Wind Turbine Service Market in Europe 2014-2018

2014-2018
Wind Turbine Service Market in Europe

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2014-2018

01. Executive Summary .............................................. 1
02. List of Abbreviations .............................................. 2
03. Scope of the Report .............................................. 3
03.1 Market Overview ................................................................. 3
03.2 Service Offerings ................................................................. 3
04. Market Research Methodology ........................... 5
04.1 Market Research Process ................................................... 5
04.2 Research Methodology ...................................................... 5
05. Introduction ........................................................... 7
06. Market Landscape ................................................ 9
06.1 Market Overview ................................................................. 9
06.2 Global Wind Turbine Service Market ............................... 10
06.2.1 Market Size and Forecast by Revenue................................................ 10
06.3 Market Size and Forecast ................................................. 11
06.3.1 Market Size and Forecast by Revenue................................................ 11
06.4 Five Forces Analysis .......................................................... 12
07. Market Segmentation by Service Provider ....... 14
07.1 Segmentation by Service Provider 2013 ......................... 14
07.2 Segmentation by Service Provider 2018 ......................... 15
07.3 Wind Turbine Service Market in Europe by OEMs .......... 17
07.3.1 Market Size and Forecast ....................................................................... 17
CONTENTS

2014-2018
07.4 Wind Turbine Service Market in Europe by ISPs ............. 18
07.5 Wind Turbine Service Market in Europe by In-
house Services Firms ......................................................... 19
08. Market Segmentation by Technology ............... 20
08.1 Wind Turbine Service Market in Europe by
Technology 2013 ............................................................... 20
Technology 2018 ............................................................... 21
Onshore Segment ............................................................. 23
Offshore Segment ............................................................. 24
09. Key Leading Countries ....................................... 25
09.1 Germany ............................................................................ 25
09.2 Spain ................................................................................... 25
09.3 The UK ................................................................................. 26
09.4 Country-wise Segmentation for Wind Turbine
Service Market in Europe 2013 ........................................ 27
10. Buying Criteria ..................................................... 28
11. Market Growth Drivers ........................................ 29
12. Drivers and their Impact ..................................... 32

2014-2018
13. Market Challenges ............................................. 33
14. Impact of Drivers and Challenges ..................... 35
15. Market Trends ...................................................... 36
16. Trends and their Impact ..................................... 38
17. Vendor Landscape ............................................. 39
17.1 Competitive Scenario ....................................................... 39
17.1.1 Key News ................................................................................................... 39
17.1.2 Mergers and Acquisitions ....................................................................... 40
17.2 Other Prominent Vendors ................................................. 40
18. Key Vendor Analysis ........................................... 41
18.1 Enercon GmbH .................................................................. 41
18.1.1 Business Overview .................................................................................... 41
18.1.2 Business Segmentation ........................................................................... 41
18.1.3 Key Information ........................................................................................ 42
18.1.4 SWOT Analysis ........................................................................................... 43
18.2 Gamesa Corporacin Tecnolgica S.A. ........................ 44
18.2.3 Sales by Region ........................................................................................ 45
18.2.4 Key Information ........................................................................................ 45
18.2.5 SWOT Analysis ........................................................................................... 46
18.3 Nordex SE ........................................................................... 47
18.3.3 Key Business Strategies ........................................................................... 47

2014-2018
18.3.4 Key Information ........................................................................................ 48
18.3.5 SWOT Analysis ........................................................................................... 49
18.4 REpower Systems SE .......................................................... 50
18.4.2 Key Information ........................................................................................ 50
18.4.3 SWOT Analysis ........................................................................................... 51
18.5 Siemens AG ....................................................................... 52
18.5.3 Key Information ........................................................................................ 53
18.5.4 SWOT Analysis ........................................................................................... 54
19. Other Reports in this Series ................................. 55


2014-2018

Exhibit 1: Market Research Methodology ....................................... 5
Exhibit 2: Global Wind Turbine Service Market 2013-2018
(US$ billion) ...................................................................... 10
Exhibit 3: Wind Turbine Service Market in Europe 2013-
2018 (US$ billion) .............................................................. 11
Exhibit 4: Wind Turbine Service Market in Europe by
Service Providers 2013 .................................................... 14
Service Providers 2018 .................................................... 15
Service Provider 2013-2018 ........................................... 16
Exhibit 7: Wind Turbine Service Market in Europe by OEMs
2013-2018 (US$ billion) .................................................... 17
Exhibit 8: Wind Turbine Service Market in Europe by ISPs
2013-2018 (US$ billion) .................................................... 18
Exhibit 9: Wind Turbine Service Market in Europe by In-
house Services Firms 2013-2018 (US$ billion) .............. 19
Exhibit 10: Wind Turbine Service Market in Europe
Segmentation by Technology 2013 ............................... 20
Exhibit 11: Wind Turbine Service Market in Europe
Segmentation by Technology 2018 ............................... 21
Technology Segmentation 2013-2018 ......................... 22
EXHIBITS

2014-2018
Onshore Segment 2013-2018 (US$ billion) ..................... 23
Offshore Segment 2013-2018 (US$ billion) ..................... 24
Exhibit 15: Country-wise Segmentation for Wind Turbine
Service Market in Europe 2013 ....................................... 27
Exhibit 16: Wind Energy Installation in the EU 2008-2012
(GW) ................................................................................. 30
Exhibit 17: Offshore Wind Installation Trend in Europe 2008-
2012 (MW) ........................................................................ 37
Exhibit 18: Business Segmentation of Enercon GmbH .................... 41
Exhibit 19: Business Segmentation of Gamesa Corporacin
Tecnolgica S.A. .............................................................. 44
Exhibit 20: Sales by Region of Gamesa Corporacin
Tecnolgica S.A. .............................................................. 45
Exhibit 21: Business Segmentation of Nordex SE ............................. 47
Exhibit 22: Key Business Strategies of Nordex SE ............................. 48
Exhibit 23: Business Segmentation of Siemens AG .......................... 52


