The global wind energy market has experienced significant growth, resulting in more than 460GW of installed capacity requiring ongoing operations and maintenance support. The O&M industry has responded to challenges in maintaining this fleet by flooding the aftermarket with innovations to reduce operating expenditures, increase energy output and maintain high levels of technical availability.
The revenue opportunity in global wind turbine services is expected to exceed US$ 27 billion by 2026, representing a 9% growth rate over the next decade. Further consolidation and competitive dynamics are a near certainty in the O&M sector as the global fleet continues to grow and operational excellence increases in focus by asset owners, OEMs and service providers. Many owners have decided to perform planned maintenance in-house, but are also presented with low-cost options available from Independent Service Providers (ISPs) as well as OEMs. Alternative business models are emerging, including owners that operate as 3rd party providers and turbine OEMs servicing competitor installed fleet. Turbine OEMs globally have taken notice of the promise of a robust O&M market, and are aggressively pursuing service agreements post-warranty. OEMs are marketing their competitive advantages, including advanced knowledge of the turbine technology, proprietary upgrades and access to spare part supply as selling points to adopt OEM aftermarket service. ISPs present an alternative to the turbine OEM for aftermarket service. ISP business models run a full spectrum from planned service to project-based maintenance, presenting many opportunities to asset owners seeking flexible, cost effective and reliable service. Asset owners, ISPs and OEMs interviewed by MAKE provided insight into services rationale, pricing levels, terms and the underlying forces that move the highly dynamic O&M market. The Global Wind Turbine Operations & Maintenance 2017 report by MAKE is global in scope and makes projections to the future developments in the services market.