The global wind Operations and Maintenance (O&M) is estimated to increase from US$ 10 billion in 2015 to US$ 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 O&M of a wind farm is essential as it contributes to value creation, increases turbine availability and increases returns. Drivers of the market include advancing technologies, increasing demand for wind power, and innovation in components and predictive maintenance. Technological improvements and innovations will also help to drive down wind O&M costs.