2014-2018
01. Executive Summary
Market Size
2013: US$ 2.70 billion
2018: US$ 4.16 billion
Market Growth Rate
2014: 6.88 percent
2018: 11.67 percent
CAGR 9.02 percent
Key Leading Countries
Germany: 39.50 percent
Spain: 26.50 percent
UK: 12.50 percent
Key Customer Segments
Power Utilities
IPPs
Key Market Drivers
Aging Wind Farms
Increasing Installation of Wind Farms in the EU
Preference of Long-term Contracts for Wind Turbine Services
Rising Profit Margin due to High Entry Barriers in the Market
Key Market Challenges
Lack of Skilled Workforce
Financial Risk
Lack of Offshore Support Infrastructure
Uncertainty of Global Economic Conditions
Key Market Trends
Increasing Investment by OEMs
Increase in Technological Advancement
Growing Offshore Wind Farms in Europe
Key Buying Criteria
Warrant Period
Cost
Quality and Time
Flexibility
Key Vendors
Enercon GmbH
Gamesa Corporacin Tecnolgica S.A.
Nordex SE
REpower System SE
Siemens AG


2014-2018
02. List of Abbreviations
APAC - Asia Pacific
CAGR - Compound Annual Growth Rate
EMEA - Europe, the Middle East, and Africa
EU - European Union
GHG - Greenhouse Gas
GW - Gigawatt
IPPs - Independent Power Producers
ISPs - Independent Service Providers
MW - Megawatt
OEMs - Original Equipment Manufacturer
O&M - Operation and Maintenance


2014-2018
03. Scope of the Report
03.1 Market Overview
This report covers the present scenario and the growth prospects of the Wind Turbine Service
market in Europe for the period 2013-2018. The report mainly covers two technology segments:
onshore and offshore wind energy generation, with a detailed study of the service providers. The
market is highly fragmented with the presence of a large number of small and large vendors.
Therefore, the report does not provide the market share of the vendors; it only lists the major
vendors in the market. In addition, the report discusses the major drivers that influence the
growth of the Wind Turbine Service market in Europe. It also outlines the challenges faced by the
vendors and the market at large, as well as the key trends that are emerging in the market.
03.2 Service Offerings
Some of the services offered by the major vendors in the Wind Turbine Service market in Europe
[Keywords] are listed below:
Company Service Offered
Enercon GmbH Maintenance and Repair
System Support Remote Data Monitoring
Technical Support to Turbines
Operator Training
Technical and Commercial issues
Gamesa Corporacin
Tecnolgica S.A.
Ageeing Fleet Solutions
O&M Product and Services
Nordex SE Inspection and Maintenance
Inspection of Safety Equipment
Repair Services
Spare Part Deliveries
Modernization
Technical Enhancement
Condition Monitoring Systems
Customer Training
Remote Monitoring and Remote Management
REpower Systems SE Maintenance Service for Wind Power Plants
Spare Parts Storage
Training

2014-2018
Maintenance for Onshore Wind Power Plants
Online Troubleshooting
Siemens AG Service Programs
Diagnostics
Modernization and Upgrades
Offshore Service Management
Wind Turbine Operator Training


2014-2018
04. Market Research Methodology
04.1 Market Research Process
TechNavio has collected key data related to the Wind Turbine Service market in Europe and
analyzed this data using a variety of methods. The market dynamics have been ascertained
following a detailed study of the micro, meso, and macroeconomic indicators of the market.

04.2 Research Methodology
This report is based on in-depth qualitative and quantitative analyses of the Wind Turbine Service
market in Europe. The quantitative analysis involved the application of various projection and
sampling techniques. The qualitative analysis involved primary interviews, surveys, and vendor
briefings. The data gathered as a result of these processes was validated through experts'
opinions.
Exhibit 1: Market Research Methodology

Source: TechNavio Analysis
Wind Turbine Service
Market in Europe
[Keywords]

2014-2018
Based on the research results and technical insights thus gathered, TechNavio analysts have
provided a comprehensive analysis of the varied aspects of the market. The impact of global
economic conditions and other macroeconomic indicators were also considered while
assessing the market.


2014-2018
05. Introduction
Wind is a renewable resource for generating power with zero carbon emissions. Wind energy has
emerged as one of the world's fastest growing renewable energy generation industries. Energy
generated from wind is cost competitive with traditional energy sources. This form of energy
generation is popular in areas that have high scope to generate wind energy. Europe is one of
the major markets for wind power generation and with increasing installation of wind turbines
across Europe, the demand for service and maintenance is also increasing. The service and
maintenance of wind farms is highly capital intensive as it requires a highly-skilled workforce,
technical know-how, and related support infrastructure. Wind turbine servicing includes both
onshore and offshore servicing, and the services offered are: Periodic Inspection and Testing,
Regular Maintenance, Preventive Maintenance, Repair and Replacement of Wind Turbine
Components, and Certification and Quality Testing.
The Wind Turbine Service market in Europe, which has many services on offer, is expected to
grow at a moderate rate during the period 2013-2018. The majority of the growth stems from
countries with high wind energy generation potential and those with wind turbine installations
such as Germany, Spain, the UK, and Italy. Currently, a major part of the market growth is
contributed by the OEMs. The overall market is expected to grow at a CAGR of 9.02 percent
during the forecast period.
The growth of the Wind Turbine Service market in Europe is driven by several factors. One of the
main drivers in this market is the aging wind farms of Europe. Currently, many wind farms in
Europe require services so as to maintain a consistent level of efficiency. This increased
requirement for servicing from the wind farms has propelled the growth of the market during the
forecast period. Another major driver in this market is the increasing installation of wind energy
facilities across Europe.
Despite the presence of several drivers for this growing market, the growth of the Wind Turbine
Service market in Europe faces some serious challenges. 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.
Another major challenge is the financial risk that accompanies an investment in this industry.
Despite the presence of impeding factors such as the lack of skilled workforce and financial risk,
the Wind Turbine Service market in Europe shows immense potential to grow moderately during
the forecast period due to some emerging trends that are expected to exert a positive influence
on the market during the forecast period. One such trend is the increasing investment by OEMs.

