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The North America renewable electrical maintenance market size reached nearly USD 559.13 million in 2023. The market is projected to grow at a CAGR of 19.3% between 2024 and 2032 to reach around USD 2670.72 million by 2032.
The increasing focus on sustainability has generated a higher need for renewable energy solutions like solar, wind, hydro, and geothermal power. The primary drivers behind the swift adoption of these energy systems include their cost-effectiveness, ability to enhance energy security, and their minimal or negligible environmental impact.
Some of the factors driving the North America renewable electrical maintenance market growth are the growing adoption of renewable energy sources and favourable government initiatives, such as the Build Back Better Act in the United States, actively promoting the installation of wind turbines and solar panels. Additionally, states like Arizona are setting ambitious targets, aiming to source 15% of their energy exclusively from renewable sources by 2025.
Figure: Sources of Electricity Generation in the USA, 2022
Rising adoption of renewable energy sources; technological advancements and innovations; the growing awareness regarding regular maintenance of renewable energy sources; and implementation of holistic data strategy are aiding the market growth.
August 2023
General Electric Company’s GE Vernova's Hydro Power division was chosen by Manitoba Hydro to carry out the replacement of the Unit-4 Kaplan runner at the 479 MW Grand Rapids Generating Station on the Saskatchewan River in Manitoba, Canada.
August 2023
National Renewable Energy Laboratory (NREL) initiated the implementation of a Strata Grid Distributed Energy Resource Management System (DERMS) at its Energy Systems Integration Facility (ESIF) to develop a versatile toolkit for various applications.
August 2023
Avangrid developed AI and machine learning-based systems for grid management. These systems, namely Predictive Health Analytics, GeoMesh, and HealthAI, leveraged existing data from Avangrid's electricity grids to forecast grid performance, assess equipment conditions, and identify areas requiring inspection.
June 2023
RESA Power completed the acquisition of Taifa Engineering to augment RESA Power's presence and expertise in Canada's electrical engineering sector, particularly in western Canada.
Adoption of renewable energy sources
The USA’s goals under the Climate Act aimed at achieving 70% renewably sourced electricity by 2030 and a zero-emission electric grid by 2040 are driving the adoption of renewable energy sources, fuelling the North America renewable electrical maintenance market development.
Increasing integration of advanced technologies in maintenance services
There is an increasing adoption of technological advancements, such as artificial intelligence and machine learning, to propel the automation in maintenance services. As a result, this trend is yielding increased effectiveness, decreased time and resource utilisation, and financial economies.
Rising investments in renewable energy projects
The United States government aims to achieve 80% renewable energy generation by 2030. As of 2021, 79% of the USA’s total energy production was from fossil fuel sources. As a result, the country is expected to significantly invest in in renewable energy projects to achieve these targets.
Implementation of a holistic strategy for data analysis
The collection of data points for the entire fleet, instead of focusing solely on individual turbines, opens up the potential to apply insights on a much broader scale.
Regular maintenance of renewable energy systems
Service providers are responsible for plant monitoring, performance management, and preventative and corrective maintenance of the assets. These long-term projects ensure a steady stream of revenue for maintenance companies.
Canada is one of the largest per-capita consumers of energy, globally. To achieve the requirement of the United Nations Sustainable Development Goal 7 (SDG 7), Canada is transitioning to clean energy sources, including solar, wind, hydro, and geothermal. As part of SDG 7, Canada intends to achieve 90% of electricity from renewable and non-emitting resources by 2030. In July 2023, The Government of Canada, in partnership with Indigenous communities invested in nine solar power projects in Alberta. These projects in total are aimed at creating 163 MW of new solar generation and providing 48 MW of battery storage capacity.
Furthermore, innovations such as remote sensors and AI help substantially reduce maintenance expenses for operators, propelling the North America renewable electrical maintenance market expansion. For instance, a wind operator can detect a condition and opt to schedule a repair during a period of low wind. This early identification can minimise downtime and enable the wind operator to proactively plan.
