Europe - Wind Turbine Services Market by Application, and Type - Forecast and Analysis 2024-2028
| Published: Oct 2023 | Pages: 156 | SKU: IRTNTR71739 |
Wind Turbine Services Market in Europe Report 2024-2028
The Europe - wind turbine services market size is estimated to grow at a CAGR of 8.48% between 2023 and 2028. The market size is forecast to increase by USD 2,889.72 million. The growth of the market depends on several factors such as the rise in wind energy consumption, expansion in offshore wind, and the rising need for grid stabilization and energy storage.
Wind Turbine Services Market in Europe Overview :
- The market segmentation by Application includes on-shore and off-shore.
- The market segmentation by Type includes OEM, ISP, and in-house.
- Application is fastest growing segment during the forecast year.
- The on-shore segment was the largest segment and was valued at USD 2,804.17 million in 2018.
- It also includes an in-depth analysis of drivers (Rise in wind energy consumption), trends (Development of hybrid model), and challenges (Intermittency of wind power).
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Wind Turbine Services Market In Europe Trends
The development of a hybrid model is the primary trend shaping market growth. The production of electricity is boosted by the technology of hybrid wind towers. A hybrid wind tower system, which offers off-grid electrical storage services, is a separate structure. These towers are high enough that they're able to provide a lot of energy. There are different hybrid models, which combine two technologies.
Moreover, the hybrid systems use solar power in summer and wind power in winter, which addresses the issues related to the intermittency of wind turbines. Consequently, the raised implementation of hybrid wind power systems in Europe will drive the need for wind turbine services during the forecast period.
Wind Turbine Services Market in Europe Largest-Growing Segments
Application Analysis
The on-shore segment is estimated to witness significant growth during the forecast period. Ensuring that offshore wind turbines continue to perform effectively and last for a long period of time requires frequent maintenance, inspections, and repairs. As wind turbine technology evolves, operators often seek to improve the performance, efficiency, and reliability of existing turbines. Retrofitting and upgrading services help modernize older turbines and bring them up to current standards.
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Onshore wind turbine services may involve the replacement of specific components such as blades, gearboxes, and generators. This is done to address wear and tear or to improve performance. Onshore wind turbine services are often tailored to meet the specific requirements of individual wind farms or turbines, considering factors such as location, climate, and turbine type. Thus, the rise in onshore wind turbine installations will drive the growth of the Europe - wind turbine services market during the forecast period.
Wind Turbine Services Market in Europe Dynamic
Key Europe Wind Turbine Services Market Driver
Expansion in offshore wind is the key factor driving market growth. The offshore wind power plants can benefit from stronger and more consistent winds, which will lead to increased energy production. The demand for services related to wind turbines is driven by this high growth potential. Compared to onshore installations, offshore wind farms are typically larger and more complex. The maintenance and servicing of offshore wind turbines require specialized equipment and expertise, leading to a requirement for offshore maintenance services.
Furthermore, the economic and environmental benefits of offshore wind power drive investments in servicing and maintaining these projects. Offshore wind farms require effective integration into the national power grid, necessitating maintenance and services to ensure grid reliability and stability. Thus, expansion in offshore wind will propel the growth of the wind turbine services market in Europe during the forecast period.
Key Europe Wind Turbine Services Market Challenge
The complexity of offshore wind is a challenge that affects market growth. Compared to onshore turbines, offshore wind turbines are subjected to more harsh and corrosive conditions. The combination of salt water, strong winds, and the waves may lead to wear and corrosion which will require more frequent maintenance. Offshore wind turbines are located at a distance from the coast, making access and transportation for maintenance and inspections more challenging. Proper corrosion protection and maintenance are crucial to extend the life of turbine components.
Furthermore, developing and maintaining remote monitoring systems can be challenging. The logistics of transporting equipment, spare parts, and personnel to offshore wind farms can be complex and costly. Weather conditions can also negatively affect wind turbine services. Hence, the complexity of offshore wind will impede the growth of the market during the forecast period.