2014-2018
OEMs are signing contracts with wind farm owners for typically 2-5 year periods to retain the
market share for a specific period of time. Another key trend that the market is expected to
witness is an increase in technological advancement.

2014-2018
06. Market Landscape
06.1 Market Overview

Wind Turbine Service Market in
Europe
Technology
Onshore
Segment
Offshore
Segment
Service
Providers
OEMs
ISPs
In-house
Service Firms
Key
Countries
Germany
Spain
UK

2014-2018
06.2 Global Wind Turbine Service Market
06.2.1 Market Size and Forecast by Revenue
The Global Wind Turbine Service market was valued at US$5.59 billion in 2013 and is forecast to
reach US$9.21 billion by 2018, growing at a CAGR of 10.51 percent.
Exhibit 2: Global Wind Turbine Service Market 2013-2018 (US$ billion)

The Global Wind Turbine Service market is expected to grow at a steady rate during the forecast
period. Europe is the largest market for wind turbine services due to the high number of wind
power installations in this region. The various service providers in this market are the following:
OEMs, ISPs and In-house service firms. Also, the increasing demand from end-users such as IPPs
and Utilities is likely to drive the market during the forecast period.


2014-2018
06.3 Market Size and Forecast
06.3.1 Market Size and Forecast by Revenue
The Wind Turbine Service market in Europe was valued at US$2.70 billion in 2013 and is forecast to
reach US$4.16 billion by 2018, growing at a CAGR of 9.02 percent.
Exhibit 3: Wind Turbine Service Market in Europe 2013-2018 (US$ billion)

The Wind Turbine Service market in Europe is expected to witness moderate growth during the
forecast period. The moderate growth of the market is reflective of the expected wind energy
installations in Europe. OEMs are the major revenue contributors for the Wind Turbine Service
market in Europe. Apart from OEMs, the other service providers in the market are ISPs and In-
house service firms. The Offshore Wind Energy segment is expected to increase its contribution in
the Wind Turbine Service market in Europe as currently there is a lot of focus on the offshore
installation of wind turbines. In addition, regular monitoring and servicing of these turbines is
more challenging for offshore wind turbines when compared to onshore wind turbines. This in
turn is expected to propel the growth of the market during the forecast period.


2014-2018
06.4 Five Forces Analysis

Threat of Rivalry
(High)
Competition among the
existing players is high in
Europe. The competition
between OEMs is intense and
companies are competing
to increase their market
share for wind turbine
services.
Bargaining Power of
Suppliers
(Moderate)
The bargaining power of
suppliers is moderate as
limited number of suppliers
are operating in the
market.
Bargaining Power of
Buyers
(Moderate)
The bargaining power of
buyers is moderate as there
are only a limited number of
third party service providers
other than the OEM's
operating in the market.
Threat of New Entrants
(Low)
The probability for new players
entering this market is low
because of the strong
positions that leading players
are holding. A high entry
barrier such as high intial
investment and technological
know-how also does not
attract new entrants.
Threat of Substitutes
(Low)
There are no direct substitutes
for wind services . For wind
farm services, wind farm
owners and utilities have to
opt for service providers who
are limited in number.

2014-2018
Key
The impact of the Five Forces Analysis is graded on the basis of the intensity and duration of their
impact on the current market landscape. The magnitude of the impact has been categorized
as described below:
Low - Negligible or no impact on the market landscape
Moderate - Medium-level impact on the market
Moderately High - Significant impact on the growth of the market
High - Very high impact, with radical influence on the growth of the market

2014-2018
07. Market Segmentation by Service Provider
07.1 Segmentation by Service Provider 2013
In 2013, the OEMs dominated the Wind Turbine Service market in Europe with a 62 percent share
of the overall revenue. OEMs dominate this market due to their long-term contract with IPPs and
utilities. OEMs were followed by ISPs with a share of 26 percent, and In-house service firms with a
12 percent market share in 2013.
Exhibit 4: Wind Turbine Service Market in Europe by Service Providers 2013



2014-2018
07.2 Segmentation by Service Provider 2018
By 2018, OEMs are expected to continue to dominate the market with a share of 59.5 percent.
This segment is expected to be followed by ISPs with a 27.5 percent market share. Further, In-
house service firms are expected to have a steady market share, up by 1 percent, from 12
percent in 2013, to 13 percent in 2018.
Exhibit 5: Wind Turbine Service Market in Europe by Service Providers 2018



2014-2018
Exhibit 6: Wind Turbine Service Market in Europe by Service Provider
2013-2018



2014-2018
07.3 Wind Turbine Service Market in Europe by OEMs
07.3.1 Market Size and Forecast
The OEMs for the Wind Turbine Service market in Europe was valued at US$1.67 billion in 2013 and
is expected to reach US$2.48 billion by 2018, growing at a CAGR of 8.13 percent.
Exhibit 7: Wind Turbine Service Market in Europe by OEMs
2013-2018 (US$ billion)

The OEMs are the major service providers for IPPs and utilities in Europe. The reason for OEMs
commanding a large market share is owed to the warranty that they give IPPs and utilities at the
time of purchase of wind farm components. Also, many OEMs are entering into long-term
contracts in the 5-25 year range which will help them secure long-term financing from IPPs and
utilities. It is expected that the emerging technological advancements will improve the return on
investment of OEMs.


2014-2018
07.4 Wind Turbine Service Market in Europe by ISPs
The ISPs for the Wind Turbine Service market in Europe was valued at US$0.70 billion in 2013 and is
expected to reach US$1.14 billion by 2018, growing at a CAGR of 10.25 percent.
Exhibit 8: Wind Turbine Service Market in Europe by ISPs
2013-2018 (US$ billion)

The ISP is one of the fastest growing segments in the Wind Turbine Service market in Europe. It is
expected to have a good market share during the forecast period as the quality and
technology of service provided by ISPs are likely to increase, thus helping them step up their
market share during the forecast period.


