GLOBAL WIND TURBINE OPERATIONS & MAINTENANCE MARKET, UPDATE 2015 MARKET SIZE, MAJOR CONTENDERS, TRENDS, AND ANALYSIS TO 2020

Transcription

1 REFERENCE CODE GDAE1098M AR PUBLICATION DATE M ARCH 2015 GLOBAL WIND TURBINE OPERATIONS & MAINTENANCE MARKET, UPDATE 2015 MARKET SIZE, MAJOR CONTENDERS, TRENDS, AND ANALYSIS TO 2020

2 Executive Summary Global Wind Turbine Operations and Maintenance Market Estimated at $XX Billion in 2014 In 2014, global wind power capacity increased by XX Gigawatts (GW) to XX GW. Offshore wind power capacity also grew, with an addition of XX GW. In the period, wind power capacity increased by more than XX GW, and Operations and Maintenance (O&M) expenditure increased at a Compound Annual Growth Rate (CAGR) of XX%, from $XX billion to $XX billion. The main reasons for rising O&M costs in the wind industry were the increasing age of wind turbines and the failure of components such as blades and gearboxes. The growth of the O&M market is restrained by the lack of a skilled workforce and the cost of logistics. However, the growth of the wind power O&M market is leading to an increase in companies providing specialized O&M services for the wind turbine market, which is decreasing the cost of O&M services. Based on the above factors, the wind power O&M market is expected to reach $XX billion by Wind Turbine Operations and Maintenance Market, Global, Market Size ($bn), O&M market size ($bn) Source: GlobalData Onshore Offshore Offshore Wind Power Expected to Account for XX% of Operations and Maintenance Market by 2020 Offshore wind accounted for about XX% of the total wind O&M market in 2014, with a market size of $XX billion. Offshore wind attracts higher O&M costs than onshore wind due to higher turbine maintenance, high logistics costs and the lack of a skilled workforce. Although onshore wind also faces logistics and workforce issues, the impact of these factors on the offshore segment is greater. It is estimated that the offshore wind O&M market will continue to grow and reach $XX billion, or XX% of the total wind power O&M market, in The UK, Germany and China will be largest contributors to the offshore wind power O&M market, contributing $XX billion, $XX billion and $XX billion, respectively

3 Table of Contents 1 Table of Contents 1 Table of Contents List of Tables List of Figures Introduction Wind Power, Technology Definition Wind Power, Value Chain Wind Power Operations and Maintenance, Cost Overview Wind Turbine Operations and Maintenance, Importance GlobalData Report Guidance Wind Power Market, Global Wind Power Market, Global, Overview Wind Power Market, Global, Installed Capacity, Wind Power Market, Global, Installed Capacity, Share by Country, Wind Power Market, Global, Onshore Installed Capacity, Share by Country, Wind Power Market, Global, Offshore Installed Capacity, Share by Country, Wind Power Market, Global, Electricity Generation, Wind Power Market, Global, Average Turbine Size, Wind Power Market, Global, Turbine Market Share, Wind Power Market, Global, Onshore Turbine Market Share, Wind Power Market, Global, Offshore Turbine Market Share, Wind Power Market, Global, Major Market Trends and Forecasts

4 Table of Contents Global Wind Power Market Consolidation Activity to Increase Growing Preference for Large Installations Offshore Wind Market Development to Gain Momentum during Forecast Period Offshore Wind Power Market, Global, Key Drivers Offshore Wind Power Market, Global, Key Barriers to Growth Wind Turbine Operations and Maintenance Market, Global Wind Turbine Operations and Maintenance Market, Global, Overview Wind Turbine Operations and Maintenance Market, Global, Market Size, Wind Turbine Operations and Maintenance Market, Global, Share by Market Segment, 2014 and Wind Turbine Operations and Maintenance Market, Global, Share of Major Countries, 2014 and Wind Turbine Operations and Maintenance Market, Analysis of Major Components Wind Turbine Operations and Maintenance Market, Inspection Aspects in Major Components Wind Turbine Operations and Maintenance Market, Causes for Failure of Major Components Wind Turbine Operations and Maintenance Market, Global, Number of Repairs, Wind Turbine Operations and Maintenance Market, Global, Market Forces Analysis Wind Turbine Operations and Maintenance Market, Global, Key Drivers Wind Turbine Operations and Maintenance Market, Global, Major Restraints and Challenges Wind Turbine Operations and Maintenance Market, Global, Market Trends

