Wind turbine operations and maintenance market

Market Size and Trends

The wind turbine operations and maintenance market is estimated to be valued at USD 25.31 billion in 2024 and is expected to reach USD 43.94 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.

The wind turbine operations and maintenance market is expected to witness significant growth over the forecast period.

With ongoing installation and commissioning of new wind farms worldwide and expiration of initial OEM warranties of existing wind turbines, the demand for O&M services is projected to steadily increase. Additionally, refurbishment of aged wind turbine components such as blades, gearboxes, and generators is further expected to drive the demand for the wind turbine operations and maintenance. Also, the market is likely to gain traction with the growing focus of wind turbine owners and operators on preventive maintenance to minimize downtime and maximize productivity. Continuous technological advancements in maintenance practices, such as development of advanced monitoring systems, drone-based inspections, and predictive analytics, are further expected to support the market expansion through 2031.

Wind Turbine Lifecycle Extension

As wind turbines age, operators aim to maximize productivity while minimizing costs. Original equipment manufacturer warranties typically cover turbines for 2-5 years, with the average lifespan being around 20-25 years. However, advancements in materials science, manufacturing processes, and monitoring technologies now enable turbines to operate effectively for 30 years or more with refurbishment. Turbine owners see significant value in extending operational lifecycles, as each additional year brings greater return on investment.

Operators engage in comprehensive maintenance regimens to ensure component longevity. Regular inspections identify worn parts for scheduled replacement, preventing catastrophic failures. Thermal imaging and vibration analysis detect structural weaknesses early. Blades undergo rigorous stress testing to ensure aerodynamic efficiency is maintained despite environmental wear. Nacelle internals like gearboxes and generators receive software upgrades and refined lubricants to minimize friction. Tower paint is renewed to protect against corrosion. Such proactive measures sustain turbine performance throughout multi-decade service.

For Instance, In September 2021, Siemens Gamesa introduced a groundbreaking development in the wind industry by launching the RecyclableBlade, the world’s first wind turbine blade designed for commercial offshore use that can be recycled at the end of its lifespan. This achievement marks a significant milestone for the company's goal to make turbines fully recyclable by 2040. The initial batch of six RecyclableBlades has been manufactured at Siemens Gamesa’s blade plant in Aalborg, Denmark. The company has also secured agreements with three major customers: RWE, EDF Renewables, and wpd. Siemens Gamesa will collaborate with RWE to test the recyclable blades at the Kaskasi offshore wind power plant in Germany, partner with EDF Renewables to deploy them in future offshore projects, and work with wpd to install them at one of their upcoming offshore wind power plants. 

Market Concentration and Competitive Landscape

Distributed Wind Operations and Maintenance

Distributed wind power presents distinct operations and maintenance challenges compared to large utility-scale farms. Whereas centralized facilities benefit from economies of scale, smaller turbines located across diverse terrains incur higher servicing expenses per megawatt. Isolated single installations in remote agricultural or industrial areas are difficult for technicians to access regularly. Adverse weather and terrain also slow repairs. However, distributed wind still provides affordable renewable energy solutions for off-grid needs when properly maintained.

To efficiently handle dispersed assets, O&M managers rely on remote monitoring technologies. Sensors in nacelles transmit performance data via cellular networks or satellite, alerting to issues before significant downtime occurs. Drones equipped with cameras and diagnostics perform rapid visual inspections of hard-to-reach components. Artificial intelligence assists in identifying maintenance priorities from large datasets.

As part of the Green Innovation Fund Projects supported by NEDO, Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) is working on the Cost Reductions for Offshore Wind Power Generation project. Their focus is on improving the technology used to operate and maintain offshore wind turbines. Recently, Toshiba ESS conducted demonstration activities at the Sozu Wind System wind farm in Ehime Prefecture, Japan, owned by Shikoku Wind Power Co., Ltd. They have successfully evaluated technology for fully automated inspections of large wind turbine blades using drones. This technology allows drones to detect the position and movement of wind turbines and their blades, capturing images for inspection purposes. Toshiba ESS aims to complete the technology verification for fully automated inspections by February 2024.

Market Challenges: Remote Locations and Logistical Complexities

The wind turbine operations and maintenance market faces several challenges. Wind farms are commonly located offshore or in remote onshore locations which increases service difficulties. Additionally, wind turbines experience considerable wear and tear from constant exposure to changing weather conditions. This leads to higher maintenance needs and costs over the operational lifetime of wind farm assets. Equipment failures can also result in lost energy production.

Market Opportunities: Growing Wind Energy Capacity Drives the O&M Demand

As the wind energy capacity continues to rise globally, the need for specialized operations and maintenance services will steadily grow. The demand for repair and component replacement in aging wind farm fleets creates a recurring customer base. Developing new technologies and equipment designs that enhance reliability and reduce servicing requirements can gain a competitive edge. Outsourcing operations to experienced third-party service providers is also a strategy used among many wind farm operators.

