Europe Wind Turbine Operations & Maintenance Market to be Dominated by Onshore Segment in the Forecast Period

Growing demand for renewable energy for power generation and rising electricity consumption are the factors propelling the Europe Wind Turbine Operations & Maintenance Market growth in the forecast period

According to TechSci Research report “Europe Wind Turbine Operations & Maintenance Market –By Country, Competition Forecast & Opportunities, 2018-2028F,” the Europe Wind Turbine Operations & Maintenance Market is expected to register robust growth during the forecast period, 2024-2028. As the population grows, so does the demand for power. Countries are establishing new plants or expanding their current energy facilities to increase their capacity for producing power as demand rises. Due to environmental laws, many companies are producing electricity from renewable sources, particularly solar and wind power, which eventually accelerates industry growth. The wind energy industry is moving toward automation, cutting-edge technology, AI, and data analysis to maintain wind turbines effectively and efficiently without requiring human interaction. Since various technologies and software are gaining traction the wind turbine operations & maintenance are developing substantially. The Europe market was significantly impacted by the advent of different innovations, including mobile IoT technology, sophisticated condition monitoring, database management, and analytics.

For the wind turbine to run smoothly and have a longer lifespan, operation and maintenance are essential. One of the key problems impeding market growth is the high cost of operation and maintenance of wind turbines, which accounts for roughly 30% of their overall cost. In order to prevent common problems, wind turbines must be frequently inspected after installation. Power breakdowns are frequent when maintenance isn't done properly, which ultimately interferes with various crucial functions. Operation and upkeep are so essential for both onshore and offshore wind farms. Cost is a major concern for these operations since operating and maintaining wind turbines is expensive and accounts for nearly 25–30% of the overall cost of a wind turbine. But businesses that operate in the market continually work to reduce cost.

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The Europe Wind Turbine Operations & Maintenance Market is divided into Type, Location, Country and Company. Based on type, the market is divided into Scheduled, Unscheduled. Owing to the implementation of unscheduled maintenance during operational problems including equipment failures and wind turbine breakdowns due to the hostile climate, the unscheduled type dominates the market. However, in order to ensure the smooth running of wind turbines, scheduled maintenance is often performed at certain intervals. There are typically 12 to 18 hours of downtime for each maintenance event since planned wind turbine operation and maintenance is typically conducted twice a year. This suggests that the planned wind turbine operations & maintenance market will likely see substantial expansion in the years to come.

Based on Location, the market is divided into Onshore and Offshore. Stakeholders in the wind turbine operations and maintenance sector are becoming more aware of the benefits of onshore over offshore, such as lower initial investment costs, shorter cables, and quicker installation. Onshore wind energy is intermittent; therefore, market players need to manage issues like variable wind speeds, possible wind obstructions, and others.

On the other side, businesses in the Europe wind turbine operations and maintenance market are benefiting from offshore wind power benefits over onshore wind power, including greater energy production, and wind dependability reduced esthetic effect. Offshore wind power has drawbacks over onshore wind, such as a higher initial investment cost, more frequent maintenance and repairs, and fewer local jobs.

Major market players in the Europe Wind Turbine Operations & Maintenance Market are

• Vestas Wind Systems A/S
• Siemens Gamesa Renewable Energy
• Aloys Wobben Stiftung (AWS)
• Nordex SE
• Deutsche Windtechnik AG
• Enercon GmbH
• Xinjiang Goldwind Science & Technology Co., Ltd
• Ming Yang Wind Power Group Limited

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“Rising electricity consumption and increasing renewables energy awareness is driving the market. The Europe is moving toward the use of renewable energy sources, particularly wind energy. Rising government initiatives towards renewable energy driving the market growth. As a result, regular operations and maintenance are becoming more important due to which market is expected to grow in the future." said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Europe Wind Turbine Operations & Maintenance Market By Type (Scheduled, Unscheduled), By Location (Onshore and Offshore), By Country, Competition Forecast & Opportunities, 2018-2028F,” has evaluated the future growth potential of Europe Wind Turbine Operations & Maintenance Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Europe Wind Turbine Operations & Maintenance Market.