Aug 30 2010
Frost & Sullivan, a research company with over 45 years of exposure in predicting emerging growth and investment opportunities for the clients in various markets, has brought out a report on service opportunities for third party non-OEM service providers in Australia and New Zealand region.
The report titled Wind Turbine Services Market in Australia and New Zealand (ANZ), estimates that the revenue of $64.5 million earned during the year 2009 from wind turbine services will go up to $152.9 million in 2016.
Wind Turbines
During the 2008 – 2009 economic melt down world over, large scale wind turbines with 1 MW or more production capability were preferred. The governments in various countries have also announced tax incentive packages for improving the investments in renewable energy sources, which in turn aided in sustaining the economic growth pertaining to the region and helped in the development of a number of wind turbine farms. The report estimates that the service contracts provided by the OEMs to the wind farms are expected to expire during the next four or five years thus offering a good amount of opportunities for third party service providers.
Suchitra Sriram, Program Manager of Frost & Sullivan, said favorable government support and easy to install topography has aided the wind turbine installations in the ANZ region. She added that most of the wind farms under various levels of construction and approval for installations will increase the demand for wind turbine servicing in future.