Wind Turbine Services Market by Type (24-hour Wind Turbine Services, 16-hour Wind Turbine Services),Application (Male, Female),Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026.
The global wind turbine services market is expected to grow from USD xx Billion in 2018 to USD xx Billion by 2026 at a CAGR of xx% during the forecast period from 2019-2026. Increasing number of offshore wind turbines and supportive government’s efforts to encourage the adoption of renewable source of energy such as wind power are the two factors affecting the demand of the market
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The offshore manufacturers segment is dominating the market with the highest share of 39.90% in 2018
The application segment is segmented into onshore and offshore. The offshore segment is growing rapidly with the highest CAGR in the forecast period. Offshore turbines offer higher efficiency than onshore counterparts; however, they incur higher installation costs and consequently, operating costs increase.
OEM segment dominated the market and valued around USD 601.03Billion in 2018
The type segment is segmented into OEM, ISP and in-house. The OEMsegment is dominating the market in 2018 with the highest share in 2018.An Original Equipment Manufacturer (OEM) is a company that produces parts and equipment that may be marketed by another manufacturer.
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Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America is dominating the market as the region dominated the offshore installation category, and also incurs high operations & maintenance costs. The Asia Pacific region is anticipated to grow to meet its growing energy needs, and in a bid to limit smog-causing pollution from coal plants and act on climate change. China overtook Europe as the world’s largest regional wind market, installing half of all the new wind capacity additions worldwide. Similarly, huge investments are also expected to be scaled up in countries such as India, South Korea, and Japan, which would further supplement the demand for wind turbine MRO services in the region during the forecast period
The major players of market include Siemens Wind Power GmbH, Suzlon Group, GE Wind Turbine, Enercon GmbH, and Gamesa Corporation DNV GL AS., Upwind Solutions, AeronauticaWindPower, EcoEnergy LLC, Baywinds, Invenergy and Orion International Consulting Group, LLC.
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