Wind Turbine Services Market In Europe Customer Landscape
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Wind Turbine Services Market in Europe Customer Landscape
Major Wind Turbine Services Market in Europe Companies
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABB Ltd.: The company offers wind turbine services which includes efficiency improvement and production increase while improving reliability and reducing levelized cost of energy over the lifetime of turbine and wind farm.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
- Acciona SA
- B9 Energy Ltd.
- Buss Energy Group GmbH
- Deutsche Windtechnik AG
- E.ON SE
- Emergya Wind Technologies BV
- Enercon Services Inc.
- Fassmer Industrial Service GmbH and Co. KG
- Fred. Olsen Ocean AS
- General Electric Co.
- Ingeteam Corp. S.A.
- Nordex SE
- Orsted AS
- P and A Renewable Services
- PNE AG
- Repower AG
- Siemens AG
- Vestas Wind Systems AS
- Suzlon Energy Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Segment Overview
The wind turbine services market in Europe report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
- Application Outlook (USD Million, 2018-2028)
- On-shore
- Off-shore
- Type Outlook (USD Million,2018-2028)
- OEM
- ISP
- In-house
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Wind Turbine Services Market In Europe Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.48% |
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Market growth 2024-2028 |
USD 2,889.72 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.3 |
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Regional analysis |
Europe |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABB Ltd., Acciona SA, B9 Energy Ltd., Buss Energy Group GmbH, Deutsche Windtechnik AG, E.ON SE, Emergya Wind Technologies BV, Enercon Services Inc., Fassmer Industrial Service GmbH and Co. KG, Fred. Olsen Ocean AS, General Electric Co., Ingeteam Corp. S.A., Nordex SE, Orsted AS, P and A Renewable Services, PNE AG, Repower AG, Siemens AG, Vestas Wind Systems AS, and Suzlon Energy Ltd. |
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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 forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Wind Turbine Services Market In Europe In Regional Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the market between 2024 and 2028
- Precise estimation of the size of the market size and its contribution of the market in focus to the parent market
- Accurate predictions about upcoming trends and changes in consumer behaviour
- Growth of the market industry across Europe
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of market companies
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Europe - Market size and forecast 2023-2028 ($ million)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ million)
- Exhibit 16: Chart on Europe: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ million)
4 Historic Market Size
- 4.1 Wind turbine services market in Europe 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on wind turbine services market in Europe 2018 - 2022 ($ million)
- 4.2 Application Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ million)
- 4.3 Type Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Type Segment 2018 - 2022 ($ million)
- 4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 29: Chart on Application - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Application - Market share 2023-2028 (%)
- 6.2 Comparison by Application
- Exhibit 31: Chart on Comparison by Application
- Exhibit 32: Data Table on Comparison by Application
- 6.3 On-shore - Market size and forecast 2023-2028
- Exhibit 33: Chart on On-shore - Market size and forecast 2023-2028 ($ million)
- Exhibit 34: Data Table on On-shore - Market size and forecast 2023-2028 ($ million)
- Exhibit 35: Chart on On-shore - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on On-shore - Year-over-year growth 2023-2028 (%)
- 6.4 Off-shore - Market size and forecast 2023-2028
- Exhibit 37: Chart on Off-shore - Market size and forecast 2023-2028 ($ million)
- Exhibit 38: Data Table on Off-shore - Market size and forecast 2023-2028 ($ million)
- Exhibit 39: Chart on Off-shore - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Off-shore - Year-over-year growth 2023-2028 (%)
- 6.5 Market opportunity by Application
- Exhibit 41: Market opportunity by Application ($ million)
- Exhibit 42: Data Table on Market opportunity by Application ($ million)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 43: Chart on Type - Market share 2023-2028 (%)
- Exhibit 44: Data Table on Type - Market share 2023-2028 (%)
- 7.2 Comparison by Type