North America Renewable Electrical Maintenance Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Component
Market Breakup by Service Type
Market Breakup by Deployment
Market Breakup by Country
Solar energy services are expected to dominate the North America renewable electrical maintenance market share due to their easy installation and cost-effectiveness
Solar energy maintenance services usually consist of microinverter replacement, wiring repairs, trunk cable replacement, and critter nest removal. With use, solar systems' energy yield decreases, owing to single cells breaking down, and inverters not operating at their maximum efficiency. Panels may also experience warming and overheating due to parasitic currents, which can lead to fires. The use of thermal imaging can help operators detect these faults and take necessary actions.
Wind turbine maintenance is crucial to ensure uninterrupted operation and performance. As a result, operators need to regularly maintain wind turbines to identify and correct problems to prevent equipment failures, as well as to ensure maximum equipment lifespan and reliability.
As hydropower is North America’s largest source of renewable energy, the North America renewable electrical maintenance market expansion is witnessing an upward trajectory. The USA and Canada are among the top hydropower producers, globally, supporting the demand for timely maintenance services. Hydro energy services include commissioning support, in-place machining, welding, consulting, inspections, and assessments of hydro turbines. Service providers offer a range of critical plant support services, including technical support, emergency services, maintenance and repair, and diagnosis.
Besides, the USA is a significant producer of geothermal electricity, globally. In 2022, the country was home to geothermal power plants in seven states, producing around 17 billion kWh of power equal to around about 0.4% of the total utility-scale electricity generation in the country.
Major players in the North America renewable electrical maintenance market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge
RESA Power, LLC
RESA Power, LLC, founded in 2003, is headquartered in the United States. The company provides customised solutions by NETA Certified Technicians, encompassing system commissioning and continuous maintenance.
Shermco
Shermco, headquartered in the United States, was founded in 1974. The company provides a wide range of electrical power services, encompassing testing, maintenance, and repair, excelling in designing maintenance programmes.
General Electric Company
General Electric Company, headquartered in the United States, was founded in 1892. It delivers a spectrum of services, from remote monitoring to comprehensive plant maintenance and performance optimisation.
ABB Ltd.
ABB Ltd. was founded in 1988 and headquartered in Switzerland. The company offers solar solutions, covering everything from PV panel DC output to medium and high voltage grids.
Other key players in the North America renewable electrical maintenance market include Emerson Electric Co., RENEW, Canadian Solar Inc, Suntrek Industries, Inc.
The United States of America accounts for a significant market share as it aims to achieve 70% renewably sourced electricity by 2030. Various government policies aid the growth of the renewable sector in the USA. The Inflation Reduction Act of 2022 includes tax provisions and grant and loan programmes to aid the deployment of commercially available clean energy technologies. As a result, solar energy adoption is rising across the USA, especially in California and Texas, as an appealing source of new power generation. This is positively influencing the North America renewable electrical maintenance market growth.
