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Wind Turbine Services Market In Europe: Segmentation Analysis
The market research report segments the wind turbine services market in Europe by Type (OEM, ISP, and in-house), Application (onshore and offshore), and Geography (Germany, UK, Spain, Rest of the European Union, and Rest of Europe).
The wind turbine services market share growth in Europe by the OEM segment will be significant during the forecast period. OEMs in the wind industry provide wind turbine services to wind farm owners for the wind turbines sold to them directly in the form of warranty or service agreements. Repair and maintenance activities are expected to be the major revenue generators for the OEMs. The repowering of wind turbines due to the presence of aging wind farms will also contribute a major share of revenue to the OEMs. The rise in the number of upcoming projects in Europe in both onshore and offshore environments will drive the OEM segment during the forecast period
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Wind Turbine Services Market in Europe: Rise in wind energy consumption to drive growth
Countries are shifting their focus from non-renewable sources of energy to renewable sources to produce power. Wind power is considered to be the most efficient source of power among all renewable energy sources. Europe held 59% of new wind capacity installations in 2019 and remained the largest market for offshore wind power. The increased focus of this region to tap wind energy potential bodes well for the growth of the wind turbine monitoring systems. Thus, the growing installation of wind turbines will add to the application of wind turbine monitoring systems and thus drive demand in the market focus during the forecast period. Countries such as Denmark, Spain, Germany, and the UK produce over 10% of their power by using wind energy. With increased wind energy consumption, it is expected that the demand for wind turbine monitoring systems will grow over the next few years.
Wind Turbine Services Market in Europe: Intermittency associated with the generation of power from renewable sources to hamper growth
Intermittency is a common challenge associated with the generation of power from renewable sources. Unlike solar PV and water, the availability of wind is not uniform. The wind speed is low during the night and increases at dawn. It remains high throughout the day and reaches its maximum by dusk. Fluctuations in the wind speed depend on seasons as well. For instance, the wind speed is high during winter and low during summer. The deployment of backup solutions can address the intermittency of wind power to an extent. However, climatic changes can cause uncertainty in generating wind power. Therefore, the intermittency of wind power affects the adoption of wind turbines, which is expected to hinder the growth of the wind turbine services market in Europe during the forecast period.
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Wind Turbine Services Market In Europe Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.21% |
Market growth 2021-2025 |
USD 2.21 billion |
Market structure |
Fragmented |
YoY growth (%) |
8.02 |
Performing market contribution |
Rest of the European Union at 40% |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
E.ON SE, Emergya Wind Technologies BV, Enercon Services Inc., Fassmer Industrial Service GmbH and Co. KG, General Electric Co., Global Wind Service, Nordex SE, Repower AG, Siemens AG, and Vestas Wind System AS |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Content
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Onshore - Market size and forecast 2020-2025
- Offshore - Market size and forecast 2020-2025
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type
- OEM - Market size and forecast 2020-2025
- ISP - Market size and forecast 2020-2025
- In-house - Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- Germany - Market size and forecast 2020-2025
- UK - Market size and forecast 2020-2025
- Spain - Market size and forecast 2020-2025
- Rest of European Union - Market size and forecast 2020-2025
- Rest of Europe - Market size and forecast 2020-2025
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- E.ON SE
- Emergya Wind Technologies BV
- Enercon Services Inc.
- Fassmer Industrial Service GmbH and Co. KG
- General Electric Co.
- Global Wind Service
- Nordex SE
- Repower AG
- Siemens AG
- Vestas Wind System AS
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio
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