Aging wind turbines and the failure of components such as blades and gearboxes are the major drivers of the rapidly growing O&M market.
Anchal Agarwal, Power Analyst for GlobalData, stated: “Offshore wind accounted for just over 8% of the total wind O&M market in 2016, and is expected to contribute 18.4% by 2025. This is because the technology is increasingly being explored across the world, for its high yield, due to stronger and more consistent winds in comparison to onshore; and has the scope to construct massive Gigawatt-scale projects.
“Indeed, offshore wind attracts higher O&M costs than onshore wind due to higher turbine maintenance, higher logistics costs, and a lack of skilled manpower.”
The report states China is expected to maintain its current position as the largest wind O&M market worldwide with the United States holding on to the number two spot. Germany –the largest European wind O&M market – accounted for 14.3% of the global market in 2016, and is expected to hold an 11.9 percent share in 2025.
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