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Opportunities Opening Up for Service Providers in the Large-scale Wind Turbines Market Finds Frost & Sullivan - Wind turbine services have been experiencing considerable gains with the mushrooming of wind farms and the impending expiration of service contracts
Opportunities Opening Up for Service Providers in the Large-scale Wind Turbines Market Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Singapore, Singapore, 2010/08/23 - Wind turbine services have been experiencing considerable gains with the mushrooming of wind farms and the impending expiration of service contracts.

   
 
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As half of the installed base of the above 1.0 MW wind turbines in the Australia and New Zealand (ANZ) region is less than five years old, they are likely to be under warranty/original equipment manufacturer (OEM) long-term service agreements (LTSAs).

Therefore, the new installations, while enhancing the prospects of OEMs, lower the business opportunities for third-party (non-OEM) service providers.

New analysis from Frost & Sullivan (energy.frost.com), Wind Turbine Services Market in Australia and New Zealand (ANZ), finds that the market earned revenues of $64.5 million in 2009 and estimates this to reach $152.9 million in 2016.

The third-party providers can take heart from the imminent expiry of OEM service contracts over the next three to four years.

"Favorable topography, strong government support for wind power installations, and fixed energy targets drives the market for large-scale wind power projects in the region," says Frost & Sullivan Program Manager Suchitra Sriram. "As several large wind farms with units above 1.0 MW capacity are at different stages of approval, it is likely to drive demand for wind turbine services."

With increasing installation of new wind farms and anticipated intensification of competition after the expiration of service contracts, third-party service providers could try to gain an edge by focusing on price, responsiveness, reliability of services, and on-time availability.

The growing preference for large-scale wind farms and the need for energy security during the global economic downturn of 2008-2009 made a strong case for 1 MW wind turbines. The governments also introduced several economic stimulus packages that attracted investments to renewable energy, which in turn, greatly helped sustain the economic growth in the region.

"Further, volatile oil and gas prices pushed the need to reduce dependency on imported fuels for power generation," notes Sriram. "These factors compelled the ANZ region to harness the untapped indigenous sources of renewables such as wind power, cranking up the market potential for wind turbine services."

If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.

Wind Turbine Services Market in Australia and New Zealand (ANZ) is part of the Energy & Power Growth Partnership Services program, which also includes research in the following markets: Global Wind Power Markets, The European Offshore Wind Energy Market, Global Wind Turbine Components Markets, and Investment Opportunities in the Wind Energy Sector in Europe. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.

Wind Turbine Services Market in Australia and New Zealand (ANZ) / P37C

 
 
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Opportunities Opening Up for Service Providers in the Large-scale Wind Turbines Market Finds Frost & Sullivan

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