2014-2018
07.5 Wind Turbine Service Market in Europe by In-house Services Firms
The In-house Service Firms for the Wind Turbine Service market in Europe was valued at US$0.32
billion and is expected to reach US$0.54 billion by 2018, growing at a CAGR of 10.78 percent.
Exhibit 9: Wind Turbine Service Market in Europe by In-house Services Firms
2013-2018 (US$ billion)

Currently, In-house service firms account for a very small share of the Wind Turbine Service
market in Europe due to the lack of expertise required for wind turbine services. Another major
reason is the cost and risk associated with the Wind Turbine Service market. It is expected that
many wind farm operators will begin to prefer in-house wind services thus reducing the
operating cost and increasing the overall returns. This indicates that the share for in-house
service firms will increase at a good rate during the forecast period.


2014-2018
08. Market Segmentation by Technology
08.1 Wind Turbine Service Market in Europe by Technology 2013
In terms of technology, the Onshore segment dominated the Wind Turbine Service market in
Europe in 2013 with a share of 90 percent. The major reason for the domination of the Onshore
Segment is the high onshore wind energy potential in Europe. The Onshore segment was
followed by the Offshore segment with a 10 percent share in 2013.
Exhibit 10: Wind Turbine Service Market in Europe Segmentation by Technology 2013



2014-2018
08.2 Wind Turbine Service Market in Europe by Technology 2018
The Onshore segment is expected to dominate the Wind Turbine Service market in Europe with a
share of 75 percent in 2018. The Onshore segment is expected to be followed by the Offshore
segment with a share of 25 percent in 2018. It is expected that offshore wind installations in
Europe will increase with the rapid advancement in technology, also huge offshore wind
potential will help in increasing the market for wind turbine service in Europe.
Exhibit 11: Wind Turbine Service Market in Europe Segmentation by Technology 2018



2014-2018
Exhibit 12: Wind Turbine Service Market in Europe by Technology Segmentation
2013-2018



2014-2018
08.3 Wind Turbine Service Market in Europe by Onshore Segment
The Onshore segment for the Wind Turbine Service market in Europe was valued at US$2.43
billion in 2013 and is forecast to reach US$3.12 billion by 2018, growing at a CAGR of 5.12
percent.
Exhibit 13: Wind Turbine Service Market in Europe by Onshore Segment 2013-2018
(US$ billion)

The Onshore segment is expected to witness rapid growth during the forecast period. The brisk
growth of the market is mainly attributed to the increasing need for renewable energy that can
help improve the quality of the environment and help reduce the global carbon footprint. Being
a service industry, the market growth is totally dependent on the installation of wind energy
generators. Moreover, market vendors are investing large sums of money in R&D activities to
develop technology for wind turbine service that can reduce the operating cost of the vendors.
This in turn is expected to propel the growth of the market during the forecast period.


2014-2018
08.4 Wind Turbine Service Market in Europe by Offshore Segment
The Offshore segment for the Wind Turbine Service market in Europe was valued at US$0.27
billion in 2013 and is forecast to reach US$1.04 billion by 2018, growing at a CAGR of 30.95
percent.
Exhibit 14: Wind Turbine Service Market in Europe by Offshore Segment 2013-2018
(US$ billion)

The Offshore segment will grow at a rapid rate due to the increased installation of offshore wind
energy during the period 2008-2012. This will in turn help the Wind Turbine Service market to grow
during the forecast period. Also, it is expected that during the forecast period, offshore wind
installations will increase due to the high wind energy potential in Europe in addition to
technological advancements. Another major driver for offshore wind installation is the need to
shift focus from traditional power generation to renewable sources. This increase in the
installation of wind energy generators will result in market growth for wind turbine services for the
Offshore segment.


2014-2018
09. Key Leading Countries
The leading countries in the Wind Turbine Service market in Europe in 2013 are as follows:

09.1 Germany
Germany was a major contributor in the Wind Turbine Service market Europe in 2013,
accounting for 39.50 percent of the market. Germany is expected to continue to be the largest
market during the forecast period and has a number of projects in the planning and
development phase.

09.2 Spain
Spain has seen rapid growth in the past decade in the wind power installation sector. In fact,
theoretically, Spain has good potential for generating wind energy, and it was the second
largest market share holder in the Wind Turbine Service market in Europe in 2013, accounting for
26.50 percent of the total market.
Major Driver
Increasing wind energy
installation in the country
Major Challenge
Financial risk
Major Trend
Increasing domestic
competition
The UK
12.50 percent
Spain
26.50 percent
Germany
39.50 percent

2014-2018

09.3 The UK
The UK is the third largest Offshore Wind Energy market in Europe and it accounted for 12.50
percent of the Wind Turbine Service market in Europe in 2013.

Major Driver
Huge wind energy
potential
Major Challenge
Lack of proper
technology
Major Trend
Increasing demand for
wind energy
Major Driver
Technological
advancement
Major Challenge
High cost of wind
service equipment
Major Trend
Increasing investment in
R&D

2014-2018
09.4 Country-wise Segmentation for Wind Turbine Service Market in Europe 2013
In 2013, Germany dominated the Wind Turbine Service market in Europe with a 39.50 percent
share of the overall market in the region. One of the major reasons for Germany's dominance is
the increasing installation of wind energy farms in the country. Germany was followed by Spain
with a share of 26.50 percent, the UK with 12.50 percent, and Italy with 12 percent. Other
countries accounted for 9.50 percent of the market share in 2013.
Exhibit 15: Country-wise Segmentation for Wind Turbine Service Market in Europe
2013


2014-2018
10. Buying Criteria
Parameter Details End-user Segments Significance Attached
Warranty
Period
Refers to the warranty
period provided by the
OEMs to the end-users
Power Utilities

IPPs

Cost

Refers to the overall cost
charged by service
providers to the end-users
Power Utilities

