Increase in preference for alternative and renewable sources of energy due to rise in concerns of pollution and global warming has fueled the growth of the global offshore wind turbine installation vessel market. Wind energy is more at offshore rather than on land, hence offshore vehicles possess high growth potential.
Offshore wind turbine installation is done offshore to harvest wind energy and thereby generate electricity. This is done usually on continental shelf.
A wind turbine installation vessel is a vessel specially designed for the installation of offshore wind turbines. Other than transportation, installation, and accommodation of offshore wind turbines, these vessels are also suitable to install other offshore facilities such as tidal current turbines, wave energy generators, met masts, and oil & gas infrastructure.
Wind energy is more at offshore rather than on land, hence offshore vehicles possess high growth potential.
However, construction of offshore wind farms is significantly affected by hostile weather conditions and downtime due to extreme weather conditions is high, which retrain the market growth. Initiatives taken by the governments to develop greener sources of energy are expected to provide lucrative opportunities for the market.
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The market for the offshore wind turbine vessel is segmented into type and geography. On the basis of type, the market is categorized into self-propelled jack-up vessel, normal jack-up vessel, and heavy lift vessel.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The Key Players Mentioned In the Report
- Fred. Olsen Windcarrier
- Gaoh Offshore
- Jack-Up Barge
- Swire Blue Ocean and
- Van Oord.
Key Benefits for Stakeholders
- This report provides an extensive analysis of the current and emerging market trends, dynamics, and estimations for the key market segments in the global offshore wind turbine installation vessel market from 2017 to 2023.
- Exhaustive analysis of the market by type helps understand the current trends in use and the variants that are expected to gain prominence in the future.
- This report presents competitive intelligence of the market to understand the competitive scenario across the countries globally.
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