According to research and consulting firm GlobalData, the rapid pace of wind energy capacity is expected to help increase the value of the operations and maintenance market from $3 billion in 2008 to $19 billion by 2020.
A recent report from the company states that more than 191 GW of wind power capacity was added between 2008 and 2012, which increased O&M expenditure over the same period from $3 billion to $7 billion.
GlobalData stated the U.S. is the largest O&M market globally, but it expects China to pass the U.S. to become the leader in O&M expenditure by 2020. The report also notes that offshore wind power projects higher O&M costs than onshore wind projects, with offshore expected to reach a market size of $5 billion in 2020.
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