5 Table of Contents Independent Service Providers are Gaining Market Share in Wind O&M Market Innovation in Components to Reduce Wind O&M Cost Long-Term O&M Contracts Gaining Momentum Predictive Maintenance through Condition Monitoring System Improves Turbine Availability Independent Service Providers Entering New Markets and Regions Wind Turbine Operations and Maintenance Market, US Wind Power Market, US, Overview Wind Power Market, US, Installed Capacity, Wind Power Market, US, Power Generation, Wind Power Market, US, Average Turbine Size, Wind Turbine Operations and Maintenance Market, US, Market Size, Wind Turbine Operations and Maintenance Market, US, Number of Repairs, Wind Turbine Operations and Maintenance Market, US, Company Profiles of Major Operations and Maintenance Service Providers Wind Turbine Operations and Maintenance Market, Germany Wind Power Market, Germany, Overview Wind Power Market, Germany, Installed Capacity, Wind Power Market, Germany, Generation, Wind Power Market, Germany, Average Turbine Size, Wind Turbine Operations and Maintenance Market, Germany, Market Size, Wind Turbine Operations and Maintenance Market, Germany, Number of Repairs,

6 Table of Contents 6.7 Wind Turbine Operations and Maintenance Market, Germany, Company Profiles of Major Operations and Maintenance Service Providers Wind Turbine Operations and Maintenance Market, Spain Wind Power Market, Spain, Overview Wind Power Market, Spain, Installed Capacity, Wind Power Market, Spain, Generation, Wind Power Market, Spain, Average Turbine Size, Wind Turbine Operations and Maintenance Market, Spain, Market Size, Wind Turbine Operations and Maintenance Market, Spain, Number of Repairs, Wind Turbine Operations and Maintenance Market, Spain, Company Profiles of Major Operations and Maintenance Service Providers Wind Turbine Operations and Maintenance Market, UK Wind Power Market, UK, Overview Wind Power Market, UK, Installed Capacity, Wind Power Market, UK, Generation, Wind Power Market, UK, Average Turbine Size, Wind Turbine Operations and Maintenance Market, UK, Market Size, Wind Turbine Operations and Maintenance Market, UK, Number of Repairs, Wind Turbine Operations and Maintenance Market, UK, Company Profiles of Major Operations and Maintenance Service Providers Wind Turbine Operations and Maintenance Market, China Wind Power Market, China, Overview

7 Table of Contents 9.2 Wind Power Market, China, Installed Capacity, Wind Power Market, China, Generation, Wind Power Market, China, Average Turbine Size, Wind Turbine Operations and Maintenance Market, China, Market Size, Wind Turbine Operations and Maintenance Market, China, Number of Repairs, Wind Turbine Operations and Maintenance Market, China, Company Profiles of Major Operations and Maintenance Service Providers Wind Turbine Operations and Maintenance Market, India Wind Power Market, India, Overview Wind Power Market, India, Installed Capacity, Wind Power Market, India, Generation, Wind Power Market, India, Average Turbine Size, Wind Turbine Operations and Maintenance Market, India, Market Size, Wind Turbine Operations and Maintenance Market, India, Number of Repairs, Wind Turbine Operations and Maintenance Market, India, Company Profiles of Major Operations and Maintenance Service Providers Appendix Abbreviations Bibliography Market Definitions Methodology Assumptions

