The global wind turbine installation vessel market will derive growth from recent advancements in the equipment associated with the system. According to a report by Fortune Business Insights, titled “Wind Turbine Installation Vessel Market Size, Share and Global Trend By Construction Type (Foundation, Cable Laying, Others), By Vessel Type (Self-Propelled Jack-up Vessel, Normal Jack-Up Vessel, Heavy-Lift Vessel) and Geography Forecast till 2026,” the market will benefit from the increasing efforts taken to maximize the use of wind energy.
Some of the leading companies that are operating in the global market are:
- A2SEA A/S
- MPI Offshore
- Olsen Windcarrier
- Jan De Nul Group
- Van Oord
- Jack-Up Barge BV
- Seajacks Ltd.
- Swire Blue Ocean A/S
- Seafox, Gaoh Offshore
- DEME Group
- DNV GL – Maritime
Key Industry Developments:
- May 2019: DEME Offshore secured a contract for the installation of 165 foundations at Orsterd’s Hornsea Two offshore wind farm in the UK.
- Key Market Driver – Rapid installation & persistent development in offshore wind technologies
- Key Market Restraint – Harsh environmental conditions & challenges involved in construction
The demand for energy has risen dramatically in the past two decades. Depletion of conventional resources have led to a subsequent need for harnessing non-renewable energy. The increasing demand for energy will open up a huge potential for the companies operating in the market. Wind energy is one of the cleanest forms of energy, as a result of which numerous efforts are being taken to maximize its use to generate electricity. Recent advancements in offshore wind energy harnessing have created several opportunities for growth. As a result, there has been a rise in the dramatic rise in the demand for the equipment in the wind turbine installation vessel market.
The report encompasses several factors that have constituted an increase in the wind turbine installation vessel market size in recent years. It highlights leading products in the market and states the impact of major product launches on market growth. The competitive landscape has been discussed in detail. Major companies have been highlighted in the report and predictions have been made with regard to companies that are likely to emerge dominant in the coming years. Additionally, the report segments the market on the basis of various criteria, including construction type, vessel type and regional demographics. It highlights leading elements from each of these criteria.
Increasing Investments in Product R&D to Aid Growth
The increasing efforts taken to enhance optimized usage of wind energy will emerge in favor of market growth. In August 2019, Jan De Nul bagged a contract from Vattenfall for the development of a 605 MW Kriegers Flak offshore wind project in the Danish Baltic Sea. Similarly, Seajack International was awarded a contract from Seimens Gamesa Renewable Energy for transportation and installation of wind turbines at a major offshore wind project. Such contracts will not help the companies grow, but will also have a direct impact on the growth of the market in the coming years. The report highlights activities similar to the aforementioned investments and gauges the impact of these contracts on the global market.
North America to Exhibit Considerable Growth; Presence of Several Offshore Regions to Provide Impetus to Growth
The report segments the market into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. The market in North America will exhibit high growth in the coming years owing to the presence of large offshore areas in several countries across the region. Growing efforts taken to develop and deploy offshore wind projects will contribute to the growth of the market in this region. Besides North America, Europe will witness considerable growth owing to the ongoing plans and initiatives taken to promote wind energy harnessing.
Key Segmental Overview:
1. By Vessel Type
- Self-Propelled Jack-up Vessel
- Normal Jack-Up Vessel
- Heavy-Lift Vessel
2. By Construction Type
- Cable Laying
3. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Major Table of Content For Wind Turbine Installation Vessel Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Wind Turbine Installation Vessel Market Analysis, Insights and Forecast, 2014-2025
- North America Wind Turbine Installation Vessel Market Analysis, Insights and Forecast, 2014-2025
- Europe Wind Turbine Installation Vessel Market Analysis, Insights and Forecast, 2014-2025
- Asia Pacific Wind Turbine Installation Vessel Market Analysis, Insights and Forecast, 2014-2025
- Middle East and Africa Wind Turbine Installation Vessel Market Analysis, Insights and Forecast, 2014-2025
- Latin America Wind Turbine Installation Vessel Market Analysis, Insights and Forecast, 2014-2025
- Competitive Landscape
- Company Profile
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