There is a paradigm shift towards renewable sources of energy worldwide. Several countries around the world are adding renewable energy capacity to their total energy mix. The wind is a clean, free, and readily available renewable energy source. Wind energy source plays an important role in the way we power our world, in a clean, sustainable manner.
Wind turbine inspection services are important because wind turbines require continuous monitoring and maintenance to ensure that they are operating at optimum efficiency. Wind turbine components have to be carefully monitored through a systematic maintenance program and regular inspection.
Market Dynamics:
Increasing deployment for the energy source or increasing installation of wind turbines worldwide is expected to fuel the growth of the wind turbine inspection services market. For instance, according to the Institute for Energy Economics and Financial Analysis, wind power installations in India rose to 2.07 GW in the financial year 2019-20, a 31% increase compared to 1.58 GW in the FY 2018-19.
Moreover, increasing demand for inspection services, increasing demand doe extending life of wind turbines, due to increasing number of installation of wind turbines worldwide, is expected to augment the growth of the wind turbine inspection services market. For instance, in January 2021, the U.S. unit of Deutsche Windtechnik secured new contracts to take its portfolio of US wind capacity under service to over 1GW. The company, which set up in the US in 2018, said it has seen a 700% growth in demand for its services in the past year.
However, lack of skilled labor (for conducting inspection) is a major challenge for growth of the wind turbine inspection services market.
Competitive Analysis:
Major players operating in the wind turbine inspection services market are MFG Energy Services, Midwest Underground Technology Inc., MISTRAS Group Inc., Advanced Cleaning Technology Ltd., ASC Engineering Service, UL International GmbH, Cenergy International Services LLC, INVISO Services Ltd., Technical Wind Services Ltd., UpWind Solutions Inc., and Intertek Group Plc.
Major players in the market are involved in different business strategies, such as partnerships, collaborations, business expansion, etc., to enhance their market share. For instance, in January 2021, RSK Group expanded its specialist access services with the acquisition of wind turbine rope-access company CAS Ltd. CAS will join fellow RSK subsidiary CAN Renewables, which provides installation, inspection, repair, and maintenance services for wind the and renewable energy sectors.
https://www.coherentmarketinsights.com/ongoing-insight/wind-turbine-inspection-services-market-653
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