Wind Services Market

Wind Services Market size reached USD 13.5 billion in 2023 and is estimated to reach USD 22.9 billion in 2031 and the market is estimated to grow at a CAGR of 6.8% from 2024-2031.

Wind Services Market Overview

Wind energy refers to the process of using wind to provide mechanical power to the wind turbines, thus facilitating the electric generator. It is a renewable source of energy that has less impact on the environment as compared to other sources of energy. There are two significant applications of wind service: Offshore and Onshore. Offshore wind power includes wind farms built in water bodies such as sea and are used to produce electricity using wind energy. The Onshore wind power consists of wind farms located on land, which helps in producing electricity.

Major Wind Services Market Drivers

The major factors driving the growth of the Global Wind Services market include the growing adoption of renewable source of energy, favorable government policies, and increasing installation of wind turbines. The rising penetration of renewable sources of energy to minimize greenhouse gas (GHG) emissions across the world, followed by the increasing number of offshore and onshore turbines are fuelling the growth of the market. In addition to this, several countries’ governments are also providing subsidies to encourage green clean energy usage. Countries such as the US, China, and UK are widely adopting offshore wind turbines, thereby having a positive impact on the growing demand of the market. However, the high operational and maintenance cost of wind services are hampering the growth of the market.

Based on the Application, the offshore segment is expected to grow at a higher CAGR in the market during the forecast period owing to its better efficiency level as compared to the onshore wind turbines driven by the consistent speed and direction of the wind on the offshore location. Moreover, countries such as China, UK, and Germany are mainly focussing on the development of offshore wind farms to improve the grid energy storage capacity in their countries.

Regional – Segment Analysis

Based on the region, North America is anticipated to lead the global Wind Services market during the forecast period owing to the increasing acceptance of clean energy to reduce the emission of greenhouse gases, which will increase the demand for wind services to ensure optimal performance of wind turbines.

Top Market Players

The major key players in the market include Siemens Gamesa Renewable Energy, General Electric, Nordex SE, Senvion S.A., Suzlon Energy Ltd., ABB, Vestas, Enercon GmbH, Upwind Solutions, Inc., and Aeronautica WindPower, among others.

Key Developments:

• • In Jan 2020, General Electric entered into multi-year service contract to supply Cypress Turbines for 132 MW onshore wind farm to Swedish wind power company OX2.
  • In May 2019, Siemens Gamesa entered into a four-year O&M agreement with Pattern Energy for 218 MW. Panhandle Wind 1 facility consisting of 118 units of 1.85-87 MW GE turbines. With this agreement, Siemens Gamesa expanded its multi-brand service footprint.

Segments covered in the Report:

The Global Wind Services market has been segmented based on the Application and Region. Based on Application, the market is segmented into Offshore and Onshore.

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Report Coverage	Details
Market Revenues (2023)	USD 13.5 billion
Market Base Year	2023
Market Forecast Period	2024-2031
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Siemens Gamesa Renewable Energy, General Electric, Nordex SE, Senvion S.A., Suzlon Energy Ltd., ABB, Vestas, Enercon GmbH, Upwind Solutions, Inc., and Aeronautica WindPower; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Wind Services Market by Type

• • OEMS
  • Independent Service Providers
  • WFO (In-House)
  • Others

Global Wind Services Market by Application

• • Onshore
  • Off-shore
  • Others

Global Wind Services Market by Region

• • North America Wind Services Market (Option 1: As a part of the free 25% customization)

    • By Type
    • By Application
    • US All-Up Market
    • Canada All-Up Market

  • Europe Wind Services Market (Option 2: As a part of the free 25% customization)

    • By Type
    • By Application
    • United Kingdom (UK) All-Up Market
    • Germany All-Up Market
    • France All-Up Market
    • Spain All-Up Market
    • Rest of Europe All-Up Market

  • Asia-Pacific Wind Services Market (Option 3: As a part of the free 25% customization)

    • By Type
    • By Application
    • China All-Up Market
    • India All-Up Market
    • Japan All-Up Market
    • Rest of APAC All-Up Market

  • ROW Wind Services Market (Option 4: As a part of the free 25% customization)

    • By Type
    • By Application
    • Brazil All-Up Market
    • South Africa All-Up Market
    • Saudi Arabia All-Up Market
    • UAE All-Up Market
    • Rest of world (remaining countries of the LAMEA region) All-Up Market

Global Wind Services Market Leading Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Siemens Gamesa Renewable Energy
  • General Electric
  • Nordex SE
  • Senvion S.A.
  • Suzlon Energy Limited
  • ABB
  • Vestas
  • Enercon GmbH
  • Upwind Solutions, Inc.
  • Aeronautica WindPower