Executive Summary
According to a research report published by Azoth Analytics, the Global Wind Turbine Installation Vessel (WTIV) Market was valued at around USD 2834 Million in the year 2021. The need for dry bulk shipping as part of the building of offshore wind farms is expected to increase, leading to an increase in the number of vessels used to install wind turbines (WTIV).
Many shipping corporations from a variety of industries have expanded into new markets and industries, making investments in everything from ports and terminals to logistics and technology. The wind turbine installation vessel (WTIV) has had difficulty keeping up with the offshore turbines' fast growth in size and height. Vessels that were delivered at the beginning of the decade are now either being pushed to the edge of the market, undergoing extensive maintenance, or needing to improve their cranes and decks significantly in order to remain competitive.
The first generation of WTIVs had a short lifespan, which had previously discouraged vessel builders from investing in newbuilds. However, the impending shortage of WTIVs that can support the largest turbines currently available, along with the globalisation of the offshore wind market and the opening up of new markets in Taiwan, Japan, and the US, has finally resulted in a surge of newbuild orders.
Based on the Vessel Type, the market is segmented into Self-Propelled Jack-Up Vessel, Heavy Lift Vessel. The Heavy Lift Vessel segment is expected to grow at a higher CAGR during the forecast period as the high share of this segment can be attributed to the high popularity as the demand for specialized installation vessels has increased over the past year in response to the growth of the offshore wind energy market, as turbines get larger and project size increases in scale and scope.
The Europe region holds the major Wind Turbine Installation Vessel (WTIV) Market share. In addition, the movement of several of these vessels into the Asia/Pacific wind market has also narrowed the pool of available WTIVs for wind turbine installation. Demand for 11+ MW segment is expected to grow in coming years as wind turbines are an increasingly important source of intermittent renewable energy. The many innovative solutions in specific design detail demonstrate again our technical leadership.
Scope of the Report
- The report presents the analysis of Global Wind Turbine Installation Vessel (WTIV) Market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028.
- The report analyses the Global Wind Turbine Installation Vessel (WTIV) Market By value (USD Million).
- The report analyses the Global Wind Turbine Installation Vessel (WTIV) Market By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel).
- The report analyses the Global Wind Turbine Installation Vessel (WTIV) Market By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
- The Global Wind Turbine Installation Vessel (WTIV) Market has been analysed by Countries (United States, United Kingdom, Germany, Belgium, Denmark, Netherlands, China, South Korea).
- The key insights of the report have been presented through economic factors. Also, the attractiveness of the market has been presented by region, By Vessel type, By Turbine Size.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions, new product development. The companies analysed in the report include - Jan De Nul Group, Van Oord, Cadeler, DEME Group, DNV, Lamprell plc, Shanghai Zhenhua Heavy Industries Company Limited (ZPMC), A2SEA, MPI Offshore, Fred. Olsen Windcarrier.
Key Target Audience
- Global Wind Turbine Installation Vessel (WTIV) Companies
- Power and Energy Companies
- Financial and Non-Financial Corporates.
- Government and Policy Makers
- Regulatory Authorities
Global Wind Turbine Installation Vessel (WTIV) Market - Analysis By Vessel Type, By Turbine Size, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2023F-2028F)
Table of Contents
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Global Wind Turbine Installation Vessel (WTIV) Market: Product Overview
4. Global Wind Turbine Installation Vessel (WTIV) Market: An Analysis
4.1 Market Size, By Value, Year 2018H-2028F
4.2 Global Wind Turbine Installation Vessel (WTIV) Market: Growth & Forecast
4.3 Global Wind Turbine Installation Vessel (WTIV) Market: Global Presence
4.4 Global Wind Turbine Installation Vessel (WTIV) Market: Ecosystem Factors
4.5 Impact of COVID-19 on Global Wind Turbine Installation Vessel (WTIV) Market
5. Global Wind Turbine Installation Vessel (WTIV) Market By Vessel Type
5.1 Competitive Scenario of Global Wind Turbine Installation Vessel (WTIV) Market: By Vessel Type (2022E & 2028F)
5.2 By Self-Propelled Jack-Up Vessel - Market Size and Forecast (2018H-2028F)
5.3 By Heavy Lift Vessel - Market Size and Forecast (2018H-2028F)
6. Global Wind Turbine Installation Vessel (WTIV) Market By Turbine Size
