Market Insights and Forecast with Impact of COVID-19 (2023F-2028F)
Executive Summary According to a research report published by Azoth Analytics, the global market for Wind Turbine Mounting Vessels (WTIV) was valued at approximately $2,834 million in 2021.
NEW YORK, Sep 6, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the Global Wind Turbine Installation Vessels Market (WTIV) Report – Analysis by Ship Type, by Turbine Size, by Region, by Country (2022) Edition: Market Insights and outlook with the impact of COVID-19 (2023F-2028F)” – https://www.reportlinker.com/p06318363/?
The need to ship dry bulk cargo as part of offshore wind farm construction is expected to increase, leading to an increase in the number of vessels used to install wind turbines (WTIV).
Many shipping companies have expanded from a variety of industries into new markets and industries, making investments in everything from ports and terminals to logistics and technology. The Wind Turbine Installation Vessel (WTIV) has struggled to keep pace with the rapid growth of offshore turbines in size and height. Ships delivered at the start of the decade are now being pushed to the edge of the market, undergoing extensive maintenance, or need to significantly improve their cranes and decks in order to remain competitive.
First-generation WTIVs had a short lifespan, which previously discouraged shipbuilders from investing in new buildings. However, the impending shortage of WTIVs that can support the largest turbines currently available, combined with the globalization of the offshore wind market and the opening of new markets in Taiwan, Japan and the United States, has finally increased orders for new construction.
Based on the type of vessel, the market is segmented into self-propelled crane vessel, heavy lift vessel. The heavy lift vessels segment is expected to grow at a higher CAGR during the forecast period as the large share of this segment can be attributed to the high popularity as the demand for specialized installation vessels increased over the past year in response to the growth of the offshore wind energy market, as turbines increase and the volume of project in terms of size and scope.
The Europe region holds the major market share for wind turbine installation vessels (WTIV). In addition, the move of many of these vessels to the Asia Pacific wind market has narrowed the range of WTIVs available for wind turbine installation. The demand for the 11+ MW sector is expected to grow in the coming years as wind turbines are an increasingly important source of intermittent renewable energy. The numerous innovative solutions in specific design details once again demonstrate our technical leadership.
• The report presents the analysis of the global Wind Turbine Mounting Vessels (WTIV) market for the historical period 2018-2021, estimated year 2022 and forecast period 2023-2028.
• The report analyzes the global wind turbine installation vessel (WTIV) market by value (US$ million).
• The report analyzes the global wind turbine installation vessel (WTIV) market by vessel type (self-propelled vessel, heavy lift vessel).
• The report analyzes the global wind turbine installation vessel (WTIV) market by turbine size (0-5 MW, 6-11 MW, 11+ MW)
• The global market for wind turbine installation vessels (WTIV) has been analyzed by countries (USA, UK, Germany, Belgium, Denmark, Netherlands, China, South Korea).
• The report’s main insights are presented through economic factors. Also, market attractiveness was presented by region, by vessel type, by turbine size.
• The main opportunities, trends, drivers and challenges of the industry are also analyzed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions, and new product development. Companies analyzed in the report include – Jan De Nul Group, Van Oord, Cadeler, DEME Group, DNV, Lamprell plc, Shanghai Zhenhua Heavy Industries Company Limited (ZPMC), A2SEA, MPI Offshore and Fred. Olsen Wind Carrier.
Main target audience
• Worldwide Wind Turbine Installer (WTIV) Ship Companies
• Energy and energy companies
• Financial and non-financial companies.
• Government and policy makers
• Regulatory authorities
Read the full report: https://www.reportlinker.com/p06318363/?
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