O&M plays a massive role in the development of the wind energy industry and the energy transition as it ensures the long-term sustainability and growth of wind power globally. Not only this, but the aftersales and service business has become a strong second leg for the wind energy industry to stand one, with leading wind turbine OEMs generate about one-third of their revenues from their service business, and this share is expected to increase.
The role of the O&M service providers is to drive efficiency and create a global, sustainable, and mature market by improving the performance and lifetime of wind energy assets. Additionally, this segment of the wind energy value chain provides massive opportunities for local job creation and new businesses, facilitating the growth of green economies.
GWEC Market Intelligence has compiled a database of key players providing service and maintenance, their offerings (including multibrand), geographic coverage and targeted customers . This database will help to illuminate the active stakeholders in the aftersales and service segment as well as provide insights into the broader trends in the wind energy industry.
With the industry expecting to grow 4% annually over the next five years, the aftersales and service segment is expecting to grow at a similar pace. While currently the main players consist of turbine OEMS and component suppliers, who use their relationship with asset owners to sell their service offerings, the player landscape is opening up to Independent Service Providers (ISPs) as well as specialised independent players.
A wave of acquisitions of service companies also signals the attractiveness of the O&M market, with leading turbine OEM taking over largest ISPs as well as players outside the wind industry entering the market. These acquisitions can also be an important element to support the geographic expansion of the services market, as there are currently significant regional disparities between emerging and mature markets.
The key challenge moving forward is how these service providers can adapt their capabilities and offering to the scale of their business and customer base while ate the same time generating sufficient margins to progress with the developments and innovations in the wind industry.
To drive the energy transition, the aftersales and service market still needs to grow in size and expand its capabilities to match targets for wind energy capacity. Looking beyond this report and database, other segments of this market such as asset management, digital tools, and life-time extension will be significant to further the development of the aftersale and service market to ensure long-term growth of wind energy globally.
GWEC Market Intelligence is actively monitoring the trends in the aftersales and service market and its impact for the energy transition. If you are a GWEC Member, you may access the Wind Turbine O&M Service Providers Report and Database on the GWEC Market Intelligence Platform.