IPPs

Quality and
Time
Refers to the quality and
timeliness of the service
provided by the service
providers to the end-users
Power Utilities

IPPs

Flexibility
Refers to the ability to
upgrade or repair the
component of the wind
farm during a given
environmental condition
Power Utilities

IPPs

Key
The impact of the buying criteria is graded on the basis of the intensity and duration of their
impact on the current market landscape. The magnitude of the impact has been categorized
as described below:
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5

2014-2018
11. Market Growth Drivers
The growth of the Wind Turbine Service market in Europe is driven by several factors. 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. Another major driver in this market is the increasing installation of wind energy
facilities across Europe.
Some of the key drivers of the Wind Turbine Service market in Europe are discussed below:
Aging Wind Farms
Rising Profit Margin due to the High Entry Barriers in the Market
Aging Wind Farms
The aging infrastructure of wind farms in Europe is one of the major drivers for the growth of the
Wind Turbine Service market in Europe. As aging wind farms will require service and
maintenance for components such as gearbox, rotor, yaw motor, yaw drives, controller, and
brakes, the market for wind turbine services in Europe is expected to increase. These
components require continuous service so as to avoid component failure during the operational
life cycle of the equipment. Wind farm components require timely services to improve output
and efficiency; timely service will also avoid expensive repair cost resulting in lower operating
costs. Thus, aging wind farms will contribute toward the growth of the Wind Turbine Service
market in Europe.
Hazardous GHG emissions that threaten the Earths atmosphere and thereby its climate stability
are increasing at an alarming rate. GHG emissions can be reduced to a great extent with the
usage of alternative sources of energy. Since wind energy is one of the most abundant sources
of alternative/renewable energy, it can be used to generate power. The increasing use and
installation of wind energy farms in Europe will drive the Wind Turbine Service market in Europe.
Every wind farm will require a service of its components during its operational life time to avoid
the failure and replacement of its components. Hence, the increasing installation of wind energy
farms in the EU will drive the growth of Wind Turbine Service market in Europe. The projected
growth of installations of wind energy facilities in the EU in 2008-2012 is shown in the exhibit
below:

2014-2018
Exhibit 16: Wind Energy Installation in the EU 2008-2012 (GW)

Many OEMs across Europe are securing long-term service contracts for wind farms/turbines to
maintain a stable cash flow during volatile market conditions. Also, these long-term contracts will
assure wind farm owners of performance guarantee and predictable maintenance costs. Long-
term contracts will ensure revenue for OEMs and also increase the market for wind turbine
service in Europe. This long-term plan can be applied for warranty contracts or for full service
contracts, the tenure for which can be 5-25 years for both new and existing customers. For
instance, Vestas has secured a five-year service agreement from ENMAX Energy Corporation for
the Kettles Hill Wind Farm which guarantees an energy-based availability and also ensures the
turbines are in good shape. This gives the owner a guarantee of performance of the wind farms
and ensures revenue for OEMs. Therefore, long-term contracts for wind turbine service will drive
the market for the Wind Turbine Service market in Europe.
Rising Profit Margin due to the High Entry Barriers in the Market
Profit margins for existing vendors in this sector are high as there are limited vendors in the market
for wind turbine servicing due to high entry barriers which gives them pricing power. High initial
investment, technological know-how, and skilled labor are some of the reasons for the high entry
barriers in this market. Currently, service provider companies are seeing good profit margins and
this is likely to increase as many wind farms are coming out of their warranty periods, giving
vendors the opportunity to secure long-term contracts and ensure high profitability. Also, these

2014-2018
vendors gain the trust of IPPs and utilities which gives them confidence to take the service
contracts during a particular course of time.

2014-2018
12. Drivers and their Impact

Driver
Impact on End-user Category
Utilities IPPs
Aging Wind Farms

Increasing Installation of
Wind Farms in the EU

Preference of Long-term
Contracts for Wind Turbine
Services

Rising Profit Margin due to
High Entry Barriers in the
Market

Driver
Impact on Geography
Europe
Aging Wind Farms z

Increasing Installation of
Wind Farms in the EU

Preference of Long-term
Contracts for Wind Turbine
Services

Rising Profit Margin due to
High Entry Barriers in the
Market

Key
The impact of the drivers is graded on the basis of the intensity and duration of their impact on
the current market landscape. The magnitude of the impact has been categorized as
described below:
Medium - Medium-level impact on the market
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5
Low High
1 2 3 4 5

2014-2018
13. Market Challenges
Despite the presence of several drivers, the growth of the Wind Turbine Service market in Europe
faces some serious challenges. 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. Another major challenge is the
financial risk that accompanies an investment in this industry.
Some of the key challenges in the Wind Turbine Service market in Europe are discussed below:
Financial Risk
The lack of skilled workforce is one of the major challenges for the Wind Turbine Service market in
Europe. The service of wind farms/turbines requires highly-skilled labor and expertise; this
expertise is majorly possessed by experienced vendors in the market. Regional and local vendors
find it difficult to provide the required service within the specified time while maintaining
minimum quality standards. This lack of skilled workforce gives an added advantage to
established players; in turn giving them pricing power due to the lack of competitors in the
market. Due to high pricing many small-scale IPPs do not get timely services of their wind farms
as it requires high investment. Hence, the lack of skilled workforce is hampering the growth of
Wind Turbine Service market in Europe.
Financial Risk
The service of wind farms/turbines requires huge investments by the service providers, especially
for offshore wind farms, where different types of infrastructure and services are required. The cost
and return on investment on the service depends on global economic conditions,
environmental issues, and right technological know-how. The service providers are responsible
for all the costs incurred for the service of the wind farm/turbine during the contract life cycle.
Service providers work with a financial risk, as payments are made to them only after the service
is satisfactorily rendered. And they also have to secure financing for the project from financial
institutes such as banks before the project commences, thus increasing the liability for the
service providers.

