Press release
2025 Offshore Wind Turbine Installation Vessel Industry Trends Report: Long-Term Outlook Through 2034
Offshore Wind Turbine Installation Vessel
How Large Will the Offshore Wind Turbine Installation Vessel Market Size By 2025?
In recent times, there has been a swift expansion in the offshore wind turbine installation vessel market size. Forecasted to increase from a value of $2.04 billion in 2024 to $2.26 billion in 2025, this signifies a compound annual growth rate (CAGR) of 10.6%. Factors contributing to the growth during the historic period include a surge in deepwater wind projects, enhanced investment from utilities, a spike in demand led by Original Equipment Manufacturers (OEMs), governmental backing for renewable energy, and the evolution of logistical and port infrastructure.
How Big Is the Offshore Wind Turbine Installation Vessel Market Size Expected to Grow by 2029?
In the coming years, the market size for offshore wind turbine installation vessels is predicted to witness swift expansion. It is projected to reach a valuation of $3.5 billion by 2029, with a compound annual growth rate (CAGR) of 11.6%. Factors contributing to this growth during the predicted period include augmented support for eco-friendly energy, boosted private sector investment, expansion in offshore wind abilities, an upsurge in floating wind farms, and enhanced partnership between private corporations and government. Key trends expected during the projection period are floating WTIV architectures, implementation of hybrid and hydrogen propulsion systems, integration of digital twins, technologies to minimize vibration and noise, and integrated energy storage systems.
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Which Key Market Drivers Powering Offshore Wind Turbine Installation Vessel Market Expansion and Growth?
The growth of the offshore wind turbine installation vessel market is anticipated to be driven by surging investments in renewable infrastructure. This involves creating and utilizing physical systems and facilities to generate, distribute, store, and dispatch energy from renewable resources. Such a surge in investment in this infrastructure is attributed to the urgent requirement of reducing carbon emissions and ensuring sustained energy security. Offshore wind turbine installation vessels serve this infrastructure by facilitating the efficient assembly, transport, and installation of massive wind turbines at sea. This expedites the creation of offshore wind farms, thereby expanding the capacity for clean energy. To illustrate, in February 2024, a report from Sustainable Views, a UK-based specialist news and analysis provider, stated that the UK saw a remarkable 84% increase in clean energy investment in 2023 as compared to 2022. This marks a significant push in the country's efforts towards energy transition. Consequently, these escalating investments in renewable infrastructure are fuelling the market for offshore wind turbine installation vessels.
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Which Fast-Growing Trends Are Poised to Disrupt the Offshore Wind Turbine Installation Vessel Market?
Key players in the offshore wind turbine installation vessel industry are concentrating on technological advancements, like hybrid drivetrain technology, to considerably lessen carbon footprint per installed megawatt of offshore wind capacity. This tech not only improves fuel efficiency but also boosts operational performance in tough marine environments. Hybrid drivetrain technology merges internal combustion engines with electric propulsion systems to achieve superior fuel efficiency and minimize emissions, boosting performance especially in vessels and vehicles. For instance, Havfram, an offshore wind turbine installation services firm from Norway, unveiled Norse Wind in February 2025. This vessel is equipped to install turbines having a rotor diameter exceeding 300 meters as well as XXL monopiles as heavy as 3,000 tons in water as deep as 70 meters. Norse Wind not only utilizes hybrid drivetrain technology to cut down carbon emissions significantly per installed megawatt of offshore wind capacity, but it also boasts a heavy-lift crane for installing XXL monopiles and larger rotor diameter turbines. This facilitates efficient offshore wind turbine installation amidst difficult sea conditions.
What Are the Emerging Segments in the Offshore Wind Turbine Installation Vessel Market?
The offshore wind turbine installation vesselmarket covered in this report is segmented -
1) By Type: Self-Propelled Jack-Up Vessels, Normal Jack-Up Vessels, Heavy Lift Vessels, Other Types
2) By Capacity: Small, Medium, Large
3) By Method: Bottom-Fixed Installation, Floating Installation, Shared Installation
4) By Application: Offshore Wind Farm Installation, Maintenance And Repair, Other Applications
5) By End-User: Utility, Private, Government, Other End-users
Subsegments:
1) By Self-Propelled Jack-Up Vessels: Autonomous Self-Propelled Vessels, Conventional Self-Propelled Vessels
2) By Normal Jack-Up Vessels: Standard Jack-Up Vessels, Enhanced Stability Jack-Up Vessels
3) By Heavy Lift Vessels: Crane-Lift Heavy Lift Vessels, Lift-and-Carry Heavy Lift Vessels
4) By Other Types: Floating Crane Vessels, Semi-Submersible Vessels, Wind Turbine Installation Barges
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Who Are the Global Leaders in the Offshore Wind Turbine Installation Vessel Market?
Major companies operating in the offshore wind turbine installation vessel market are COSCO SHIPPING, Ørsted A/S, Siemens Gamesa Renewable Energy, S.A., Wärtsilä Corporation, Keppel Corporation Limited, Subsea 7 S.A., Aker Solutions ASA, Jan De Nul Group, Damen Shipyards Group N.V., Deme Group, Van Oord, Lamprell Energy Ltd, Sapura Energy Berhad, Seajacks International Ltd., Pella Sietas GmbH, MPI-Offshore, A-2-Sea Solutions Limited, Fred. Olsen Windcarrier AS, Ulstein Group ASA, Swire Blue Ocean A/S
Which are the Top Profitable Regional Markets for the Offshore Wind Turbine Installation Vessel Industry?
Europe was the dominating region in the offshore wind turbine installation vessel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the offshore wind turbine installation vessel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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