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Wind Turbine Installation Vessel Market Size | Status | Top Players | Trends and Forecast to 2024

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Self-propelled jack-up vessel is a vessel specifically designed for the installation of offshore wind turbines. Similar to a jack-up rig it is self-elevating. To enable quick relocation in the wind farm it is self-propelled. It also has a slender ship shaped hull to achieve a quick turnaround time with the vessel carrying several foundations or wind turbines each time. Azimuth thrusters are used to position the vessel during jack-up operations. Besides self-propelled jack-up vessel, heavy lift vessel and other jack-up vessel which is used in wind turbine installation is also discussed as offshore wind turbine installation vessels. And in this report, we focus on the service market which is the most important part of the global offshore wind turbine installation vessel market.

Driven by the increasing demand of constructing offshore wind farm with higher requirements on capacity and efficiency, the demand of specially designed vessel is facing a sudden increase. But in root, offshore wind turbine installation vessel is not a commonly used equipment; the fleet size will never be enough large for every ship builder to have chance to achieve an order. The market competition of ship building is quite fierce worldwide currently; for the building of offshore wind turbine installation vessel, the competition is surely forecasted to be fierce.

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According to report from annual report of some offshore wind farm runners, the logistics-related cost amount to roughly 19% of total CAPEX (Capital Expenditures). Though the cost for installation of a turbine is reducing by years, the total turbine installation cost is also much higher than cost of most other kinds of marine installation.

Currently, the profit of running of offshore wind turbine installation vessel is not that high, affected by the relatively low utilization rate of fleet. But it is still a fact that the profit is relatively higher than other marine projects.

The advantages or benefits of wind power is unnecessary to mention again. And we think that nobody would doubt there is vast market for wind power. The game of offshore wind power is just at the beginning, as well as the good days for offshore wind turbine installation vessel runners.

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According to this study, over the next five years the Wind Turbine Installation Vessel market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$ xx million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Wind Turbine Installation Vessel business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Wind Turbine Installation Vessel market by product type, application, key manufacturers and key regions and countries.

This study considers the Wind Turbine Installation Vessel value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Self-propelled Jack-up Vessel
Normal Jack-up Vessel
Heavy Lift Vessel
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Offshore
Others

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Nehal Chinoy

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