2014-2018
The lack of offshore support infrastructure is another major challenge in Wind Turbine Service
market in Europe. An offshore wind farm service requires a high level of investment and
infrastructure. The infrastructure requires port infrastructure, vessel availability, and engineering
services. Many local and regional vendors do not possess these facilities as the infrastructure is
highly capital intensive, therefore, many large and established vendors dominate the Offshore
Wind Turbine Services market. Also, offshore wind turbine servicing requires scheduling as port
and vessels are limited and they have to be available during the period when the service is
required.
The uncertainty of the global economic conditions poses a considerable risk to the Wind Turbine
Service market in Europe. Moreover, financial markets have become volatile due to fluctuating
global economic conditions. This could reduce demand for wind farm/turbine services due to
the high investment required during an uncertain economic period. Furthermore, deteriorating
economic conditions are expected to have a negative influence on organizational operations
with respect to supply and value chains. Hence, the uncertainty of global economic conditions
is a major challenge to the growth of the market during the forecast period.

2014-2018
14. Impact of Drivers and Challenges

Key
The impact of the drivers and challenges is graded on the basis of the intensity and duration of
their impact on the current market landscape. The magnitude of the impact has been
categorized as described below:
Moderately High - Significant impact on the growth of the market

2014-2018
15. Market Trends
Despite the presence of serious challenges, the Wind Turbine Service market in Europe shows
immense potential to grow moderately during the forecast period due to some emerging trends
that are expected to exert a positive influence on the market during the forecast period. One
such trend is the increasing investment by OEMs. OEMs are signing contracts for typically 2-5
year periods to retain the market share for a specific period of time. Another key trend that the
market is expected to witness is an increase in technological advancement.
Some of the major trends in the Wind Turbine Service market in Europe are discussed below:
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.
Over the years, there has been a tremendous increase in technological advancements such as
the use of direct drive turbine technology, which has a high cost-saving potential by eliminating
the gearbox, which is the major cost-incurring component when it comes to the service of wind
farms/turbines. Many vendors are moving toward direct drive turbines due to the failure of
gearboxes during past couple of years. The profit margins of the service provider will
consequently increase as the cost incurred on the repair of gearboxes will be eliminated by the
use of direct drive turbines. Direct drive turbines will reduce the risk for service providers as
regular repairs need not be undertaken. Hence, technological advancements are expected to
propel the growth of the Wind Turbine Service market in Europe during the forecast period.

2014-2018
The Offshore Wind Energy sector in Europe has grown at a rapid rate during the period 2008-
2012, at a CAGR of 35.2 percent. The cumulative installed capacity of offshore wind energy in
Europe reached 4,995 MW in 2012 from 1,496 MW in 2008. The growth in the Offshore Wind
Energy sector will drive the market for wind turbine services in Europe as these offshore wind
farms will require continuous service for all their components during the wind farm's life cycle.
Also, the servicing of offshore wind farms requires huge investment by both the service provider
and the IPPs because these wind farms require port infrastructure, vessels, and expert
engineering services. Hence, the growth of the strong Offshore Wind Energy sector in Europe will
increase the market for the Wind Turbine Service market in Europe. The increasing offshore
installation of wind energy farms in Europe in 2008-2012 is shown in the exhibit below:
Exhibit 17: Offshore Wind Installation Trend in Europe 2008-2012 (MW)



2014-2018
16. Trends and their Impact

Key
The impact of the trends is graded on the basis of the intensity and duration of their impact on
the current market landscape. The magnitude of the impact has been categorized as
described below:

2014-2018
17. Vendor Landscape
17.1 Competitive Scenario
The Wind Turbine Service market in Europe has a number of small and large vendors across
Europe. The market is characterized by the presence of well-diversified international, regional,
and local vendors. Local or regional vendors dominate the market in several developing and
underdeveloped countries that have small capacity wind farms; thereby the competition
among the vendors is increased. The Wind Turbine Service market in Europe is expected to
witness rapid growth in the future due to the growing onshore and offshore wind energy
installation across Europe.
17.1.1 Key News
October 2013: REpower Systems SE announced the completion of the installation of its
5,000th turbine
July 2013: The first offshore wind turbine installed in Spain commissioned by Gamesa
July 2013 : Gamesa lands a 10-year contract to service 234 MW for Veronagest in Italy
June 2013: Gamesa sells a 15 MW capacity wind farm in Scotland to infrastructure investor
John Laing
June 2013: Nordex SE build's Ireland's largest installed wind farms
May 2013: Gamesa completes the assembly of the first offshore turbine installed in Spain
April 2013: REpower Systems SE crosses the installation of 1 GW of wind farms in the UK
September 2012: REpower Systems SE delivers the tallest turbine type to Austria
September 2012: Siemens AG showcased its direct drive wind generators at the Husum Wind
Energy 2012 Trade Fair in Germany


2014-2018
17.1.2 Mergers and Acquisitions
February 2011: Siemens acquired Telsa Power and Automation Inc.
17.2 Other Prominent Vendors
Company Description
GE Energy LLC Wind Product and Services
Suzlon Energy Ltd. Wind Power Solution Providers
The Weir Group plc Wind Product and Services
Vestas Wind Systems A/S Wind Product and Services
Windtechnics Wind Turbine Maintenance and Service


2014-2018
18. Key Vendor Analysis
18.1 Enercon GmbH
18.1.1 Business Overview
Enercon GmbH is a developer and manufacturer of wind turbines, and it is one of the leading
manufacturers of wind turbines in the world. This Germany-based manufacturer was established
in 1984, and it has introduced many new technologies in the market (for instance, gearless wind
turbines). The company has installed more than 17,000 wind turbines in over 30 countries. These
turbines generate a total power output of around 22 GW per year. The company's primary
customers include energy companies in Canada, Australia, India, and several countries in
Europe and South America. It has production facilities in Germany, Sweden, Brazil, India, Turkey,
and Portugal.
18.1.2 Business Segmentation
The business segments of Enercon are depicted in the diagram below:
Exhibit 18: Business Segmentation of Enercon GmbH

Under these business segments, the company offers various solutions such as drive systems, ring
generators, plant control, network integration, wind farm management, logistics for towers, and
foundation construction.

