Wind Turbine Installation Vessel Market Size, Share, Growth, and Industry Analysis, By Type (Self-propelled Jack-up Vessel, Normal Jack-up Vessel, Heavy Lift Vessel) By Application (Enterprise, Government) Regional Forecast From 2025 To 2034

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WIND TURBINE INSTALLATION VESSEL MARKET OVERVIEW

The global Wind Turbine Installation Vessel Market size stood at USD 2.01 billion in 2025, growing further to USD 6.53 billion by 2034 at an estimated CAGR of 14% from 2025 to 2034.

The United States Wind Turbine Installation Vessel Market size is projected at USD 0.61021 billion in 2025, the Europe Wind Turbine Installation Vessel Market size is projected at USD 0.51684 billion in 2025, and the China Wind Turbine Installation Vessel Market size is projected at USD 0.60097 billion in 2025.

The global COVID-19 pandemic has been unprecedented and staggering, with the lutein and lutein esters market experiencing Higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

A wind turbine installation vessel (WTIV) is a specialized vessel designed for the installation of offshore wind turbines. These vessels play a crucial role in the construction of offshore wind farms, which are in waters too deep or challenging for traditional fixed-bottom installations. WTIVs are equipped with advanced features and capabilities to transport, lift, and install wind turbine components. They typically have a large deck space and a heavy-lift crane that can handle the weight and size of wind turbine components, including tower sections, nacelles, and blades. The crane's lifting capacity is a critical factor, as it determines the maximum size of turbines that can be installed.

The vessels are designed with dynamic positioning systems to maintain their position and stability during the installation process, allowing precise positioning of the turbine foundation and tower. This ensures safe and accurate installation even in rough sea conditions.

KEY FINDINGS

COVID-19 IMPACT

Pandemic Hamper the Demand of Wind Turbine Installation Vessel to Market Growth

The COVID-19 pandemic has had a notable impact on various industries, including the wind energy sector and the operations of wind turbine installation vessels (WTIVs). The pandemic has caused delays and disruptions in the manufacturing, delivery, and installation of wind turbines. Restrictions on travel, temporary shutdowns of manufacturing facilities, and supply chain disruptions have affected the production and transportation of wind turbine components, leading to project delays, and rescheduling of installation activities. 

LATEST TRENDS

Increasing Demand for Larger Crane Capacities Will Propel Market Growth  

 As wind turbines continue to increase in size and capacity, there is a growing demand for WTIVs with larger crane capacities. High-capacity cranes enable the installation of larger turbine components, such as longer blades and heavier nacelles, in a single lift, reducing the number of crane operations required and improving installation efficiency.  

• Large-crane newbuilds: Some new WTIVs are being built with ~2,600 t main cranes to handle 14 MW+ turbines.

• Fleet expansion vs. gap: Industry tracking shows ~49 in-service WTIVs (2023) while consultancies estimate a newbuild pipeline of dozens more to meet future demand.

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WIND TURBINE INSTALLATION VESSEL MARKET SEGMENTATION

By Type Analysis

According to type, the wind turbine installation vessel market can be segmented into self-propelled jack-up vessel, normal jack-up vessel, and Heavy Lift Vessel.

In terms of type, self-propelled jack-up vessels are anticipated to be the largest segment during the forecast period.  

By Application Analysis

Based on application, the wind turbine installation vessel market can be divided into offshore and others.

In terms of application, the offshore market is projected to hold a wind turbine installation vessel market share through 2033.  

DRIVING FACTORS

Growing Offshore Wind Industry Will Uplift Market Growth

 The rapid expansion of the offshore wind industry is a significant driving factor for WTIVs. Increasing global commitments to renewable energy and the need to reduce carbon emissions are driving the development of offshore wind projects. This creates a demand for WTIVs to efficiently install and maintain wind turbines in offshore locations.

Larger and More Complex Wind Turbines Will Increase Market Growth 

 The trend towards larger and more powerful wind turbines necessitates specialized installation vessels. As wind turbines continue to grow in size, WTIVs with higher lifting capacities and advanced crane systems are required to handle the larger components. WTIVs play a crucial role in transporting and installing these complex turbines in deep waters and challenging offshore environments.

• Project pipeline scale: The U.S. offshore pipeline alone was estimated at ~80,523 MW (May 31, 2024) — large pipelines in multiple regions drive WTIV demand.

• Global operating base: 322 operating offshore wind projects (through Dec 31, 2023) provide ongoing installation and O&M opportunities requiring WTIVs.

RESTRAINING FACTORS

Limited Availability and Competition Will Hinder Market Growth

 The number of WTIVs available in the market is relatively limited compared to the growing demand for offshore wind projects. This limited availability can result in increased competition and higher chartering costs for WTIVs. Developers may face challenges in securing the desired vessel at the right time and within budget, potentially causing project delays or increased costs.

• Vessel shortage & logistics: Launch of the first U.S. WTIV underlined a critical shortage of installation vessels in the U.S., constraining timely project delivery (e.g., Charybdis supporting a 2.6 GW project while more WTIVs are still needed).

• Ports & supply-chain limits: U.S. and other markets report port infrastructure and domestic shipbuilding capacity gaps relative to deployment targets such as 30 GW by 2030 (U.S. national goal), which complicates scaling installations.

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WIND TURBINE INSTALLATION VESSEL MARKET REGIONAL INSIGHTS

The North America Region will Dominate Market Due to Strong Demand WTIVs

Europe is a frontrunner in the offshore wind industry and has a well-established market for WTIVs. Countries like the United Kingdom and the Netherlands have been at the forefront of offshore wind development. They have a significant number of installed wind turbines and ongoing projects, driving the demand for WTIVs in the region. European WTIV operators and vessel builders have gained considerable experience and expertise in the installation and maintenance of offshore wind farms.

The Asia-Pacific region is experiencing rapid growth in the offshore wind sector, particularly in countries like China, Taiwan, South Korea, and Japan. These countries have set ambitious targets for offshore wind capacity expansion and are investing heavily in developing their offshore wind resources. As a result, there is increasing demand for WTIVs in the region to support the installation of wind turbines in challenging offshore environments.

KEY INDUSTRY PLAYERS

Adoption Recycling Services by Key Players Influencing Market Development

The top key players in the laser crystal materials market are DEME, Seajacks, Fred. Olsen Windcarrier, Van Oord (MPI-Offshore), Jack-Up Barge. Most of the top players hold the wind turbine installation vessel market share. In addition, the strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the wind turbine installation vessel market growth in the competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession of market shares by the key players stimulates the wind turbine installation vessel market.

• Longyuan Power: Longyuan’s consolidated installed renewable capacity reached 41,143.2 MW (end-2024), making it a major Chinese developer active in offshore and onshore projects.

• Van Oord: Van Oord accepted the WTIV Boreas on 8 Jan 2025, demonstrating ongoing fleet renewal and large-vessel capability expansion.

List of Top Wind Turbine Installation Vessel Companies

• Longyuan Power
• Van Oord
• Seajacks
• Jack-Up Barge
• NO.3 Engineering
• Geosea
• A2SEA
• SEAFOX
• Gaoh Offshore
• Swire Blue Ocean
• MPI-Offshore
• Fred. Olsen Windcarrier

REPORT COVERAGE

This report examines an understanding of the wind turbine installation vessel market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.