8 Table of Contents Coverage Secondary Research Primary Research Disclaimer List of Tables Table 1: Wind Power Market, Global, Installed Capacity (GW), Table 2: Wind Power Market, Global, Onshore Cumulative Installed Capacity, Share by Country (%), Table 3: Wind Power Market, Global, Offshore Cumulative Installed Capacity, Share by Country (%), Table 4: Wind Power Market, Global, Generation (TWh), Table 5: Wind Power Market, Global, Average Turbine Size (MW), Table 6: Wind Power Market, Global, Onshore Turbine Market Share (%), Table 7: Wind Power Market, Global, Offshore Turbine Market Share (%), Table 8: Wind Power Market, Global, Share of Offshore Wind in Cumulative Capacity (%), Table 9: Wind Turbine Operations and Maintenance Market, Global, Market Size ($bn), Table 10: Wind Turbine Operations and Maintenance Market, Global, Share by Market Segment (%), 2014 and Table 11: Wind Turbine Operations and Maintenance Market, Global, Share by Major Country (%), 2014 and Table 12: Wind Turbine Operations and Maintenance Market, Inspection Aspects in Major Components Table 13: Wind Turbine Operations and Maintenance Market, Cause of Failure Table 14: Wind Turbine Operations and Maintenance Market, Global, Number of Repairs, Table 15: Wind Turbine Operations and Maintenance Market, Global, Component Annual Failure Rate

9 Table of Contents Table 16: Wind Repairs Market, Global, Major Independent Service Providers Table 17: Wind Power Market, US, Installed Capacity (GW), Table 18: Wind Power Market, US, Electricity Generation (TWh), Table 19: Wind Power Market, US, Average Turbine Size (MW), Table 20: Wind Turbine Operations and Maintenance Market, US, Market Size ($bn), Table 21: Wind Turbine Operations and Maintenance Market, US, Number of Repairs, Table 22: Wind Turbine Operations and Maintenance Market, US, Company Profiles of Major Operations and Maintenance Service Providers Table 23: Wind Power Market, Germany, Installed Capacity (GW), Table 24: Wind Power Market, Germany, Electricity Generation (TWh), Table 25: Wind Power Market, Germany, Average Turbine Size (MW), Table 26: Wind Turbine Operations and Maintenance Market, Germany, Market Size ($bn), Table 27: Table 28: Wind Repairs Market, Germany, Market Volume of Rotor Blades, Gearboxes and Generators (GW), Wind Turbine Operations and Maintenance Market, Germany, Company Profiles of Major Operations and Maintenance Service Providers Table 29: Wind Power Market, Spain, Installed Capacity (GW), Table 30: Wind Power Market, Spain, Electricity Generation (TWh), Table 31: Wind Power Market, Spain, Average Turbine Size (MW), Table 32: Wind Turbine Operations and Maintenance Market, Spain, Market Size ($m), Table 33: Table 34: Wind Repairs Market, Spain, Market Volume of Rotor Blades, Gearboxes and Generators (GW), Wind Turbine Operations and Maintenance Market, Spain, Company Profiles of Major Operations and Maintenance Service Providers Table 35: Wind Power Market, UK, Installed Capacity (GW), Table 36: Wind Power Market, UK, Electricity Generation (TWh),

10 Table of Contents Table 37: Wind Power Market, UK, Average Turbine Size (MW), Table 38: Wind Turbine Operations and Maintenance Market, UK, Market Size ($bn), Table 39: Table 40: Wind Repairs Market, UK, Market Volume of Rotor Blades, Gearboxes and Generators (MW), Wind Turbine Operations and Maintenance Market, UK, Company Profiles of Major Operations and Maintenance Service Providers Table 41: Wind Power Market, China, Installed Capacity (GW), Table 42: Wind Power Market, China, Electricity Generation (TWh), Table 43: Wind Power Market, China, Average Turbine Size (MW), Table 44: Wind Turbine Operations and Maintenance Market, China, Market Size ($bn), Table 45: Table 46: Wind Repairs Market, China, Market Volume of Rotor Blades, Gearboxes and Generators (GW), Wind Turbine Operations and Maintenance Market, China, Company Profiles of Major Operations and Maintenance Service Providers Table 47: Wind Power Market, India, Onshore Installed Capacity (GW), Table 48: Wind Power Market, India, Electricity Generation (TWh), Table 49: Wind Power Market, India, Average Turbine Size (MW), Table 50: Wind Turbine Operations and Maintenance Market, India, Market Size ($bn), Table 51: Table 52: Wind Repairs Market, India, Market Volume of Rotor Blades, Gearboxes and Generators (GW), Wind Turbine Operations and Maintenance Market, India, Company Profiles of Major Operations and Maintenance Service Providers Table 53: Abbreviations