6.1 Competitive Scenario of Global Wind Turbine Installation Vessel (WTIV) Market: By Turbine Size (2022E & 2028F)
6.2 By 0-5 MW - Market Size and Forecast (2018H-2028F)
6.3 By 6-11 MW - Market Size and Forecast (2018H-2028F)
6.4 By 11+ MW - Market Size and Forecast (2018H-2028F)
7. Global Wind Turbine Installation Vessel (WTIV) Market: Regional Analysis
7.1 Competitive Scenario of Global Wind Turbine Installation Vessel (WTIV) Market: By Region (2022E & 2028F)
8. United States Wind Turbine Installation Vessel (WTIV) Market: An Analysis (2018H-2028F)
8.1 United States Wind Turbine Installation Vessel (WTIV) Market: Market Indicators
8.2 United States Wind Turbine Installation Vessel (WTIV) Market By Value: Size and Forecast (2018H-2028F)
8.3 United States Wind Turbine Installation Vessel (WTIV) Market: Prominent Companies
8.4 Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
8.5 Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
9. Europe Wind Turbine Installation Vessel (WTIV) Market: An Analysis (2018H-2028F)
9.1 Europe Wind Turbine Installation Vessel (WTIV) Market Ecosystem Factors
9.2 Europe Wind Turbine Installation Vessel (WTIV) Market By Value: Size and Forecast (2018H-2028F)
9.3 Europe Wind Turbine Installation Vessel (WTIV) Market: Prominent Companies
9.4 Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
9.5 Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
9.6 Europe Wind Turbine Installation Vessel (WTIV) Market: Country Analysis
9.7 Market Opportunity Chart of Europe Wind Turbine Installation Vessel (WTIV) Market - By Country, By Value (Year-2028F)
9.8 Competitive Scenario of Europe Wind Turbine Installation Vessel (WTIV) Market - By Country (2022E & 2028F)
9.9 United Kingdom Wind Turbine Installation Vessel (WTIV) Market: Size and Forecast (2018H-2028F)
9.10 United Kingdom Wind Turbine Installation Vessel (WTIV) Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
9.11 United Kingdom Wind Turbine Installation Vessel (WTIV) Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
9.12 Germany Wind Turbine Installation Vessel (WTIV) Market: Size and Forecast (2018H-2028F)
9.13 Germany Wind Turbine Installation Vessel (WTIV) Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
9.14 Germany Wind Turbine Installation Vessel (WTIV) Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
9.15 Belgium Wind Turbine Installation Vessel (WTIV) Market: Size and Forecast (2018H-2028F)
9.16 Belgium Wind Turbine Installation Vessel (WTIV) Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
9.17 Belgium Wind Turbine Installation Vessel (WTIV) Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
9.18 Denmark Wind Turbine Installation Vessel (WTIV) Market: Size and Forecast (2018H-2028F)
9.19 Denmark Wind Turbine Installation Vessel (WTIV) Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
9.20 Denmark Wind Turbine Installation Vessel (WTIV) Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
9.21 Netherlands Wind Turbine Installation Vessel (WTIV) Market: Size and Forecast (2018H-2028F)
9.22 Netherlands Wind Turbine Installation Vessel (WTIV) Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
9.23 Netherlands Wind Turbine Installation Vessel (WTIV) Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
10. Asia Pacific Wind Turbine Installation Vessel (WTIV) Market: An Analysis (2018H-2028F)
10.1 Asia Pacific Wind Turbine Installation Vessel (WTIV) Market: Ecosystem Factors
10.2 Asia Pacific Wind Turbine Installation Vessel (WTIV) Market By Value: Size and Forecast (2018H-2028F)
10.3 Asia Pacific Wind Turbine Installation Vessel (WTIV) Market: Prominent Companies
10.4 Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
10.5 Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
10.6 Asia pacific Wind Turbine Installation Vessel (WTIV) Market: Country Analysis
10.7 Market Opportunity Chart of Asia pacific Wind Turbine Installation Vessel (WTIV) Market - By Country, By Value (Year-2028F)
10.8 Competitive Scenario of Asia Pacific Wind Turbine Installation Vessel (WTIV) Market - By Country (2022E & 2028F)
10.9 China Wind Turbine Installation Vessel (WTIV) Market: Size and Forecast (2018H-2028F)
10.10 China Wind Turbine Installation Vessel (WTIV) Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
10.11 China Wind Turbine Installation Vessel (WTIV) Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
10.12 South Korea Wind Turbine Installation Vessel (WTIV) Market: Size and Forecast (2018H-2028F)
10.13 South Korea Wind Turbine Installation Vessel (WTIV) Market Segmentation By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel)
10.14 South Korea Wind Turbine Installation Vessel (WTIV) Market Segmentation By Turbine Size (0-5 MW, 6-11 MW, 11+ MW)
11. Global Wind Turbine Installation Vessel (WTIV) Market Dynamics
11.1 Global Wind Turbine Installation Vessel (WTIV) Market Drivers
