Wind Services Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Wind services are required for regular maintenance of wind turbines to ensure optimal working in the production of wind energy. Wind power refers to the process of using wind to provide current to the wind turbine, which in turn generates electricity. Growing demand for renewable sources of energy to reduce the impact of greenhouse gas on the environment, with increasing number of marine and onshore changes is accelerating the growth of the market. Gearbox and generator are two most important components of wind turbine. Turbine testing services target only these components to check the performance of turbines. Increasing demand for global wind services is attributed to the growing demand for renewable source of energy, ease in government policies, and increase in number of installations of wind turbines.

COVID-19 scenario analysis: 

• Delay is expected in the commencement of new wind power projects due to lockdown across the world and non-availability of machinery and labor.
• China and India are the largest hubs of wind industry; hence, supply chain disruption could lead to a weak wind industry as some already tendered projects have been postponed.
• Getting labor onto sites, maintaining wind power production, and doing the tasks safely are huge challenges.
• Many wind industry suppliers have been severely hit by this pandemic and shutdowns of factories in India, China, and Spain has constrained supply.
• To manage labor or staffing and supply chain management and to reduce supply chain disruption, independent operations and management teams are being relied upon for better future.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

The factors considered to be the key drivers for the demand of this market are growing adoption of renewable source of energy, ease in government policies, and increase in number of installations of turbines. Renewable source of energy has less impact on environment; therefore, it is expected to minimize the effect of carbon emissions and greenhouse gas across the globe. Wind energy has become a viable source of energy for places where it is not possible to install electricity grids, leading to increasing its demand. However, huge cost for installations is the biggest hindrance factor in the growth of this market.

The Asia-Pacific wind services market is likely to grow in the coming years. China in terms of the offshore wind energy sector is triggering significant demand in this market and has the highest number of installations of wind energy turbines.

Key benefits of the report:

• This study presents the analytical depiction of the global wind services market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the wind services market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global wind services market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years. 

 Wind Services Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights