The Offshore Wind Turbine Installation Vessel Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Offshore Wind Turbine Installation Vessel Market?
The market size for the offshore wind turbine installation vessel grew swiftly in the past few years. It increased from $2.04 billion in 2024 to an expected $2.29 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.3%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Offshore Wind Turbine Installation Vessel Industry?
The Offshore Wind Turbine Installation Vessel market is projected to reach $3.60 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.0%.
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What are the Key Growth Drivers Fueling the Offshore Wind Turbine Installation Vessel Market?
The key drivers in the offshore wind turbine installation vessel market are:
• Rising support for renewable, sustainable energy
• Increased private sector investment in offshore wind energy
• Growth in offshore wind capacity
• Increase in the development of floating wind farms and collaborative efforts between private companies and governments.
Global Market Segmentation: Identifying Major Offshore Wind Turbine Installation Vessel Industry Segments
The offshore wind turbine installation vessel market 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
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What are the Emerging Trends Shaping the Future of the Offshore Wind Turbine Installation Vessel Market?
The key trends in the offshore wind turbine installation vessel market are:
• Floating WTIV designs are emerging as a significant trend in the market.
• The offshore wind turbine installation vessel market is also being shaped by hydrogen and hybrid propulsion systems.
• The integration of digital twin technology is becoming increasingly influential in the industry.
• There's a growing trend of adopting noise and vibration minimization technologies and integrated energy storage systems.
Who Are the Top Competitors & Leading Players in the Offshore Wind Turbine Installation Vessel Market?
Major players 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
Regional Dominance: Which Area Leads the Global Offshore Wind Turbine Installation Vessel Market?
Europe was the dominating region in the offshore wind turbine installation vessel market in 2024
