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By Type;
Self-Propelled Jack-Up Vessels [Autonomous Self-Propelled Vessels and Conventional Self-Propelled Vessels], Normal Jack-Up Vessels [Standard Jack-Up Vessels and Enhanced Stability Jack-Up Vessels], Heavy Lift Vessels [Crane-Lift Heavy Lift Vessels and Lift-and-Carry Heavy Lift Vessels] and OthersBy Capacity;
Small, Medium and LargeBy Method;
Bottom-Fixed Installation, Floating Installation and Shared InstallationBy Application;
Offshore Wind Farm Installation, Maintenance & Repair and OthersBy End-User;
Utility, Private, Government and OthersBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa and Latin America - Report Timeline (2021 - 2031)Offshore Wind Turbine Installation Vessel Market Overview
Offshore Wind Turbine Installation Vessel Market (USD Million)
Offshore Wind Turbine Installation Vessel Market was valued at USD 3460.18 million in the year 2024. The size of this market is expected to increase to USD 7649.36 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 12.0%.
Offshore Wind Turbine Installation Vessel Market
*Market size in USD million
CAGR 12.0 %
| Study Period | 2025 - 2031 |
|---|---|
| Base Year | 2024 |
| CAGR (%) | 12.0 % |
| Market Size (2024) | USD 3460.18 Million |
| Market Size (2031) | USD 7649.36 Million |
| Market Concentration | Low |
| Report Pages | 331 |
Major Players
- Seajacks International Limited
- Fred. Olsen Windcarrier
- Jan De Nul Group
- DEME Offshore
- Van Oord Offshore Wind
- Swire Blue Ocean
- MPI Offshore
- A2SEA A/S
- Eneti Inc.
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Offshore Wind Turbine Installation Vessel Market
Fragmented - Highly competitive market without dominant players
The Offshore Wind Turbine Installation Vessel Market is experiencing rapid growth as demand for renewable energy intensifies. With over 45% of new offshore wind projects requiring specialized vessels, the industry is increasingly focused on advanced capabilities to install large turbines efficiently. These vessels are vital for supporting offshore construction and ensuring operational reliability.
Key Growth Drivers
The strong push toward clean energy and expansion of offshore wind projects is accelerating market momentum. Almost 50% of turbine installations now depend on heavy-lift vessels designed for large-scale operations. Rising investments in offshore infrastructure are further boosting demand, making these specialized assets indispensable for energy transition goals.
Technological Advancements
Continuous upgrades in dynamic positioning systems, automation, and hybrid propulsion are enhancing efficiency. Around 40% of fleets now feature digital monitoring and advanced heavy-lift cranes, enabling installation of turbines above 12 MW. These technological improvements reduce downtime, improve accuracy, and ensure smoother offshore construction.
Operational Efficiency
The drive for cost efficiency and streamlined operations has made advanced vessels a critical component of offshore projects. Studies indicate that 35% of delays have been reduced by using vessels with modular deck layouts and higher load capacity. This focus on operational performance supports project deadlines and reduces overall installation costs.
Future Outlook
The Offshore Wind Turbine Installation Vessel Market shows strong expansion potential, with more than 55% of stakeholders expected to invest in fleet modernization. Ongoing R&D, digital integration, and new vessel designs will further strengthen capabilities. These investments will embed installation vessels as a core enabler of the global offshore wind industry.
Offshore Wind Turbine Installation Vessel Market Recent Developments
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In July 2024, the offshore wind turbine installation vessel market surged as major wind-farm developers accelerated deployment in deep-water locations, driving demand for next-generation self-propelled jack-up and heavy-lift vessels capable of handling larger turbine components and complex marine installations.
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In October 2024, the market gained further momentum thanks to international renewable-energy targets and escalating orders for specialized installation fleets, prompting shipbuilders and vessel operators to expand capacity and incorporate advanced features like dynamic positioning systems, hybrid propulsion and digital monitoring to boost efficiency and lower costs.