Enercon
GmbH
Wind Turbines
Service
Management

2014-2018
18.1.3 Key Information
Company Details Description
Service Portfolio Maintenance and Repair
System Support Remote Data Monitoring
Technical Support to Turbines
Operator Training
Technical and Commercial issues
Recent Product Launches December 2012: Built a prototype of the E-92 series, a
wind class IIA system


2014-2018
18.1.4 SWOT Analysis

Strengths
Enercon GmbH is a market leader in
Germany and it has captured more
than 45 percent of the local market.
With its strong technological
capabilities, the company has
introduced advanced wind power
solutions in the market.
Weakness
While most of the company's
competitors have been investing
heavily in the Chinese market, it has
been focusing on European countries.
Experts believe that this may not be a
strategic move as most of the European
wind power plants have been incurring
losses since the economic downturn in
2009.
Opportunity
The company has been expanding its
business and building facilities in the US,
Singapore, and Bangladesh.
Threats
Changes in tariff plans pose a threat to
the company.
The company faces a threat from
various competitors such as Repower,
Nordex SE, Gamesa, and Siemens,
which are also global players growing
at a fast pace within the Wind Turbine
Service market in Europe.

2014-2018
18.2 Gamesa Corporacin Tecnolgica S.A.
Gamesa Corporacin Tecnolgica S.A. was founded in 1976 with its headquarters in Vizcaya,
Spain. The company has 19 years of experience and during this time has installed wind
farms/turbines of more than 27,000 MW capacity in 42 countries. It also includes the operational
and maintenance service of facilities with capacities of more than 19,000 MW. The company
has global production centers in Spain and China, while maintaining its local production
capacity in India, the US, and Brazil. The company is also a world leader in the development,
construction, and sale of wind farms, having installed wind turbines/farms with a total capacity
of close to 6,000 MW and having a portfolio of 18,000 MW in Europe, America, and Asia.
In 2012 the company reported annual sales of US$3.9 billion.
The business segmentation of Gamesa Corporacin Tecnolgica S.A. is described below in the
exhibit:
Exhibit 19: Business Segmentation of Gamesa Corporacin Tecnolgica S.A.


Gamesa
Corporacin
Tecnolgica S.A.
Wind Turbines Wind Farms
Wind Services
Management
Gamesa Electric

2014-2018
18.2.3 Sales by Region
The sales by region for Gamesa Corporacin Tecnolgica S.A. is described below in the exhibit:
Exhibit 20: Sales by Region of Gamesa Corporacin Tecnolgica S.A.

Service Portfolio Ageeing Fleet Solutions
O&M Product and Services
Key Highlights July 2013: The first offshore wind turbine installed in Spain
commissioned by Gamesa
July 2013: Wins a 10-year contract to service 234 MW for
Veronagest in Italy
June 2013: Sells a 15 MW wind farm in Scotland to
infrastructure investor John Laing
May 2013: Completes the assembly of the first offshore
turbine installed in Spain


2014-2018

Strengths
Gamesa Corporacin Tecnolgica S.A.
is the global technological leader in the
Wind industry.
The company provides services for a
capacity of more than 19,000 MW in
and around Europe.
The company is also a world leader in
the development, construction and sale
of wind farms, having installed
turbines/farms of capacities close to
6,000 MW and having a portfolio of
18,000 MW in Europe, America, and
Asia.
The company has a strong hold on wind
installation within Spain and other
countries.
Weakness
The company's overall sales declined in
2012 by 6.2 percent when compared to
its 2011 sales.

Opportunities
The company is focused on reducing
debt through a new model to manage
the wind farm development and sales
business.
The company is targeting its O&M
services for business growth in the future.
Threat
The change in local or international
government and tariff policy can affect
the sales of the company and also
reduce the revenue.

2014-2018
18.3 Nordex SE
Nordex SE was founded in 1985 and is headquartered in Hamburg, Germany. Nordex SE is the
developer and manufacturer of wind turbines and is one of the leading mid-size producers of
wind power systems. The company is an integrated supplier of modern wind power systems for
use in different locations. The company has production facilities around the globe specifically
Germany, the US, and China where turbines are being assembled. The company also has a rotor
production facility in Germany.
In 2012 the company employed 2,536 employees and reported annual revenue of US$1.51
billion which was 19 percent higher than that of 2011.
The business segmentation of Nordex SE is described below in the exhibit:
Exhibit 21: Business Segmentation of Nordex SE


18.3.3 Key Business Strategies
The key business strategies of Nordex SE are described below in the exhibit:
Nordex SE
Wind Turbines
Project
Services
Wind Services
Management

2014-2018
Exhibit 22: Key Business Strategies of Nordex SE


Service Portfolio Inspection and Maintenance
Inspection of Safety Equipment
Repair Services
Spare Part Deliveries
Modernization
Technical Enhancement
Condition Monitoring Systems
Customer Training
Remote Monitoring and Remote Management
Recent Product Launches 2013: The company launched Delta Generation
N117/300 and N100/3300 turbines
Key Highlights June 2013: The Company built Ireland's largest installed
wind farm

Nordex SE
Sales Strategy
Operational
Excellence
Reduced
Cost of
Materials
Product
Development

2014-2018

Strengths
Nordex SE is one of the world's leading
mid-size producers of wind power
systems.
The company has a very strong
international orientation as more than
80 percent of its sales are generated
through exports.
The company is one of the leading
service providers for wind
farms/turbines.
Weakness
The company installed wind energy
facilities of a total of 919 MW capacity
in 2012, which was 5.26 percent less
than the work it carried out in 2011.
Opportunities
The company can focus more on its
domestic market to increase its market
share and strengthen its business
operations.
The company is now focusing on
developing onshore wind power systems
to produce clean electricity at a
competitive price in the market.

Threat
Its competitors in Europe such as
Repower, Siemens AG, Gamesa, and
Enercon pose a threat to the company.


