Global Wind Power Services Market, Forecast to 2025

  • ID: 4438665
  • Report
  • Region: Global
  • 130 Pages
  • Frost & Sullivan
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A $25 billion Market by 2025, Driven by a Higher Installed Capacity and Increasing Repowering of the Ageing Installed Base

FEATURED COMPANIES

  • Adwen
  • Enercon
  • GE
  • Hitachi
  • Inventus
  • Mtorres
  • MORE

The global wind services market is expected to be worth $25 billion by 2025, up from $9 billion in 2016, driven by an ageing installed base in Europe and North America (including a significant potential for repowering projects) and substantial new capacity additions in Asia-Pacific. There will also be incremental innovations that will drive revenue. Of total global revenues, 45.9% will be contributed by North America and Europe in 2025, while China will account for 38% of total revenue. At a country level, besides the top four countries (China, the US, Germany, and India), new investment in Brazil, France, Spain, and the UK drives growth. Despite a growing preference for in-house services (as wind farm operators look for ways to minimise costs), a majority of wind services will continue to be outsourced to OEMs, or at the very least they are supporting in-house servicing activity. Major wind farm operators are reaching a situation where the size of the asset base they have outside of warranty makes investing in in-house capabilities viable. In 2016, 280GW of wind capacity was outside of the warranty period; this will have reached 620GW by 2025.

Pressure on capex and opex costs will continue to build as wind farm operators look to minimse costs to compete in subsidy free projects – recent projects have shown what is achievable. The biggest uncertainty for wind farm operators as the feed-in tariff era ends in Europe is electricity pricing – less certainty in revenues makes new investment and cost decisions harder to take. Significant recent M&A activity driving consolidation - more is likely to exploit economies of scale and drive operational efficiency - also at the component level. At the same time reverse engineering enables more to compete and new participants could well emerge to take the place of those that have been acquired (service). Collaboration the industry watchword – the power of OEMs is weakening, but wind farm operators are aware of the benefits of working with wind OEMs for the future.

Consolidation in the industry is set to continue, with wind turbine OEMs acquiring ISPs in order to try and defend market share and as part of a wider multi-brand strategy to enable them to service competing brands. However, many acquisitions are likely to retain their branding to preserve the independent profile. Guaranteed availability and real-time access to performance data are increasingly present in the market and gradually featuring as key elements in wind servicing contracts.

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FEATURED COMPANIES

  • Adwen
  • Enercon
  • GE
  • Hitachi
  • Inventus
  • Mtorres
  • MORE

1. Executive Summary

  • Key Findings
  • Market Engineering Measurements
  • CEO’s Perspective
  • Associated Multimedia and Related Research

2. Market Overview

  • Market Definitions
  • Key Questions This Study Will Answer
  • Market Segmentation by Region

3. Key Service Requirements and Trends

  • Wind Power Services - Key Issues
  • Wind Power Services - Downtime per Malfunction
  • Wind Power Services - Value Proposition
  • Wind Power Services - Out-of-warranty Market
  • Factors Impacting Wind Power O&M Strategy
  • Key Services and O&M Offerings
  • Comparison of Service Contracts
  • Industry Trend - Predictive Maintenance
  • Wind Services - Key Performance Indicators
  • Industry Trend - Multi-brand Strategy
  • Service Requirements of Components
  • Service Requirements of Components Discussion
  • Service Requirements of Gearboxes
  • Service Requirements of Bearings
  • Service Requirements of Generators
  • Service Requirements of Blades
  • Service Requirements of Control Systems/SCADA
  • Service Requirements of Basements
  • Service Requirements of Towers

4. Business Models, Technology and Pricing

  • Wind Power Services Business Models
  • Technology Trends - Reverse Engineering
  • Technology Trends - Remote and Condition-based Monitoring
  • Pricing Analysis - Onshore O&M
  • Pricing Analysis - Offshore O&M
  • Pricing Trends - LTSAs
  • Levelised Cost of Electricity Analysis

5. Drivers and Restraints - Wind Power Services Market

  • Market Drivers and Restraints
  • Market Drivers
  • Drivers Explained
  • Market Restraints
  • Restraints Explained

6. Forecasts and Trends - Wind Power Services Market

  • Market Engineering Measurements
  • Forecast Assumptions
  • Revenue Forecast
  • Global Prospects
  • Revenue Forecast by Region
  • Regional Life Cycle Assessment
  • Revenue Forecast Discussion by Region
  • Revenue Forecast by Top Countries
  • Key Regional Market Highlights
  • Revenue Forecast Discussion by Top Countries
  • Comparison of Growth Rates Across Key Countries
  • Revenue Forecast by Technology
  • Revenue Forecast Discussion by Onshore Technology
  • Revenue Forecast Discussion by Offshore Technology

7. Market Share and Competitive Analysis - Wind Power Services Market

  • Competitive Analysis - Market Share
  • Market Share Analysis
  • Competitive Environment
  • Top Competitors
  • Strategic Analysis - Competitive Forces

8. Growth Opportunities and Companies to Action

  • Growth Opportunity 1 - Investment/M&A
  • Growth Opportunity 2 - Geographic Expansion
  • Growth Opportunity 3 - Vertical Integration
  • Strategic Imperatives for OEMs and ISPs

9. CEO’S 360 Degree Perspective on the Wind Power Services Market

  • CEO’s 360 Degree Perspective

10. North America Analysis

  • Key Findings
  • Revenue Forecast
  • Revenue Forecast Discussion
  • Revenue Forecast by Region
  • Revenue Forecast by Technology
  • Market Share
  • Competitive Environment

11. Europe Analysis

  • Key Findings
  • Revenue Forecast
  • Revenue Forecast by Region
  • Revenue Forecast by Region Discussion
  • Revenue Forecast by Technology
  • Market Share
  • Competitive Environment

12. Asia-Pacific Analysis

  • Key Findings
  • Revenue Forecast
  • Revenue Forecast by Region
  • Revenue Forecast Discussion by Region
  • Revenue Forecast by Technology
  • Market Share
  • Competitive Environment

13. Latin America Analysis

  • Key Findings
  • Revenue Forecast
  • Revenue Forecast by Region
  • Revenue Forecast Discussion by Region
  • Revenue Forecast by Technology
  • Market Share
  • Competitive Environment

14. Middle East and Africa Analysis

  • Key Findings
  • Revenue Forecast
  • Revenue Forecast by Technology
  • Market Share
  • Competitive Environment

15. The Last Word

  • The Last Word - 3 Big Predictions
  • Legal Disclaimer

16. Appendix

  • Market Engineering Methodology
  • Learn More - Next Steps
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  • Adwen
  • Alpha
  • Enercon
  • Gamesa
  • GE
  • Goldwind
  • Hitachi
  • Impsa
  • Inventus
  • Leitwind
  • Mtorres
  • Nordex-Acciona
  • Senvion
  • Siemens
  • Vestas
  • Windwind
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