Global Offshore Wind Turbine Installation Vessel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Offshore Wind Turbine Installation Vessel Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Offshore Wind Turbine Installation Vessel market finds that the global Offshore Wind Turbine Installation Vessel market reached a value of USD 746.48 million in 2022. It’s expected that the market will achieve USD 3646.44 million by 2028, exhibiting a CAGR of 30.26% during the forecast period.

Limitations

Fundamentally, offshore wind turbine installation vessels are not a common device. The construction of global offshore wind power projects is limited, so the annual market demand for Offshore Wind Turbine Installation Vessel is not large. The competition among players in the industry for orders is fierce.
With the continuous development of the wind power market, the requirements for Offshore Wind Turbine Installation Vessel will continue to increase. The selection of a wind turbine installation vessel is affected by the number of wind turbines, power, offshore distance, water depth, and other factors. The wind turbine installation vessel selected in the wind farm construction process varies. The development of offshore wind farms will be faster and faster, and in the future, it may develop in the direction of larger wind turbines, deeper waters, lower costs, higher safety, and more base types. These characteristics will place higher requirements on the design and construction of future wind turbine installation vessels.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

The top three companies are China Merchants Group, ZPMC, Japan Marine United Corporation with the revenue market share of 27.39%, 17.94%, 15.98% in 2018.

China Merchants Group's main business includes high value-added products such as offshore oil drilling platforms, wind power installation service platforms, FPSO, LNG ships, semi-submersible lifting platforms, polar adventure cruise ships, and medium-sized luxury cruise ships.

ZPMC designs, manufactures, and markets large-size port handling equipment, engineering vessels, large-size metal structures, and related parts. The Company also leases cranes.

Segmentation Overview:

Among different product types, Normal Jack-up Vessel segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Water Depth Below 40 Meter segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Offshore Wind Turbine Installation Vessel market covered in Chapter 3:

Pella Sietas
DaYang Offshore Equipment Co., Ltd.
ZPMC
CSSC Huangpu Wenchong Shipbuilding Co., Ltd.
Japan Marine United Corporation
Xiamen Shipbuilding Industry Co., Ltd.
COSCO SHIPPING HEAVY INDUSTRY CO., LTD.
Jiangsu Hantong Ship Heavy Industry Co., Ltd.
China Merchants Group
Samsung Heavy Industries
Nantong Rainbow Offshore & Engineering Equipments Co., Ltd.
Lamprell

In Chapter 4 and Chapter 14.2, on the basis of types, the Offshore Wind Turbine Installation Vessel market from 2018 to 2029 is primarily split into:

Self-propelled Jack-up Vessel
Normal Jack-up Vessel
Heavy Lift Vessel
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Offshore Wind Turbine Installation Vessel market from 2018 to 2029 covers:

Water Depth Below 40 Meters
Water Depth of 40 Meters and Above

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)