Offshore Wind Turbine Installation Vessel Market Segment Analysis
In this report, the Offshore Wind Turbine Installation Vessel Market has been segmented by Type, Capacity, Method, Application, End-User and Geography.
Offshore Wind Turbine Installation Vessel Market, Segmentation by Type
The Type segment categorizes vessels based on design and operational efficiency, directly influencing installation speed, safety, and cost. The market growth is driven by increasing offshore wind projects in deeper waters, which require advanced vessel configurations. Manufacturers are focusing on automation, modular design, and digital control systems to optimize performance and reduce downtime.
Self-Propelled Jack-Up Vessels
These vessels are among the most preferred for offshore wind turbine installation due to their mobility, high load capacity, and rapid positioning. They enable efficient operations in rough sea conditions and can support multiple installations per trip, significantly reducing overall project costs. The demand for self-propelled designs is increasing, particularly in Europe and Asia Pacific, where deepwater projects are expanding rapidly.
Normal Jack-Up Vessels
Normal jack-up vessels remain widely used for nearshore projects and small to medium-sized wind farms. Their lower cost and ease of availability make them ideal for emerging markets. However, their limitations in handling heavy turbines and harsh offshore conditions have constrained their adoption in large-scale installations.
Heavy Lift Vessels
Heavy lift vessels are essential for installing next-generation turbines exceeding 15 MW. They offer exceptional lifting capacity, stability, and deck space, making them suitable for future offshore projects. Growing investment in high-capacity turbines has made this segment a critical enabler of large-scale offshore infrastructure expansion.
Others
This segment includes hybrid and customized vessels designed for specialized installation or maintenance operations. These vessels are gaining traction as operators seek versatile, multipurpose solutions to reduce fleet redundancy and improve utilization rates.
Offshore Wind Turbine Installation Vessel Market, Segmentation by Capacity
The Capacity segmentation classifies vessels based on their load and operational capability. As turbines become larger and installation depths increase, higher-capacity vessels are gaining prominence. The market is witnessing a steady shift toward medium and large-capacity vessels capable of handling complex offshore operations efficiently.
Small
Small-capacity vessels are primarily used for maintenance, inspection, and smaller wind farm projects. While their use in large installations is limited, they remain vital in shallow-water applications where maneuverability and cost-effectiveness are essential.
Medium
Medium-capacity vessels balance operational efficiency and cost, making them ideal for most offshore installations. They can handle moderate turbine sizes and are increasingly being equipped with advanced dynamic positioning systems for improved precision.
Large
Large-capacity vessels dominate the segment, driven by the growing installation of turbines exceeding 12 MW. Their ability to carry multiple turbines and operate in deeper waters enhances project timelines and cost-effectiveness, with adoption particularly strong in Europe and Asia Pacific.
Offshore Wind Turbine Installation Vessel Market, Segmentation by Method
The Method of installation plays a crucial role in determining operational costs and technical requirements. The shift toward floating and shared installation techniques is expected to reshape the industry as offshore wind farms expand into deeper waters.
Bottom-Fixed InstallationThis method remains dominant due to its mature technology, proven reliability, and lower installation risks. It is widely adopted in Europe and North America, where seabed conditions favor stable anchoring structures. Continuous innovation in foundation design further supports its cost competitiveness.
Floating Installation
Floating installation is emerging as a transformative approach, especially for deepwater wind farms beyond 60 meters. This method enhances accessibility to new offshore zones and reduces dependency on seabed conditions. The adoption of floating technology is expected to grow by over 20% annually in Asia Pacific and Europe.
Shared Installation
Shared installation methods are being explored to reduce costs by using multi-purpose vessels capable of both installation and maintenance operations. This integrated approach enhances asset utilization and minimizes downtime across offshore projects.
Offshore Wind Turbine Installation Vessel Market, Segmentation by Application
The Application segmentation reflects the operational purpose of vessels, encompassing installation, repair, and support functions. Growing emphasis on offshore asset lifecycle management is expanding the role of installation vessels beyond initial deployment.