11 Table of Contents 1.2 List of Figures Figure 1: Wind Power Market, Value Chain Figure 2: Wind Turbine Operations and Maintenance Market, Global, Wind Farm Operation and Maintenance Costs Figure 3: Wind Power, Project Life Figure 4: Wind Power Market, Global, Cumulative Installed Capacity (GW), Figure 5: Wind Power Market, Global, Annual Installed Capacity (GW), Figure 6: Wind Power Market, Global, Onshore Cumulative Installed Capacity, Share by Country (%), Figure 7: Wind Power Market, Global, Offshore Cumulative Installed Capacity, Share by Country (%), Figure 8: Wind Power Market, Global, Electricity Generation (TWh), Figure 9: Wind Power Market, Global, Average Turbine Size (MW), Figure 10: Wind Power Market, Global, Onshore Turbine Market Share (%), Figure 11: Wind Power Market, Global, Offshore Turbine Market Share (%), Figure 12: Wind Power Market, Global, Share of Offshore Wind in Cumulative Capacity (%), Figure 13: Wind Turbine Operations and Maintenance Market, Global, Market Size ($bn), Figure 14: Wind Turbine Operations and Maintenance Market, Global, Share by Market Segment (%), 2014 and Figure 15: Wind Turbine Operations and Maintenance Market, Global, Share by Major Country (%), 2014 and Figure 16: Wind Turbine Operations and Maintenance Market, Global, Number of Repairs, Figure 17: Wind Turbine Operations and Maintenance Market, Global, Component Annual Failure Rate Figure 18: Wind Power Market, US, Cumulative Installed Capacity (GW), Figure 19: Wind Power Market, US, Annual Installed Capacity (GW), Figure 20: Wind Power Market, US, Electricity Generation (TWh),

12 Table of Contents Figure 21: Wind Power Market, US, Average Turbine Size (MW), Figure 22: Wind Turbine Operations and Maintenance Market, US, Market Size ($bn), Figure 23: Wind Turbine Operations and Maintenance Market, US, Number of Repairs, Figure 24: Wind Power Market, Germany, Cumulative Installed Capacity (GW), Figure 25: Wind Power Market, Germany, Annual Installed Capacity (GW), Figure 26: Wind Power Market, Germany, Electricity Generation (TWh), Figure 27: Wind Power Market, Germany, Average Turbine Size (MW), Figure 28: Wind Turbine Operations and Maintenance Market, Germany, Market Size ($bn), Figure 29: Wind Turbine Operations and Maintenance Market, Germany, Number of Repairs, Figure 30: Wind Power Market, Spain, Cumulative Installed Capacity (GW), Figure 31: Wind Power Market, Spain, Annual Installed Capacity (GW), Figure 32: Wind Power Market, Spain, Electricity Generation (TWh), Figure 33: Wind Power Market, Spain, Average Turbine Size (MW), Figure 34: Wind Turbine Operations and Maintenance Market, Spain, Market Size ($bn), Figure 35: Wind Turbine Operations and Maintenance Market, Spain, Number of Repairs, Figure 36: Wind Power Market, UK, Cumulative Installed Capacity (GW), Figure 37: Wind Power Market, UK, Annual Installed Capacity (GW), Figure 38: Wind Power Market, UK, Electricity Generation (TWh), Figure 39: Wind Power Market, UK, Average Turbine Size (MW), Figure 40: Wind Turbine Operations and Maintenance Market, UK, Market Size ($bn), Figure 41: Wind Turbine Operations and Maintenance Market, UK, Number of Repairs, Figure 42: Wind Power Market, China, Cumulative Installed Capacity (GW), Figure 43: Wind Power Market, China, Annual Installed Capacity (GW), Figure 44: Wind Power Market, China, Electricity Generation (TWh),

13 Table of Contents Figure 45: Wind Power Market, China, Average Turbine Size (MW), Figure 46: Wind Turbine Operations and Maintenance Market, China, Market Size ($bn), Figure 47: Wind Turbine Operations and Maintenance Market, China, Number of Repairs, Figure 48: Wind Power Market, India, Cumulative Installed Capacity (GW), Figure 49: Wind Power Market, India, Annual Installed Capacity (GW), Figure 50: Wind Power Market, India, Electricity Generation (TWh), Figure 51: Wind Power Market, India, Average Turbine Size (MW), Figure 52: Wind Turbine Operations and Maintenance Market, India, Market Size ($bn), Figure 53: Wind Turbine Operations and Maintenance Market, India, Number of Repairs,

