The global offshore wind operation and maintenance (O&M) market is expected to grow by 17 per cent annually to 11 billion Euro by 2028, according to consultancy firm Wood Mackenzie.
“Europe is the largest contributor with €6.7 billion in value, while the Asia Pacific region is keeping up the pace in O&M market size and spend,” WoodMac said in a statement.
Operational offshore wind farms in Europe are relatively young – 80 per cent of the installed base will remain within the first half of their design lives by 2028. According to the report, subsidy-free projects were commonly seen in established markets but more than 27 gigawatt (GW) of capacity was expected to come out of subsidy in the 2030s.
It added that maintenance optimisation was playing a key role in maximising revenue, especially for projects exposed to merchant risks Read More