(MENAFN- America News Hour) Wind is one of the major sources of renewable energy. Turbines are used to convert wind energy to electric energy with the help of rotating blades. The rotor forms the central base with multiple blades attached to the hub. The wind energy market is growing at a steady pace around the world leading to the development of new plants and up gradation of existing facilities which in turn helps in the growth of MRO market for wind turbines.
End User/ Technology
Maintainance, repair & overhaul of a wind turbine is required at fixed intervals to ensure high performance and efficiency. Some of the key equipment which requires routine maintenance are gearbox, generator and wind blades. The tip speed ratio (ratio of the speed at the tip of the blade to the wind speed) needs to be maintained at 6 or 7 to reach high functional efficiency.
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Market Dynamics
Shifting trend to cleaner and greener energy along with favorable Govt. policies are driving the growth of the market. Increase in the number of offshore wind energy generation facilities is creating demand for wind turbines which leads to the growth of wind turbine MRO market.
Technological advancement, increasing demand for energy especially from developing countries on account of rapid industrialization and urbanization are also helping the wind turbine MRO market to grow. Less cost for per unit of energy generation is one of the major advantages of wind energy. High initial capital expenditure for setting up a wind energy plant is one of the primary restraints for the market.
Market Segments
The wind turbine MRO market can be segmented based on the maintenance of various equipment. Some of the major equipment under MRO market are gearbox, generator, wind blades, electrical systems, and other wind turbine parts. From the cost of maintenance point of view gearbox, generator and wind blades have the largest market share while electrical systems require more frequent maintenance and repairment.
Regional/Geographic Analysis
The wind turbine MRO market can be regionally segmented into five parts Europe, North America, South America, the Asia Pacific and Middle East & Africa. The Asia Pacific is the current market leader and expected to grow at the highest CAGR in the forecasted period due to its consistent demand for energy. The European market is also expected to witness a substantial growth during the forecasted period.
Opportunities
Strict environmental standards driving the need for alternative energy, favorable Govt. policies, and technological advancement coupled with increasing demand for energy is creating lots of opportunities for the wind energy market which in turn is providing growth opportunities for the wind turbine MRO market. Apart from large manufacturers small and large independent service providers are also gaining a significant presence in the market.
Key Players
Some of the major players in the market include Vestas, Moventas, Siemens, Stork Gears & Services, Mekanord, Gamesa, and Suzlon etc.
Report ContentsRegional AnalysisReport Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R & D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
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Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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