Offshore Wind Farm Installation
This segment holds the largest market share, driven by the surge in offshore wind capacity additions worldwide. The need for high-precision, efficient, and large-scale installation solutions has led to a significant rise in demand for specialized vessels.
Maintenance & Repair
As the global offshore wind fleet matures, maintenance and repair activities are expected to account for a growing share of vessel operations. Companies are increasingly adopting digital inspection systems and autonomous tools to improve operational uptime.
Others
This includes vessels used for ancillary tasks such as cable laying, logistics, and crew transfer. These support vessels play a key role in ensuring smooth and continuous project execution across offshore environments.
Offshore Wind Turbine Installation Vessel Market, Segmentation by End-User
The End-User segment categorizes the market by ownership and operational stakeholders, each influencing vessel specifications and deployment strategies. Increasing public-private partnerships and government-led initiatives are shaping vessel procurement and utilization trends globally.
Utility
Utility companies dominate the market, investing heavily in offshore wind expansion to meet renewable energy targets and carbon neutrality goals. Their preference for high-capacity, self-propelled vessels underlines a focus on long-term efficiency and reliability.
Private
Private sector players are entering the market through leasing models and consortium investments. These entities are driving innovation through flexible contracting, vessel sharing, and technology upgrades to optimize capital utilization.
Government
Government agencies support offshore wind projects through policy incentives, funding, and strategic vessel procurement. Their involvement ensures compliance with safety standards and facilitates local industry growth.
Others
This segment includes research organizations and joint ventures focusing on prototype installations and technological advancements. Their activities contribute to diversifying vessel capabilities and testing new methodologies for offshore deployment.
Offshore Wind Turbine Installation Vessel Market, Segmentation by Geography
In this report, the Offshore Wind Turbine Installation Vessel Market has been segmented by Geography into five regions: North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
Regions and Countries Analyzed in this Report
North America
North America holds a growing share in the market, supported by offshore wind projects in the U.S. and Canada. Favorable government policies and private investments in renewable infrastructure are enhancing vessel demand. The U.S. East Coast, in particular, is emerging as a key offshore wind installation hub.
Europe
Europe remains the largest and most mature market for offshore wind turbine installation vessels. The region benefits from advanced infrastructure, well-established players, and strong government incentives promoting offshore wind expansion. Countries like the U.K., Germany, and the Netherlands lead in technological innovation and vessel upgrades.
Asia Pacific
Asia Pacific is witnessing the fastest growth rate, driven by major offshore projects in China, Japan, South Korea, and Taiwan. Increasing local shipbuilding capabilities and rising investments in renewable energy are propelling market growth across the region.
Middle East & Africa
The Middle East & Africa region is gradually exploring offshore wind opportunities as part of broader energy diversification and sustainability goals. Nations like the UAE and South Africa are expected to introduce pilot offshore projects over the coming decade, creating new opportunities for vessel operators.
Latin America
Latin America presents untapped potential for offshore wind development, with countries such as Brazil and Mexico beginning to evaluate coastal wind resources. Strategic partnerships and policy support will be essential to drive regional vessel deployment and technology transfer.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Offshore Wind Turbine Installation Vessel Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunities Analysis
Drivers:
- Increasing Investments in Offshore Wind Energy Projects
- Government Policies and Renewable Energy Targets
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Advancements in Turbine and Vessel Technology- Advancements in turbine and vessel technology are key drivers in the global offshore wind turbine installation vessel market, enabling the industry to meet the growing demand for offshore wind energy. As wind turbines become larger and more powerful, installation vessels must evolve to accommodate their increasing size, weight, and height. Modern installation vessels are now equipped with higher crane capacities, larger deck spaces, and dynamic positioning systems to handle next-generation turbines efficiently. These innovations enhance installation speed and operational efficiency, reducing overall project costs and making offshore wind energy more competitive.
