TechNavio’s analysts forecast that the wind turbine service market in Europe will grow at a compound annual growth rate (CAGR) of 9.02 percent over the period 2013-2018.
One of the key factors contributing to this market growth is the increase in aging wind farms. The wind turbine service market in Europe has also been witnessing the increase in investments by original equipment manufacturers (OEMs). However, the lack of skilled workforce could pose a challenge to the growth of this market.
TechNavio’s report, the Wind Turbine Service Market in Europe 2014-2018 , has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the wind turbine service market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
The key vendors dominating this market space are Enercon GmbH, GAMESA CORPORACIÓN TECNOLÓGICA, S.A, Nordex SE, Repower System AG, and Siemens AG. Other vendors mentioned in the report are GE Energy LLC, Suzlon Energy Ltd, The Weir Group PLC, Vestas Wind Systems A/S, and Windtechnics.
Press release, March 18, 2014; Image: bondaviationgroup