indicators, Global, 2016
10. Wind Power Services Market: Business Models, Global, 2016
11. Wind Power Services Market: Reverse Engineering, Global, 2016
12. Wind Power Services Market: LCOE, Global, 2016
13. Wind Power Services Market: Key Market Drivers and Restraints, Global, 2017–2025
14. Wind Power Services Market: Revenue Forecast, Global, 2016–2025
15. Wind Power Services Market: Revenues and CAGR of Key Regions, Global, 2016
16. Wind Power Services Market: Revenue Forecast by Region, Global, 2016–2025
17. Wind Power Services Market: Revenues and CAGR, Global, 2016-2025
18. Wind Power Services Market: Life Cycle Assessment, Global, 2016
19. Wind Power Services Market: Revenue Forecast by Region, Global, 2016, 2020 and 2025
20. Wind Power Services Market: CAGR of Key Countries, Global, 2016
21. Wind Power Services Market: Revenue Forecast by Technology, Global, 2016–2025
22. Wind Power Services Market: Revenue Forecast by Onshore Technology, Global, 2016, 2020, and 2025
23. Wind Power Services Market: Revenue Forecast by Offshore Technology, Global, 2016, 2020, and 2025
24. Wind Power Services Market: Percent of Sales, Global, 2016
25. Wind Power Services Market: Revenue Forecast, North America, 2016–2025
26. Wind Power Services Market: Revenue Forecast, North America, 2016, 2020, and 2025
27. Wind Power Services Market: Revenue Forecast by Region, North America, 2016–2025
28. Wind Power Services Market: Revenue Forecast by Technology, North America, 2016–2025
29. Wind Power Services Market: Percent of Sales, North America, 2016
30. Wind Power Services Market: Revenue Forecast, Europe, 2016–2025
31. Wind Power Services Market: Revenue Forecast by Region, Europe, 2016–2025
32. Wind Power Services Market: Revenue Forecast by Region, Europe, 2016, 2020, and 2025
33. Wind Power Services Market: Revenue Forecast by Technology, Europe, 2016–2025
34. Wind Power Services Market: Percent of Sales, Europe, 2016
35. Wind Power Services Market: Revenue Forecast, Asia-Pacific, 2016–2025
36. Wind Power Services Market: Revenue Forecast by Region, Asia-Pacific, 2016–2025
37. Wind Power Services Market: Revenue Forecast by Region, Asia-Pacific, 2016, 2020 and 2025
38. Wind Power Services Market: Revenue Forecast by Technology, Asia-Pacific, 2016–2025
39. Wind Power Services Market: Percent of Sales, Asia-Pacific, 2016
40. Wind Power Services Market: Revenue Forecast, Latin America, 2016–2025
41. Wind Power Services Market: Revenue Forecast by Region, Latin America, 2016–2025
42. Wind Power Services Market: Revenue Forecast by Region, Latin America, 2016, 2020, and 2025
43. Wind Power Services Market: Revenue Forecast by Technology, Latin America, 2016–2025
44. Wind Power Services Market: Percent of Sales, Latin America, 2016
45. Wind Power Services Market: Revenue Forecast, Middle East and Africa, 2016–2025
46. Wind Power Services Market: Revenue Forecast by Technology, Middle East and Africa, 2016–2025
47. Wind Power Services Market: Percent of Sales, Middle East and Africa, 2016



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