- Exhibit 45: Chart on Comparison by Type
- Exhibit 46: Data Table on Comparison by Type
- 7.3 OEM - Market size and forecast 2023-2028
- Exhibit 47: Chart on OEM - Market size and forecast 2023-2028 ($ million)
- Exhibit 48: Data Table on OEM - Market size and forecast 2023-2028 ($ million)
- Exhibit 49: Chart on OEM - Year-over-year growth 2023-2028 (%)
- Exhibit 50: Data Table on OEM - Year-over-year growth 2023-2028 (%)
- 7.4 ISP - Market size and forecast 2023-2028
- Exhibit 51: Chart on ISP - Market size and forecast 2023-2028 ($ million)
- Exhibit 52: Data Table on ISP - Market size and forecast 2023-2028 ($ million)
- Exhibit 53: Chart on ISP - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on ISP - Year-over-year growth 2023-2028 (%)
- 7.5 In-house - Market size and forecast 2023-2028
- Exhibit 55: Chart on In-house - Market size and forecast 2023-2028 ($ million)
- Exhibit 56: Data Table on In-house - Market size and forecast 2023-2028 ($ million)
- Exhibit 57: Chart on In-house - Year-over-year growth 2023-2028 (%)
- Exhibit 58: Data Table on In-house - Year-over-year growth 2023-2028 (%)
- 7.6 Market opportunity by Type
- Exhibit 59: Market opportunity by Type ($ million)
- Exhibit 60: Data Table on Market opportunity by Type ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 61: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 62: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 63: Data Table on Market share by geography - 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 64: Chart on Geographic comparison
- Exhibit 65: Data Table on Geographic comparison
- 9.3 Germany - Market size and forecast 2023-2028
- Exhibit 66: Chart on Germany - Market size and forecast 2023-2028 ($ million)
- Exhibit 67: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
- Exhibit 68: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 69: Data Table on Germany - Year-over-year growth 2023-2028 (%)
- 9.4 UK - Market size and forecast 2023-2028
- Exhibit 70: Chart on UK - Market size and forecast 2023-2028 ($ million)
- Exhibit 71: Data Table on UK - Market size and forecast 2023-2028 ($ million)
- Exhibit 72: Chart on UK - Year-over-year growth 2023-2028 (%)
- Exhibit 73: Data Table on UK - Year-over-year growth 2023-2028 (%)
- 9.5 Sweden - Market size and forecast 2023-2028
- Exhibit 74: Chart on Sweden - Market size and forecast 2023-2028 ($ million)
- Exhibit 75: Data Table on Sweden - Market size and forecast 2023-2028 ($ million)
- Exhibit 76: Chart on Sweden - Year-over-year growth 2023-2028 (%)
- Exhibit 77: Data Table on Sweden - Year-over-year growth 2023-2028 (%)
- 9.6 Spain - Market size and forecast 2023-2028
- Exhibit 78: Chart on Spain - Market size and forecast 2023-2028 ($ million)
- Exhibit 79: Data Table on Spain - Market size and forecast 2023-2028 ($ million)
- Exhibit 80: Chart on Spain - Year-over-year growth 2023-2028 (%)
- Exhibit 81: Data Table on Spain - Year-over-year growth 2023-2028 (%)
- 9.7 Rest of Europe - Market size and forecast 2023-2028
- Exhibit 82: Chart on Rest of Europe - Market size and forecast 2023-2028 ($ million)
- Exhibit 83: Data Table on Rest of Europe - Market size and forecast 2023-2028 ($ million)
- Exhibit 84: Chart on Rest of Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 85: Data Table on Rest of Europe - Year-over-year growth 2023-2028 (%)
- 9.8 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)
- Exhibit 87: Data Table on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 88: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 89: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 90: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 91: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 92: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 93: Matrix on vendor position and classification
- 12.3 ABB Ltd.
- Exhibit 94: ABB Ltd. - Overview
- Exhibit 95: ABB Ltd. - Business segments
- Exhibit 96: ABB Ltd. - Key offerings
- Exhibit 97: ABB Ltd. - Segment focus
- 12.4 Acciona SA
- Exhibit 98: Acciona SA - Overview
- Exhibit 99: Acciona SA - Business segments
- Exhibit 100: Acciona SA - Key news
- Exhibit 101: Acciona SA - Key offerings
- Exhibit 102: Acciona SA - Segment focus
- 12.5 E.ON SE
- Exhibit 103: E.ON SE - Overview
- Exhibit 104: E.ON SE - Business segments
- Exhibit 105: E.ON SE - Key news
- Exhibit 106: E.ON SE - Key offerings
- Exhibit 107: E.ON SE - Segment focus
- 12.6 Emergya Wind Technologies BV
- Exhibit 108: Emergya Wind Technologies BV - Overview
- Exhibit 109: Emergya Wind Technologies BV - Product / Service
- Exhibit 110: Emergya Wind Technologies BV - Key offerings
- 12.7 Enercon Services Inc.
