Wind Turbine Services Market in Europe to increase by USD 2.88 billion from 2023 to 2028; ABB Ltd., Acciona SA, B9 Energy Ltd. and more among key companies- Technavio
NEW YORK, Nov. 10, 2023 /PRNewswire/ -- The wind turbine services market in Europe is expected to grow by USD 2.88 billion from 2023 to 2028, according to Technavio.
NEW YORK, Nov. 10, 2023 /PRNewswire/ -- The wind turbine services market in Europe is expected to grow by USD 2.88 billion from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will be progressing at a CAGR of 8.48% during the forecast period.
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Wind Turbine Services Market In Europe 2024-2028: Company Analysis
The wind turbine services market in Europe is fragmented due to presence of many global and regional players. The market comprises category-focused, industry-focused, and diversified vendors. The global off-grid wind turbine services market in Europe is expected to grow rapidly during the forecast period due to the Rise in wind energy consumption. Hence, the competition among companies is expected to intensify during the forecast. The report analyzes the market's competitive landscape and offers information on several market companies. ABB Ltd., Acciona SA, B9 Energy Ltd., Buss Energy Group GmbH, Deutsche Windtechnik AG, E.ON SE, Emergya Wind Technologies BV, Enercon Services Inc., Fassmer Industrial Service GmbH and Co. KG, Fred. Olsen Ocean AS, General Electric Co., Ingeteam Corp. S.A., Nordex SE, Orsted AS, P and A Renewable Services, PNE AG, Repower AG, Siemens AG, Vestas Wind Systems AS, and Suzlon Energy Ltd.
Major Companies and Key Offerings:
- ABB Ltd. - The company offers wind turbine services which include efficiency improvement and production increase while improving reliability and reducing the levelized cost of energy over the lifetime of turbine and wind farm.
- Acciona SA - The company offers wind turbine services under the brand name ACCIONA Windpower.
Wind Turbine Services Market In Europe 2024-2028: Segmentation Analysis
- By Application
The on-shore segment is estimated to witness significant growth during the forecast period. To ensure the sustained effectiveness and longevity of offshore wind turbines, regular maintenance, inspections, and repairs are essential. With the advancement of wind turbine technology, operators often strive to enhance the performance, efficiency, and reliability of their existing turbines. Retrofitting and upgrading services play a crucial role in modernizing older turbines and aligning them with current standards. In the case of onshore wind turbine services, specific components like blades, gearboxes, and generators may be replaced to address wear and tear or to enhance overall performance. These services are often customized to meet the unique requirements of individual wind farms or turbines, taking into account factors such as location, climate, and turbine type. Consequently, the increasing installation of onshore wind turbines is expected to drive the growth of the Europe wind turbine services market during the forecast period.
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Imperative Insights on the following aspects:
- What was the size of the wind turbine services market in Europe by value?
- What will be the size of the wind turbine services market in Europe in 2028?
- How has the industry perform over the last 5 years?
- What factors are affecting the strength of competition in the wind turbine services market in Europe?
- What main segments make up the wind turbine services market in Europe?
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Wind Turbine Services Market In Europe Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.48% |
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Market Growth 2024-2028 |
USD 2.88 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
8.3 |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Excustive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
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US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
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SOURCE Technavio
