Year-On-Year O&M Jack-Up Interventions

2024 Review Series: O&M Jack-Up Intervention Market Continues to Grow. The O&M jack-up intervention market hit a new milestone in 2024, with a record-breaking 494 interventions, marking a 36% increase compared to 2023. This number also surpasses the previous record of 418 interventions from 2020, which was largely driven by large-scale blade repair campaigns — a trend not observed in 2024.

Key Drivers of the 2024 Growth

◆ The growth is primarily driven by the 2-4 MW segment, where a significant number of aging turbines (10+ years of operation) are experiencing higher failure rates
◆ The +6 MW segment remained at the high level seen in 2023

It is noteworthy that, when disregarding blade repair campaigns, 2024 recorded the highest industry failure rate (6.9%) in the 13 years we’ve tracked. This underscores the importance of understanding and staying up to date on failure trends and planning for O&M strategies.

2024 was a quite significant year for the O&M jack-up market. The 2024 edition of our O&M Jack-Up Intervention Report be available at the end of January will dive into the new developments in the market. Learn more here.