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Global Wind Turbine Blade Inspection Services Market to Surpass US$ 38.7 Billion by 2025

Published On : Jun 04, 2018

The Wind Turbine Blade Inspection Services Market was valued at US$  16.6 billion in 2017, and is expected to increase to US$ 38.7 billion by 2025, registering a CAGR of 11.1% over the forecast period (2018–2025, according to Wind Turbine Blade Inspection Services Market Report, by Services (Quality Assurance & Quality Control, Non-destructive Examination (NDE), Condition Assessment/Inspection, Process Safety Management, and Welding & Corrosion Engineering), by Location (Onshore and Offshore), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) published by Coherent Market Insights.

Wind turbine blades and towers are often subjected to corrosion and erosion, due to environmental effects from the land and sea. This can adversely affect the overall efficiency of wind turbine and result in degradation in the performance of the overall setup. In order to overcome this problem, a number of services are applied on structures and components in order to protect them from the effect of harsh environment. Thus, major benefits of inspection services is that it helps in extending the life-span of the existing wind turbine. This in turn helps in reducing risk of failure of the wind turbine.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/wind-turbine-blade-inspection-services-market-1718

Browse 150 market data tables* and 90 figures* on “Wind Turbine Blade Inspection Services Market” - Global forecast to 2025.

Key Trends and Analysis of the Global Wind Turbine Blade Inspection Services Market:

  • Offshore wind capacity is yet to gain momentum in Latin America (and there is no regulatory framework in place in most countries). However, despite significantly high building costs and difficulty of installing and servicing wind turbines offshore, it could be viable option in the region, owing to high price of conventional energy. Moreover, offshore wind has a greater capacity factor (as much as 60% compared to 30% for onshore wind) as turbines can be installed in ideal locations.
  • The market in North America is expected to exhibit a CAGR of 10.5% over the forecast period. This growth is attributed to increasing consumption of electricity which has led to growth of wind turbine installation. For instance, according to the Environmental Impact Analysis (EIA), in 2015, the total electricity consumption in the U.S. was 89.9 quadrillion and is projected to reach to 97.4 quadrillion. In order to cater to this increasing demand for electricity, wind turbine installation is increasing significantly in the region. For instance, according to the Global Wind Energy Council (GWEC) analysis, in 2016, the total number of wind turbine installed was 97.6 GW and is expected to reach to 107.9 GW in 2017, globally. Accordingly to GWEC, countries such as the U.S. and Canada account for 15% and 1.3% market share, respectively, in wind turbine installation in 2016 as per the GWEC Sources. Therefore, increasing number of installation is expected to lead to growth of the market.
  • Saudi Aramco—an oil company—is focusing on exploiting wind power in Saudi Arabia and move the country from its dependence on fossil fuels for national electricity demand. GE Energy has installed over 1,000 turbines in desert areas of Middle East. Gamesa has developed 800 MW of wind energy capacity in Egypt, which is another area of growth for wind power. This is expected to aid in growth of the market in Middle East.
  • Major players operating in the global wind turbine blade inspection services market include Intertek Group Plc, SGS SA, Cenergy International Services, L.L.C., UL International Gmbh, Mistras Group, James Fisher and Sons plc, Global Wind Service, Force Technology, Vestas, and Siemens Wind Power GmbH & Co.KG.

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