Latest Issue
 
Windtech International May June 2024 issue

 

FOLLOW US AT

follow

 

follow


With wind energy capacity growing at a rapid pace, the value of the operations and maintenance (O&M) market is expected to increase from US$ 3 billion in 2008 to US$ 19 billion by 2020, says research and consulting firm GlobalData.
 
According to the company’s latest report , more than 187GW of wind power capacity was added between 2008 and 2012, which has drastically increased O&M expenditure from US$ 3 billion to US$ 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 US$ 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 GlobalData expects that China will surpass it to become the leader in O&M expenditure, with a 24.7% share of the market by 2020. According to the report, 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.
 
Use of cookies

Windtech International wants to make your visit to our website as pleasant as possible. That is why we place cookies on your computer that remember your preferences. With anonymous information about your site use you also help us to improve the website. Of course we will ask for your permission first. Click Accept to use all functions of the Windtech International website.