14 Introduction 2 Introduction 2.1 Wind Power, Technology Definition Wind energy is the conversion of wind flow into a useful form of energy, such as power production, through turbines, water pumping, and windmills. A wind turbine gathers kinetic energy and converts it into electricity for residential, commercial and industrial purposes. Wind power is a clean source of energy, as it does not emit carbon dioxide (CO 2 ). It is classified into onshore and offshore. Onshore wind is the market segment where wind turbines are erected on land, and offshore wind is the market segment where wind turbines are erected in the sea or ocean on a foundation. 2.2 Wind Power, Value Chain The key factors that govern wind power project economics are the purchase of raw materials and components; manufacturing and assembly; project development; financing; Engineering, Procurement and Construction (EPC); and Operations and Maintenance (O&M). These activities include various non-recurring expenses such as preparatory costs, the purchase of wind turbines, the construction of civil and electrical infrastructure, initial investment for site assessment, environmental studies and government approval. Other recurring expenses include the service, maintenance and operation of wind farms, insurance and warranty, local taxes and daily management. The following figure shows the components of the wind power value chain. 16

15 Introduction 2.4 GlobalData Report Guidance The report begins with an executive summary, which provides a snapshot of the key indicators in the global wind O&M market. The Introduction section gives an overview of wind power technology, the value chain and wind O&M. The Wind Power Market, Global section details global wind power developments (onshore and offshore) from 2006 to 2014 and the expected market trends from 2015 to The chapter includes a global wind overview and covers installed capacity, installed capacity share by major country, and turbine market share. The section also highlights present and future market trends in the global wind power market. The Wind Turbine O&M Market, Global section provides a detailed analysis of the global wind O&M market from 2006 to 2014 and the expected market trends from 2015 to The chapter includes a global market overview and covers market size, share by market segment (onshore and offshore), and the key drivers, restraints and challenges in the global wind O&M market. The section also highlights major current and future market trends in the global wind O&M market. The next consecutive sections provide detailed analysis of the six major global wind O&M markets: the US, Germany, Spain, the UK, China and India. Each section provides an overview of the wind power market and covers installed capacity trends from 2006 to 2020, the average size of turbines, and O&M market size. They also calculate the market for repairing wind turbine components, during the period. 20

16 Wind Turbine Operations and Maintenance Market, Global 4.2 Wind Turbine Operations and Maintenance Market, Global, Market Size, The global wind O&M market grew at a CAGR of XX% between 2006 and 2014, from $XX billion to $XX billion. Aging wind turbines and increasing turbine installations owing to financial incentives, capital subsidies and tax rebates, as well as the failure of components, were the major drivers of the increase. On the other hand, growth was restrained by the lack of a skilled workforce and the cost of logistics. Against this backdrop, the global wind O&M market is estimated to reach $XX billion in 2020, registering a CAGR of XX%. The onshore wind O&M market grew from an estimated $XX billion in 2006 to $XX billion in Although there will be a drop in the share of the global onshore wind O&M market, it will rise to $XX billion in 2020 at a forecast CAGR of XX%. The offshore wind market will grow from an estimated $XX billion in 2014 to $XX billion in 2020, at a CAGR of XX%. Figure 13: Wind Turbine Operations and Maintenance Market, Global, Market Size ($bn), O&M market size ($bn) Onshore Offshore Source: GlobalData 40

17 Wind Turbine Operations and Maintenance Market, US 5.6 Wind Turbine Operations and Maintenance Market, US, Number of Repairs, Failure rates vary among wind turbine components, meaning that the number of repairs required fluctuates depending on capacity additions and on a specific component s failure rate. The following chart shows the estimated number of repairs needed by the major components, namely generators, gearboxes, and rotor blades, in the US during the period. Figure 23: Wind Turbine Operations and Maintenance Market, US, Number of Repairs, Number of repairs Source: GlobalData Generators Gearboxes Rotor blades 68

18 Wind Turbine Operations and Maintenance Market, US Table 21: Wind Turbine Operations and Maintenance Market, US, Number of Repairs, Year Generators Gearboxes Rotor blades Source: GlobalData 69

