Wind Turbine Maintenance Market to Surpass US$ 39.8 Billion by 2031, Registering a CAGR of 9%
According to the report, The Global Wind Turbine Maintenance Market was being likely to garner a robust CAGR of 9% from 2021 to 2031. In 2020, the market for operations and maintenance of wind turbines was estimated at US$ 15.4 billion, and by the end of 2031, it is anticipated to reach US$ 39.8 billion.
Wind turbine is the device which converts kinetic energy of wind to electrical energy. It is majorly used for power generation. Small turbines are used for battery charging, traffic signals, auxiliary power for boats. Larger turbines generally used to a domestic power supply. Wind is a renewable, clean and free source of energy. Wind turbine can be use of one of the alternatives for power generation.
Increasing demand for power around the world is expected to drive the wind turbine maintenance market across the globe. Stringent governmental regulations and growing awareness regarding environment is expected to drive the market within the forecast period. Increasing operational and maintenance cost of the wind turbines is expected to be a restraining factor for the market growth. Nonetheless, huge investments in wind onshore and offshore projects is expected to raise the demand for wind turbine maintenance market over the years.
The global wind turbine maintenance market can be categorized on the basis of applications and geography. The application market segment has been categorized into onshore and offshore. Onshore wind turbine is the inexpensive renewable energy source. Offshore wind turbines are stronger and steadier electricity generator. These are generally used to convert wind energy into power.
Geographically, the global wind turbine maintenance market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Asia Pacific accounted for the largest market for wind turbine maintenance in 2015 it is expected to boost the market across the globe. Europe is emerging as good market place due to ample opportunities in wind power generation.
Some of the major players in the global wind turbine maintenance market include -
- EcoEnergy LLC
- Baywinds
- Orion International Consulting Group
- Upwind Solutions
- DNV GL AS.
- EcoEnergy LLC
- Invenergy
- Aeronautica WindPower.
The detailed description of players includes parameters such as company overview, financial overview, business and recent developments of the company.
This report segments the global solar fuel market as follows:
Global Wind Turbine Maintenance Market: Application Segment Analysis
- Onshore
- Offshore
Global Wind Turbine Maintenance Market: Regional Segment Analysis
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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