In terms of By Application, Onshore contributes the highest share of the market owing to the availability of large windy areas and low installation cost

The onshore segment is expected to account for the major share of 82.2% in 2024. This is mainly attributed to availability of large windy areas suitable for installation of wind turbines. Onshore wind farms tend to be more economical as the installation and cable laying costs are relatively lower compared to offshore farms. The construction and maintenance of onshore wind turbines is easier logistically due to accessibility on land. Various governments across the world are providing incentives and tax benefits to promote the use of renewable energy from onshore wind power. This has encouraged private investment in setting up large wind farms. Countries with vast open spaces such as the U.S, China, and India see huge potential in generating electricity through onshore wind power projects. 

In terms of Service Type, Scheduled maintenance accounts for the highest market share due to the importance of preventive servicing

The scheduled maintenance segment is expected to hold the major share of 66.12% in 2024. This is because wind turbines require periodic and preventive servicing to maximize their functional life. Scheduled maintenance involves the planned inspection, testing, and repair of turbine components as per the predefined schedule. Regular checks ensure the early detection of faults and reduce chances of unexpected breakdowns. It is crucial for operators to adhere to the equipment manufacturer's maintenance guidelines for optimal performance of turbines over 25 years of their operational life. Scheduled maintenance activities such as checking oil levels, lubricating moving parts, testing blades, and replacing worn-out gears are carried out by trained technicians. This preemptive servicing plays a key role in minimizing turbine downtime and maximizing power output. Hence, scheduled maintenance will continue to be the primary revenue generator for wind farm maintenance providers.

Regional Insights

In the global Wind Turbine Operations and Maintenance market, North America leads with the largest market share, accounting for 37.1% in 2024. This dominance can be attributed to the region's well-established wind energy infrastructure, supportive regulatory frameworks, and increasing investments in renewable energy projects. North America boasts a mature wind energy sector with a significant number of installed wind turbines, driving the demand for operations and maintenance services.

On the other hand, Asia Pacific emerges as the region with the highest Compound Annual Growth Rate (CAGR) of 11.27% in the Wind Turbine Operations and Maintenance market. This rapid growth is fueled by several factors, including the increasing adoption of wind energy to meet the growing electricity demand, government initiatives promoting renewable energy, and technological advancements in wind turbine technology. Countries like China, India, and Australia are witnessing substantial investments in wind energy projects, contributing to the robust growth of the Wind Turbine Operations and Maintenance market in the Asia Pacific region.

Overall, North America leads in market share, while Asia Pacific demonstrates significant growth potential in the wind turbine operations and maintenance market, driven by favorable market conditions and increasing investments in renewable energy infrastructure.

Market Report Scope

Key Developments

• In June 2023, Enercon, a well-known wind turbine manufacturer from Germany, partnered with Kalyon Enerji, a renewable energy investor, for a significant 260 MW wind project in Turkey. Enercon will supply and install 64 units of its advanced E-138 EP3 wind turbines for Kalyon’s Yeka Res-3 initiatives.
• In May 2023, General Electric launched an improved online marketplace for onshore wind components, allowing wind farm operators to easily purchase spare parts and supplies in one place, with over 100,000 items availableIn April 2023, ENERCON GmbH collaborated with Enerjisa Üretim Santralleri A.Ş. through a memorandum of understanding, planning to provide two cutting-edge ENERCON E-175 EP5 wind energy converters. These units, featuring a rotor diameter of 175 meters and a power output of 6 MW, will be installed as prototypes in Turkey by the end of 2024.
• In April 2023, Siemens Gamesa Renewable Energy, S.A. signed a contract with an Indian subsidiary of ArcelorMittal to deliver 46 units of SG 3.6-145 wind turbines for a 166 MW project in Andhra Pradesh, India
• In March 2023, Siemens Gamesa Renewable Energy, S.A. was chosen by RWE to provide 132 units of RecyclableBlades technology for the Sofia offshore wind project
• In February 2023, General Electric was selected by Wpd, a Germany-based company, to supply 16 onshore wind turbines for three wind farms near Hamburg, Germany. The turbines, with a capacity of 5.5 MW each, will contribute to a total installed capacity of 88 MW. The collaboration also includes a 15-year full-service agreement with an option for a 5-year extension.

*Definition: The wind turbine operations and maintenance market involves services needed to operate and maintain wind farms and wind turbines once they are fully installed and commissioned. It includes routine and preventative maintenance as well as repairs and replacement of components to maximize turbine performance and minimize downtime over the lifecycle of the wind farm. Services include condition monitoring, maintenance management, inspections, spare parts management, logistics services, repair services, and end-of-life decommissioning of wind turbines.

Market Segmentation

• Application Insights (Revenue, USD Bn, 2019 - 2031)
  • Onshore
  • Offshore
•  Service Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Scheduled Maintenance
  • Unscheduled Maintenance
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    • South Africa
    • GCC Countries
    • Israel
    • Rest of Middle East & Africa
• Key Players Insights
  • ABB Ltd
  • B9 Energy Group
  • Dana SAC UK Ltd
  • Deutsche Windtechnik 
  • Enercon GmbH
  • Fred. Olsen Windcarrier 
  • Gamesa Renewable Energy SA
  • General Electric Company
  • GoldWind
  • Integrated Power Services LLC
  • Mistras Group
  • Moventas Gears Oy
  • Nordex SE
  • REETEC
  • Siemens Gamesa
  • Stork
  • Suzlon Energy Limited
  • Vestas Wind Systems A/S
  • ZF Friedrichshafen AG