- Exhibit 111: Enercon Services Inc. - Overview
- Exhibit 112: Enercon Services Inc. - Product / Service
- Exhibit 113: Enercon Services Inc. - Key offerings
- 12.8 Fassmer Industrial Service GmbH and Co. KG
- Exhibit 114: Fassmer Industrial Service GmbH and Co. KG - Overview
- Exhibit 115: Fassmer Industrial Service GmbH and Co. KG - Product / Service
- Exhibit 116: Fassmer Industrial Service GmbH and Co. KG - Key offerings
- 12.9 Fred. Olsen Ocean AS
- Exhibit 117: Fred. Olsen Ocean AS - Overview
- Exhibit 118: Fred. Olsen Ocean AS - Product / Service
- Exhibit 119: Fred. Olsen Ocean AS - Key offerings
- 12.10 General Electric Co.
- Exhibit 120: General Electric Co. - Overview
- Exhibit 121: General Electric Co. - Business segments
- Exhibit 122: General Electric Co. - Key news
- Exhibit 123: General Electric Co. - Key offerings
- Exhibit 124: General Electric Co. - Segment focus
- 12.11 Ingeteam Corp. S.A.
- Exhibit 125: Ingeteam Corp. S.A. - Overview
- Exhibit 126: Ingeteam Corp. S.A. - Product / Service
- Exhibit 127: Ingeteam Corp. S.A. - Key offerings
- 12.12 Nordex SE
- Exhibit 128: Nordex SE - Overview
- Exhibit 129: Nordex SE - Business segments
- Exhibit 130: Nordex SE - Key offerings
- Exhibit 131: Nordex SE - Segment focus
- 12.13 PNE AG
- Exhibit 132: PNE AG - Overview
- Exhibit 133: PNE AG - Business segments
- Exhibit 134: PNE AG - Key offerings
- Exhibit 135: PNE AG - Segment focus
- 12.14 Repower AG
- Exhibit 136: Repower AG - Overview
- Exhibit 137: Repower AG - Business segments
- Exhibit 138: Repower AG - Key offerings
- Exhibit 139: Repower AG - Segment focus
- 12.15 Siemens AG
- Exhibit 140: Siemens AG - Overview
- Exhibit 141: Siemens AG - Business segments
- Exhibit 142: Siemens AG - Key news
- Exhibit 143: Siemens AG - Key offerings
- Exhibit 144: Siemens AG - Segment focus
- 12.16 Suzlon Energy Ltd.
- Exhibit 145: Suzlon Energy Ltd. - Overview
- Exhibit 146: Suzlon Energy Ltd. - Business segments
- Exhibit 147: Suzlon Energy Ltd. - Key offerings
- Exhibit 148: Suzlon Energy Ltd. - Segment focus
- 12.17 Vestas Wind Systems AS
- Exhibit 149: Vestas Wind Systems AS - Overview
- Exhibit 150: Vestas Wind Systems AS - Business segments
- Exhibit 151: Vestas Wind Systems AS - Key news
- Exhibit 152: Vestas Wind Systems AS - Key offerings
- Exhibit 153: Vestas Wind Systems AS - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 154: Inclusions checklist
- Exhibit 155: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 156: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 157: Research methodology
- Exhibit 158: Validation techniques employed for market sizing
- Exhibit 159: Information sources
- 13.5 List of abbreviations
- Exhibit 160: 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.
INFORMATION 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
DATA 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
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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wind turbine services market in europe market
Key Questions Answered
- What are the key global market and the regional market share?
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- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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