Global Wind Power Services Market, Forecast to 2025

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

RELEASE DATE
24-Nov-2017
REGION
Global
Research Code: MCC6-01-00-00-00
SKU: EG01844-GL-MR_21172
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Description

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.

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Market Engineering Measurements

CEO’s Perspective

Associated Multimedia and Related Research

Market Definitions

Market Segmentation by Region

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

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

Market Drivers and Restraints

Market Drivers

Market Restraints

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

Competitive Analysis—Market Share

Market Share Analysis

Competitive Environment

Top Competitors

Strategic Analysis—Competitive Forces

Growth Opportunity 1—Investment/M&A

Growth Opportunity 2—Geographic Expansion

Growth Opportunity 3—Vertical Integration

Strategic Imperatives for OEMs and ISPs

Key Findings

Revenue Forecast

Revenue Forecast by Region

Revenue Forecast by Technology

Market Share

Competitive Environment

Key Findings

Revenue Forecast

Revenue Forecast by Region

Revenue Forecast by Technology

Market Share

Competitive Environment

Key Findings

Revenue Forecast

Revenue Forecast by Region

Revenue Forecast by Technology

Market Share

Competitive Environment

Key Findings

Revenue Forecast

Revenue Forecast by Region

Revenue Forecast by Technology

Market Share

Competitive Environment

Key Findings

Revenue Forecast

Revenue Forecast by Technology

Market Share

Competitive Environment

The Last Word—3 Big Predictions

Legal Disclaimer

Market Engineering Methodology

Learn More—Next Steps

List of Figures
  • 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
List of Charts
  • 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
Related Research
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 w
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Table of Contents | Executive Summary~ || Key Findings~ || Market Engineering Measurements~ || CEO’s Perspective~ || Associated Multimedia and Related Research~ | Market Overview~ || Market Definitions~ || Market Segmentation by Region~ | 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~ | 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~ | Drivers and Restraints—Wind Power Services Market~ || Market Drivers and Restraints~ || Market Drivers~ || Market Restraints~ | 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~ | Market Share and Competitive Analysis—Wind Power Services Market~ || Competitive Analysis—Market Share~ || Market Share Analysis~ || Competitive Environment~ || Top Competitors~ || Strategic Analysis—Competitive Forces~ | 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~ | CEO’S 360 Degree Perspective on the Wind Power Services Market~ || CEO’s 360 Degree Perspective~ | North America Analysis~ || Key Findings~ || Revenue Forecast~ || Revenue Forecast by Region~ || Revenue Forecast by Technology~ || Market Share~ || Competitive Environment~ | Europe Analysis~ || Key Findings~ || Revenue Forecast~ || Revenue Forecast by Region~ || Revenue Forecast by Technology~ || Market Share~ || Competitive Environment~ | Asia-Pacific Analysis~ || Key Findings~ || Revenue Forecast~ || Revenue Forecast by Region~ || Revenue Forecast by Technology~ || Market Share~ || Competitive Environment~ | Latin America Analysis~ || Key Findings~ || Revenue Forecast~ || Revenue Forecast by Region~ || Revenue Forecast by Technology~ || Market Share~ || Competitive Environment~ | Middle East and Africa Analysis~ || Key Findings~ || Revenue Forecast~ || Revenue Forecast by Technology~ || Market Share~ || Competitive Environment~ | The Last Word~ || The Last Word—3 Big Predictions~ || Legal Disclaimer~ | Appendix~ || Market Engineering Methodology~ || Learn More—Next Steps~
List of Charts and Figures 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~
Author Pritil Gunjan
Industries Energy
WIP Number MCC6-01-00-00-00
Keyword 1 Wind Power Services, wind farm operators
Is Prebook No