Industry Background:
Wind farms placed over shallow open water, mainly in the ocean, with higher wind speeds are referred to as offshore wind. Inshore water environments such as lakes and fjords are frequently referred to as offshore wind. In shallow water, most offshore wind farms use fixed-foundation wind turbines. Wind farms will be able to be developed over deeper waters as technology progresses. A wind turbine installation vessel (WTIV) is a vessel constructed exclusively to install offshore wind turbines. This is normally done on the continental shelf. A wind turbine installation vessel is a ship that is specifically intended to install offshore wind turbines. These vessels are also suited for installing other offshore facilities such as tidal current turbines, wave energy generators, met masts, and oil and gas infrastructure, in addition to transportation, installation, and accommodation of offshore wind turbines.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Jack-Up Barge (Netherlands), MPI-Offshore (United Kingdom), Seafox Contractors BV (Netherland), A2SEA (Denmark), Fred. Olsen Windcarrier (Norway), Gaoh Offshore (United States), Geosea (Island), Seajacks (United Kingdom), Cadeler (Denmark), Van Oord (Netherlands) and Longyuan Power (China) |
According to AMA, the market for Offshore Wind Installation Vessel is expected to register a CAGR of 18.5% during the forecast period to 2030. This growth is primarily driven by Increase In Preference For Alternative And Renewable Sources Of Energy and Rise In Concerns Of Pollution And Global Warming.
Globally, a noticeable market trend is evident Development Of Safe, Efficient, Reliable, And Repeatable Processes To Reduce Costs And Minimize Risks
Major Manufacturers, such as Jack-Up Barge (Netherlands), MPI-Offshore (United Kingdom), Seafox Contractors BV (Netherland), A2SEA (Denmark), Fred. Olsen Windcarrier (Norway), Gaoh Offshore (United States), Geosea (Island), Seajacks (United Kingdom), Cadeler (Denmark), Van Oord (Netherlands) and Longyuan Power (China), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. More than half of the market for offshore wind turbine installation vessels is dominated by the top five operators. In terms of market share, the major players are currently dominating. However, some companies are increasing their market presence by securing new contracts and tapping new markets. The manufacturers are trying to achieve a competitive advantage by lowering manufacturing costs and adopting cost-effective techniques.
Key Developments in the Market:
October 2021 – Van Oord has ordered a new offshore installation vessel to further strengthen its market position in offshore wind. The jack-up vessel can operate on methanol and install up to 20 MW wind turbines at sea with a very low CO2 footprint. The investment is in line with the increasing global demand for offshore wind farms.
On January 19, 2023, Jan De Nul Group launched the "Green Giant," the world's largest self-propelled jack-up vessel designed for offshore wind turbine installation.
Influencing Trend:
Development Of Safe, Efficient, Reliable, And Repeatable Processes To Reduce Costs And Minimize Risks and Technological Advancement In The Offshore Floating System
Market Growth Drivers:
Increase In Preference For Alternative And Renewable Sources Of Energy and Rise In Concerns Of Pollution And Global Warming
Challenges:
Difficult Environmental And Working Conditions
Restraints:
High Installation Cost Of Vessels
Opportunities:
Growing Investments In High Capacity Based Offshore Wind Farms. and Europe Is The Most dominating region for offshore wind installation vessel
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Offshore Wind Installation Vessel Market
- Analysis about New Entrants in Offshore Wind Installation Vessel Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Offshore Wind Installation Vessel Study Sheds Light on
The Offshore Wind Installation Vessel Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Offshore Wind Installation Vessel industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Offshore Wind Installation Vessel industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.