Wind Turbine MRO Market Size, Industry Trends Report | 2030
Wind Turbine MRO Market Size, Industry Trends Report | 2030
Segments - Wind Turbine MRO Market by Location of Deployments (On-shore and Off-shore), Service Types (Overhaul, Repairs, and Maintenance), Component (Gearbox, Rotor Blades, Generator, and Others) Regions (Asia Pacific, Europe, North America, South America, and Middle- East and Africa) – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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| Report ID :ICT-SE-2684
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| 202 Pages
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Report Description
The global wind turbine MRO market size was valued at USD 81.75 billion in 2020 and is anticipated to expand at a robust CAGR during the forecast period, 2021-2028. Growth of the market is attributed to increasing number of wind power generation plant and efforts on reducing the dependency on fossil resources for energy generation.
Growing number of offshore deployment of the wind turbine is most likely to boost the global wind turbine market in the coming years.
Technological advancement for more efficient and reliable turbine makes power more cost-effective. Moreover, government initiative towards the depleting natural resources and exploration for the alternative energy is likely to boost the market.
The COVID-19 pandemic affected the demand and supply of global wind turbine MRO market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Rising awareness towards environment from coal based generated power plant is estimated to drive the market in the coming years.
- Increasing number of wind generation power plants is estimated to fuel the market in the coming years.
- High cost of production, consistent investments, and high installation cost for turbines posses a major challenge that can hinder the market growth.
- Growing awareness towards the cleaner and alternative source of energy such as solar can hinder the growth of the market during the projected period.
- R&D investment and technological advancement towards reducing the cost of production using wind energy in the near future is anticipated to create a lucrative opportunities for the market players.
Scope of the market
The report on wind turbine MRO market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Wind turbine MRO market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Location of Deployments (On-shore and Off-shore), Service Types (Overhaul, Repairs, and Maintenance), Component (Gearbox, Rotor Blades, Generator, and Others) |
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Regional Scope |
Asia Pacific, Europe, North America, South America, and Middle- East and Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
General Electric Company; Siemens Gamesa Renewable Energy SA; ABB Ltd; Suzlon Energy; Vestas Wind Systems A/S. |
Market Segment Insights
The off-shore segment is expected to hold key share of the market
On the basis of location of deployment, the market is bifurcated into on-shore and off-shore. The off-shore segment is expected to hold a key share of the market owing to enhancement in the technology and increasing adoption of offshore wind turbines is most likely to attract companies and countries for high investments.
The maintenance segment is anticipated to expand at a rapid pace
Based on service types, the market is fragmented into overhaul, repairs, and maintenance. The maintenance segment is anticipated to account for large share in the market during the forecast period due to rising awareness & number of electric vehicle, maintenance repair operations of turbines and concerns towards impact on environment emission from coal based power plant.
The rotor blade segment is anticipated to exhibit high CAGR
In the terms of components, the market is segregated on the basis of gearbox, rotor blades, generator, and others. The rotor blade segment is anticipated to exhibit high CAGR during the forecast period due to rapid adoption of wind turbines quality type rotor are required to generate maximum power. On the other hand the gearbox segment is expected to grow at a rapid pace due to premature failures of the component which is expensive to replace now and then.
Asia Pacific is estimated to dominate the market
Based on the region, the market is segregated on the basis of Asia Pacific, Europe, North America, South America, and Middle- East and Africa. Asia Pacific is estimated to dominate the market. Growth of the market is attributed to China with the leading wind power installed capacity in Asia Pacific and considered one of the best in onshore wind power industry globally, due to its early adoption of wind turbines for energy generation and South Korea is estimated to grow at a rapid pace in the near future owing to its geographical condition and characteristics.
Segments
The wind turbine MRO market has been bifurcated on the basis of
Location of deployment
- On-shore
- Off-shore
Services Types
- Overhaul
- Repair
- Maintenance
Components
- Gearbox
- Rotor Blades
- Generator
- Others
Regions
- Asia Pacific
- Europe
- North America
- South America
- Middle- East and Africa
Key Players
- General Electric Company
- Siemens Gamesa Renewable Energy SA
- ABB Ltd
- Suzlon Energy
- Vestas Wind Systems A/S
Competitive Landscape
Key players competing in the wind turbine MRO market include General Electric Company; Siemens Gamesa Renewable Energy SA; ABB Ltd; Suzlon Energy; Vestas Wind Systems A/S.
Some of these players are targeting on business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance.
In October 2021, Siemens AG and Deutsch bahn (DB) presents the first automatic train that operates itself on rail traffic.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Wind Turbine MRO Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Wind Turbine MRO Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Wind Turbine MRO Market - Supply Chain
4.5. Global Wind Turbine MRO Market Forecast
4.5.1. Wind Turbine MRO Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Wind Turbine MRO Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Wind Turbine MRO Market Absolute $ Opportunity
5. Global Wind Turbine MRO Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Wind Turbine MRO Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Wind Turbine MRO Demand Share Forecast, 2019-2026
6. North America Wind Turbine MRO Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Wind Turbine MRO Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Wind Turbine MRO Demand Share Forecast, 2019-2026
7. Latin America Wind Turbine MRO Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Wind Turbine MRO Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Wind Turbine MRO Demand Share Forecast, 2019-2026
8. Europe Wind Turbine MRO Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Wind Turbine MRO Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Wind Turbine MRO Demand Share Forecast, 2019-2026
9. Asia Pacific Wind Turbine MRO Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Wind Turbine MRO Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Wind Turbine MRO Demand Share Forecast, 2019-2026
10. Middle East & Africa Wind Turbine MRO Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Wind Turbine MRO Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Wind Turbine MRO Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Wind Turbine MRO Market: Market Share Analysis
11.2. Wind Turbine MRO Distributors and Customers
11.3. Wind Turbine MRO Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
Methodology
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