Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe

Global wind O&M market set for growth to $17 billion by 2020, says GlobalData

By Michelle Froese | August 11, 2016

windpower

The growth of the wind energy market is fueled, in part, by depleting fossil fuel reserves, declining costs of wind generation, and advanced O&M developments.

The global wind Operations and Maintenance (O&M) is estimated to increase from $10 billion in 2015 to $17 billion by 2020, at a compound annual growth rate of 11.2%, according to research and consulting firm GlobalData.

The company’s latest viewpoint states that technological developments have paved the way for more effective and reliable equipment and machinery, making wind one of the fastest-growing energy sources in the global market.

The exponential growth of the wind energy market is fueled by depleting fossil fuel reserves, the declining cost of wind energy generation, and a growing sensitivity for the environment, supported by financial incentives by various governments across the world.

Ankit Mathur, GlobalData’s Practice Head for Power, explains: “The O&M of a wind farm is essential as it contributes to value creation, increases turbine availability – lowering downtime – and increases returns. Regular O&M reduces the downtime of a turbine and optimizes electricity generation, which results in an increase in revenue.”

Drivers of the market include advancing technologies, increasing demand for wind power, and innovation in components, and predictive maintenance.

“Advanced connected technologies such as the Internet of Things (IoT) will enable a much more effective and efficient evaluation of wind turbines along with its associated components. The IoT platform, through its collective and predictive analytics, can alert a service provider to any machinery problems in advance and to stay away from any crucial issues,” continues Mathur.

“Technological improvements and innovations will also help to drive down wind O&M costs. Direct-drive technology and tension control measurement technology for turbine bolts are considered among the innovations that significantly decrease such costs. Direct-drive technology works by eliminating the gearbox, which is one of the major areas of failure in a turbine.”

“Tension control measurement works by minimizing bolted joint failures caused by insufficient bolt tension in wind installations. Although nuts and bolts are simple devices, their failure can be costly.”


Filed Under: News, O&M
Tagged With: GlobalData
 

About The Author

Michelle Froese

Related Articles Read More >

US government allows Empire Wind offshore project to resume construction
Richardson Electronics to deliver pitch energy modules to TransAlta wind fleets
Equinor halts work on Empire Wind offshore project after federal government order
ARESCA wants input on offshore wind standards

Podcasts

Wind Spotlight: Looking back at a year of Thrive with ZF Wind Power
See More >

Windpower Engineering & Development Digital Edition

Digital Edition

Browse the most current issue of Windpower Engineering & Development and back issues in an easy to use high quality format. Clip, share and download with the leading wind power engineering magazine today.

Windpower Engineering & Development
  • Wind Articles
  • Solar Power World
  • Subscribe to Windpower Engineering
  • About Us/Contact Us

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising

Search Windpower Engineering & Development

  • Home
  • Articles
    • Most recent posts
    • News
    • Featured
  • Resources
    • Digital issues
    • Podcasts
    • Suppliers
    • Webinars
    • Events
  • Videos
  • 2025 Leadership
    • 2024 Winners
    • 2023 Winners
    • 2022 Winners
  • Magazine
  • Advertise
  • Subscribe