One of the most significant advancements is the development of next-generation wind turbine installation vessels (WTIVs) capable of handling turbines exceeding 15 MW in capacity. Traditional vessels struggle with these massive structures, leading to delays and increased costs. Newer WTIVs feature stronger and taller cranes, reinforced hull designs, and improved stability to operate in deeper waters and harsher offshore environments. Additionally, self-propelled jack-up vessels with advanced lifting capabilities are gaining popularity, allowing for quicker and more precise turbine installations, minimizing downtime and maximizing energy production.
Another critical technological advancement is the integration of automation and digitalization in vessel operations. Modern installation vessels are equipped with AI-driven navigation systems, real-time monitoring sensors, and remote-control capabilities, improving precision and safety during turbine installation. These innovations reduce human error, enhance operational efficiency, and enable predictive maintenance, preventing unexpected breakdowns. Additionally, hybrid and fully electric propulsion systems are being introduced to lower fuel consumption and emissions, aligning with global sustainability goals and reducing the carbon footprint of offshore wind projects.
These advancements in turbine and vessel technology not only improve the efficiency of offshore wind turbine installations but also drive overall market growth by attracting investments and accelerating project timelines. As governments worldwide set ambitious renewable energy targets, the demand for cutting-edge installation vessels continues to rise. Manufacturers and operators are focusing on research and development to create even more efficient, cost-effective, and environmentally friendly vessels, ensuring that the offshore wind industry can scale up to meet future energy demands.
Restraints:
- High Initial Investment and Operational Costs
- Limited Availability of Specialized Installation Vessels
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Adverse Weather Conditions Impacting Offshore Operations- Adverse weather conditions pose a significant restraint on the global offshore wind turbine installation vessel market, affecting project timelines, operational efficiency, and overall costs. Offshore wind farms are typically located in deep waters where strong winds and rough sea conditions are common. High waves, storms, and extreme weather events such as hurricanes or typhoons can delay installation activities, forcing vessels to remain docked or take extended safety precautions. These delays not only extend project completion timelines but also increase operational expenses, as vessel rental costs and crew wages continue to accumulate even during non-operational periods.
Another major challenge is the impact of harsh weather on the safety and stability of installation vessels. High winds and turbulent waters can make it difficult to position and stabilize jack-up vessels or dynamic positioning (DP) vessels, which are essential for precision work. In extreme conditions, equipment malfunctions or structural damage to vessels and turbines may occur, leading to costly repairs and potential project setbacks. Furthermore, unpredictable weather patterns create difficulties in planning and scheduling installation activities, making it harder for companies to optimize their resources and workforce.
The long-term impact of adverse weather conditions also extends to maintenance and logistics. Once turbines are installed, ongoing maintenance requires reliable access to offshore sites, which can be hindered by unfavorable sea conditions. Heavy fog, ice formation, or severe storms can make it unsafe for service vessels and personnel to reach the turbines for inspections or repairs. This not only increases the risk of equipment failure but also reduces the efficiency of energy production due to prolonged downtime. Additionally, extreme weather conditions can lead to accelerated wear and tear on both turbines and vessels, increasing maintenance costs over time.
To mitigate these challenges, industry players are investing in advanced vessel technologies, including improved dynamic positioning systems, weather-resistant materials, and enhanced forecasting tools to anticipate and adapt to adverse conditions. Governments and companies are also exploring alternative installation windows during calmer seasons to minimize weather-related disruptions. Additionally, the development of floating wind turbine technology, which requires fewer complex installations compared to fixed-bottom structures, may help reduce the impact of severe offshore weather on future projects. Addressing these weather-related constraints is crucial for ensuring the long-term viability and efficiency of offshore wind energy expansion.
