The Offshore wind industry is expected to generate more annual gross capacity by 2030 as a consequence of considerable cost reductions, technological improvements, supportive policies, and rising national targets. In this dynamics, the industry must immediately create and invest in new Offshore Wind Turbine Installation Vessels if it is to achieve these demanding targets.

With the global offshore wind energy market expected to increase by six times by 2030, the number of installation vessels and their capabilities are insufficient to meet the anticipated market growth. The investment in WTIV will increase the number of wind turbine installations from the current numbers of installation projects which are not enough to meet the global demand.

The geographic distribution of the world's WTIV fleet now comprises of 50 vessels with the majority of them in Northern Europe and the remaining two-thirds off the coast of mainland China, offshore wind targets. This poses challenges for countries such as the United States that have plans to invest heavily in offshore wind over the next decade after setting up a target to deploy 30 GW of offshore wind by 2030.

The Azoth Analytics research report titled ‘Global Wind Turbine Installation Vessel (WTIV) Market (2022 Edition)’ presents the analysis of WTIV Market for the historical period of 2018-2021, the estimated year 2022 and the forecast period of 2023-2028. The report analyses the Global Wind Turbine Installation Vessel (WTIV) Market By Vessel Type (Self-Propelled Jack-Up Vessel, Heavy Lift Vessel) and By Turbine Size (0-5 MW, 6-11 MW, 11+ MW). The Global Wind Turbine Installation Vessel (WTIV) Market has been analysed by Countries that include United States, United Kingdom, Germany, Belgium, Denmark, Netherlands, China, South Korea.

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https://azothanalytics.com/report/energy-and-power/global-wind-turbine-installation-vessel-wtiv-market-analysis-by-vessel-type-by-turbine-size-by-region-by-country-2022-edition-market-insights-and-forecast-with-impact-of-covid-19-2023f-2028f

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