The global wind turbine operations and maintenance market is expected to reach $27.6 billion by 2027 from $17.9 billion in 2020 growing at a CAGR of 6.4 per cent over the period, according to Research and Markets. The onshore wind turbine O&M market, one of the segments analyzed in the report, is projected to record a CAGR of 4.7 per cent and reach $22.3 billion by the end of the analysis period. Meanwhile the growth in the offshore wind turbine O&M segment is readjusted to a revised CAGR of 17.6 per cent for the next 7 year period.
The wind turbine O&M market in the US is estimated at $5.3 billion in the year 2020. China is expected to reach a projected market size of $4.9 billion by the year 2027 with a CAGR of 6 per cent over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.7 per cent and 5.2 per cent respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.3 per cent CAGR.