11.2 Global Wind Turbine Installation Vessel (WTIV) Market Restraint
11.3 Global Wind Turbine Installation Vessel (WTIV) Market Trends
12. Market Attractiveness
12.1 Market Attractiveness Chart of Global Wind Turbine Installation Vessel (WTIV) Market - By Vessel Type (Year 2028F)
12.2 Market Attractiveness Chart of Global Wind Turbine Installation Vessel (WTIV) Market - By Turbine Size (Year 2028F)
12.3 Market Attractiveness Chart of Global Wind Turbine Installation Vessel (WTIV) Market - Region (Year 2028F)
13. Competitive Landscape
13.1 Market Share of Leading Global Companies
14. Company Profiles (Business Description, Financial Analysis, Business Strategy)
14.1 Jan De Nul Group
14.2 Jan De Nul Group: Recent Developments
14.3 Van Oord
14.4 Van Oord: Recent Developments and Merger
14.5 Cadeler
14.6 Cadeler: Future Developments
14.7 DEME Group
14.8 DEME Group: Recent Developments
14.9 DNV
14.10 Lamprell plc
14.11 Lamprell plc: Recent developments
14.12 Shanghai Zhenhua Heavy Industries Company Limited (ZPMC)
14.13 A2SEA
14.14 MPI Offshore
14.15 Fred. Olsen Windcarrier
List of Figures
Figure 1: Global Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 2: New Turbine Installations Offshore Worldwide, 2020 (in %)
Figure 3: Total Turbine Installations Offshore Worldwide, till 2020 (in %)
Figure 4: New and Total Offshore Installations (in MW), 2020
Figure 5: Global Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type Market Share, 2022E & 2028F
Figure 6: Global Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Self-Propelled Jack-Up Vessel, By Value (USD Million), 2018H-2028F
Figure 7: Global Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Heavy Lift Vessel, By Value (USD Million), 2018H-2028F
Figure 8: Global Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size Market Share, 2022E & 2028F
Figure 9: Global Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By 0-5 MW, By Value (USD Million), 2018H-2028F
Figure 10: Global Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By 6-11 MW, By Value (USD Million), 2018H-2028F
Figure 11: Global Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By 11+ MW, By Value (USD Million), 2018H-2028F
Figure 12: Global Wind Turbine Installation Vessel (WTIV) Market- By Region Market Share, 2022E & 2028F
Figure 13: United States Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 14: United States Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value (USD Million), 2018H-2028F
Figure 15: United States Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value (USD Million),2018H-2028F
Figure 16: Offshore European Wind Market Status [MW]
Figure 17: New Offshore Wind Installations in Europe By Capacity (in GW), 2016-2020
Figure 18: Overview of Offshore Wind Turbine Installation Vessels in Europe, 2020 (in units)
Figure 19: New Offshore Installations per Country, Expectations Scenario b/w 2021-2025F, by Capacity (in GW)
Figure 20: New Offshore Wind Power Installations Outlook 2022-2026 (GW)
Figure 21: Europe Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 22: Europe Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value (USD Million), 2018H-2028F
Figure 23: Europe Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value (USD Million), 2018H-2028F
Figure 24: Market Opportunity Chart of Europe Wind Turbine Installation Vessel (WTIV) Market- By Country, By Value (Year-2028F)
Figure 25: Europe Wind Turbine Installation Vessel (WTIV) Market- By Country Market Share, 2022E & 2028F
Figure 26: United Kingdom Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 27: United Kingdom Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value (USD Million), 2018H-2028F
Figure 28: United Kingdom Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value (USD Million), 2018H-2028F
Figure 29: Germany Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 30: Germany Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value (USD Million), 2018H-2028F
Figure 31: Germany Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value (USD Million), 2018H-2028F
Figure 32: Belgium Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 33: Belgium Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value, (USD Million), 2018H-2028F
Figure 34: Belgium Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value, (USD Million), 2018H-2028F
Figure 35: Denmark Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 36: Denmark Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value, (USD Million), 2018H-2028F
Figure 37: Denmark Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value, (USD Million), 2018H-2028F
Figure 38: Netherlands Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 39: Netherlands Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value, (USD Million), 2018H-2028F
Figure 40: Netherlands Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value, (USD Million), 2018H-2028F
Figure 41: Offshore Wind Market Status [MW], 2020-2021