2014-2018
18.4 REpower Systems SE
REpower Systems SE has been a wholly-owned subsidiary of the Suzlon Group since 2009. The
company employed around 2,700 people in 2011. It has operations spread across various
countries such as Australia, Belgium, Canada, China, Denmark, France, Germany, Italy, Portugal,
Poland, Spain, Sweden, the UK, and the US.
REpower contributes to the competitive production of electricity from wind energy. The
companys business activities include developing, licensing, producing, marketing, and servicing
wind turbines. The capacity of the wind turbines manufactured by REpower range from 1.8 to
6.15 MW, and the diameter of the wind turbines manufactured by REpower range from 82 to126
meters. Apart from these specifications, the company also provides customized wind turbines for
its customers, for areas such as wind farm engineering, service providing, maintenance facilities,
and transportation and installation of wind turbines and wind turbine foundations. REpower has
manufactured and installed approximately 3,600 wind turbines across the world. REpower offers
onshore as well as offshore wind turbines.
The company offers two types of offshore wind turbines: 5 MW turbines that fit an offshore wind
farm, which is specially designed to withstand the force and current of the high seas; and a 6
MW turbine that has a long service life at low operating costs.
Service Portfolio Maintenance Service for Wind Power Plants
Spare Parts Storage
Training
Maintenance for Onshore Wind Power Plants
Online Troubleshooting
Key Highlights October 2013: Announced the completion of the
installation of its 5,000th turbine
April 2013: The company crossed the installation of 1 GW
of wind farms in the UK
September 2012: Delivered the tallest turbine type to
Austria


2014-2018

Strengths
REpower Systems SE is a subsidiary of the
Suzlon Group which is one of the
leading international manufacturers of
onshore and offshore wind turbines. This
gives the company brand recognition
across the market.
The company focuses on providing
good quality assured products. For
instance, the company guarantees a
technical performance of 95-97
percent.

Weakness
The company is mostly prominent in the
European market and lacks global
operational experience.

Opportunity
It has already developed wind farms in
the EMEA region, thus establishing a
strong market in the region. This is
advantageous for the company, as the
EMEA region has always been the
strongest and the leading region in the
production of wind energy.

Threats
Expanding business to untapped
countries such as the US, China, and
Japan will expose the company to
currency fluctuation risks.
The company may face intense
competition in the European Wind
Service market from other globally
established players.

2014-2018
18.5 Siemens AG
Siemens AG concentrates its operations in the Energy and Healthcare industries. In these
industries, the company focuses on electrical engineering and electronics. It was founded in
1872 and has 160 years of experience. In the Energy segment, there are various sub-segments
such as Renewable Energy, Fossil Fuel Power Generation, Oil and Gas, Power Transmission, and
Power Distribution. The company is listed on the Frankfurt Stock Exchange. It was listed for the first
time on the New York Stock Exchange on March 12, 2001. The company generated total
revenue of US$107 billion in FY2012.
The various business segmentation of Siemens AG is described below in the exhibit:
Exhibit 23: Business Segmentation of Siemens AG

Siemens AG
Industry
Sector
Industry
Automation,
Drive
Technologies,
Building
Technologies,
Industry Solutions,
Mobility
Energy
Sector
Fossil Power
Generation,
Renewable
Energy, Oil &
Gas, Power
Transmission and
Distribution
Healthcare
Sector
Diagnostics
Equity
Investments
Financial
Services

2014-2018
Service Portfolio Service Programs
Diagnostics
Modernization and Upgrades
Offshore Service Management
Operator Training
Key Highlights September 2012: Showcased its direct drive wind
generators at the Husum Wind Energy 2012 Trade Fair in
Germany
Key Acquisitions February 2011: Acquired Telsa Power and Automation
Inc.


2014-2018

Strengths
Siemens AG has strong R&D capabilities.
In 2011, it had around 27,800 employees
in its R&D division across 160 centers and
it invested US$5.08 billion in R&D.
The company has ventured into a
number of environmental initiatives.
It supplies turbines to more than 40
percent of the wind farms around the
globe.
Weaknesses
The companys offshore wind turbine
bearings have been found to be
corroding. The turbines in four offshore
wind farms experienced product failure
when the hub bearings protection
developed a snag.
It is engaged in cost-cutting initiatives
and strategic reorientation, especially in
the IT and Solutions business segments.
This may affect its operational
profitability.
Opportunities
The key account program of the
company was recognized as the Key
Account Management Program of the
Year by the Strategic Account
Management Association in the US.
It acquired Telsa Power and Automation
in February 2011, helping it expand its
product portfolio and its global
footprint.
It is planning to add many smart
products to its portfolio to create a
strong sales channel.
Threat
It faces a threat from general economic
uncertainties such as the level of
unemployment in some European
countries and the budget consolidation
measures of North America. This could
affect its business going forward.

2014-2018
19. Other Reports in this Series
Global Thick Film Devices Market 2012-2016
Global Smart Grid Managed Services Market 2012-2016
Global Building Integrated Photovoltaics Market 2012-2016
Global Power Rental Market 2012-2016
Global Grid-scale Energy Storage Market 2012-2016
Global Meter Data Management Market 2012-2016
Global Geothermal Power Generation Market 2012-2016
Global Solid Oxide Fuel Cell Market 2012-2016
Global Polysilicon Market 2012-2016
Global Distributed Energy Generation Technologies Market 2012-2016
Global Lighting Control Market 2012-2016
Global Supercapacitors Market 2012-2016
Global Green Building Material Market 2012-2016
Global Smart Grid Technology Market 2012-2016
Global Large and Advanced Battery Technology Market 2012-2016
Global Lithium-ion Battery Market 2012-2016
Global Smart Grid Cyber Security Market 2012-2016
Global Direct Methanol Fuel Cell (DMFC) Market 2014-2018
Global Distribution Management Systems Market 2014-2018
Global Inverter Systems Market for Renewable Energy 2014-2018
Global Transformerless UPS market 2014-2018

2014-2018

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