Opportunities:
- Expansion of Offshore Wind Projects in Emerging Markets
- Technological Innovations in Vessel Design and Efficiency
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Rising Collaborations and Partnerships in the Offshore Wind Sector- The growing complexity and scale of offshore wind projects have made collaborations and partnerships a vital opportunity in the offshore wind turbine installation vessel market. As offshore wind farms move further into deeper waters and harsher environments, companies are increasingly forming strategic alliances to pool resources, share expertise, and mitigate financial risks. Vessel operators, wind turbine manufacturers, and energy developers are collaborating to optimize installation efficiency, reduce costs, and ensure compliance with evolving regulatory standards. These partnerships enable stakeholders to enhance their operational capabilities and meet the rising demand for offshore wind energy.
Technological advancements in vessel design and installation techniques are driving partnerships between shipbuilders, engineering firms, and offshore wind developers. Companies are working together to develop next-generation installation vessels equipped with larger crane capacities, dynamic positioning systems, and hybrid propulsion technologies. These innovations are critical for handling the increasing size of wind turbines, which now exceed 15 MW per unit. By fostering collaborations, firms can accelerate innovation, improve vessel efficiency, and expand their market presence, ensuring they remain competitive in the rapidly evolving offshore wind sector.
Government support and policy incentives are encouraging public-private partnerships in offshore wind energy development. Many countries, particularly in Europe, Asia, and North America, are setting ambitious offshore wind targets, prompting vessel operators to form alliances with policymakers and renewable energy firms. These collaborations help secure funding for newbuild installation vessels, streamline permitting processes, and align industry standards with national energy goals. As governments continue to promote clean energy transitions, companies that engage in strategic partnerships will be better positioned to capitalize on emerging opportunities in offshore wind expansion.
International collaborations are also opening doors for market expansion into new regions. European offshore wind leaders are partnering with firms in Asia-Pacific and North America to transfer expertise and develop infrastructure in emerging offshore wind markets. Joint ventures, mergers, and supply chain partnerships are enabling companies to establish a presence in high-growth regions, such as China, Taiwan, and the U.S. East Coast. By leveraging these global partnerships, offshore wind turbine installation vessel operators can expand their fleets, enhance their service capabilities, and secure long-term contracts, ensuring sustained growth in the sector.
Offshore Wind Turbine Installation Vessel Market Competitive Landscape Analysis
Competitive Landscape
The Offshore Wind Turbine Installation Vessel Market is becoming increasingly competitive as energy and marine engineering companies focus on innovation, technological advancements, and collaboration to support the global transition toward offshore renewable power. Over 60% of companies are investing in next-generation jack-up and heavy-lift vessels capable of handling large turbine components. Strategic partnerships and fleet expansion initiatives are fueling growth and strengthening market presence across major offshore wind projects.
Market Structure and Concentration
The market exhibits a moderately consolidated structure, with leading offshore engineering and vessel operators accounting for nearly 55% of global market capacity. Major players pursue strategic alliances with turbine manufacturers and energy developers to enhance installation capabilities. Smaller firms promote innovation through hybrid propulsion systems and cost-efficient vessel designs, supporting expansion in emerging offshore wind regions.
Brand and Channel Strategies
Prominent operators employ diversified strategies including long-term charter contracts, regional joint ventures, and partnerships with energy utilities. Around 65% of companies emphasize operational efficiency, sustainability, and reliability as core brand values. Ongoing collaboration with shipbuilders and offshore developers continues to drive growth and reinforce market leadership in global offshore infrastructure deployment.
Innovation Drivers and Technological Advancements
Rapid technological advancements in vessel automation, dynamic positioning, and hybrid energy systems are transforming offshore installation efficiency. Over 70% of manufacturers are investing in R&D to enhance payload capacity, fuel efficiency, and environmental compliance. Innovation through collaboration between naval architects and renewable energy engineers is enabling safer, faster, and more sustainable offshore turbine installation operations.
Regional Momentum and Expansion
Regional expansion is accelerating across Europe, Asia-Pacific, and North America, which together account for about 50% of global offshore wind capacity. Companies are forming partnerships with regional shipyards and energy consortiums to strengthen local capabilities. Growing investments in offshore renewable projects and government-backed energy transition programs continue to drive growth across coastal economies.
