- Published: 17 July 2015 17 July 2015
MAKE forecasts global wind turbine operations and maintenance (O&M) revenues to exceed US$ 19 billion by 2024, a 9% growth rate over the next decade. Worldwide turbine installations have surpassed 350GW, with post warranty service opportunities increasing rapidly given approximately 50% of new turbine installations have occurred over the past five years.
Interest in the O&M market has escalated across the globe due to volatility in demand for new turbine installations and a need to seek out new profit pools. A sustained assault on the aftermarket has yielded a number of new product offerings, commercialisation blitzes and value chain iterations, all aimed at maximizing profit and building market share. In terms of technology deployment, the need to unlock the power of data is becoming more pronounced, as asset owners seek to leverage vast data libraries in an effort to implement cost optimization strategies and predict future failures of major components. In today’s market, upgrades and retrofits for increased energy production and improved reliability have taken hold globally, while low cost up-tower repair technologies have become commonplace. Automation in asset management, component inspection and repair techniques are evolving and offer a glimpse into the O&M market of tomorrow.