Wind Turbine MRO Market

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

  • Report ID: ICT-SE-2684
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 202
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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.


Wind Turbine MRO Market

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.

Attributes

Details

Report Title

Wind turbine MRO market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Location of Deployments (On-shore and Off-shore), Service Types (Overhaul, Repairs, and Maintenance), Component (Gearbox, Rotor Blades, Generator, and Others)

Regional Scope

Asia Pacific, Europe, North America, South America, and Middle- East and Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

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.


Wind Turbine MRO Market

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 of turbines and concerns towards impact on environment emission from coal based power plant.


Wind Turbine MRO Market

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.


Wind Turbine MRO Market

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.


Wind Turbine MRO Market

Segments

Segments Covered in the Report

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.

Wind Turbine MRO Market

1. Executive Summary
2. 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)

Segments Covered in the Report

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

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.

Wind Turbine MRO Market

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