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.

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