Hydroelectricity is a crucial form of renewable energy produced in Canada. The adoption of an emissions-free grid is expected to help Canada decarbonise its economy and achieve its net-zero emissions targets. Canada is home to over 19 GW of utility-scale wind and solar energy capacity, with more than 1.8 GW of new generation capacity added in 2022. Canadian wind, solar and energy storage sector grew by 10.5% in 2022.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Component |
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Breakup by Service Type |
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Breakup by Deployment |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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North America Renewable Electrical Maintenance Market Size
North America Renewable Electrical Maintenance Market Trends
North America Renewable Electrical Maintenance Manufacturers
North America Renewable Electrical Maintenance Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Renewable Electrical Maintenance Market Overview
8.1 Key Industry Highlights
8.2 North America Renewable Electrical Maintenance Historical Market (2018-2023)
8.3 North America Renewable Electrical Maintenance Market Forecast (2024-2032)
9 North America Renewable Electrical Maintenance Market by Type
9.1 Solar Energy Services
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Wind Energy Services
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Hydro Energy Services
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Geo-Thermal Energy Services
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 North America Renewable Electrical Maintenance Market by Component
10.1 Transformer
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Battery and UPS System
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 PV Module and Solar Cells
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Switchgear Assembly
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
11 North America Renewable Electrical Maintenance Market by Service Type
11.1 Preventive Field Services (Scheduled Maintenance)
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Preventive Engineering Services
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Emergency Services
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Thermographic Infrared Inspection of Photovoltaic Installation
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 NETA Services
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Lookout Tagout (LOTO) Services
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
11.7 Testing Services (Manual and Thermal Imaging)
11.7.1 Historical Trend (2018-2023)
11.7.2 Forecast Trend (2024-2032)
11.8 UPS Services
11.8.1 Historical Trend (2018-2023)
11.8.2 Forecast Trend (2024-2032)
11.9 Decommissioning
11.9.1 Historical Trend (2018-2023)
11.9.2 Forecast Trend (2024-2032)
11.10 Others
12 North America Renewable Electrical Maintenance Market by Deployment
12.1 Onsite
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Offsite
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 North America Renewable Electrical Maintenance Market by Country
13.1 United States of America
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.1.3 By Region
13.1.3.1 New England
13.1.3.2 Mideast
13.1.3.3 Great Lakes
13.1.3.4 Plains
13.1.3.5 Southeast
13.1.3.6 Southwest
13.1.3.7 Rocky Mountain
13.1.3.8 Far West
13.2 Canada
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.2.3 By Region
13.2.3.1 Northern Canada
13.2.3.2 British Columbia
13.2.3.3 Alberta
13.2.3.4 The Prairies
13.2.3.5 Central Canada
13.2.3.6 Atlantic Canada
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 RESA Power, LLC
15.2.1.1 Company Overview
15.2.1.2 Services Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Shermco
15.2.2.1 Company Overview
15.2.2.2 Services Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 General Electric Company
15.2.3.1 Company Overview
15.2.3.2 Services Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 ABB Ltd.
15.2.4.1 Company Overview
15.2.4.2 Services Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Emerson Electric Co.
15.2.5.1 Company Overview
15.2.5.2 Services Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Renew
15.2.6.1 Company Overview
15.2.6.2 Services Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Canadian Solar Inc
15.2.7.1 Company Overview
15.2.7.2 Services Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Suntrek Industries, Inc.
15.2.8.1 Company Overview
15.2.8.2 Services Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Renewable Electrical Maintenance Market: Key Industry Highlights, 2018 and 2032
2. North America Renewable Electrical Maintenance Historical Market: Breakup by Type (USD Million), 2018-2023
3. North America Renewable Electrical Maintenance Market Forecast: Breakup by Type (USD Million), 2024-2032
4. North America Renewable Electrical Maintenance Historical Market: Breakup by Service Type (USD Million), 2018-2023
5. North America Renewable Electrical Maintenance Market Forecast: Breakup by Service Type (USD Million), 2024-2032
6. North America Renewable Electrical Maintenance Historical Market: Breakup by Deployment (USD Million), 2018-2023
7. North America Renewable Electrical Maintenance Market Forecast: Breakup by Deployment (USD Million), 2024-2032
8. North America Renewable Electrical Maintenance Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Renewable Electrical Maintenance Market Forecast: Breakup by Country (USD Million), 2024-2032
10. North America Renewable Electrical Maintenance Market Structure
In 2023, the market value was approximately USD 559.13 million.
The market is projected to grow at a CAGR of 19.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2670.72 million by 2032.
The major drivers include rising adoption of renewable energy sources due to favourable government policies and rising investments in renewable energy projects.
The key trends include increasing integration of artificial intelligence (AI) in regular maintenance of renewable energy systems and technological advancements and innovations.
The different types of renewable electrical maintenance include geo-thermal energy services, hydro energy services, wind energy services, and solar energy services.
The major deployment modes of renewable electrical maintenance include onsite and offsite.
The major players in the market include RESA Power, LLC, Shermco, General Electric Company, ABB Ltd., Emerson Electric Co., RENEW, Canadian Solar Inc, and Suntrek Industries, Inc.
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