Offshore Wind Turbine Installation Vessel Global Market Report 2025

The offshore wind turbine installation vessel market size is expected to see rapid growth in the next few years. It will grow to $3.6 billion in 2029 at a compound annual growth rate (CAGR) of 12%. The growth anticipated in the forecast period is driven by stronger support for sustainable energy, more private sector investment, an increase in offshore wind capacity, a rise in floating wind farms, and greater collaboration between private companies and governments. Key trends expected during this period include floating WTIV designs, hydrogen and hybrid propulsion systems, the integration of digital twin technology, advancements in noise and vibration reduction, and the development of integrated energy storage systems.

Increasing investments in renewable infrastructure are expected to drive the growth of the offshore wind turbine installation vessel market in the coming years. Renewable infrastructure refers to the systems and facilities developed to generate, store, transmit, and distribute energy from renewable sources. These investments are largely motivated by the need to reduce carbon emissions and secure long-term energy stability. Offshore wind turbine installation vessels play a crucial role in this infrastructure by efficiently transporting, assembling, and installing large wind turbines at sea, speeding up the development of offshore wind farms and boosting clean energy capacity. For example, in February 2024, a report from Sustainable Views highlighted that UK clean energy investments rose by 84% in 2023 compared to the previous year, reflecting the country’s accelerated energy transition. As a result, increasing investments in renewable infrastructure are driving the offshore wind turbine installation vessel market.

Companies in the offshore wind turbine installation vessel market are concentrating on technological innovations, such as hybrid drivetrain technology, to reduce carbon emissions per megawatt of offshore wind capacity while improving fuel efficiency and performance in tough marine conditions. Hybrid drivetrain technology integrates traditional internal combustion engines with electric propulsion systems, optimizing fuel use, cutting emissions, and improving overall efficiency, especially in vessels and vehicles. In February 2025, Havfram, a Norway-based provider of offshore wind turbine installation services, introduced Norse Wind, a vessel designed for installing turbines with a rotor diameter exceeding 300 meters and XXL monopiles weighing up to 3,000 tons at depths of up to 70 meters. Norse Wind features hybrid drivetrain technology aimed at significantly reducing carbon emissions per megawatt of offshore wind capacity, alongside a heavy-lift crane capable of installing large turbines and monopiles, enabling efficient offshore wind turbine installation in difficult sea conditions.

In April 2025, DEME Group, a Belgium-based company specializing in dredging, land reclamation, and marine engineering, acquired Havfram AS for an undisclosed amount. This acquisition is part of DEME Group’s strategy to strengthen its offshore wind energy capabilities by leveraging Havfram’s expertise in harsh offshore environments and its fleet of next-generation wind turbine installation vessels, equipped with advanced technology to support the installation of larger turbines and foundations while reducing carbon emissions. Havfram is an offshore wind infrastructure company based in Norway.

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.

Europe was the dominating region in the offshore wind turbine installation vessel market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in offshore wind turbine installation vessel report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the offshore wind turbine installation vessel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The offshore wind turbine installation vessel market includes revenues earned by entities by providing services such as transportation, lifting, and installation of wind turbine components, foundation setting, and maintenance support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

An offshore wind turbine installation vessel (WTIV) is a specialized ship designed specifically for building offshore wind farms. These vessels are used to transport, lift, and install heavy wind turbine components at sea, facilitating the development of offshore wind energy infrastructure.

There are several main types of offshore wind turbine installation vessels, including self-propelled jack-up vessels, conventional jack-up vessels, heavy lift vessels, and others. Self-propelled jack-up vessels feature built-in propulsion systems, allowing for independent movement. These vessels are employed across various capacity categories - small, medium, and large. Installation methods vary and include bottom-fixed, floating, and shared installation techniques. These vessels are essential for a variety of applications such as the installation, maintenance, and repair of offshore wind farms. They are used by a diverse group of end users, including utility providers, private companies, government agencies, and others.

The offshore wind turbine installation vessel market research report is one of a series of new reports that provides offshore wind turbine installation vessel market statistics, including offshore wind turbine installation vessel industry global market size, regional shares, competitors with a offshore wind turbine installation vessel market share, offshore wind turbine installation vessel market segments, market trends and opportunities, and any further data you may need to thrive in the offshore wind turbine installation vessel industry. This offshore wind turbine installation vessel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The offshore wind turbine installation vessel market size has grown rapidly in recent years. It will grow from $2.04 billion in 2024 to $2.29 billion in 2025 at a compound annual growth rate (CAGR) of 12.3%. The growth during the historical period can be linked to the rise of deepwater wind projects, higher investment from utilities, demand increases driven by OEMs, government backing for renewable energy, and advancements in logistical and port infrastructure.

The market value is defined as the revenues that enterprises gain from the sale of goods and services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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