Turbine Repair and Maintenance Industry Procurement Intelligence, Pricing & Cost Structure Intelligence to 2027

Procurement Outlook

Demand for power generation from renewable means of energy is ever increasing. One of the primary means of renewable energy generation is from wind and water turbines, apart from solar energy. Hence, the need for turbines to be operational during peak load periods is necessary. One of the methods to ensure efficient performance is through regular maintenance. Components that require maintenance periodically are turbines, compressors, exhaust chimney, gearbox, generator, and combustor.

 

Turbine repair services are a sub-category under MRO (maintenance, repair, and operations) market but it occupies a meager 12%-14% share in the overall MRO category.

Demand Outlook

The global turbine repair and maintenance market was estimated at USD 81.8 billion in 2020 and the market is projected to grow at a CAGR of 15.9%. While most of the markets suffered impacts (positive or negative) due to the outbreak of the COVID pandemic, the turbine repair services market was relatively unaffected due to the outbreak of the pandemic owing to the continuous operations of the existing turbines and the need for periodic maintenance. However, the first quarter of 2020 did see services stagnate in case of major breakdowns owing to transportation and supply chain breakdowns but by the second quarter of 2020, the market resumed normalcy with most of the countries classifying energy generation and associated work as essential tasks thereby removing restrictions related to the workforce.
 
 Cost Drivers

Adoption of clean energy methods and a consistent shift to renewable power generation methods globally will aid the consumer market of turbines to thrive in the future. This will help the market for repairs grow proportionally. The market is not only dependent on new installations, but also uses the existing installed base of turbines. With such a focus on turbines and MRO services, the turbine repair and maintenance market is expected to witness significant technological upgrades during the period of forecast. This will help drive the market. While it directly does not help improve margins, it would aid in the overall revenue generation.

Read report summary https://www.grandviewresearch.com/pipeline/turbine-repair-and-maintenance-industry-procurement-intelligence-report

Add-on Services

  • Should Cost Analysis

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

 

  • Rate Benchmarking

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

 

  • Salary Benchmarking

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

 

  • Supplier Newsletter

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

 

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A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of the supply chain which helps in efficient procurement decisions.

 

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  • Sourcing / Procurement Intelligence - best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best-suited countries for sourcing to minimize supply chain disruption


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