Wind turbine operations and maintenance market witnesses increased mergers and acquisitions among key players

The increasing focus on renewable energy has led governments and private organizations to harness wind energy to generate electricity. The increasing number of offshore and onshore wind turbines requires continuous maintenance. The rising incidents of gearbox and generator assembly failures have further propelled the demand for wind turbine operations and maintenance. The global wind turbine operations and maintenance market is anticipated to expand at a CAGR of 8.8% during the period from 2015 to 2023.

The wind turbine operations and maintenance services include remote monitoring, maintenance, operations, asset administration, and repair of wind turbines. These services can be scheduled or unscheduled maintenance services. The various components of wind turbine that require maintenance at regular intervals are generator, rotor blade, gear box, tower, inverter, and brakes.

Europe Emerged as Leading Region in Global Wind Turbine Operations and Maintenance Market in 2014

In 2014, Europe was the leading region in the global wind turbine operations and maintenance market. A number of European countries have focused on renewable sources of energy to cut down their carbon footprints. The European Union has aimed to reduce the emission of greenhouse gases by 20% in 2020 compared to the emission levels in 1990. The presence of some of the leading market players has also supported the growth of the market in Europe.

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However, in the near future, the market is anticipated to witness the fastest growth across the rest of the world. Asia Pacific is projected to emerge as the second fastest-growing market for wind turbine operations and maintenance.

Competitive Landscape of Wind Turbine Operations and Maintenance Market is Fast Evolving with Partnerships among Key Players

Some of the leading vendors in the global wind turbine operations and maintenance market are Nordex SE, Enercon GmbH, Gamesa Corporación Tecnológica, GE Wind Turbine, Vestas Wind Systems A/S, Xinjiang Goldwind Science & Technologies, Co. Ltd., Siemens Wind Power GmbH, Guodian United Power Technology Company Ltd., Upwind Solutions Inc., and Suzlon Group. The market players are focusing on mergers and acquisition to expand their businesses.

Recently, Germany-based Siemens Wind Power GmbH has agreed to pay US$1.13 bn to acquire a majority stake in the combined business with Spain’s Gamesa. While Gamesa expertises across the developing markets, Siemens specializes in offshore wind turbine operations. This joint venture would overtake Denmark-based Vestas as the leading wind farm manufacturer. Gamesa has an existing joint venture, Adwen, with France’s state-owned energy form Areva. GE Wind Turbine is focussing on the offshore wind turbine operations and has shown interest in acquiring Adwen.

Furthermore, technology companies such as Google Inc. are showing interest in running their operations on renewable energy. Google has recently purchased 236 MW of renewable energy from two wind farms located in Sweden and Norway. Such developments are supporting the growth of the global wind turbine operations and maintenance market.

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