Frost + Sullivan Analysis Indicates Strong Growth Wind Turbine Services Market

Wind turbine services continue to experience significant growth with the springing up of wind farms as well as the imminent expiration of service agreements. Since 50% of the overall installed base of the over 1-MW capacity wind turbines in the region of Australia and New Zealand (ANZ) is below five years in duration, they are expected to be under original equipment manufacturer (OEM)/warranty long-term service contracts. Therefore, the novel installations reduce the business prospects for third-party service providers.

Recent analysis titled ‘Wind Turbine Services Market in Australia and New Zealand (ANZ)’ by Frost & Sullivan indicates that this market registered $64.5 million in revenues in 2009 and is expected to touch $152.9 million by the year 2016.

The increasing preference toward large-scale wind farms as well as the necessity for energy security especially during the 2008-2009 worldwide economic crisis made a strong point for 1-MW capacity wind turbines. Various governments introduced numerous economic stimulus packages, which attracted investments on renewable energy.

This ‘Wind Turbine Services Market in Australia and New Zealand (ANZ)’ analysis comes under the Energy & Power Growth Partnership Services program that comprises research in the markets: The European Offshore Wind Energy Market and Global Wind Power Markets.