Wind energy growth to provide boost to global O&M market

Wind energy growth to boost global operations and maintenance market O&M GlobalData US China onshore wind offshore wind

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.

To purchase the report, click here.

Read more O&M news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...