Future Outlook
The future outlook for the Offshore Wind Turbine Installation Vessel Market indicates robust growth supported by offshore wind expansion, vessel modernization, and technological advancements. More than 65% of companies are expected to expand through collaboration and sustainable shipbuilding initiatives. Continued innovation in automation, digital navigation, and green propulsion will define the market’s evolution toward efficient, low-emission, and high-capacity offshore installation solutions.
Key players in Offshore Wind Turbine Installation Vessel Market include:
- Jan De Nul Group
- DEME Group
- Van Oord
- Seaway 7 (Subsea 7’s renewables arm)
- Cadeler (formerly Swire Blue Ocean)
- Fred. Olsen Windcarrier
- Eneti (formerly Dominion Energy / Edison Chouest Offshore wind vessel operations)
- GustoMSC / Huisman (design & build partners / vessel providers)
- ZPMC (shipyard / conversion partner)
- Saipem
- Boskalis / Royal Boskalis
- Allseas
- Scorpio (via WTIV ownership intent)
- Seatrium / Sembcorp Marine / related shipbuilders)
- Smaller regional / niche vessel owners / converters
In this report, the profile of each market player provides following information:
- Market Share Analysis
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Type
- Market Snapshot, By Capacity
- Market Snapshot, By Method
- Market Snapshot, By Application
- Market Snapshot, By End-User
- Market Snapshot, By Region
- Offshore Wind Turbine Installation Vessel Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing Investments in Offshore Wind Energy Projects
- Government Policies and Renewable Energy Targets
- Advancements in Turbine and Vessel Technology
- Restraints
- High Initial Investment and Operational Costs
- Limited Availability of Specialized Installation Vessels
- Adverse Weather Conditions Impacting Offshore Operations
- Opportunities
- Expansion of Offshore Wind Projects in Emerging Markets
- Technological Innovations in Vessel Design and Efficiency
- Rising Collaborations and Partnerships in the Offshore Wind Sector
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Offshore Wind Turbine Installation Vessel Market, By Type, 2021 - 2031 (USD Million)
- Self-Propelled Jack-Up Vessels
- Autonomous Self-Propelled Vessels
- Conventional Self-Propelled Vessels
- Normal Jack-Up Vessels
- Standard Jack-Up Vessels
- Enhanced Stability Jack-Up Vessels
- Heavy Lift Vessels
- Crane-Lift Heavy Lift Vessels
- Lift-and-Carry Heavy Lift Vessels
- Others
- Self-Propelled Jack-Up Vessels
- Offshore Wind Turbine Installation Vessel Market, By Capacity, 2021 - 2031 (USD Million)
- Small
- Medium
- Large
- Offshore Wind Turbine Installation Vessel Market, By Method, 2021 - 2031 (USD Million)
- Bottom-Fixed Installation
- Floating Installation
- Shared Installation
- Offshore Wind Turbine Installation Vessel Market, By Application, 2021 - 2031 (USD Million)
- Offshore Wind Farm Installation
- Maintenance & Repair
- Others
- Offshore Wind Turbine Installation Vessel Market, By End-User, 2021 - 2031 (USD Million)
- Utility
- Private
- Government
- Others
- Offshore Wind Turbine Installation Vessel Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Offshore Wind Turbine Installation Vessel Market, By Type, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- Jan De Nul Group
- DEME Group
- Van Oord
- Seaway 7 (Subsea 7’s renewables arm)
- Cadeler (formerly Swire Blue Ocean)
- Fred. Olsen Windcarrier
- Eneti (formerly Dominion Energy / Edison Chouest Offshore wind vessel operations)
- GustoMSC / Huisman (design & build partners / vessel providers)
- ZPMC (shipyard / conversion partner)
- Saipem
- Boskalis / Royal Boskalis
- Allseas
- Scorpio (via WTIV ownership intent)
- Seatrium / Sembcorp Marine / related shipbuilders)
- Smaller regional / niche vessel owners / converters
- Company Profiles
- Analyst Views
- Future Outlook of the Market