Wind Power Service Market to Almost Double by 2020: Make
The market for servicing wind turbines will almost double by 2020 as capacity grows, the Danish advisory firm Make Consulting said.
Annual revenues from monitoring and repairing wind turbines may surge to more than $13 billion in 2020 from $7.1 billion last year, Aarhus, Denmark-based Make said today in a report. It projected that 300 gigawatts of capacity will be installed through 2020, doubling current generating capacity and boosting the needs for maintenance.
Turbine manufacturers including Vestas Wind Systems A/S (VWS) and Gamesa Corp. (GAM) Tecnologica SA are ramping up efforts to secure service contracts, which Vestas says yield higher margins than turbine sales and increase profitability. More than half of servicing worldwide is carried out by turbine manufacturers, Aaron Barr, a consultant at Make in Boston said in an e-mail.
Manufacturers “are attracted to the services market due to reliable and repeatable high margin revenue, primarily due to the growing fleet of serviceable wind turbines,” Barr said. “This focus is reinforced by uncertainty on new turbine sales orders and technical competitive advantages” that they have over independent service providers and the utilities that own the wind farms.
Comments (0)
This post does not have any comments. Be the first to leave a comment below.
Featured Product
HPS EnduraCoilTM Cast Resin Medium Voltage Transformer
HPS EnduraCoil is a high-performance cast resin transformer designed for many demanding and diverse applications while minimizing both installation and maintenance costs. Coils are formed with mineral-filled epoxy, reinforced with fiberglass and cast to provide complete void-free resin impregnation throughout the entire insulation system. HPS EnduraCoil complies with the new NRCan 2019 and DOE 2016 efficiency regulations and is approved by both UL and CSA standards. It is also seismic qualified per IBC 2012/ASCE 7-10/CBC 2013. Cast resin transformers are self-extinguishing in the unlikely event of fire, environmentally friendly and offer greater resistance to short circuits. HPS also offers wide range of accessories for transformer protection and monitoring requirements.
