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North American Wind Power Plant Services Market
Frost & Sullivan, Nov 2011, Pages: 47
The North American wind power plant services study details the market driving and restraining forces that are currently existing in the market. The study also discusses some of the challenges the industry is likely to face during the forecast period. Implications of the market dynamics and industry challenges during the forecast period (2010-2017) have also been analyzed. Furthermore, the market study discusses the current issues faced by the market, revenue forecasts, market trends, and the competitive analysis. The study discusses about pricing, servicing type and the future trends of these services in the North American wind power plant services market.
Power plant services are the services offered by suppliers for power plants in the post-commissioning environment. Power plant services enable the plant operators to manage operational risks, including the engineering, planning, and supply chain functions. With rising energy prices and concerns about greenhouse gas emissions, there is increased focus on alternative renewable energy. In particular, wind and solar installations are growing faster than any other renewable energy options available in the market. In 2010, the installed capacity of wind turbines in the United States was close to x.x GW. By 2017, the installed capacity of wind turbines is expected to reach more than xxx.x GW.
Such strong growth in the wind turbine installed capacity is expected to increase the services market as well. The services market is expected to register a compound annual growth rate (CAGR) of xx.x percent for the period 2010 to 2017. Although increased installed capacity and government incentives are driving the market, the lack of standardization, high O&M costs, and longer lead times are likely to slow down the market growth during the forecast period. The outsourcing of service to third-party service providers is expected to increase because it enables the operators to focus more on their key business objectives. O&M accounts for xx percent to xx percent of total production costs per kilowatt hour, hence the future of the servicing business in North America looks promising.
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