Wind Turbine Services Market in Europe by Type, Application, and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71739
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The wind turbine services market share in Europe is expected to increase by USD 2.21 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 8.21%.

This wind turbine services market research report of Europe provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers wind turbine services market segmentation in Europe by type (OEM, ISP, and in-house), application (onshore and offshore), and geography (Germany, UK, Spain, Rest of European Union, and Rest of Europe). The wind turbine services market report of Europe also offers information on several market vendors, including E.ON SE, Emergya Wind Technologies BV, Enercon Services Inc., Fassmer Industrial Service GmbH and Co. KG, General Electric Co., Global Wind Service, Nordex SE, Repower AG, Siemens AG, and Vestas Wind System AS among others.

What will the Wind Turbine Services Market Size in Europe be During the Forecast Period?

Download the Free Report Sample to Unlock the Wind Turbine Services Market Size in Europe for the Forecast Period and Other Important Statistics

 

Wind Turbine Services Market in Europe: Key Drivers and Challenges

The rise in wind energy consumption is notably driving the wind turbine services market growth in Europe, although factors such as intermittency of wind power may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wind turbine services industry in Europe. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Wind Turbine Services Market Driver in Europe

Countries are shifting their focus from non-renewable sources of energy to renewable sources to produce power. Wind power is considered to be the most efficient source of power among all renewable energy sources. Europe held 59% of new wind capacity installations in 2019 and remained the largest market for offshore wind power. The increased focus of this region to tap wind energy potential bodes well for the growth of the wind turbine monitoring systems. Thus, the growing installation of wind turbines will add the application of wind turbine monitoring systems and thus drive demand in the market in focus during the forecast period. Countries such as Denmark, Spain, Germany, and the UK produce over 10% of their power by using wind energy. With increased wind energy consumption, it is expected that the demand for wind turbine monitoring systems will grow over the next few years.

Key Wind Turbine Services Market Challenge in Europe

Intermittency is a common challenge associated with the generation of power from renewable sources. Unlike solar PV and water, the availability of wind is not uniform. The wind speed is low during the night and increases at dawn. It remains high throughout the day and reaches its maximum by dusk. Fluctuations in the wind speed depend on seasons as well. For instance, the wind speed is high during winter and low during summer. The deployment of backup solutions can address the intermittency of wind power to an extent. However, climatic changes can cause uncertainty in generating wind power. Therefore, the intermittency of wind power affects the adoption of wind turbines, which is expected to hinder the growth of the wind turbine services market in Europe during the forecast period. 

This wind turbine services market analysis report of Europe also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Wind Turbine Services Market Vendors in Europe?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • E.ON SE
  • Emergya Wind Technologies BV
  • Enercon Services Inc.
  • Fassmer Industrial Service GmbH and Co. KG
  • General Electric Co.
  • Global Wind Service
  • Nordex SE
  • Repower AG
  • Siemens AG
  • Vestas Wind System AS

 

This statistical study of the wind turbine services market in Europe encompasses successful business strategies deployed by the key vendors. The wind turbine services market in Europe is fragmented and the vendors are providing improved wind turbine services to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The wind turbine services market forecast report of Europe offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Wind Turbine Services Market in Europe?

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40% of the market’s growth will originate from Rest of European Union during the forecast period. France, Italy, Turkey, Sweden, Poland, Denmark, and Portugal are the key markets for wind turbine services in the Rest of the European Union. However, the market growth rate in this region will be slower than the growth of the market in the UK and Germany.

The increasing focus of governments on generating power using renewables and new capacity additions will facilitate the wind turbine services market growth in the Rest of the EU over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Wind Turbine Services Market in Europe?

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The wind turbine services market share growth in Europe by the OEM segment will be significant during the forecast period. OEMs in the wind industry provide wind turbine services to wind farm owners for the wind turbines sold to them directly in the form of warranty or service agreements. Repair and maintenance activities are expected to be the major revenue generators to the OEMs. The repowering of wind turbines due to the presence of aging wind farms will also contribute a major share of revenue to the OEMs. The rise in the number of upcoming projects in Europe in both onshore and offshore environments will drive the OEM segment during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the wind turbine services market size in Europe and actionable market insights on post COVID-19 impact on each segment.

 

Wind Turbine Services Market Scope in Europe

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8.21%

Market growth 2021-2025

$ 2.21 billion

Market structure

Fragmented

YoY growth (%)

8.02

Regional analysis

Europe

Performing market contribution

Rest of European Union at 40%

Key consumer countries

Germany, UK, Spain

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

E.ON SE, Emergya Wind Technologies BV, Enercon Services Inc., Fassmer Industrial Service GmbH and Co. KG, General Electric Co., Global Wind Service, Nordex SE, Repower AG, Siemens AG, and Vestas Wind System AS

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Wind Turbine Services Market Report of Europe?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive wind turbine services market growth in Europe during the next five years
  • Precise estimation of the wind turbine services market size in Europe and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the wind turbine services industry across Germany, UK, Spain, Rest of European Union, and Rest of Europe
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of wind turbine services market vendors in Europe 

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Onshore - Market size and forecast 2020-2025
    • Offshore - Market size and forecast 2020-2025
    • Market opportunity by Application

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • OEM - Market size and forecast 2020-2025
    • ISP - Market size and forecast 2020-2025
    • In-house - Market size and forecast 2020-2025
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • Germany - Market size and forecast 2020-2025
      • UK - Market size and forecast 2020-2025
      • Spain - Market size and forecast 2020-2025
      • Rest of European Union - Market size and forecast 2020-2025
      • Rest of Europe - Market size and forecast 2020-2025
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • E.ON SE
      • Emergya Wind Technologies BV
      • Enercon Services Inc.
      • Fassmer Industrial Service GmbH and Co. KG
      • General Electric Co.
      • Global Wind Service
      • Nordex SE
      • Repower AG
      • Siemens AG
      • Vestas Wind System AS

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
      Get your FREE sample now!
      The wind turbine services market growth will increase by $2210.55 million during 2020-2025.
      The wind turbine services market is expected to grow at a CAGR of 8.21% during 2020-2025.
      Technavio has segmented the wind turbine services market by type (OEM, ISP, and In-house) ,application (Onshore and Offshore) , and geographic (Germany, UK, Spain, Rest of European Union, and Rest of Europe).
      E.ON SE, Emergya Wind Technologies BV, Enercon Services Inc., Fassmer Industrial Service GmbH and Co. KG, General Electric Co., Global Wind Service, Nordex SE, Repower AG, Siemens AG, Vestas Wind System AS are a few of the key vendors in the wind turbine services market.
      Rest of European Union will register the highest growth rate of 39.81% among the other regions. Therefore, the wind turbine services market in Rest of European Union is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the wind turbine services market growth are:
      • Rise in wind energy consumption
      The wind turbine services market vendors should focus on grabbing business opportunities from the oem segment as it accounted for the largest market share in the base year.
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