Figure 42: Offshore Wind Projects in Asia Pacific (in numbers), 2021
Figure 43: Overview of Offshore Wind Turbine Installation Vessels in Asia, 2020 (in units)
Figure 44: Asia Pacific Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 45: Asia Pacific Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value, (USD Million), 2018H-2028F
Figure 46: Asia Pacific Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value (USD Million), 2018H-2028F
Figure 47: Market Opportunity Chart of Asia pacific Wind Turbine Installation Vessel (WTIV) Market- By Country, By Value (Year-2028F)
Figure 48: Asia Pacific Wind Turbine Installation Vessel (WTIV) Market- By Country Market Share, 2022E & 2028F
Figure 49: China Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 50: China Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value, (USD Million), 2018H-2028F
Figure 51: China Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value, (USD Million), 2018H-2028F
Figure 52: South Korea Wind Turbine Installation Vessel (WTIV) Market Size, By Value, 2018H-2028F (USD Million)
Figure 53: South Korea Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type, By Value, (USD Million), 2018H-2028F
Figure 54: South Korea Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size, By Value, (USD Million), 2018H-2028F
Figure 55: Market Attractiveness Chart of Global Wind Turbine Installation Vessel (WTIV) Market- By Vessel Type (Year-2028F)
Figure 56: Market Attractiveness Chart of Global Wind Turbine Installation Vessel (WTIV) Market- By Turbine Size (Year-2028F)
Figure 57: Market Attractiveness Chart of Global Wind Turbine Installation Vessel (WTIV) Market- By Region (Year-2028F)
Figure 58: Global Wind Turbine Installation Vessel (WTIV) Market Share (%), 2021
Figure 59: Jan De Nul Group, Turnover, 2017-2021 (USD Million)
Figure 60: Jan De Nul Group, Net Profit/Loss, 2017-2021 (USD Million)
Figure 61: Jan De Nul Group, By Turnover According to Activity (%), FY2021
Figure 62: Jan De Nul Group, By Geographical Segment (%), FY2021
Figure 63: Van Oord, Net Revenues, 2017-2021 (USD Million)
Figure 64: Van Oord, Net Profit/Loss, 2017-2021 (USD Million)
Figure 65: Van Oord, By Business Segment (%), FY2021
Figure 66: Van Oord , By Geographical Segment (%), FY2021
Figure 67: Cadeler, Annual Sales Revenue, 2017-2021 (USD Million)
Figure 68: Cadeler, Profit/ Loss, 2017-2021 (USD Million)
Figure 69: Cadeler, Net Sales Revenue, Disaggregation of Revenue from Contracts with Customers (%), FY2021
Figure 70: Cadeler, Sales Revenue, Disaggregation of Revenue from Contracts with Customers (%), FY2021
Figure 71: DEME Group, Annual Turnover, 2017-2021 (USD Million)
Figure 72: DEME Group, Profit, 2017-2021 (USD Million)
Figure 73: DEME Group, Sales Revenue, By Business Segment (%), FY2021
Figure 74: DEME Group, Sales Revenue, By Region (%), FY2021
Figure 75: DEME Group Order Book By segment (%), FY2021
Figure 76: DNV, Annual Turnover, 2017-2021 (USD Million)
Figure 77: DNV, Profit, 2017-2021 (USD Million)
Figure 78: DNV, Sales Revenue, By Business Segment (%), FY2021
Figure 79: DNV, Sales Revenue, By Geographical Segment (%), FY2021
Figure 80: Lamprell plc, Annual Turnover, 2017-2021 (USD Million)
Figure 81: Lamprell plc, Profit, 2017-2021 (USD Million)
Figure 82: Lamprell plc, Sales Revenue, By Business Segment (%), FY2021
Figure 83: Lamprell plc, Sales Revenue, By Business Segment (%), FY2020
Figure 84: Shanghai Zhenhua Heavy Industries Company Limited (ZPMC), Operating Revenue, 2017-2021 (USD Million)
Figure 85: Shanghai Zhenhua Heavy Industries Company Limited (ZPMC), Net Profit, 2017-2021 (USD Million)
Figure 86: Shanghai Zhenhua Heavy Industries Company Limited (ZPMC), Sales Revenue, By Business Segment (%), FY2021
Figure 87: Shanghai Zhenhua Heavy Industries Company Limited (ZPMC), Sales Revenue, By Geographical Segment (%), FY2021
List of Tables
Table A: List of WTIVs in Operation and Ordered Worldwide
Table B: Assumptions Used for the Analysis World ex. China, 2022-2032 (F)
Table C: Global WTIV Fleet (Excluding Mainland China Fleet), 2021-2025
Table D: Global WTIV Fleet (Excluding Mainland China Fleet), 2021-2025
Table E: Summary of State Procurements and Corresponding Project Installation Years, United States
Table F: Current Offshore Wind Projects and their Estimated Timeline through 2035
Table G: Future Offshore Wind Projects and their Estimated Timeline through 2035
Table H: Planned or Under Construction WTIVs Capable of Installing 18-MW Turbines in USA
Table I: Vessels That Pose a High or Moderate Risk To Achieving the National Offshore Wind Energy Target
Table J: Current U.S. Offshore Wind State Procurement Policies and Activity as of May 31, 2021
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- Pay - as - you - go / Bucket Subscriptions
- Fixed Cost for #of reports
- Customize / Personalize as per your needs