19 Appendix 11 Appendix 11.1 Abbreviations Table 53: Abbreviations CAGR Compound Annual Growth Rate CMS Condition Monitoring System CO 2 carbon dioxide DDT Direct Drive Train EEG German Renewable Energy Sources Act (Erneuerbare Energie Gesetz) EPC Engineering, Procurement and Construction FiT Feed-in Tariff FTC Federal Tax Credits GBI Generation-Based Incentive GES Global Energy Services GW Gigawatt ISP Independent Service Provider kwh kilowatt hour M&A Mergers and Acquisitions MIIT Ministry of Industry and Information Technology MW Megawatt MWh Megawatt hours O&M Operations and Maintenance OEM Original Equipment Manufacturer PTC Production Tax Credits R&D Research and Development ROC Renewable Obligation Certificates RPS Renewable Portfolio Standards SCADA Supervisory Control and Data Acquisition Source: GlobalData 145

20 Appendix 11.2 Bibliography AWEA (2011). Wind Turbine Operation and Maintenance. American Wind Energy Association. Available from: ISET (2009). Wind Energy Report Institut für Solare Energieversorgungstechnik. Available from: Market Definitions Historical period: Base year: 2014 Forecast period: Global: The countries included in the GlobalData capacity and generations database. These countries constitute more than 99% of global wind power capacity. Others: Includes countries other than the US, China, India, Germany, Spain and the UK Methodology GlobalData s dedicated research and analysis teams consist of experienced professionals with advanced statistical expertise and marketing, market research and consulting backgrounds in the energy industry. GlobalData adheres to the codes of practice of the Market Research Society ( and Strategic and Competitive Intelligence Professionals ( All of GlobalData s databases are continuously updated and revised. The following methodology has been followed for the collection and analysis of data presented in this report. 146

21 Appendix Assumptions The average turbine size (MW) trend is analyzed by studying a sample of around 21,000 wind farm assets covered in the Power Database. The total wind power project cost has been calculated based on the weighted average of onshore and offshore annual capacity and the assumption that the share of onshore turbine cost is 70% of the total project cost and the share of offshore turbine cost is 40% of the total project cost To Calculate Capacity Available for O&M Contracts The duration of short-term, medium-term and long-term contracts are two years, five years and 10 years respectively. 50% of the wind farms will opt for a medium-term O&M contract and 50% will opt for a longterm O&M contact after the initial warranty expires. Wind farms with O&M contracts that end when the turbines are aged years will have a medium-term contract of five years. Wind farms with O&M contracts that end after the turbines reach 15 years of age will have an O&M contract until the end of their life To Calculate the Capacity of Turbines Requiring Component Repairs The life span of a wind turbine is taken as 25 years. The annual frequency of failure for rotor blades is taken as 0.2, for gearboxes as 0.14 and for generators as The frequency of failure for wind turbine components is considered the same for onshore and offshore turbines. 147

22 Appendix Coverage The objective of updating GlobalData s coverage is to ensure that it represents the most up-to-date vision of the industry possible. Changes to the industry taxonomy are built on the basis of extensive research of company, association and competitor sources. Company coverage is based on three key factors: market capitalization; revenues; and media attention and innovation and market potential. The estimated revenues of all major companies, including private and governmental, are gathered and used to prioritize coverage. Companies which are making the news, or which are of particular interest due to their innovative approach, are prioritized. GlobalData aims to cover all major news events and deals in the alternative energy industry, updated on a daily basis Secondary Research The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information relating to each market. The secondary research sources that are typically referred to include, but are not limited to: Company websites, annual reports, financial reports, broker reports and investor presentations Industry trade journals and other literature Internal and external proprietary databases National government documents, statistical databases and market reports News articles, press releases and web-casts specific to the companies operating in the market 148

23 Appendix Primary Research GlobalData conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions: Provides first-hand information on the market size, market trends, growth trends, competitive landscape and future outlook Validates and strengthens secondary research findings Further develops the analysis team s expertise and market understanding Primary research involves interactions and telephone interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to: Industry participants: VPs, business development managers, market intelligence managers and national sales managers Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the alternative energy industry 11.5 Disclaimer All Rights Reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior permission of the publisher, GlobalData. 149