Wind industry has grown more than 20 times in past two decades with installations reaching ~370 GW in 2014 from only 17.4 GW in 2000. As the installed base has grown, the need for service has climbed at an above-average pace.
As the market is maturing and fleet is coming out of warranty, many localized independent service provider (ISPs) have emerged into the market, who offer a cost effective alternative to traditional turbine OEMs. The growth trend is expected to continue in coming years, for example, installed capacity in Poland alone is expected to reach 6.6 GW by 2020.
This article presents snapshots of the growing wind services market, which has already witnessed PE investments in several large ISPs of Denmark, Germany and USA since 2008. In addition to this, services like component remanufacturing, up-tower repairs and data based performance optimization are increasingly becoming of high value to the asset owners.
Please Enter your details below to get the copy of our Article