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Windtech International July August 2024 issue

 

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The global wind operations and maintenance (O&M) market is set to grow from just over $13.7 billion in 2016 to around $27.4 billion by 2025, representing a compound annual growth rate of 8.0%, according to research and consulting firm GlobalData. Offshore wind accounted for just over 8% of the total wind O&M market in 2016, and is expected to contribute 18.4% by 2025.

China is the largest wind O&M market in the world and accounted for 30% of the global market size in 2016. GlobalData expects that the country will maintain its leading position, with a share of 27.4% in 2025. Increasing installations of wind power will provide opportunities for O&M in the forecast period. The US is the second-largest wind O&M market, with a share of 14.6% in 2016, and is also expected to maintain its position in 2025. Germany – the largest European wind O&M market  – accounted for 14.3% of the global market in 2016, and is expected to hold an 11.9% share in 2025. The major reason for key countries losing their market share is the emergence of newer markets, such as India and the UK. India’s share of the global wind O&M market is expected to increase from 5.6% in 2016 to 6.4% in 2025, while the UK’s share will increase from 5.3% to 7.1% over the same period.

 
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