Offshore Wind Turbine Installation Vessel Market Report 2026

The offshore wind turbine installation vessel market size has grown rapidly in recent years. It will grow from $2.26 billion in 2025 to $2.52 billion in 2026 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to increasing offshore wind farm construction activity, growth in turbine size and weight, availability of heavy-lift marine vessels, expansion of offshore installation contractors, rising investments in marine logistics infrastructure.

The offshore wind turbine installation vessel market size is expected to see rapid growth in the next few years. It will grow to $3.9 billion in 2030 at a compound annual growth rate (CAGR) of 11.6%. The growth in the forecast period can be attributed to increasing demand for next-generation wtivs, expansion of floating offshore wind installations, rising focus on low-emission vessel designs, growing investments in autonomous vessel technologies, increasing offshore wind capacity additions. Major trends in the forecast period include increasing deployment of large-capacity installation vessels, rising adoption of self-propelled jack-up wtivs, growing demand for floating installation capabilities, expansion of multi-purpose offshore vessels, enhanced focus on installation efficiency and safety.

Growing investments in renewable infrastructure are expected to stimulate the expansion of the offshore wind turbine installation vessel market in the coming years. Renewable infrastructure refers to the systems and facilities built to generate, store, transmit, and distribute energy derived from renewable sources. The rise in such investments is driven by the urgent need to lower carbon emissions and secure long-term energy stability. Offshore wind turbine installation vessels support renewable infrastructure by enabling the efficient transport, assembly, and installation of large offshore wind turbines, helping accelerate wind farm development and increase clean energy capacity. For example, in February 2024, Sustainable Views, a UK-based provider of specialist news and analysis, reported that clean energy investment in the UK surged by 84% in 2023 compared with 2022, reflecting a major acceleration in the country’s energy transition. Therefore, the increasing investment in renewable infrastructure is boosting the offshore wind turbine installation vessel market.

Companies in the offshore wind turbine installation vessel market are emphasizing technological advancements such as hybrid drivetrain systems to cut carbon emissions per installed megawatt of offshore wind capacity while also improving fuel efficiency and operational performance in demanding marine environments. Hybrid drivetrain technology combines conventional internal combustion engines with electric propulsion systems to optimize fuel use, reduce emissions, and enhance overall performance, particularly for vessels. For instance, in February 2025, Havfram, a Norway-based offshore wind installation services provider, introduced Norse Wind - a vessel designed to install turbines with rotor diameters exceeding 300 meters and XXL monopiles weighing up to 3,000 tons in water depths of up to 70 meters. Norse Wind features hybrid drivetrain technology intended to significantly reduce emissions per installed megawatt and a heavy-lift crane capable of handling XXL monopiles and large-diameter turbines, enabling efficient installation in challenging ocean conditions.

In April 2025, Dredging, Environmental and Marine Engineering NV, a Belgium-based marine engineering company, acquired Havfram AS for an undisclosed amount. Through this acquisition, DEME seeks to accelerate its growth in offshore wind energy by leveraging Havfram’s expertise in harsh offshore environments and its fleet of advanced turbine installation vessels equipped with cutting-edge technology to support the installation of larger turbines and foundations with reduced carbon emissions. Havfram is a Norway-based offshore wind infrastructure company.

Major companies operating in the offshore wind turbine installation vessel market are Cadeler A/S, DEME Offshore, Van Oord Offshore Wind, Seajacks International Ltd, Fred Olsen Windcarrier AS, MPI Offshore, A2SEA (DEME Group operation), Seafox Contractors BV, Gaoh Offshore, CWind (Global Marine Group)‬, Seaway 7 (Subsea 7), Swire Blue Ocean A/S (now part of operating WTIV under brand Cadeler context), Eneti Inc (WTIV ownership/operator through acquisition), Royal Boskalis Westminster N.V., OHT ASA (heavy lift vessel operator for WT projects), Penta‑Ocean Construction Co Ltd (offshore installation vessel operator), Shandong Ocean Group Co Ltd (Chinese offshore installation vessel operator), Jack‑Up Barge (independent WTIV operator), Longyuan Power (WTIV operator in China context), SEAFOX (independent offshore installation contractor)‬.

Europe was the dominating region in the offshore wind turbine installation vessel market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the offshore wind turbine installation vessel market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the offshore wind turbine installation vessel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, 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.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or 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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