TechNavio recognizes the following companies as the key players in the Wind Turbine Service Market in Europe: Enercon GmbH, Gamesa Corporación Tecnológica S.A., Nordex SE, REpower Systems SE, and Siemens AG.
Commenting on the report, an analyst from TechNavio’s team said: “Increasing investment by OEMs is one of the major trends being witnessed in the market. Some OEMs are attempting to enhance their own existing technology and invest in new technology to reduce onshore logistics costs. Many large OEMs are entering into partnerships with local ISPs to maintain a flexible and efficient manpower structure, while reducing costs with regard to logistics. By investing in technology and local ISPs, the OEMs are attracting the IPPs and utilities to enter into long-term contracts for service with OEMs. This not only ensures long-term cash flow for the OEMs but also ensures the long-term project finance, as financiers are increasingly demanding long-term contracts that reduce the cash volatility risk and guarantee stable returns to the financiers.”
According to the report, one of the main drivers in this market is the aging wind farms in Europe. Currently, many wind farms in Europe require servicing so as to maintain a consistent level of efficiency. This increased requirement for services by the wind farms will propel the growth of the market during the forecast period.
Further, the report states that one of the major challenges in this market is the lack of skilled workforce. The lack of skilled workforce in the market has had a negative impact, resulting in a drastic decline in the revenue of the vendors in the recent past.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/wind-turbine-service-market-europe-2014-…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/energy
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TechNavio Announces the Publication of its Research Report -Wind Turbine Service Market in Europe 2014-2018
