Global Market for Wind Turbine Services is projected to be valued at USD 17,533.1 Million by 2026, with a 7.21% CAGR during the forecast period, 2020–2026. Wind turbine services include maintenance and repair services required for the wind turbine project.
Global Wind Turbine Services Market, 2020–2026
In 2019, North America Dominated the Wind turbine Services Market in Terms of Share: MRFR
The Wind Turbine Services Market has been segmented into five regions: Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. North America is likely to hold the largest share of the market during the forecast period. The high market share of North America is attributed to the significant contracts that are planned or executed to boost the market. For instance, In May 2019, Siemens Gamesa entered into a four-year O&M contract with Pattern Energy (US) for its 218-MW Panhandle Wind 1 facility, consisting of 118 units of 1.85-87 MW GE wind turbines, under which the company started servicing the turbines in Carson County, Texas Additionally, rising investments and government initiatives to support the renewable industry in North American countries are expected to drive the demand for wind turbine services in the regional market during the study period.
The global wind turbine services market has been classified based on type and application. Based on type, the wind turbine services market is divided into original equipment manufacturer (OEM), independent service provider (ISP), and in-house. The OEM segment is anticipated to hold the largest share in the global market during the forecast period as OEMs operate on a broad scale and offer a broad product portfolio. They produce equipment and parts that may be marketed by another manufacturer. Such factors lead to the large market share of the OEM segment.
Global Wind Turbine Services Market is projected to grow at a 7.21% CAGR during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the Wind Turbine Services Market Analysis, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights the market size and shares for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Wind turbine services market by type, application, and region.
- Original Equipment Manufacturer (OEM)
- Independent Service Provider (ISP)
- Others (Thermoplastic Polyurethane (TPU) and Polyolefin
- By Region
- North America
- Middle East & Africa
- South America
The Key Players operating in the Global Wind Turbine Services Market are Siemens Wind Power GmbH, Suzlon Group, Enercon GmbH, Gamesa Corporation DNV GL AS, Aeronautica Windpower, EcoEnergy LLC, Baywinds, Invenergy, Upwind Solutions, Orion International Consulting Group, LLC, and GE Wind Turbine
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