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Wind Turbine Maintenance, Repair & Overhaul (MRO) Market Size 2021 Global Key Findings, Industry Demand, Regional Analysis, Key Players Profiles, Future Prospects and Forecasts to 2024
Posted on Jan 19 2021 11:59 AM
"Global Wind Turbine Maintenance, Repair & Overhaul (MRO) Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of counties globally along with current trend and opportunities prevailing in the region.
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Global Wind Turbine Maintenance, Repair & Overhaul (MRO) Market research report provides a Point-by-Point In-Depth analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.
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Wind Turbine Maintenance, Repair & Overhaul (MRO) Market competition is assessed by top manufacturers, with production, price, revenue (value), and market share for each manufacturer. It offers a complete evaluation of every area including the volume of the global Wind Turbine Maintenance, Repair & Overhaul (MRO) market in that area in the estimated duration. This well-drafted report entails the existing market status, historical data, and projection outlook. A detailed segmentation analysis of the market is done on regions, types, and applications in the report. The report tracks primary trends that decide future growth prospects in the global market.
Wind Turbine Maintenance, Repair & Overhaul (MRO) Market Report Overview includes major players of the global Wind Turbine Maintenance, Repair & Overhaul (MRO) Market covered in the research study, research scope, Market segments by type, Market segments by application, years considered for the research study, and objectives of the report.The research report explores the Wind Turbine Maintenance, Repair & Overhaul (MRO) market across the globe shows industry summary, definition, and scope along with major regions and countries. The research report provides a detailed study on each and every aspect of Wind Turbine Maintenance, Repair & Overhaul (MRO) Market. Furthermore, the research study classifies the market based on product types, application and end user industries of Wind Turbine Maintenance, Repair & Overhaul (MRO).
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Over the years, wind energy has grown to become one of the leading global sources of power generation, and the full utilization of wind power is expected to get stronger during the forecast period 2018-2023. In 2017, a total investment of USD 107.2 billion was made in wind power globally, making it one of the quickest growing industrial segments in the world. Although most of the wind energy is currently obtained onshore, offshore wind farms are gaining wide popularity, which, in turn, is expected to increase the demand for the wind turbine significantly. More wind turbines mean more Maintenance, Repair & Overhaul (MRO) service requirements. However, the rising tendency among wind farm operators to repower the existing assets, to increase the potential output from the wind farms, by installing even larger blades and incorporating digital technology, is expected to significantly increase the demand for wind turbine MRO services during the forecast period.
High Investment in Wind Farms Accelerates Growth
The global wind energy industry has progressed at a very brisk rate since 2009. By the end of 2017, the total installed capacity of wind power reached around 539 GW, with Europe and Asia-Pacific regions, witnessing the highest growth. This capacity addition is expected to reach a stage during the forecast period where repowering is expected to become a more viable and attractive prospect for many wind farm operators. Furthermore, with the advancements in technologies, the operational efficiency of turbines is constantly increasing. Higher operational efficiency translates to higher levels of electricity generation and increased profitability, creating a rock-solid business case for investment with an attractive ROI, which, in turn, would supplement the demand for wind turbines MRO services. Whilst scheduled repair and maintenance activities are expected to account for the majority of the revenues, the demand for an overhaul of wind turbines is expected to significantly increase during the forecast period.
Asia-Pacific to Register High Growth
Asia-Pacific is ramping up its wind energy production, to meet its growing energy needs, and in a bid to limit smog-causing pollution from coal plants and act on climate change. In 2016, 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.
India to Register High Growth Rate
2017 was a year of transition for the Indian wind power industry, which saw a transition from feed-in-tariffs to competitive bidding, causing temporary volatility in demand for wind power equipment. Similarly, in India, it is anticipated that the wind power capability in the country will be ramped up to 185 GW - an eight-fold increase over 15 years from 2015, and contribute to approximately 14% of India’s renewable energy use. Similarly, India’s Ministry of New and Renewable Energy (MNRE) has announced the target to achieve an installed capacity of 175 GW of renewable energy by 2022, including 60 GW from the wind. Additionally, the government plans to increase the capacity of individual turbines. These initiatives, if properly implemented, are likely to provide huge demand for wind power MRO services in India during the forecast period.
Key Developments in the Market
January 2018: UKEF helped GE Global Services UK secure landmark turbine maintenance contract in Iraq.
January 2018: Iberdrola awarded maintenance of 4,425 MW wind capacity in the Iberian Peninsula for EUR 110 million.
The major players include - Siemens Gamesa Renewable Energy SA, General Electric Company, Stork (a Fluor Company), and Mistras Group, amongst others.
Reasons to Purchase the Report
Current and future of the global wind turbine maintenance, repair & overhaul (MRO) market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s Five Forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness the fastest growth during the forecast period
Identify the latest developments, and strategies employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in excel)
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
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Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Wind Turbine Maintenance, Repair & Overhaul (MRO) Market for 2021-2024. To calculate the market size, the report considers new installations or sales and subscription payments of Wind Turbine Maintenance, Repair & Overhaul (MRO).
The market is divided into the following segments based on geography:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
Global Wind Turbine Maintenance, Repair & Overhaul (MRO) Market 2021-2024, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Market Trend
- Growing research activities coupled with new product launches.
- For a full, detailed list, view our report
Market Driver
- High Opportunity in the Industry
- For a full, detailed list, view our report
Market Challenge
- Complications associated with Wind Turbine Maintenance, Repair & Overhaul (MRO) procedures.
- For a full, detailed list, view our report
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Key questions answered in this report
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Some Major Points from Toc :-
1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness Porter's Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Market Segmentation and Analysis (Market Size, Growth & Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.1 Australia
6.1.2 Bolivia
6.1.3 Brazil
6.1.4 Democratic Republic of Congo
6.1.5 Indonesia
6.1.6 Malaysia
6.1.7 Myanmar
6.1.8 Peru
6.1.9 Russia
6.1.10 Thailand
6.1.11 Vietnam
6.1.12 Others
6.2 Consumption Analysis (Market Size, Growth and Forecast)
6.2.1 Asia-Pacific
6.2.1.1 India
6.2.1.2 China
6.2.1.3 Japan
6.2.1.4 South Korea
6.2.1.5 Rest of Asia-Pacific
6.2.2 North America
6.2.2.1 United States
6.2.2.2 Canada
6.2.2.3 Mexico
6.2.2.4 Rest of North America
6.2.3 Europe
6.2.3.1 Germany
6.2.3.2 United Kingdom
6.2.3.3 France
6.2.3.4 Italy
6.2.3.5 Austria
6.2.3.6 Rest of Europe
6.2.4 South America
6.2.4.1 Brazil
6.2.4.2 Argentina
6.2.4.3 Rest of South America
6.2.5 Middle East & Africa
6.2.5.1 UAE
6.2.5.2 South Africa
6.2.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
10. Disclaimer
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